The Supreme Court has delivered a major blow to federal agencies’ ability to make laws. This ruling has significant implications for the crypto industry, potentially weakening the SEC’s regulatory authority.
Benefits for the Crypto Industry
The Court’s decision overturns a precedent that allowed agencies like the SEC to interpret ambiguous laws through rulemaking. This means courts will now have more power to decide if agencies have overstepped their authority.
Impact on Ripple Case
Ripple, facing an SEC lawsuit, may benefit from this ruling. The judge in the case will now have more independence in interpreting the laws related to cryptocurrencies.
SEC’s Case Against Coinbase
Experts believe the Supreme Court’s ruling could weaken the SEC’s case against Coinbase. The SEC’s argument that crypto assets are securities under the Howey Test may be undermined by the ruling.
Ambiguity in Crypto Law
Experts argue that the laws governing cryptocurrencies are ambiguous. This ambiguity makes it crucial for courts to have the power to independently interpret these laws, as emphasized by the Supreme Court’s decision.
