CFTC to join SEC in exploring crypto regulations without CLARITY bill

The US Commodity Futures Trading Commission (CFTC) announced a committee meeting to advise the agency on policy issues, including a potential exploration of how to address cryptocurrency regulation in the absence of congressional action.

In a notice issued Thursday, the CFTC said it would hold a meeting for its Innovation Advisory Committee on Aug. 20 to address regulation related to crypto assets, AI and prediction markets. Among the potential topics to be discussed on crypto were “areas where regulatory action can complement future congressional legislation,” likely referring to the US Senate failing to advance the Digital Asset Market Clarity (CLARITY) Act before breaking for an August recess last week.

The CFTC announcement followed a similar notice of a meeting to be held by the US Securities and Exchange Commission (SEC) on Friday. The agenda said that it intended to discuss “new rules to create a tailored offering regime for certain investment contracts involving crypto assets.” A spokesperson added that it would support Congress’ effort to pass a market structure bill, but until such a law was passed, the SEC would work “within [its] authority” to advance crypto regulation.

Michael Selig remains the only Senate-confirmed CFTC commissioner and chair, with no indication that US President Donald Trump intends to announce any additional nominations to fill the agency’s leadership positions. While the chair will be joined by other CFTC staff for the Aug. 20 meeting, the absence of a full panel of five bipartisan commissioners at the agency has many lawmakers calling for action from the president.

Related: Following Senate delay, crypto bill has narrow window to become law