Trump directs federal agencies to shape crypto rules

The Trump administration has directed federal agencies, including the SEC and CFTC, to shape rules for the digital asset industry as cryptocurrency legislation stalls in Congress. Industry officials and legal experts warn that agency-made rules may not provide the lasting certainty that congressional legislation could offer and could be reversed by a future administration. Crypto companies have spent hundreds of millions of dollars lobbying for legislation such as the stalled Clarity Act, which would determine which tokens qualify as securities or commodities and which agencies oversee the sector.