CFTC Chairman Selig says he is disappointed in Congress over stalled crypto bill

The top US derivatives regulator is publicly frustrated with Congress. On October 5, 2026, Commodity Futures Trading Commission Chairman Michael S. Selig said he was disappointed that lawmakers failed to advance the CLARITY Act. The bill was meant to settle a long-running question in crypto policy: which federal agency is actually in charge. Selig is not waiting around, though. The same day, the CFTC put forward two proposed rules aimed at leveraged crypto trading. Both rely on powers the agency says it already has. How the CLARITY Act came up one vote short The CLARITY Act was built to draw a line between the CFTC and the Securities and Exchange Commission on digital assets. On September 15, 2026, the bill stalled in the Senate on a 49-50 procedural vote. About three weeks later, Selig voiced his disappointment with Congress. For a sitting agency chair, openly criticizing lawmakers is not a casual move. It signals how much weight the CFTC had placed on getting legislative clarity. The CFTC’s backup plan: Regulation CTX and CAM With legislation stuck, Selig confirmed the CFTC would push ahead using its existing authority under the Commodity Exchange Act. That is the law that alread...