Regulatory overreach has hindered innovation in cryptocurrency

lupafilotaxia - 2024-07-02 02:47:09

Heeding information socialized by Turner Wright, "Conservative members of the U.S. Supreme Court weighed in with two majority opinions that could have lasting implications for federal law enforcement agencies"

To wit, "In the past seven days, the U.S. Supreme Court (SC) has issued two opinions that could have lasting implications for how the U.S. Securities and Exchange Commission (SEC) handles enforcement actions against companies, including cryptocurrency firms"

It is worth noting that according to Sheila Warren, CEO of the Crypto Council for Innovation, "Make no mistake, the Supreme Court's decision imposes clear limits on the regulatory overreach that has hindered cryptocurrency innovation in the U.S."

It is known that, "The impact of these decisions on the SEC bringing enforcement actions against cryptocurrency firms could mean an overwhelmed court system. According to Joseph Lynyak, a partner at international law firm Dorsey & Whitney, courts following the TSE's reversal of the Chevron doctrine."

What is certain is that, "With these decisions, the Supreme Court has not only succeeded in destabilizing half a century of important legal precedent, known as the Chevron doctrine, but has also made it much easier for large, wealthy corporations to profit at the expense of ordinary people and escape civil penalties."