The U.S. Supreme Court's ruling to overturn the Chevron principle may complicate cryptocurrency legislation efforts

ChainCatcher news, investment bank TD Cowen stated on Monday that the recent Supreme Court ruling overturning the Chevron principle may complicate cryptocurrency legislation efforts.

The report stated: After the Supreme Court's action, there is a general belief that the ruling is favorable to the cryptocurrency industry. We partially agree with this view, as it will help the cryptocurrency industry challenge the rules and enforcement of the U.S. Securities and Exchange Commission in the future. However, this does not change any past rulings nor will it reconsider previous decisions.

The report argues that a bigger question is what this decision means for lawmakers hoping to enact legislation to regulate the industry and stablecoins. Analysts stated, "We are discussing details that are typically not seen in legislation, such as what happens when retail investors participate in staking programs on trading platforms, or how AML/BSA controls would apply if tokens have previously hidden their origins through mixers. Both sides are no longer willing to heed the opinions of regulators, as the courts may now conduct secondary reviews of these decisions."