US Supreme Court rules president can fire SEC, CFTC commissioners

The U.S. Supreme Court ruled 6-3 on June 29 that the president has the authority to dismiss commissioners of independent agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), Decrypt reported. The decision stems from a lawsuit filed by Federal Trade Commission (FTC) Commissioner Rebecca Slaughter after President Trump announced her dismissal in March of last year. Slaughter had argued that a dismissal without just cause was improper. Media outlets noted that the ruling grants the president discretion to remove heads of most government agencies, with the exception of Federal Reserve governors. The decision is considered relevant to the crypto industry, as Slaughter's husband is the vice president of policy at crypto venture capital firm Paradigm.