U.S. Supreme Court Expands Presidential Personnel Authority over Financial Regulators, Potentially Impacting SEC, CFTC Crypto Regulation Push

CoinFeed July 9 news, according to The Block, the U.S. Supreme Court ruled 6-3 in favor of Trump having the authority to remove leaders of multiple independent federal agencies including the FTC (except the Federal Reserve), strengthening the president's personnel control over regulators. The ruling comes as the SEC and CFTC are advancing a new round of crypto asset regulatory rules, including rule amendments, exemptions, and division of authority over digital assets. Currently, the SEC is dominated by three Republican commissioners, while the CFTC only has Chairman Michael Selig serving. Former CFTC officials and industry insiders point out that a reduced number of commissioners could weaken internal agency checks and balances and rule stability, and could also make rules led by a single commissioner more easily rewritten or abolished in future administrations, but as long as they comply with their respective authorizing statutes and the Administrative Procedure Act, the relevant rules still have 'legal force'.