CFTC Chair Mike Selig Launches Project Crypto With SEC to Regulate DeFi, Prediction Markets

CFTC Chair Mike Selig announced a coordinated initiative with the SEC called Project Crypto, framing it as a move to end turf battles and reassert U.S. leadership in digital assets.

“CFTC chair highlights wide crypto agenda, including rules on DeFi, prediction markets Commodity Futures Trading Commission chief Michael Selig updated his progress on guidance for DeFi developers, crypto derivatives and prediction markets”

@coindesk

He presented the plan as part of a broad agenda to give markets regulatory clarity, telling attendees that market participants deserve clarity.

@coindesk

Selig made the announcement while addressing industry participants at the FIA Global Cleared Markets Conference.

Selig laid out a multi-part rulemaking and guidance agenda that targets prediction markets, DeFi, derivatives and AI-driven trading.

The CFTC will issue guidance and has launched rulemaking on prediction markets (regulated as "event contracts").

CoinDesk

The agency plans to clarify when DeFi software providers must register and to update rules for leveraged and margined crypto spot trading.

The agenda also signals the CFTC’s intent to clarify the regulatory status of perpetual derivatives and to consider oversight for AI‑driven trading systems, reflecting growing regulatory attention to novel contract types and automated trading.

“CFTC chair highlights wide crypto agenda, including rules on DeFi, prediction markets Commodity Futures Trading Commission chief Michael Selig updated his progress on guidance for DeFi developers, crypto derivatives and prediction markets”

@coindesk

Selig framed these steps as part of a broader effort to assert the CFTC’s authority over fast‑growing crypto venues amid ongoing legal uncertainty.

Project Crypto’s coordination with the SEC is intended to reduce inter‑agency turf battles and provide clearer rules for platforms such as prediction markets and DeFi protocols, with the CFTC seeking public input as platforms expand into politically sensitive areas like elections.

Selig presented the package as necessary to reclaim U.S. leadership in digital assets and to give market participants the clarity they need.

CoinDesk