CFTC chair threatens to write crypto rules without Congress

CFTC Chair Michael Selig has directed staff to begin drafting crypto market structure rules using the commission’s existing authority if Congress fails to pass the bipartisan Clarity Act, which would define federal regulatory oversight of digital assets. This move threatens to reshape operations for crypto exchanges and decentralized finance protocols in the U.S., signalling regulatory action independent of Congress.

This Wire brief sits within Fusion42's coverage of Fintech, and 2 sources have reported it between 21 Aug 2026 and 22 Aug 2026.