[U.S. Supreme Court Rules President Has Authority to Remove Heads of Independent Regulatory Agencies, Adding Uncertainty to SEC and CFTC Crypto Rulemaking Process] According to a report by Jinse Finance, on July 9, the U.S. Supreme Court ruled 6-3 in favor of expanding President Trump's authority to remove leaders of independent federal agencies. This ruling impacts the SEC and CFTC, which are currently advancing the development of crypto regulatory rules. Both agencies are designed to operate on a bipartisan basis, but the CFTC currently has only one commissioner, Chairman Michael Selig, while all three SEC commissioners are Republicans. A former agency official expressed regret over the ruling, stating that fewer commissioners mean fewer opportunities for intellectual exchange and debate, potentially leading to suboptimal outcomes due to reduced participation in discussions. Rules passed by bipartisan commissions tend to have greater longevity, and without bipartisan support, opponents in the future may find it easier to overturn rules on the grounds that they were not adequately debated. From a legal perspective, a former CFTC official noted that as long as rulemaking follows the Administrative Procedure Act, the rules have full legal validity regardless of how many commissioners vote in favor. The advantage of a single-commissioner agency lies in faster decision-making, but the risk is that a lack of compromise could lead to more errors. Additionally, financial disclosures from the Trump family's crypto company reveal holdings of billions of dollars in Bitcoin and Ethereum. Healthy Markets Association CEO Tyler Gellasch commented that politics is cyclical, and the stronger the tailwinds today, the greater the likelihood of political headwinds for the industry in the future. It is worth noting that if this ruling is applied under a future Democratic administration opposed to crypto, it could potentially eliminate dissenting voices and weaken the accountability of public institutions. Currently, Congress is reviewing a landmark bill to allocate regulatory authority over digital assets to the SEC and CFTC. Lawmakers have urged Trump to appoint more CFTC commissioners to advance the legislative process.