CFTC is joining the SEC in proposing a crypto framework after the failed CLARITY vote. The rulebook is shifting to the agencies, not Congress — crypto gets regulatory direction either way, and that's

What happened: CFTC Chair Michael Selig announced proposals letting crypto firms operate under CFTC oversight instead of state rules, after Congress failed to advance the CLARITY Act market structure bill. Key numbers: SEC Commissioner Hester Peirce's last day was Friday, ending eight years of service; six commissioner seats remain unfilled. Why it matters: The SEC already proposed its own crypto regime in August, and both agencies are advancing rules without legislation. ProChain Capital's David Tawil said CLARITY opponents may not have expected the executive branch to act without Congress.

CFTC Chair Michael Selig announced proposals letting crypto firms operate under CFTC oversight instead of state rules, after Congress failed to advance the CLARITY Act market structure bill.

The SEC already proposed its own crypto regime in August, and both agencies are advancing rules without legislation. ProChain Capital's David Tawil said CLARITY opponents may not have expected the executive branch to act without Congress.