CFTC Chair Selig Says Regulator Is Preparing for ‘24-7, On-Chain’ Markets

Bitcoin Magazine CFTC Chair Selig Says Regulator Is Preparing for ‘24-7, On-Chain’ Markets Commodity Futures Trading Commission Chair Mike Selig has said that the regulator was preparing for the transition of markets moving “24-7, on-chain.”  Speaking to CNBC on Wednesday, the regulator said that it was an exciting time to be regulating markets related to crypto and artificial intelligence.  The CFTC is fast pushing ahead with rulemaking for the crypto space, despite lawmakers last week blocking the long-awaited Clarity Act.

Following the vote on the landmark crypto legislation, Selig said that the watchdog would still help U.S. President Trump “get the job done” in regulating digital assets.  “Our markets are rapidly evolving,” Selig said.

“We really have to reevaluate all of our rules and regulations to make sure that we’re ready and prepared for this transition to 24-7 on-chain and these automated markets that are facilitated through the use of algorithms and agentic finance.” The Clarity Act wants to formally divide oversight between regulators, distinguishing which digital assets are securities, commodities or stablecoins.  But the bill stalled and stumbled this year as the banking lobby had issues with crypto companies paying customers stablecoin rewards and some lawmakers — mostly Democrats — were concerned about the ethics side of the legislation.  Trump received backing from major industry players while campaigning and...