CFTC chair says regulators will keep issuing crypto rules under existing authority

Michael Selig, chair of the U.S. Commodity Futures Trading Commission, said regulators already hold substantial authority under current law. He said that while taking part in work tied to the president’s digital asset market working group, officials had examined both statutory authorization and powers that could come from legislation. Based on existing regulatory authority, agencies will continue to roll out rules for the crypto sector, he said, as they prepare for development in what he described as a new area of finance. The remarks point to a regulatory approach that leans on powers already available to agencies rather than waiting solely for new legislation.