‘America is now the crypto capital of the world,’ CFTC’s Selig says as digital asset rules take shape
CFTC Chair Selig declared the U.S. the “crypto capital of the world” and outlined initiatives for clearer crypto regulation, moving away from past enforcement-focused approaches.Summary
U.S. Commodity Futures Trading Commission (CFTC) Chair Michael Selig stated that “America is now the crypto capital of the world” during a speech at the FIA's annual industry conference. This declaration accompanied the announcement of new regulatory initiatives designed to provide clarity for crypto market participants, marking a shift from previous enforcement-led oversight. Selig criticized the SEC’s past approach under Gary Gensler, claiming it drove the crypto industry offshore. He highlighted a partnership with SEC Chair Paul Atkins on “Project Crypto,” aiming to end inter-agency conflict and establish a clear crypto asset taxonomy. The CFTC also plans to issue guidance for software developers and clarify rules for retail trading in crypto, including leveraged transactions and spot trading. Selig acknowledged President Trump’s support for integrating crypto into the U.S. financial future and emphasized the agency’s renewed focus on prediction markets, exploring their potential to combat disinformation through blockchain technology.
(Source：The Block)