Summary
- The US Supreme Court ruled that President Trump has the authority to remove commissioners at independent agencies including the SEC and CFTC.
- The court, in a 6-3 decision, found that a president can dismiss officials at independent agencies except for governors of the Federal Reserve (Fed).
- The ruling expands the president’s personnel authority over major independent regulators, excluding the Fed, and is drawing attention in the crypto industry because Slaughter’s spouse is vice president of policy at crypto venture capital firm Paradigm.
Forecast Trend Report by Period
The US Supreme Court ruled that President Donald Trump has the authority to remove commissioners at independent agencies, including the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Crypto outlet Decrypt reported on June 29 that the court, in a 6-3 decision, found that a president can dismiss officials at independent agencies except for Federal Reserve governors.
The ruling relates to a lawsuit filed after Trump removed Federal Trade Commission Commissioner Rebecca Slaughter in March last year. Slaughter sued, arguing that her dismissal without cause was unlawful.
Decrypt said the decision expands the president’s personnel authority over major independent regulators outside the Fed. The outlet added that the ruling is also drawing attention in the crypto industry because Slaughter’s spouse is vice president of policy at crypto venture capital firm Paradigm.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.