CFTC Chairman Michael Selig has signaled a decisive shift in U.S. crypto regulation, moving away from “regulation by enforcement” toward a clear, rules-based framework designed to give the digital asset industry long-awaited certainty.

Crypto Market Regulation Is Global ‘Gold Standard‘

In a Fox Business interview on Tuesday, Selig said momentum is building in Congress, with bipartisan support in both the House and Senate.

He expressed confidence that comprehensive digital asset market structure legislation could reach the President's desk within the next few months.

Selig framed the effort as critical to positioning the United States as the global "gold standard" for crypto regulation, arguing that regulatory clarity would attract builders, exchanges, and innovators back to U.S. markets.

He described recent White House meetings with crypto firms, banks, and industry trade groups as constructive, while acknowledging ongoing disagreements around banking access, stablecoin regulation, and reward-based products.

Rejecting the SEC's long-standing position, Selig said most digital assets should not be classified as securities.

Instead, he argued they function primarily as commodities, as their price-relevant information is derived from open, competitive markets rather than from disclosures by a single issuer.

Selig emphasized that regulatory clarity is finally approaching and said the U.S. intends to lead, rather than follow, the next phase of crypto market development.

Prediction Markets Get Green Light

Selig also underscored the CFTC's pro-innovation stance on prediction markets. Unlike previous efforts to restrict or ban such products, the agency views them as legitimate, federally regulated derivatives, not gambling, and believes they provide meaningful price discovery and informational value.

He said the CFTC plans to withdraw politically motivated proposals that created uncertainty around event-based and election-related contracts, replacing them with clearer rules defining which products are permitted under U.S. law.

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