The U.S. Supreme Court overturned a 40-year-old case that allowed federal regulators the power to enforce interpretations of vague laws. This could make it difficult for the SEC to pursue its enforcement agenda amid legal and regulatory uncertainty for the crypto industry. 😱

1984's Chevron v. The National Resources Defense Council case noted that when the language of statutes is unclear, courts should seek the judgment and expertise of regulators. This gave federal regulators the authority to enforce their interpretation of the law. 🏛️

But with Friday's ruling, Chief Justice John Roberts called the Chevron doctrine "unworkable" and said, "Chevron creates instability in the law that it does not deserve, leaving those trying to plan around agency action in a perpetual fog of uncertainty." 😮

This could impact the SEC's aggressive and far-reaching enforcement agenda on the crypto industry. The SEC sued crypto companies such as Coinbase, Ripple, Binance, and Kraken, claiming that these companies violated federal securities laws by providing purchasing and trading services for cryptocurrencies that are considered unregistered securities. 🚀

This decision was another blow to the powers of federal regulators. The court on Thursday restricted the SEC from using internal administrative judges to resolve civil fraud cases. 🤔

What impact do you think this will have on the crypto industry? I'm waiting for your comments!#DeFi#Web3 🚀🌐