Trump Controls the SEC

A seismic shift has dismantled a century of regulatory independence, giving President Donald Trump absolute authority to fire top crypto watchdogs at will. In a 6-3 ruling, the Supreme Court overturned a 91-year precedent, allowing the president to terminate commissioners for almost any reason.

This landmark case has direct ties to the crypto industry itself. It was funded by the family of ousted Commissioner Rebecca Slaughter, whose husband is the vice president of policy at crypto giant Paradigm.

Trump praised the decision, calling it the greatest increase in presidential power in the last 100 years. The ruling tightens his grip on watchdogs like the SEC, which currently has 3 Republican commissioners and 0 Democrats.

Though Trump previously disclosed he was open to appointing Democrats, 6 months have passed with no such appointments. Commentators note this ruling severely complicates negotiations over the Clarity Act, the bill meant to formally legalize US crypto.

Senate Democrats demand bipartisan oversight, but any commissioner Trump appoints can now be instantly fired at his whim. With GOP leadership forcing a vote next month, the landmark bill faces a climactic do-or-die deadline before the November midterm elections.