U.S. Commodity Futures Trading Commission Chair Michael Selig stated that the agency is prepared to move ahead with crypto market structure rules independently of the outcome of the CLARITY Act. Selig made the comments ahead of a key Senate procedural vote scheduled for September 15.
According to Selig, the CFTC already has rule proposals prepared, offering an alternative path if lawmakers do not reach an agreement. He indicated that the agency does not intend to wait indefinitely for congressional action.
The CLARITY Act aims to establish federal rules for digital assets and define regulatory oversight between the CFTC and SEC. The House passed its version of the bill in July 2025, and the Senate Banking Committee advanced its version in May 2026. However, lawmakers remain in negotiations concerning ethics rules and stablecoin rewards.
Senate Majority Leader John Thune scheduled a cloture vote on the motion to proceed for September 15, which requires 60 votes to advance.
Innovation Committee and Regulatory Scope
Selig's remarks coincide with the CFTC launching its Innovation Advisory Committee on August 20. The committee's inaugural meeting is set to address crypto regulation, artificial intelligence in financial markets, and prediction markets.
The crypto session will review remaining questions regarding federal market structure and customer protection. The CFTC currently oversees crypto derivatives, while Congress continues to debate expanding its authority over spot digital commodity markets.
Meanwhile, the SEC is working on separate crypto regulations. Securitize President Brett Redfearn noted that the SEC recently pulled back a planned innovation exemption due to concerns related to the CLARITY Act vote, though he expects the proposal to return following September 15.
Since becoming CFTC chair in December 2025, Selig has adopted a broader approach to crypto products. The agency has approved perpetual Bitcoin futures, and additional crypto derivatives may follow under its agenda.
CFTC Targets U.S. Compute Markets
In addition to digital assets, the CFTC is seeking public feedback on derivatives tied to the computing power used for artificial intelligence. The agency announced this request on August 19 as part of its focus on emerging commodity markets.
Selig highlighted computing capacity as an essential commodity for the expanding AI sector, stating that a robust derivatives market for compute is necessary. The public consultation covers market liquidity, manipulation risks, customer safeguards, and potential perpetual compute futures, with comments remaining open for 60 days following publication in the Federal Register.
Additionally, CME Group and Silicon Data are preparing contracts tied to GPU rental costs, contingent upon regulatory review. These planned products are designed to track rental prices for Nvidia H100 and Blackwell B200 chips.
