CFTC Chairman Michael Selig affirmed that the Commodity Exchange Act (CEA) already effectively regulates Bitcoin and other cryptocurrencies, citing Bitcoin's classification as a commodity since 2014. On the same day, the CFTC proposed two new rules targeting leveraged crypto trading platforms, introducing a new registration category called "crypto asset market" to enhance federal oversight. These proposals aim to tighten regulations with requirements like proof-of-reserves and anti-manipulation measures, responding to Congress's failure to pass the Digital Asset Market CLARITY Act. The CFTC's move signals a continuation of existing regulatory frameworks rather than creating new laws, with public feedback invited before final rules are set.
CFTC Chairman Selig's remarks on Bitcoin regulation provide context for cryptocurrency market activity. For readers following crypto, here is Pluang's market snapshot as of Oct 06, 2026 00:32 WIB: out of 50 major cryptocurrencies, 22 rose and 27 fell. Notable movers include YFI at Rp45.848.805 with a -3.23% change and 96% sell orders, ALGO at Rp2.271 with a -3.03% change and 88% sell orders, and BAT at Rp1.935 with a +2.96% change and 56% sell orders.
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