BlockBeats News, July 9th. The U.S. Supreme Court ruled 6-3 in favor of President Trump's expanded removal power over heads of independent federal agencies, impacting the SEC and CFTC, which are currently advancing cryptocurrency regulatory rulemaking. Both agencies are designed to operate in a bipartisan manner, but CFTC now only has Chairman Michael Selig as a commissioner, and all three SEC commissioners are Republicans. A former agency official described the ruling as unfortunate, believing that fewer commissioners mean fewer clashes of ideas and debates, potentially leading to suboptimal outcomes due to fewer voices in the discussion. Bipartisan commission-endorsed rules tend to be more enduring; without bipartisan support, opponents in the future are more likely to overturn rules on the grounds of insufficient debate.

Legally, a former CFTC official noted that as long as rulemaking follows the Administrative Procedure Act, rules are legally binding regardless of the number of commissioners' votes in favor. The advantage of a single-commissioner organization is faster decision-making, but the risk of lack of compromise may result in more errors. Additionally, financial disclosures from the Trump family's cryptocurrency company reveal holdings of billions of dollars in Bitcoin and Ethereum. Tyler Gellasch, CEO of Healthy Markets Association, stated that politics are cyclical, and the stronger the tailwind today, the greater the industry's risk of facing a political storm in the future. It is noteworthy that if this ruling is applied under a future Democratic government that opposes cryptocurrency, it may silence dissenting voices holding different views, weakening the public accountability institutions' capabilities. The current Congress is considering a milestone bill to allocate digital asset regulatory authority between the SEC and CFTC, with lawmakers urging Trump to appoint more CFTC commissioners to advance the legislative process.