United

Uniswap

Test

<p>In a significant move, the United States Supreme Court has issued a ruling that limits the authority of federal agencies, including the Securities and Exchange Commission (SEC) to interpret laws deemed “ambiguous” through the rulemaking process. Given this development, the question is: is this ruling a victory for the crypto industry, and if so, how does it benefit the sector?</p> 
<h2 id="benefits-from-supreme-court-ruling">Benefits From Supreme Court Ruling</h2> 
<p>The 6-3 decision of the Supreme Court <a href="https://x.com/EleanorTerrett/status/1806699140170096766" target="_blank" rel="noopener nofollow">overruled </a>the Chevron deference, a 1984 precedent that granted agencies discretion in interpreting congressional laws.&nbsp;</p> 
<p>Justice John Roberts <a href="https://x.com/EleanorTerrett/status/1806699140170096766" target="_blank" rel="noopener nofollow">emphasized </a>the importance of independent judgment by courts in determining whether agencies have acted within their statutory authority. The ruling, which cites the Administrative Procedures Act (APA), rejects the notion of blanket deference to agency interpretations solely based on statutory ambiguity.</p> 
<p>Notably, the ruling has implications for ongoing legal battles within the crypto industry. Ripple, currently facing a lawsuit from the SEC, stands to benefit from the curtailed agency rulemaking authority. Judge Torres, presiding over the Ripple case, will now have greater independence in interpreting the relevant laws.&nbsp;</p> 
<p>Similarly, major industry players like Coinbase and Uniswap Labs, who recently received Wells Notices from the SEC, may find themselves in a more favorable position as the SEC’s case relies heavily on the interpretation of the Howey Test.</p> 
<h2 id="industry-experts-question-sec-s-crypto-cases">Industry Experts Question SEC’s Crypto Cases</h2> 
<p>Market expert Scott Melker <a href="https://x.com/scottmelker/status/1806703032014401753" target="_blank" rel="noopener nofollow">highlights </a>the potential impact of the Supreme Court ruling on the SEC’s case against Coinbase. Melker argues that the SEC’s case, largely based on the application of the Howey Test to crypto assets, could be rendered irrelevant in light of the ruling.&nbsp;</p> 
<p>If the SEC cannot claim that crypto assets are securities under the Howey test, Melker said, it raises questions about the foundation of its case against Coinbase.</p> 
<p>Ben Lilly of Jarvis Labs also <a href="https://x.com/MrBenLilly/status/1806705458658369802" target="_blank" rel="noopener nofollow">contends </a>that the securities law and statutes pertaining to cryptocurrencies are ambiguous. This ambiguity further highlights the importance of independent judicial interpretation, as emphasized by the Supreme Court ruling.&nbsp;</p> 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/ian2WGDi/" alt="Crypto" width="1814" height="858"> 
<p>Featured image from DALL-E, chart from TradingView.com&nbsp;</p>

Legal Win For Crypto? Supreme Court Decision Restricts SEC’s Lawmaking Reach

目錄

Bitcoinist

在 2024年6月28日發表的其他文章

Coinbase Shares Spike After Company Unveils Stripe Collaboration To Streamline Crypto Payouts

BREAKING! Leading Inflation Data Followed by FED Has Been Announced! What Was the First Reaction ...

The Rise of NFTs: Shaping the Next Era of Digital Ownership

T-Rex Roars with 2X MicroStrategy ETF ‘Ghost Pepper’

Donald Trump’s Odds Of Winning Surges To 63%, Musk Says “Memes” Clear Winner

21Shares files spot Solana ETF with SEC

訂閱免費電子報，每天收取加密貨幣最新動態！