CFTC Chair Michael Selig stated that they are preparing a comprehensive regulatory framework for the crypto sector, leveraging the agency’s existing statutory powers. This initiative comes hours after the U.S. Senate blocked the advancement of the historic CLARITY Act in a 50–49 vote, where banking lobby pushback against stablecoin yields and political gridlock left the industry without a formal federal legislative framework.
— Mike Selig (@ChairmanSelig) September 16, 2026
The legislative stalemate triggered a market tsunami that dragged Bitcoin below $76,000 and sparked steep declines in industry equities such as Coinbase and Circle. In an effort to reassure markets, Selig affirmed that “the United States is and will remain the crypto capital of the world,” underscoring that the executive branch will proceed with its own directives to deliver legal clarity and investor protection without depending on Congressional timelines.
The next phase will involve the direct rollout of coordinated guidelines between the CFTC and the SEC to oversee exchanges, stablecoins, and DeFi protocols under current regulatory authorities. Industry analysts expect that this administrative “Plan B” could result in a more agile, adaptable operational framework for institutional capital than the statutory draft originally crafted on Capitol Hill.
Source: https://x.com/ChairmanSelig/status/2100232064259735589?s=20
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