CFTC to join SEC in exploring crypto regulations without CLARITY bill

The US Commodity Futures Trading Commission (CFTC) announced an Aug. 20 Innovation Advisory Committee meeting to discuss crypto asset regulation, AI, and prediction markets, including areas where regulatory action can complement future congressional legislation, following the Senate's failure to advance the Digital Asset Market Clarity (CLARITY) Act. The US Securities and Exchange Commission (SEC) will hold a similar meeting on Friday to discuss new rules for crypto asset investment contracts, with a spokesperson saying the SEC will work within its authority until Congress passes a market structure bill. Michael Selig remains the only Senate-confirmed CFTC commissioner and chair, with no indication President Donald Trump will announce additional nominations.

The US Commodity Futures Trading Commission CFTC announced a committee meeting to advise the agency on policy issues, including a potential exploration of how to address cryptocurrency regulation in the absence of congressional action. In a notice issued Thursday, the CFTC said it would hold a meeting for its Innovation Advisory Committee on Aug. 20 to address regulation related to crypto assets, AI and prediction markets. Among the potential topics to be discussed on crypto were “areas where regulatory action can complement future congressional legislation,” likely referring to the US Senate failing to advance the Digital Asset Market Clarity CLARITY Act before breaking for an August recess last week. The CFTC announcement followed a similar notice of a meeting to be held by the US Securities and Exchange Commission SEC on Friday. The agenda said that it intended to discuss “new rules to create a tailored offering regime for certain investment contracts involving crypto assets.” A spokesperson added that it would support Congress’ effort to pass a market structure bill, but until such a law was passed, the SEC would work “within its authority” to advance crypto regulation. Michael Selig remains the only Senate-confirmed CFTC commissioner and chair, with no indication that US President Donald Trump intends to announce any additional nominations to fill the agency’s leadership positions. While the chair will be joined by other CFTC staff for the Aug. 20 meeting, the absence of a full panel of five bipartisan commissioners at the agency has many lawmakers calling for action from the president.