Stuart Alderoty, Ripple's Chief Legal Officer, believes the June 2024 overturn of Chevron USA Inc. won't significantly impact the SEC's stance on cryptocurrencies.

Stuart Alderoty's Statement

In an interview with Cointelegraph, Alderoty emphasized that only a leadership change would alter the SEC's crypto policies. He also voiced concerns over the damage to SEC's reputation under current leadership.

This SEC, under this leadership, I don't think they much care if they're right or wrong as a matter of law.Stuart Alderoty

Implications of Loper Bright vs. Raimondo

On June 28, 2024, the United States Supreme Court overturned the 40-year precedent set by the Chevron case in Loper Bright Enterprises vs. Raimondo. This shifted how courts defer to regulatory agencies.

Impact on the Crypto Industry

For the nascent crypto industry, this means facing stringent regulatory requirements from multiple regulators, stifling innovation and deterring investment. In July 2024, Uniswap Labs referenced the Chevron overturn as a counter to the SEC's proposed expansion of the legal definition of an 'exchange' under the 1934 Act.

While the Chevron overturn may influence some regulatory aspects, experts believe fundamental changes in SEC policy will only occur with leadership changes.