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<ul> 
 <li><strong>The US Supreme Court’s decision in Loper Bright vs. Raimondo redefines the regulatory authority of federal agencies over the crypto industry.</strong></li> 
 <li><strong>The ruling challenges the SEC’s oversight powers, potentially encouraging more legal challenges against the agency.</strong></li> 
</ul>  
<h2 id="supreme-court-decision-signals-new-era-for-crypto-regulation">Supreme Court Decision Signals New Era for Crypto Regulation</h2> 
<p>The delay in US crypto regulation has been a widely acknowledged issue, with the Biden administration’s unfriendly stance towards digital assets stifling industry growth. However, a recent Supreme Court decision <a href="https://www.ethnews.com/ai-revolution-in-bitcoin-mining-a-strategic-pivot-towards-sustainability/">may alter</a> this dynamic by questioning the authority of federal agencies. This ruling is a pivotal moment for the sector, redefining regulatory powers and offering a fresh outlook for crypto companies.</p> 
<h2 id="redefining-regulatory-powers">Redefining Regulatory Powers</h2> 
<p>Armed with a gavel, a Supreme Court judge’s decision to strike down the Chevron deference marks a significant shift in the balance of power between the judiciary and the executive branches of the US government. This historic ruling concludes nearly four decades during which courts adhered to federal agencies’ interpretations of ambiguous regulations.</p> 
<p>“Chevron is void,” the court declared on June 28, opening the door to more frequent legal challenges against these agencies’ decisions. This move redefines the framework within which crypto regulation operates, potentially reinvigorating the industry as it awaits the possible return of a pro-Bitcoin administration under Donald Trump.</p> 
<h2 id="sec-and-web3-a-contested-authority">SEC and Web3: A Contested Authority</h2> 
<p>For the Web3 and blockchain world, this decision represents a substantial disruption. The Loper Bright case has highlighted the SEC’s tendency to overstep its authority as the crypto watchdog. Joanna Wasick, an attorney at BakerHostetler, <a href="https://www.ethnews.com/contrasting-investment-patterns-etf-outflows-vs-custodial-wallet-accumulations-in-bitcoin/">pointed out</a> that Loper Bright’s lawyer, Paul Clement, explicitly used cryptocurrencies as an example to demonstrate how the SEC exceeds its powers.</p> 
<p>The Supreme Court’s ruling could embolden more companies to contest the SEC’s decisions, influencing high-profile cases like Coinbase vs. SEC. Jim Lundy, former Senior Counsel at the SEC, praised the decision, arguing that the Chevron deference was overly broad and needed to be curtailed.</p> 
<h2 id="international-perspectives-on-crypto-regulation">International Perspectives on Crypto Regulation</h2> 
<p>Globally, the decision has caught the attention of regulators, particularly in Europe, where the Markets in Crypto-Assets Regulation (MiCA) framework was recently implemented. Annabelle Rau, a Germany-based attorney, noted that this step could dismantle regulatory hurdles by limiting the SEC’s interpretative powers, which the CFTC increasingly challenges, thereby promoting innovation in digital asset tokenization.</p> 
<p>While MiCA is not particularly favorable for stablecoins, it aims to create clear regulations and balance innovation with oversight—an objective the United States might now achieve with this new judicial perspective.</p> 
<p>The Supreme Court’s decision ushers in promising prospects for the crypto industry, presenting a unique chance to <a href="https://www.ethnews.com/bitcoin-ascends-to-political-center-stage-globally/">reevaluate</a> and strengthen regulation. Crypto companies can now look forward to a more stable and predictable regulatory environment, fostering innovation and the adoption of blockchain technologies.</p> 
<p>The post <a href="https://www.ethnews.com/us-supreme-court-reshapes-crypto-regulation-framework/">US Supreme Court Reshapes Crypto Regulation Framework</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.</p>

US Supreme Court Reshapes Crypto Regulation Framework

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