SEC and CFTC Take Separate Regulatory Steps for Crypto Assets

In the U.S., following the failure of the legal framework for the digital asset market to pass in the Senate, the SEC and CFTC have begun to advance rules regarding crypto assets within their own jurisdictions. The Digital Asset Market Clarity Act bill was not approved in the Senate vote on September 15, with a vote of 50 against 49. This situation has left the sector without clear legal guidance ahead of the midterm elections in November. The SEC is working on a proposal called Regulation Crypto Assets, which envisions more flexible registration exemptions for crypto ventures. Public sessions are planned to continue until October 20. CFTC Chairman Michael Selig confirmed that they are shaping the market structure using their existing authorities and updated rules regarding the accounting of tokenized assets. Additionally, a comprehensive regulatory proposal has been sent to the White House. Blockchain Association CEO Summer Mersinger announced she would step down from her position on October 16. Coinbase CEO Brian Armstrong has launched a voter mobilization campaign. While Bitcoin maintains a sideways trend between $84,000 and $86,000, XRP and NEAR also remain near their local peaks. Participants believe that regulatory clarity will be shaped by institutional decisions.

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