Supreme Court Ruling May Interfere With SEC’s Crypto Crackdown

July 4,2022

SEC Chair Gary Gensler’s campaign to enforce more regulation upon the crypto industry might have more legal obstacles than previously anticipated.

The Supreme Court’s recent opinion on the West Virginia vs. EPA lawsuit had results that would likely limit or restrict the power of agencies like the SEC on things that are usually outside of Congressional control.

Crypto industry advocates are welcoming this as many have claimed that the SEC is guilty of over-regulation in recent years that has stifled innovation and growth within the crypto industry.

As a result, further regulation may need more approvals from Congress depending on how the results of this case impacts the regulation process.

Recent actions by the SEC include situations where the agency is trying to control the crypto lending industry where it had targeted firms such as BlockFi and Coinbase.

Specifically in this case, it prevented Coinbase from getting into crypto lending in the first place and it made BlockFi pay a $100 million settlement.

Moar: https://procoinnews.com/supreme-court-ruling-may-interfere-with-secs-crypto-crackdown/