The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are currently operating with limited leadership. The SEC has two commissioners, Paul Atkins and Mark Uyeda, following the departure of Hester Peirce. The CFTC has been led by a single Senate-confirmed official, Michael Selig, since December 2025.
In the absence of comprehensive digital asset legislation, both agencies are utilizing existing statutory authorities to propose new rules. The SEC introduced a safe harbor proposal for tokens in August, while the CFTC announced plans in October to address crypto exchange regulation.
On September 30, the SEC finalized a rule change regarding quorum requirements, which took effect on October 2. The amendment allows a single commissioner to constitute a quorum if only two are present or if others are disqualified from a matter. This change aims to ensure agency rulemaking can proceed despite current staffing levels.
As of mid-October 2026, the White House has not announced new nominations to fill the vacant commissioner seats at either agency. Legislative efforts, specifically the Digital Asset Market Clarity Act, remain pending in Congress, though experts express doubt regarding its passage during the current session.
