CFTC Chairman: Will continue to issue cryptocurrency regulatory rules based on existing authority

Michael Selig, the chairman of the U.S. Commodity Futures Trading Commission, stated that various regulatory agencies already possess a significant amount of existing statutory authority. While participating in the President's working group on digital assets, they have studied statutory authorizations and legislative-level powers, and will continue to issue regulatory rules in the cryptocurrency sector based on existing regulatory authority to prepare for the development of this new financial field.