TD Cowen Supreme Court Reversal of Chevron Decision May Complicate Crypto Legislation

The report suggests that a bigger issue is what this decision means for lawmakers who are hoping to enact legislation to regulate the industry and stablecoins. Analysts say, “We are talking about details that are not usually seen in legislation, such as what happens when retail investors participate in trading platforms’ staking programs, or how AML/BSA controls would apply if tokens have been through a mixer to hide their origins. Both sides are no longer willing to heed regulatory agencies’ opinions, as courts may now subject these decisions to a second review.”