The Supreme Court's decision in the Loper Bright case favored the crypto industry, leading to a significant blow to the SEC's authority regarding crypto regulations. Paxos and Binance faced repercussions after being forced to shut down a stablecoin, with the SEC's stance on stablecoins as securities being questioned.
Congrats to @Paxos! Another L for SEC. These actions cause damage to honest players in our industry - we need to call them out. Shameful Enforcement Clowns gonna keep losing. https://t.co/L34d3ePH83
SEC’s seemingly walking back its frankensteined theory that stablecoins are securities after a big loss in the Binance litigation. Its attempt to seize jurisdiction over crypto markets by subjecting industry participants to expensive legal battles is backfiring tremendously. https://t.co/0QFfBFLLxJ
The crypto industry notched another win against the U.S. SEC, scoring a de-factor admission that stablecoins are not securities https://t.co/RHg2JBopGO