CFTC Chair Mike Selig Outlines Plan to Resolve SEC Regulatory Conflict and Establish Crypto Rules

CFTC Chairman Mike Selig spoke at the FIA Global Clearing Markets conference in Florida, stating that the United States is undergoing a new technological revolution, with AI, blockchain, and prediction markets rapidly transforming market dynamics. The CFTC must ensure that innovators are not stifled by rules and regulations designed for a different era. Selig outlined key priorities for the coming years: 1) Prepare derivatives markets for the future through principle-based, minimal effective regulation; 2) Address the shortcomings of the Dodd-Frank Act; 3) End jurisdictional disputes between the CFTC and SEC and stop regulatory enforcement by proxy; 4) Maintain the U.S. position as the crypto capital by establishing clear rules, including a proper classification for crypto perpetual contracts; 5) Establish a gold-standard regulatory framework for prediction markets; 6) Position the U.S. as the leading market for AI computing power; 7) Refocus the Commission on its core mission and move away from issues like climate policy; 8) Prioritize the needs of agricultural and energy communities; 9) Bring key markets—such as critical minerals—back to the United States.