As Donald Trump prepares to run for re-election as President of the United States, his path back to the Oval Office is overshadowed by a major legal setback.
The Supreme Court of the United States on Thursday denied President-elect Donald Trump’s appeal to suspend the emergency state in New York against his criminal conviction, allowing the hearing to proceed as scheduled on Friday.
This ruling comes 10 days before Trump’s inauguration. In the past few weeks, he has been preparing to fulfill his promised goals related to cryptocurrency, including implementing digital asset regulation and promoting blockchain innovation during his term.
In a 5-4 decision, the majority of the court, including Chief Justice John Roberts and Justices Sonia Sotomayor, Elena Kagan, Amy Coney Barrett, and Ketanji Brown Jackson, deemed the burden brought by the conviction to be “relatively insignificant.”
Trump was convicted of 34 felonies in May 2024 for falsifying business records to hide hush money during his 2016 campaign.
The hearing will be conducted virtually and result in Trump’s “unconditional release,” meaning he will avoid imprisonment.
The court wrote, “The alleged evidentiary violations during the trial of President-elect Trump can be addressed through the normal course of appeal.”
Justices Clarence Thomas, Samuel Alito, Neil Gorsuch, and Brett Kavanaugh, who held differing opinions, did not provide explanations for their dissents.
Prosecutors argued that the payments made to adult film star Stormy Daniels were to suppress damaging allegations on the eve of the election.
Trump has repeatedly denied these allegations, calling the case “politically motivated” and a “political persecution.”
“This is simply our justice system weaponized against political opponents,” Trump wrote on his Truth Social platform, referring to the charges as “false” and “fabricated.”
The President-elect expressed gratitude for the efforts of the Supreme Court while criticizing the judges as “highly politicized and corrupt.”
According to a media report, he stated during a press conference held at Mar-a-Lago estate on Thursday, “We will appeal regardless, if only in spirit, because, frankly, this is a disgrace.”
The New York Times reported.
Trump’s Cryptocurrency Plans
As part of his re-election campaign, Trump has laid out ambitious plans for the cryptocurrency industry.
His proposals include establishing a national Bitcoin reserve, supporting domestic cryptocurrency mining, and opposing a central bank digital currency for the United States.
Last month, Trump announced the appointment of Paul Atkins, a former commissioner of the U.S. Securities and Exchange Commission (SEC), known for his friendly stance on cryptocurrencies, to lead the SEC.
Atkins will succeed outgoing SEC Chairman Gary Gensler, who faced criticism from the cryptocurrency industry for his aggressive enforcement actions and will resign after Trump’s inauguration.
Trump praised Atkins as a “respected leader in sensible regulation” and an advocate for financial market innovation.
These efforts have garnered widespread support from cryptocurrency advocates, who have repeatedly criticized the previous administration’s approach of “enforcement regulation.”
