Buckle up, crypto junkies, because the Supreme Court just dropped a bombshell that’s about to send shockwaves through the entire industry. If you’ve got skin in the crypto game, you need to pay attention, because these rulings could make or break your portfolio.
In a one-two punch, SCOTUS has released two majority opinions that are set to kneecap the SEC’s power to regulate crypto. As Ana Paula Pereira reports for Cointelegraph, the court’s conservative members have sided with opinions that could have “lasting implications for federal agencies to enforce laws.”
First up, in SEC v. Jarksey, the court ruled that defendants in SEC civil cases are entitled to a jury trial, not just an administrative law judge. As Pereira notes, this seemingly equates “an SEC civil case involving securities fraud to a criminal case involving fraud.”
But the court wasn’t done yet. In Loper Bright Enterprises v. Raimondo, they overturned a decades-old ruling that gave federal agencies like the SEC broad authority to interpret the law. Now, lower courts will have to “exercise their independent judgment” on whether agencies are acting within their statutory authority.
Make no mistake, [the] Supreme Court decision imposes clear limits on the regulatory overreach that has hampered innovation in crypto in the United States.
Sheila Warren, CEO of the Crypto Council for Innovation
So what does this mean for you? It means that the SEC’s days of running roughshod over crypto companies could be coming to an end. It means that if the SEC tries to come after a crypto firm, that firm will have a much better chance of fighting back and winning in court.
But it also means that the regulatory landscape for crypto is about to get a whole lot more complicated. With the Chevron doctrine overturned, we could see a patchwork of conflicting lower court rulings that make it harder for companies to navigate.
The bottom line? These SCOTUS rulings are a game-changer for crypto regulation. If you’re invested in this space, you need to stay on top of how this plays out. Keep a close eye on any SEC enforcement actions against crypto firms, and be ready to adjust your strategy as the legal landscape shifts.
This is just the beginning of what’s sure to be a long and messy battle over crypto regulation. But one thing’s for sure – with the Supreme Court putting limits on the SEC’s power, the future of crypto in the US just got a whole lot brighter.
Stay ahead of the game – click here to read Pereira’s full report on Cointelegraph and arm yourself with the knowledge you need to thrive in the new era of crypto regulation.
