CFTC chairman to pursue crypto market rules despite Clarity bill setback

U.S. CFTC Chairman Mike Selig described the Senate’s failed procedural vote on the Clarity bill as a regrettable outcome and said the agency would pursue rules for the cryptocurrency market using its authority under current law, BlockBeats reported. Selig said Americans deserve regulatory clarity, legal certainty and consumer protection in the cryptocurrency market. Selig added that President Donald Trump has laid out a policy of building a forward-looking regulatory framework for the crypto market and that the CFTC will continue related work within the authority granted by existing law. Selig also said the United States is now, and will remain, the center of the global cryptocurrency industry.