The US Commodity Futures Trading Commission (CFTC) has announced a committee meeting to advise the agency on policy issues, including a potential exploration of how to address cryptocurrency regulation in the absence of congressional action.

In a notice issued Thursday, the CFTC said it would hold a meeting of its Innovation Advisory Committee on Aug. 20 to address regulation related to crypto assets, artificial intelligence and prediction markets. Among the potential crypto topics to be discussed were "areas where regulatory action can complement future congressional legislation" — language that appears to refer to the US Senate's failure to advance the Digital Asset Market Clarity (CLARITY) Act before breaking for an August recess last week.

The CLARITY Act, a market structure bill that passed the US House of Representatives in July 2025, is intended to clarify how regulatory responsibilities for digital assets would be divided between the SEC and the CFTC. The CFTC, which oversees the US derivatives markets, including futures and swaps, has long treated cryptocurrencies such as Bitcoin as commodities. That division has practical consequences for market participants: whether a digital asset is treated as a commodity or a security determines which agency's rules — and which registration, disclosure and trading requirements — apply. In practice, the boundary between the two regulators has often been drawn through enforcement actions and court rulings rather than dedicated rules, the very gap the CLARITY Act is intended to close.

The CFTC announcement followed a similar notice of a meeting to be held by the US Securities and Exchange Commission (SEC) on Friday. The agenda said that the commission intended to discuss "new rules to create a tailored offering regime for certain investment contracts involving crypto assets." A spokesperson added that the SEC would support Congress' effort to pass a market structure bill, but that until such a law was passed, the agency would work "within [its] authority" to advance crypto regulation. The back-to-back notices mean both of the primary US market regulators are now pursuing crypto policy through their existing authority while the legislation remains pending in the Senate.

Michael Selig remains the only Senate-confirmed CFTC commissioner and chair, with no indication that US President Donald Trump intends to announce any additional nominations to fill the agency's leadership positions. By law, the commission is composed of up to five members appointed by the president and confirmed by the Senate, with no more than three from the same political party. While Selig will be joined by other CFTC staff for the Aug. 20 meeting, the absence of a full bipartisan panel of five commissioners has left many lawmakers calling for action from the president. The near-term milestones to watch are the outcome of the SEC's Friday session, the CFTC's Aug. 20 meeting, whether the White House moves to fill the vacant commissioner seats, and whether the Senate takes up the CLARITY Act after returning from recess with a narrowing window before the 2026 midterm elections.

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