Chairman of the U.S. Commodity Futures Trading Commission (CFTC) Michael Selig made a sharp statement: if Congress does not pass the CLARITY Act, regulators will take the initiative into their own hands and "write all the rules for the crypto industry" without legislative input. This bill is designed to clearly delineate authority between the CFTC and the Securities and Exchange Commission (SEC) in overseeing digital assets.
Selig emphasizes that the lack of a unified federal regulatory framework leads to chaos: the industry is forced to exist within a "patchwork" system of individual state laws, which seriously hinders business development. According to my data, the Senate is still negotiating the document, but analysts have already lowered their forecasts for its passage in 2026. The reason is tight calendar constraints and unresolved political disagreements.
Analytical Commentary: This is a classic case of a regulator using a "carrot and stick" tactic. Selig's ultimatum is a signal to the market: either Congress acts now, or we will get even stricter regulation that may not account for innovation interests. For investors, this means that 2025-2026 will be a turning point — either we will see long-awaited clarity, or increased administrative pressure on the crypto sector.