New Court Ruling May Tie SEC’s Hands on Crypto
— Enforcement approach, Threatened, Virtually, Funded, Agencies, Existing set, First major crypto boom, Ability, Daily updates, Chamber — 1 min read
The 6-3 ruling was on a case involving the Environmental Protection Agency’s ability to regulate air pollution. The court remanded a regulation that would cap carbon dioxide emissions at a level that would drastically reduce the amount of coal-powered electricity to a federal appeals court. This may well have an impact on the cryptocurrency industry, which is being regulated by agencies that are trying to force it into an existing set of regulations that it does not fit, crypto industry advocates have been arguing for years. The industry objects to the SEC's ruling that virtually all cryptocurrencies are securities subject to its jurisdiction. That has led to enforcement actions that effectively shut down the initial coin offering (ICOs) that funded the growth of the industry during the first major crypto boom. Source