Crypto
Supreme Court Says Trump Can Fire SEC, CFTC Commissioners at Will
The U.S.
Key takeaways
- The Supreme Court ruled 6-3 that presidents can fire SEC, CFTC, and other agency commissioners at will, except for Federal Reserve governors.
- The decision is the greatest increase in presidential power in the last 100 years.
- The ruling complicates the Clarity Act because Trump could theoretically appoint Democrats and then fire them at any point.
- The Clarity Act must be passed by early August to stand a chance of becoming law before the November midterm elections.
- GOP Senate leadership intends to force a floor vote on the Clarity Act next month.
The U.S. Supreme Court ruled 6-3 in Trump v. Slaughter, overturning a 91-year-old precedent to allow presidents to fire federal agency commissioners, including those at the SEC and CFTC, at will. This decision grants President Donald Trump greater executive authority over crypto regulators. The ruling complicates ongoing negotiations for the Clarity Act, a bill to legalize most U.S. crypto activity, as Senate Democrats have demanded bipartisan appointments to these agencies before supporting the legislation.
In their words
“Today’s historic Slaughter decision by the Supreme Court is the greatest increase in presidential power in the last 100 years. Such a monumental ruling at such an important time!”
By the numbers
- 6-3
- Supreme Court majority vote ruling in Trump v. Slaughter
- 3
- Republican commissioners currently serving on the SEC
- 0
- Democratic commissioners currently serving on the SEC
How it unfolded
- Trump says he is open to appointing agency Democrats
- Supreme Court rules 6-3 in Trump v. Slaughter
- GOP Senate leadership plans forced Clarity Act floor vote
- Deadline for Clarity Act passage to stand a chance
Turn stories like this into views
Ravenclip finds the Crypto news, makes the video, and posts it before attention moves on.
Common questions
- What happened with Supreme Court?
- The Supreme Court ruled 6-3 that presidents can fire SEC, CFTC, and other agency commissioners at will, except for Federal Reserve governors.
- Where can I read the original report?
- Read the full report at decrypt.
