The regulatory transparency law for cryptocurrencies has failed.

Urgent: CFTC Chair Michael Hsu (formerly Michael Selig) announces the activation of an alternative regulatory pathway for the cryptocurrency market following the failure of the Senate to pass the Clarity Act.

Activation of the "Plan B" by the U.S. Commodity Futures Trading Commission (CFTC) regarding the cryptocurrency sector in the United States.. 📃 🇺🇸

"The result of yesterday's Senate vote was disappointing. Americans deserve regulatory clarity, legal certainty, and consumer protection in crypto asset markets. President Trump pledged to establish a regulatory framework for the crypto asset market that keeps pace with future challenges—by any means necessary—and we will help him achieve this mission by relying on our existing statutory authority. The United States is, and will remain, the world capital of crypto assets; therefore, the CFTC is resolute and fully prepared to propose its regulatory rules for this new and leading financial field."

Michael S. Hsu

Chairman, Commodity Futures Trading Commission (CFTC)

$BTC

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The regulatory transparency law for cryptocurrencies has failed.