Opinion: Neil Gorsuch, Brett Kavanaugh and Amy Coney Barrett could lend crypto a helping hand if SEC lawsuits make it to the Supreme Court.
When the leaders of the American Revolution signed the Declaration of Independence on July 4, 1776, they had no guarantee of victory. The battle for independence was underway, and their prospects were uncertain. Despite occasional victories, these audacious freedom fighters were grossly outnumbered and had difficulty retaining volunteer soldiers. Their commitment to the cause of freedom was their only fighting chance.industry is in a similar predicament.
This doctrine is not new nor untested. When the Food and Drug Administration attempted to regulate cigarettes, justifying action by defining them under the FDA’s authority over drugs, the Supreme Court struck down the agency’s overreach. The court pointed out that nicotine, while technically a drug, did not fall under the palliative class of drugs Congress had intended when creating the FDA.
Actually, it’s far worse. The “economic and political significance” of falsely claiming authority over all digital assets other than BTC is not just “staggering,” but untethered to the fundamental requirement that there be enforceable rights between enterprise and purchaser. 2/3SEC Chairman Gary Gensler’s apologists argue that the securities laws from the 1930s have successfully adapted to the internet era, hence they can adapt to crypto as well.
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