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. “We’re so close. We have to get this done,” Selig told Fox Business host Maria Bartiromo.
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. The House passed the legislation last summer. The Senate has yet to hold a floor vote.
Selig, a Trump appointee confirmed in December, backed the Clarity Act effort as a matter of national competitiveness. He backed the effort as a matter of national competitiveness.
“It’s critical that we have a federal standard for crypto assets,” he said, pointing to a patchwork of state laws that, in his account, has hurt U.S. business. He described the goal as certainty, clarity, and consumer protection, and called the measure bipartisan. “We have to get it across the line,” he said.
