CFTC Chairman States Cryptocurrency Market Structure Bill is 'Imminent'

On the 17th, Michael Serlig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced that the enactment of the Cryptocurrency Market Structure Bill (CLARITY Act) is 'imminent'. Chairman Serlig emphasized the desire to establish a regulatory framework that will be durable over time. 'We cannot allow a situation where the next regulatory body could simply wipe the slate clean,' he stated, advocating for the establishment of regulatory standards through law rather than administrative discretion. Should the bill pass, the CFTC would become the primary regulatory authority overseeing the spot markets for major digital assets such as Bitcoin and Ethereum. Meanwhile, the SEC would continue to regulate digital assets that possess characteristics of securities.