Crypto sector is adopting CFTC rules as legislation struggles, says Selig

According to CFTC Chairman Michael Selig, major crypto exchanges and new market entrants are showing significant interest in opting into the agency's newly proposed digital asset regulations. Speaking at the Cantor Convergence conference, Selig noted that firms find dealing with a single federal regulator more appealing than navigating dozens of state-level regimes. The regulatory push comes after a comprehensive digital asset market structure bill stalled in the Senate. In response, federal regulators like the CFTC and SEC have moved to establish frameworks using their existing statutory authorities to protect markets and customers.