According to CoinMeta, the Chair of the Commodity Futures Trading Commission (CFTC) of the United States, Mike Selig, expressed disappointment that Congress failed to pass the CLARITY legislation, which could have ensured that crypto asset transactions enjoyed customer protections. The CFTC is currently promoting a voluntary federal registration path for crypto exchanges, aiming to apply the same protection mechanisms to the crypto market as those used in the U.S. derivatives market, covering platforms that offer leveraged, margin, or financing-based retail transactions. On September 15th, a Senate vote failed to advance the legislation with a result of 49 to 50. The CFTC solicited public comments on the related framework on October 5th, with the deadline being December 14th.