Crypto Exchanges
By Sydney TheCMO
1 / 15
Selig and Atkins Signal Independent Action. Right after the Senate vote, Selig posted on social media that the agency is ready to move on its…
2 / 15
SEC Moves in Parallel, Coinbase Weighs In. The CFTC isn't acting alone. The SEC granted temporary exemptions to certain platforms dealing…
3 / 15
What's Actually Known — and What Isn't. Unclear how long the prerule stage lasts. The CFTC hasn't given a timeline.
4 / 15
The CFTC didn't wait. One day after the Senate let the CLARITY Act die on the floor, the agency submitted a formal regulatory plan for crypto markets to the White House —…
5 / 15
The filing landed with the Office of Information and Regulatory Affairs. What's inside? Not much publicly.
6 / 15
CFTC Chair Michael Selig didn't stay quiet.
7 / 15
The CFTC had already been thinking about this before the vote. At the Innovation Advisory Committee conference in August — specifically August 20 — Selig laid out the agency's…
8 / 15
What does that regime actually look like? The broad idea is to let both registered and unregistered crypto exchanges operate as designated contract markets.
9 / 15
The CFTC isn't acting alone. The SEC granted temporary exemptions to certain platforms dealing with tokenized securities — on-chain trading platforms that probably couldn't meet…
10 / 15
Read also: CLARITY Act Faces Uncertain Future Amid Senate Ethics Battle and Trumps Crypto Earnings
11 / 15
Coinbase CEO Brian Armstrong weighed in on all of this. He said he expected both agencies to move forward after the vote, and he's confident the SEC and CFTC have enough tools in…
12 / 15
That's not nothing. Coinbase has been pushing for regulatory clarity for years, and Armstrong's read on the situation matters to the market.
13 / 15
Unclear how long the prerule stage lasts. The CFTC hasn't given a timeline. No additional comments from either agency on the specifics.
14 / 15
And the CLARITY Act isn't necessarily dead forever. It failed to advance this time, but Congress has revisited crypto legislation before.
15 / 15
See also: Crypto Stocks Surge 13% After CFTC and SEC Regulatory Moves
The Currency Analytics
Want the full story?