Eric Tung Nominated to Ninth Circuit in Pro-Crypto Shift
President Donald Trump has nominated Eric Tung, a partner at Jones Day known for representing blockchain clients, to the US Ninth Circuit Court of Appeals. The Ninth Circuit covers nine western states, including California and Washington, and hears major tech and crypto regulation cases. Tung has defended the Blockchain Association, Tornado Cash users, stablecoin issuers and investors suing BitMEX’s parent. His deregulation stance—arguing stablecoins are not securities and opposing smart contract limits—could reshape crypto regulation. The nomination aligns with recent shifts in SEC and CFTC leadership and faces review by the Senate Judiciary Committee. Pending appeals include challenges to the Tornado Cash sanctions and Binance.US HEX manipulation case. Traders should watch Tung’s confirmation: a pro-crypto Ninth Circuit may lower legal risks and bolster crypto regulation and market growth.
Bullish
Eric Tung’s nomination signals a shift towards deregulation in cryptocurrency oversight, likely boosting market sentiment. In the short term, traders may react positively to potential judicial decisions favoring blockchain firms, as pending appeals like the Tornado Cash sanctions and Binance.US HEX manipulation challenge could see more innovation-friendly interpretations. This reduced legal uncertainty can spur trading activity and attract institutional participation. Over the long term, a pro-crypto Ninth Circuit establishes legal precedents that may constrain enforcement agencies, harmonize regulatory frameworks and encourage new product launches, further supporting sustained growth. However, confirmation timelines and potential Senate pushback introduce some uncertainty. Overall, Tung’s pro-crypto stance and significant court influence make this development bullish, signaling lower legal risks and clearer paths for digital asset adoption.