THE SUPREME COURT OF THE UNITED STATES RULED THAT THE PRESIDENT HAD THE POWER TO REMOVE THE HEAD OF THE INDEPENDENT REGULATORY BODY, AND THAT THE SEC AND CFTC ENCRYPTION RULE-MAKING PROCESS ADDED UNCERTAINTY

On 9 July, the Supreme Court of the United States ruled in 6 to 3 favouring President Trump ' s extension of the right of recall to the leaders of independent federal agencies, a decision that is spreading over the SEC and CFTC, which are moving ahead with the development of the code of encryption. Both institutions operate on a cross-party basis, but the CTC currently has only one member of its Chairman, Michael Selig, and all three of its members are Republican. A former agency official described the decision as regrettable, arguing that a smaller number of members meant less intellectual collisions and debate, which could lead to a lesser result because fewer people participated in the discussion. The rules adopted by the Inter-Party Committee are usually more sustainable and, in the absence of bipartisan support, it is easier for future opponents to overturn the rules on the grounds that they have not been fully debated. At the legal level, former CFTC officials pointed out that the rules had full legal force as long as they were drafted in accordance with the Code of Administrative Procedure, no matter how many members voted in favour of them — the advantage of a single-member body was that decision-making was faster, but the risk was that lack of compromise could lead to further errors. In addition, the Trump family encryption company ' s financial disclosure revealed hundreds of billions of dollars of bitcoin and Ethera, and the Health Markets Association CEO Tyler Gellasch stated that politics is cyclical and that the stronger the wind today, the more likely the industry is to face a political hurricane in the future. It is a matter of concern that the decision, if applied under a future Democratic Party Government opposed to encryption, could remove dissenting voices and undermine the capacity of public accountability institutions. Parliament is currently considering a landmark bill to allocate authority over digital assets to the SEC and CFTC, and the MPs have urged Trump to appoint more CFTC members to move the legislative process forward。