Recently, the U.S. Supreme Court overturned a rule that allowed government agencies like the SEC to interpret laws on their own.
This could be beneficial for crypto because the main complaint against the SEC was their subjective interpretation of laws. Combined with regulatory uncertainty, projects were constantly in a vulnerable position, susceptible to penalties and sanctions for issues they couldn’t foresee.
Previously, courts had to agree with the agencies’ interpretations of ambiguous laws. Now, that will change. The judges made this decision by a majority vote of 6 to 3.
Some believe this decision takes power away from experts and hands it to judges. Now, the SEC won’t be able to abuse its authority as easily.
Amanda Tuminelli from DeFi Education Fund believes that agencies will now act more cautiously, especially in new and rapidly changing fields like cryptocurrencies.
What to Expect in the Near Future:
- This decision could prompt Congress to pass specific laws for regulating digital assets so that projects know what to prepare for.
- Last summer, the SEC filed lawsuits against Binance, Coinbase, and others, accusing them of providing unregistered services. The new Supreme Court decision could impact how these cases are handled, requiring clearer laws.
- For developers and investors, this means the SEC’s influence on cryptocurrencies is decreasing. However, new laws for this sector may appear soon.
It’s too early to relax, but the trend is definitely positive.
