The U.S. Supreme Court issued a ruling broadly recognising a president's power to dismiss commissioners of the Securities and Exchange Commission and the Commodity Futures Trading Commission. This allows U.S. President Donald Trump to wield stronger influence over key institutions for cryptocurrency regulation, and significant changes are expected in the U.S. digital asset regulatory framework.

On June 29 local time, blockchain media outlet Decrypt reported that the Supreme Court, in a 6-3 decision, overturned prior precedent that had allowed a president to dismiss commissioners of independent regulatory agencies only in exceptional circumstances.

The case involved a lawsuit over the dismissal of Rebecca Slaughter, a Democratic commissioner at the Federal Trade Commission. The ruling is interpreted as also affecting other independent regulators such as the SEC and CFTC. Federal Reserve governors were excluded from the scope of the decision.

The biggest change is that it effectively opens the way for a president to replace SEC and CFTC commissioners at any time. The two agencies had been viewed as regulators guaranteed a certain level of independence from politics, but the ruling is expected to significantly expand the executive branch's influence.

Trump said on his social media shortly after the ruling, "a decision that expanded presidential authority the most in the past 100 years," and called it "a monumental decision delivered at a very important moment."

The ruling is also drawing attention as it intersects with the CLARITY Act currently under discussion in the Senate. The bill seeks to overhaul the market structure for digital assets in the United States and broadly grant the SEC and CFTC authority to oversee the cryptocurrency market. Senate Democrats have said they could support the bill only with assurances that Trump would appoint Democratic figures to the two agencies.

Trump said in December last year that he was "open" to appointing Democratic figures, but has not made related personnel moves since then. The SEC is currently composed only of 3 Republican-leaning commissioners, with Democratic seats vacant. The CFTC is also said to be led by a Republican chairman.

In this situation, analysts say the Supreme Court ruling could weaken the effectiveness of the bipartisan check Democrats have demanded. Even if a Democratic-leaning commissioner is appointed, the opening for a president to dismiss them at any time makes it harder to use the composition of the agencies themselves as a bargaining chip.

That could make Senate negotiations over the CLARITY Act more complicated. The bill has entered its final legislative phase. People involved with the bill believe that if it is not passed by early August, legislative momentum could be significantly weakened ahead of the November midterm elections. Republican leadership is also maintaining its position that it will push for a floor vote next month regardless of whether Democrats agree to a deal.

Other issues remain beyond agency appointments. Democrats in particular are demanding that the bill include ethics provisions limiting conflicts of interest involving cryptocurrency businesses linked to Trump, and are presenting this as a key negotiating condition.

The industry believes the Supreme Court ruling has brought U.S. cryptocurrency regulation into a phase in which both legislation and executive authority are being reshaped at the same time.

Market attention is expected to focus on how Trump will actually handle personnel decisions at the SEC and CFTC, and whether the CLARITY Act can clear the Senate even without bipartisan agreement.