ANALYSIS: Have Industry and Trump Made Crypto a Major Question?

In a post-Chevron world, the lack of agency deference makes an SEC about-face under Trump to embrace digital assets more nuanced, but not impossible.

But what if the major questions doctrine, first raised by crypto stakeholders against the Biden administration’s enforcement actions, could prevent new regulation until Congress legislates? Legislation is likely, given the priorities of the House Financial Services Committee and Senate Banking Committee Chairs. But if it’s a hot topic in Congress, interim agency action may get more pushback in court.

On Nov. 4, 2024, Crypto Was Not a Major Question

Prior to the 2024 presidential election, ...