According to BlockBeats, on October 10, according to Cointelegraph, U.S. Congressman Tom Emmer said that unless Congress passes legislation to limit the regulatory authority of federal agencies, overturning the Chevron principle will have limited impact on cryptocurrency regulation. Only if the Republicans win the upcoming election can this ruling have a substantial impact on the crypto industry.
According to previous news, in June, the U.S. Supreme Court overturned one of its most important precedents, the Chevron Principle. The Chevron Principle is part of U.S. administrative law and gives federal agencies the power to interpret laws when they are vague. This ruling has a significant impact on the rule-making ability of the U.S. Securities and Exchange Commission (SEC) and other federal agencies, depriving them of the power to interpret vague laws through rulemaking, which means that U.S. courts no longer need to "follow" the opinions of federal agencies such as the U.S. Securities and Exchange Commission (SEC) when interpreting ambiguous regulations.
In addition, the U.S. Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI), and the Department of Justice (DOJ) have filed fraud and market manipulation charges against several crypto companies and individuals.
