The conservative members of the U.S. Supreme Court sided with two majority opinions that could have lasting implications for federal agencies to enforce laws.
In the last seven days, the Supreme Court of the United States has released two opinions that could have lasting implications for how the U.S. Securities and Exchange Commission handles enforcement actions against companies, including crypto firms.that defendants in an SEC civil case concerning securities fraud are entitled to a jury trial rather than strictly adjudication by an administrative law judge.
“This has direct implications for the crypto industry,” Crypto Council for Innovation CEO Sheila Warren told Cointelegraph. “The role and firepower of regulators, like the SEC, is in question if courts have the ability to step in.”“ake no mistake, Supreme Court decision imposes clear limits on the regulatory overreach that has hampered innovation in crypto in the United States.”decision, Justice Sonia Sotomayor referred to the majority opinion as a “power grab” over policymaking in the U.S.
“With these rulings, the Supreme Court has not only succeeded in upending half a century of important legal precedent, known as the Chevron doctrine, but has also made it much easier for big, wealthy corporations to benefit at the expense of ordinary people and escape civil penalties,” said Representative Maxine Waters on June 28 in response to the SCOTUS opinions.
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