Supreme Court Fishing Case May Hobble Agency Power on Climate to Crypto.

The US Supreme Court is considering two appeals that could limit agency power over workplace conditions, drug safety, climate change, and cryptocurrency. The appeals seek to overturn the Chevron doctrine, which allows federal agencies leeway in implementing unclear mandates from Congress. This potential shift could have significant implications for regulating new industries and issues, especially in the absence of congressional lawmaking. The fishing industry is involved in one of the cases, challenging a requirement to cover the cost of government-approved observers aboard their vessels. The Supreme Court's conservative majority has shown skepticism towards agency overreach in the past. A ruling against Chevron could impact not only major questions but also minor technical matters that agencies handle. This issue is particularly relevant for financial regulators overseeing cryptocurrency and artificial intelligence, as well as environmental regulation. Business advocates argue that Chevron has allowed agencies to make sweeping policy decisions that should be the domain of Congress. However, a ruling against Chevron would not necessarily call into question past regulations, and the court could take a narrower approach. [Extracted from the article]