In a major move, the US Supreme Court's Loper Bright vs. Raimondo overturns a decades-long precedent. A June 28 ruling leveled the playing field between the court and the executive branch. The consequences span technology, banking, and beyond.
The crypto and blockchain sectors stand to benefit greatly. The judgment encourages more businesses to fight regulatory bodies. This would guarantee a fairer battle in court. Experts see this as a critical step toward correcting alleged overreaches by the Securities and Exchange Commission (SEC) and spurring congressional action on crypto reform.
Agencies such as the SEC must now tread carefully. Their rule-making authority is now limited by the requirement for clear, unequivocal standards. While not a complete shift in governmental control, this step boosts industry players like Coinbase and Consensys who are already challenging regulatory constraints.
The decision has created a buzz in the sector, with many hailing it as a watershed event in technology policy. However, its impact, while enormous, has limitations, prompting policymakers to approach rulemaking with caution.
