CFTC chair to issue crypto rules if Congress stalls on CLARITY
- Key takeaway: Commodity Futures Trading Commission Chair Michael Selig said he has directed staff to explore potential rulemaking that would create a framework for crypto exchanges to offer leveraged or margin-based trading and establish a legal path for developers to offer decentralized finance protocols in the United States.
- Expert quote: “We’re going to give CLARITY its breathing room for a vote. But if the Democrats cannot support a bipartisan product, which reflects compromises from both sides of the aisle, and ultimately send a fair version of the bill to the president’s desk, then rest assured, I will direct CFTC staff to move swiftly to propose these rules for the industry.” —CFTC Chair Michael Selig
- What’s at stake: The…
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