TechFlow news, according to Cointelegraph, U.S. Congressman Tom Emmer stated that unless Congress passes legislation limiting federal agencies' regulatory authority, the impact of overturning the Chevron doctrine on cryptocurrency regulation will be limited. Only if Republicans win in the upcoming elections can this ruling have a substantial effect on the crypto industry.
Previously, in June, the U.S. Supreme Court overturned one of its most significant precedents—the Chevron doctrine. The Chevron doctrine is part of U.S. administrative law that grants federal agencies the power to interpret laws when they are ambiguous. This ruling significantly affects the rulemaking abilities of the U.S. Securities and Exchange Commission (SEC) and other federal agencies by stripping them of the authority to interpret vague statutes through rulemaking. It means U.S. courts no longer need to defer to opinions from federal agencies such as the SEC when interpreting ambiguous regulations.
In addition, the U.S. Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI), and the Department of Justice (DOJ) have filed charges of fraud and market manipulation against multiple cryptocurrency companies and individuals.
