CFTC Chair Mike Selig announced the end of "regulation by enforcement" in the U.S. crypto industry following the passage of the GENIUS Act. In a March 9 interview, Selig advocated for a "permissionless innovation environment" to foster crypto development, proposing an innovation exemption mechanism to minimize pre-approvals for innovators. Selig emphasized the importance of moving away from "paternalistic regulation" and establishing clear, upfront rules to ensure the U.S. remains a leader in crypto innovation. This approach aims to solidify the country's position as the global crypto capital, encouraging long-term growth and innovation within the industry.