PANews reported on June 28 that according to Fox Business Channel reporter Eleanor Terrett, the Supreme Court voted 6 to 3 to overturn#Chevrondeference, a 1984 precedent that holds that when congressional laws are "ambiguous," federal judges should defer to "reasonable" federal agency discretion.
Chief Justice John Roberts wrote in the opinion: "Courts must exercise their independent judgment in determining whether an agency is acting within its statutory authority, as required by the Administrative Procedure Act (APA)...Courts are not required to, and cannot, under the APA defer to an agency's interpretation of a statute simply because it is ambiguous."
The ruling limits the power of federal agencies, stripping them of the authority to interpret vague laws through rulemaking. It is a major victory for cryptocurrency and other industries that have been affected by unlimited rulemaking by agencies like the U.S. Securities and Exchange Commission (SEC), giving judges more power to interpret the law.
