The U.S. Supreme Court ruled 6-3 in Trump v. Slaughter that the president can fire commissioners of federal agencies like the SEC and CFTC at will, overturning a nearly century-old precedent protecting independent agencies. This decision grants President Donald Trump—and future presidents—unprecedented control over crypto regulators, as the SEC and CFTC oversee digital asset markets. The case originated from Trump's attempt to fire FTC Commissioner Rebecca Slaughter, whose husband works at crypto venture firm Paradigm. The ruling complicates passage of the Clarity Act, a bill to legalize crypto activities, as Senate Democrats demanded bipartisan oversight of agencies in exchange for support. Trump has already left Democratic seats vacant at the SEC and CFTC, and could now appoint and later fire minority commissioners. The Clarity Act faces a critical deadline before August, with other hurdles including ethics rules restricting Trump's crypto ventures.

Key facts

• Supreme Court overrules 1935 precedent, allowing president to fire agency commissioners at will.
• Decision gives Trump direct control over SEC, CFTC—key crypto regulators.
• Case originated from Trump firing FTC commissioner married to Paradigm policy VP.
• Complicates Clarity Act passage as Democrats demand bipartisan oversight.
• Trump has left Democratic seats vacant at SEC and CFTC, now can fire appointees.