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Crypto

U.S. House Financial Services chair says SEC, CFTC steps not enough, calls for Clarity Act

French Hill (프렌치 힐), chair of the U.S. House Financial Services Committee, said regulatory steps by financial authorities alone would not be enough to create stability in the crypto market and again stressed the need for the Clarity Act. He said the SEC and CFTC are working on digital asset rules but cannot replace legislation. Hill pointed to a tight post-election Senate schedule and leadership gaps at both agencies as key variables.

Crypto

U.S. CFTC chair says no repeat of FTX-like collapse as exchange rules accelerate

The U.S. Commodity Futures Trading Commission is moving to create a new regulatory framework for cryptocurrency exchanges and says it aims to prevent a repeat of a major collapse like FTX. Commissioner Michael S. Selig said exchanges would be given a path to register with the CFTC to protect digital asset spot markets. The agency has also begun seeking public comment on proposed rules covering platforms offering leveraged or margined crypto trading.

Crypto

Clarity Act vote set for Sept. 15; French Hill says bipartisan passage expected

The U.S. Congress is set to vote on the crypto market structure Clarity Act on Sept. 15, with bipartisan cooperation seen as the key variable. Republican Representative French Hill said passage before the midterm elections would require Democrats and Republicans to work together and that the parties have narrowed differences over drafting. Debate has been delayed by conflicts over stablecoin customer yields and a new ethics-focused draft.