In a significant decision, U.S. Supreme Court justices voted 6-3 on Friday to overturn the Chevron Deference rule, a 40-year-old regulation allowing administrative agencies to interpret ambiguous or incomplete congressional legislation by creating legislative rules.
Cryptocurrency industry experts hailed the ruling as a victory. Amanda Tuminelli, Chief Legal Officer of the DeFi Education Fund, stated, “This decision means that agencies like the SEC and CFTC will need to carefully expand their regulatory scope, especially in emerging and rapidly evolving fields such as crypto and AI.”
Majority Whip Tom Emmer noted its direct impact on SEC Chairman Gary Gensler, saying, “The Supreme Court’s decision to overturn Chevron weakens Gensler and others’ unchecked regulatory abuses through rulemaking without electoral oversight.”
Tags:
SEC
Cryptocurrency
Regulation
Source Link:
https://www.theblock.co/post/302634/us-supreme-court-ruling-to-overturn-chevro…
Original Article Link:
https://www.bitpush.news/articles/6911541