Friday's U.S. Supreme Court Ruling Overturning Chevron Principles Could Be Favorable for Cryptocurrencies

Supreme Court justices voted 6-3 on Friday to overturn the Chevron doctrine, and Amanda Tuminelli, chief legal officer of the DeFi Education Fund, said, "This ruling means that administrative agencies like the SEC and CFTC will need to be more careful about expanding their regulatory reach without explicit statutory authorization, especially in emerging and rapidly developing areas like crypto and AI. statutory authority, especially in new and rapidly evolving areas such as crypto and artificial intelligence."

The Chevron doctrine, which originated in 1984 in the case of Chevron USA, Inc. v. Natural Resources Defense Council. In that case, the Supreme Court set forth a legal test that courts should defer to federal agency interpretations when the law is ambiguous.