-
CFTC Chair Michael Selig said the U.S. is now the “crypto capital of the world.”
-
Regulators are working on a crypto asset taxonomy to clarify oversight.
-
New guidance for DeFi developers and wallet providers is being drafted.
-
The agency is also reviewing rules for crypto derivatives and prediction markets.
Regulators Push for Clearer Crypto Rules
Commodity Futures Trading Commission Chair Michael Selig said the United States is becoming the global center for crypto innovation as regulators move to establish clearer rules for the industry.
Speaking at the FIA industry conference, Selig said the country is entering a new phase of financial innovation driven by blockchain technology, crypto assets, and smart contracts.
He described the shift as a move away from earlier enforcement-led oversight toward clearer regulatory frameworks that support market development.
New Frameworks for DeFi and Crypto Markets
The CFTC is currently drafting a crypto asset taxonomy designed to clarify which digital assets fall under the jurisdiction of the CFTC, the SEC, or both.
Selig also announced plans to provide guidance for developers building non-custodial software such as crypto wallets and decentralized finance applications. The guidance is expected to clarify when such developers might be subject to registration requirements.
In addition, the agency is reviewing rules governing leveraged retail crypto trading and examining how crypto perpetual futures contracts should be classified within existing commodity derivatives regulations.
The regulator is also preparing new guidance for prediction markets, which have recently attracted growing trading activity and political scrutiny.
