White House · CLARITY Act · Donald Trump · US Senate · Bitcoin Magazine
The CFTC’s move comes after lawmakers blocked the long-awaited crypto legislation Clarity Act on Tuesday
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CFTC Chair Mike Selig said on Wednesday that while the Clarity Act didn’t move forward, the watchdog would still help U.S. President Trump “get the job done” in regulating the crypto space.
Key facts
- CFTC Chair Mike Selig said on Wednesday that while the Clarity Act didn’t move forward, the watchdog would still help U.S. President Trump “get the job done” in regulating the crypto space
- Since Trump became president, the SEC and CFTC have taken a much friendlier approach to watchdogging the space
- The Commodity Futures Trading Commission on Thursday sent a proposal to the White House to regulate crypto transactions and markets
- President Trump last month urged lawmakers to pass the Clarity Act, calling the legislation “powerful”, but Republicans said that Democrats were deliberately holding it back
Summary
The regulator has already sent a proposal to the White House following this week's failed vote. The Commodity Futures Trading Commission on Thursday sent a proposal to the White House to regulate crypto transactions and markets. It isn’t clear what the regulations will look like from the post on the Office of Management and Budget’s website. The CFTC’s move comes after lawmakers blocked the long-awaited crypto legislation Clarity Act on Tuesday. President Trump “get the job done” in regulating the crypto space.