CFTC Chair Selig Says Regulator Is Preparing for 24-7 On-Chain Markets

CFTC signals readiness for always-on blockchain markets

Commodity Futures Trading Commission Chair Mike Selig said on September 23 that his agency is preparing for a shift toward markets that operate 24 hours a day and settle directly on blockchain. He spoke to CNBC, calling it an exciting moment to regulate markets tied to crypto and artificial intelligence.

Selig's comments came the week after U.S. lawmakers blocked the Clarity Act, a bill that was meant to formally split oversight of digital assets between the CFTC and the Securities and Exchange Commission. The CFTC oversees commodities and derivatives, while the SEC oversees securities. The Clarity Act would have clarified which crypto assets fall under which regulator.

Despite the legislative setback, Selig said the CFTC would continue pushing forward and help President Trump get the job done on regulating digital assets.

Key points from Selig's remarks

• The CFTC is reevaluating its rules and regulations to prepare for markets that run continuously on blockchain and use automated trading driven by algorithms and agentic finance.
• The Clarity Act was blocked by lawmakers who raised issues over stablecoin rewards and ethics concerns. Stablecoins are crypto tokens designed to hold a fixed value, usually tied to a fiat currency like the U.S. dollar.
• The CFTC sent a proposal to the White House last week covering regulation of crypto transactions and markets.
• The SEC approved tokenized stock trading the same week and proposed its own crypto asset framework in August.

What Selig told CNBC

Selig described a rapidly changing landscape. "Our markets are rapidly evolving," he said. "We really have to reevaluate all of our rules and regulations to make sure that we're ready and prepared for this transition to 24-7 on-chain and these automated markets that are facilitated through the use of algorithms and agentic finance."

He added that it was an exciting time to regulate markets related to crypto and artificial intelligence, per CNBC's video interview.

Background on the stalled Clarity Act

The Clarity Act sought to formally divide oversight between federal regulators, distinguishing which digital assets are securities, commodities, or stablecoins. The bill stalled as banking interests pushed back against crypto companies paying customers stablecoin rewards, and some lawmakers, mostly Democrats, raised ethical concerns about the legislation.

President Trump received backing from major crypto industry players during his campaign, and his family has made money from digital asset ventures. Some lawmakers have alleged conflicts of interest. The White House has denied any wrongdoing.

What is confirmed

• CFTC Chair Mike Selig made these statements to CNBC on September 23, 2026.
• The Clarity Act was blocked by lawmakers that week.
• The CFTC sent a crypto regulation proposal to the White House.
• The SEC approved tokenized stock trading and proposed its own crypto framework in August.
• Selig previously served as chief counsel at the SEC's Crypto Task Force.
• David Sacks, described as the White House's Crypto and AI lead, called Selig instrumental in driving the President's crypto agenda.

What is still unclear

• The specific timeline for CFTC rulemaking after the Clarity Act failure was not detailed.
• The contents of the CFTC proposal sent to the White House were not disclosed in the source material.
• How the SEC and CFTC will coordinate without the Clarity Act framework remains unclear.

Why this matters for crypto markets

With the Clarity Act stalled, the CFTC and SEC are moving forward with their own regulatory actions independently. Selig's comments suggest the CFTC intends to adapt its framework for markets that trade continuously on blockchain rather than following traditional exchange hours. Traders and companies operating in crypto markets may face new CFTC rules even without comprehensive legislation.

Sources

• Bitcoin Magazine
• CNBC interview
• Chairman Selig on X