The U.S. Supreme Court expands the president's authority over financial regulators or affects the advancement of SEC and CFTC crypto supervision

The U.S. Supreme Court ruled 6 - 3 in support of Trump's right to remove the leaders of a number of independent federal agencies, including the FTC, except the Federal Reserve, to strengthen the president's personnel control over regulatory agencies. The ruling comes as the SEC and CFTC are advancing a new round of rules for the regulation of crypto-assets, including rule revisions, exemptions and division of rights and responsibilities for digital assets. Currently, the SEC is dominated by three Republican members, while the CFTC has only Chairman Michael Selig.<br /> Former CFTC officials and industry insiders said that the reduction in the number of members may weaken the internal game and the robustness of rules, and may also make it easier for rules led by a single member to be rewritten or repealed in future governments. However, as long as they comply with their respective authorization bills and the Administrative Procedure Act, relevant rules will still have legal force.