US Congress · CLARITY Act · Bitcoin Magazine
CFTC Chair Confirms Clarity Act Is ‘So Close’ As August Deadline Nears
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CFTC Chairman Michael Selig urged Congress to pass the Clarity Act before the August recess, saying the crypto market-structure bill is "so close" despite ongoing disputes over ethics and stablecoin provisions.
Key facts
- The committee advanced the measure in a 15-9 vote, with two Democrats joining Republicans
- Bartiromo also asked Selig about prediction markets, where Kalshi and Polymarket processed a combined $24 billion in volume over the past year
- Commodity Futures Trading Commission Chairman Michael Selig said the Clarity Act remains within reach, days after Congress missed its July 4 target to pass the crypto market-structure bill
- Some analysts give the measure even odds of passage before the August 7 recess
Summary
Commodity Futures Trading Commission Chairman Michael Selig said the Clarity Act remains within reach, days after Congress missed its July 4 target to pass the crypto market-structure bill. Some analysts give the measure even odds of passage before the August 7 recess. The bill would divide oversight of digital assets between the CFTC and the Securities and Exchange Commission, a split the industry has sought for years. Selig, a Trump appointee confirmed in December, backed the Clarity Act effort as a matter of national competitiveness.