CFTC Chair: Senate committee's passage of Clarity Act is progress for US crypto

U.S. Commodity Futures Trading Commission (CFTC) Chairman Mike Selig said the Senate Banking Committee's passage of the Clarity Act markup yesterday is a step forward in making the U.S. the global capital for cryptocurrency. In a post on X, Selig stated that the country will remain a hub for crypto innovation for years to come by establishing a clear distinction between securities and commodities, creating clear rules for crypto trading, and ending enforcement-focused regulation.