The CFTC just put Congress on the clock, warning it will write its own crypto rules if the Clarity Act stalls.
This isn't posturing. Chairman Mike Selig said he's already directed staff to explore building a crypto regime with existing powers, explicitly to prevent "another Gary Gensler."
This is the start of a regulatory turf war. The CFTC is making a direct bid to be the primary US crypto regulator, positioning itself as the pro-growth option. The SEC's surprise proposal for a $75 million fundraising safe harbor this week wasn't a random act of kindness; it was their opening shot in the same fight. The market is shifting from having one hostile regulator to two competing ones.
Which agency do you want writing the rules for your bags?
$BTC #Regulation
This isn't posturing. Chairman Mike Selig said he's already directed staff to explore building a crypto regime with existing powers, explicitly to prevent "another Gary Gensler."
This is the start of a regulatory turf war. The CFTC is making a direct bid to be the primary US crypto regulator, positioning itself as the pro-growth option. The SEC's surprise proposal for a $75 million fundraising safe harbor this week wasn't a random act of kindness; it was their opening shot in the same fight. The market is shifting from having one hostile regulator to two competing ones.
Which agency do you want writing the rules for your bags?
$BTC #Regulation