CFTC chairman: Crypto market structure bill will let industry thrive

Mike Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), said in an interview with CNBC that the cryptocurrency industry will thrive if Congress finalizes a market structure bill. He argued that clear national standards would encourage blockchain companies to return to the United States, establishing the country as a key hub for the crypto market. Selig emphasized that blockchain technology, which has been around for 15 years, has fundamentally changed market development within the agency's jurisdiction. He noted that while the CFTC has repeatedly seen such technology and assets move offshore, the goal is now to bring them back to the U.S.