On October 4, WOLF Terminal reported that Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), discussed the follow-up work on the CLARITY Act: "Regulatory agencies already possess a significant amount of existing statutory authority. While working with the Presidential Working Group on Digital Assets, we also examined the statutory and legislative powers. The report includes an entire chapter dedicated to explaining how to utilize our existing regulatory authority." Regarding the current regulatory landscape: "The President has a plan in place, and we are prepared. The time for action has come. We will continue to roll out regulatory rules to ensure we are ready for the arrival of new financial sectors."