Congress said no — the regulators just said "watch us." 🏛️
After the Senate's CLARITY Act vote failed 50-49 on September 15, CFTC Chairman Michael Selig didn't stay quiet. He called the outcome unfortunate, said Americans deserve real regulatory clarity and consumer protection, and confirmed the CFTC will push forward crypto rules using its existing authority — with or without Congress. His message closed on a defiant note about the US staying the world's crypto capital. $BTC dipped below $76,000 in the immediate reaction, with Coinbase and Circle shares sliding too.
My take: agency-led rules could bring faster clarity for exchanges than waiting on a gridlocked Senate, but rules made this way carry more legal risk and less permanence than actual legislation — a future administration or court challenge could unwind them. It's progress, but not quite the same as durable federal law.
Is agency rulemaking a good enough substitute for Congress actually passing something, or just a stopgap? 👀
#ParadigmDisclosesZECHolding #USWeeklyJoblessClaimsFallTo196K #ElSalvadorBTCHoldingsRiseTo7777
#CFTC #CryptoRegulation
After the Senate's CLARITY Act vote failed 50-49 on September 15, CFTC Chairman Michael Selig didn't stay quiet. He called the outcome unfortunate, said Americans deserve real regulatory clarity and consumer protection, and confirmed the CFTC will push forward crypto rules using its existing authority — with or without Congress. His message closed on a defiant note about the US staying the world's crypto capital. $BTC dipped below $76,000 in the immediate reaction, with Coinbase and Circle shares sliding too.
My take: agency-led rules could bring faster clarity for exchanges than waiting on a gridlocked Senate, but rules made this way carry more legal risk and less permanence than actual legislation — a future administration or court challenge could unwind them. It's progress, but not quite the same as durable federal law.
Is agency rulemaking a good enough substitute for Congress actually passing something, or just a stopgap? 👀
#ParadigmDisclosesZECHolding #USWeeklyJoblessClaimsFallTo196K #ElSalvadorBTCHoldingsRiseTo7777
#CFTC #CryptoRegulation
