According to Odaily, investment bank TD Cowen stated on Monday that the recent decision by the US Supreme Court to overturn the Chevron principle could complicate the work of crypto legislation. The report suggested that the ruling is generally perceived as beneficial to the cryptocurrency industry. This view is partially agreed upon as it could aid the cryptocurrency industry in challenging the rules and enforcement of the US Securities and Exchange Commission in the future. However, it does not alter any past rulings, nor will it reconsider previous decisions.
The report further highlighted that the bigger issue is what this decision means for legislators who wish to enact laws to regulate the industry and stablecoins. Analysts pointed out that they are discussing details that are usually not seen in legislation, such as what happens when retail investors participate in the pledge program of trading platforms, or if tokens have ever hidden their source through a mixer, how AML/BSA controls will apply. Both parties are no longer willing to listen to the opinions of regulatory agencies, as the court may now review these decisions.
