CFTC Chair Mike Selig announced that the agency is moving forward with crypto market structure rules despite the recent Senate rejection of the Clarity Act. Selig stated that existing statutory authority provides the commission with sufficient power to regulate these markets without additional congressional legislation.
The regulatory shift aims to address the transition toward 24/7 onchain markets managed by algorithms and agentic finance. The CFTC intends to reevaluate its framework to accommodate trading environments where software, rather than human participants, executes the majority of transactions.
Under this approach, the CFTC plans to establish a designated contract market category, allowing exchanges to offer leveraged crypto trading under federal oversight. However, the agency lacks jurisdiction over the spot market, which remains dependent on future legislative action.
The policy shift is expected to benefit platforms specializing in perpetual futures, such as Hyperliquid and Lighter. Following the announcement, the Lighter token reached an all-time high of $5.40, while Hyperliquid remains close to its peak, signaling potential for increased integration within the US market.
