CFTC Chairman Mike Selig said on Thursday that federal regulators are advancing new crypto trading rules despite Congress failing to pass the CLARITY Act. The CFTC proposal would allow crypto exchanges to register voluntarily under federal oversight and offer margin trading to retail investors. Registered platforms would face stricter investor protection and trading surveillance requirements. The CFTC has opened a 60-day public comment period before advancing more detailed rules. Selig said the CFTC does not intend to regulate individuals simply holding Bitcoin in private wallets or conducting transactions outside the agency's jurisdiction.
