U.S. President Donald Trump has nominated Eric Tung for a position on the Ninth Circuit court. This nomination may affect rulings in cases related to cryptocurrency.
Brief Biography of Eric Tung
Eric Tung has been a partner at the law firm Jones Day since 2019, representing digital currency firms. He worked with the Blockchain Association in a case against the U.S. Treasury Department, and represented an investor in a lawsuit against HDR Global Trading Limited, the parent company of BitMEX.
Criticism of Tung's Nomination
Tung's nomination has faced criticism from Accountable.US, which claims he may support deregulating digital assets. They noted that he has represented crypto firms and advocated against regulation throughout his career.
Impact on the Crypto Industry
If confirmed as a federal judge, Tung would oversee appeals in cases involving Silicon Valley businesses, including many cryptocurrency companies. This appointment could significantly influence the future regulation of the crypto industry in the U.S.
Eric Tung's nomination to the Ninth Circuit raises important questions about the future regulation of cryptocurrencies and how judicial rulings could impact the industry as a whole.
