Trump’s Judicial Nominee Eric Tung and Cryptocurrency Regulation
Eric Tung, a corporate lawyer with extensive experience representing cryptocurrency firms, has been nominated by President Donald Trump for a judgeship on the Ninth Circuit Court. This court oversees Silicon Valley, a key region for technology and digital asset companies, positioning it as a pivotal forum for cryptocurrency-related cases.
Legal Background and Potential Impact
Tung has represented the Blockchain Association in litigation against the U.S. Treasury Department and an investor in a case involving BitMEX‘s parent company. His nomination sparks debate about the future direction of cryptocurrency regulation, particularly given the Trump administration’s deregulatory stance toward digital assets.
Watchdog Concerns and Industry Reactions
The watchdog group Accountable.US voiced apprehension that Tung’s judicial appointment might advance policies favoring reduced oversight of digital assets. “Tung’s career has focused on helping crypto companies navigate around government regulations,” the organization stated in a recent release.
Notable Cryptocurrency Cases in the Ninth Circuit
- A 2024 judicial panel partially overturned a class-action suit accusing Binance.US of manipulating HEX token prices
- Nvidia faced Ninth Circuit scrutiny regarding undisclosed GPU sales to cryptocurrency miners
Next Steps in the Confirmation Process
Tung’s nomination now awaits consideration by the Senate Judiciary Committee. With Congress currently prioritizing digital asset legislation, the confirmation timeline remains uncertain. The outcome could significantly influence U.S. cryptocurrency regulation for years to come.
