The end of Chevron deference is a ‘power shift’ for investors
By Sam Taube | NerdWallet
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
What do fishing, air pollution and Bitcoin have in common? Maybe just one thing: Until recently, they were all regulated by a powerful legal doctrine known as Chevron deference.
But in late June, a fishing-related Supreme Court case, Loper Bright Enterprises v. Raimondo, brought an end to Chevron deference. Experts say the decision could cause substantial changes to financial rules — especially when it comes to cryptocurrency. Here’s what investors should know.
What was Chevron deference?
The term “Chevron deference” comes from a 1984 Supreme Court case, Chevron U.S.A. Inc. v. Natural Resources Defense Council Inc. That case hinged on whether the Environmental Protection Agency (EPA) was allowed to modify factory emissions regulations that were derived from a broadly worded air pollution law.
