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Crypto executives cheered the news and welcomed the new team, saying the pair would end the Biden administration's crackdown and promote innovation. But some Washington analysts said the creation of a crypto czar, a new role, sowed ambiguity over who would drive crypto policy and flagged the potential for policy clashes.

While TikTok argued that the law unfairly singled out the company and that a ban would infringe on the free speech rights of American users, the judges said that the law was "carefully crafted to deal with only control by a foreign adversary," and that it did not run afoul of the First Amendment. The ruling acknowledged that Americans would "lose access to an outlet for expression, a source of community and even a means of income," but that Congress weighed those risks against national security concerns.

On Friday, the Financial Stability Oversight Council (FSOC) recommended that Congress pass legislation "providing federal financial regulators with explicit rulemaking authority over the spot market for crypto assets that are not securities." It also urged lawmakers to approve rules creating a federal framework for stablecoin issuers.

Last month, FERC rejected in a 2-1 vote a request to increase the capacity of an Amazon data center located on the site of a Talen Energy nuclear power plant in Pennsylvania, after raising questions about how diverting nuclear electricity to serve the center would affect the broader grid.

The lawsuit parallels a case that Washington, D.C.'s attorney general filed earlier this week accusing Amazon of violating the city's consumer protection provisions. Amazon in a statement said the claims were "categorically false." Amazon said it made a business decision to adjust operations in the affected zip codes for the safety of the company's drivers.