最高法院授予总统权力解雇 SEC 和 CFTC 委员

美国最高法院周一裁定，总统可以无须理由解雇独立联邦机构的专员，这项6比3的判决在特朗普诉斯劳特案中推翻了1935年汉弗莱遗嘱执行人案先例。该裁决源于特朗普总统2025年解雇民主党联邦贸易委员会委员丽贝卡·斯劳特的无因解雇案。这一决定将证券交易委员会和商品期货交易委员会——加密货币的主要市场监管机构——置于总统直接控制之下，而另一项5比4的裁决（特朗普诉库克案）则维持了美联储的独立性。

首席大法官约翰·罗伯茨为保守派多数撰写意见，法院的三位自由派大法官持异议。该裁决废除了汉弗莱遗嘱执行人案——1935年曾禁止总统除有原因外解雇机构专员的判例。

最高法院裁决将SEC和CFTC置于总统控制之下

尽管本案涉及联邦贸易委员会，但其逻辑延伸至每一个行使行政权力的多成员机构，包括证券交易委员会和商品期货交易委员会。两者现在都处于总统直接控制之下。SEC和CFTC是制定和执行数字资产市场规则的机构。由于专员可被随意解雇，其领导层现在更直接取决于谁占据白宫。

SEC目前有三名共和党专员，无民主党人，而CFTC由一位孤立的共和党主席领导，使得两机构的方向几乎不存在党派制衡。这一结果也重塑了围绕《清晰法案》（CLARITY Act）的争斗。该法案将合法化美国大多数加密货币活动，并授予SEC和CFTC对其的广泛权力。

Federal Reserve Retains Independence in Companion Ruling

A companion 5-4 decision in Trump v. Cook carved out the Federal Reserve, preserving its independence and blocking the removal of Fed Governor Lisa Cook. The ruling distinguishes the Federal Reserve from other independent agencies, maintaining its separate status.

Crypto Venture Firm Paradigm Funded Legal Challenge

The dispute was entangled with the industry from the start. Slaughter’s husband serves as policy chief at Paradigm, a major crypto venture firm that helped fund the legal challenge as it climbed to the Supreme Court. The case was bankrolled in part by crypto venture firm Paradigm.

FAQ

What did the Supreme Court rule in Trump v. Slaughter?

The Supreme Court ruled 6-3 on Monday that presidents can fire commissioners of independent federal agencies without cause. The decision overturns the 1935 Humphrey’s Executor precedent that had barred presidents from removing agency commissioners except for cause. Chief Justice John Roberts wrote for the conservative majority, with the court’s three liberal justices dissenting.

How does the Supreme Court ruling affect crypto regulation?

The ruling places the Securities and Exchange Commission and Commodity Futures Trading Commission under direct presidential control. Both agencies write and enforce rules for digital-asset markets. With commissioners removable at will, their leadership now turns more directly on who occupies the White House. The SEC currently has three Republican commissioners and no Democrats, while the CFTC is led by a lone Republican chairman.

What role did the crypto industry play in the Supreme Court case?

Crypto venture firm Paradigm helped fund the legal challenge as it climbed to the Supreme Court. Rebecca Slaughter’s husband serves as policy chief at Paradigm. The case was bankrolled in part by the crypto venture firm.