Eric Tung Nominated for Ninth Circuit Court of Appeals
Eric Tung, a prominent corporate attorney recognized for his work with cryptocurrency companies, is on the verge of joining the Ninth Circuit Court of Appeals, one of the most pivotal federal courts in the United States. On Tuesday, President Donald Trump officially nominated Tung for the judgeship, which encompasses several states, including California, Arizona, and Nevada.
Background and Legal Experience
As a partner at the prestigious law firm Jones Day since 2019, Tung has been involved with numerous clients in the digital currency sector. Notably, he represented the Blockchain Association in a legal battle against the US Treasury Department initiated by users of Tornado Cash. Additionally, he took on a case against HDR Global Trading Limited, the entity behind the BitMEX exchange.
Implications of Confirmation
If confirmed, Tung’s role would likely involve adjudicating appeals that relate to tech companies, particularly those engaged in cryptocurrency operations. This is particularly significant given the increasing number of technology firms that choose to appeal in the Ninth Circuit.
Concerns from Watchdog Groups
The prospect of Tung’s confirmation has raised eyebrows among watchdog groups. Accountable.US recently expressed concerns, alleging that his history suggests support for deregulation in the digital asset sector, aligning with the broader deregulatory trends promoted by Trump’s administration. This comes in the context of substantial shifts in the leadership of financial regulatory bodies, including the US Securities and Exchange Commission, which oversees digital assets.
Criticism of Tung’s Background
Critics point to Tung’s background, highlighting his involvement in various cases advocating for crypto firms, such as representing a stablecoin provider in urging that standalone sales of stablecoins should not be categorized as securities, and opposing regulations on immutable smart contracts.
Senate Review and Legislative Context
As of now, Tung’s nomination is under review by the Senate Judiciary Committee. However, it’s uncertain when the Senate will vote on his potential appointment, especially since legislative attention has been diverted towards several pending bills concerning digital assets.
Historical Significance of the Ninth Circuit
Historically, the Ninth Circuit has been a critical venue for significant cryptocurrency cases. For instance, in 2024, a panel there partially overturned a class-action lawsuit claiming that Binance.US had engaged in price manipulation of Hex (HEX). Moreover, in 2018, Nvidia faced scrutiny in the Ninth Circuit from shareholders over undisclosed sales related to crypto miners.
Conclusion
As implications of Tung’s potential confirmation loom, expect further developments as the Senate’s hearings progress.
