The Major Questions Doctrine for the Crypto Industry

Coinbase is suing the Securities and Exchange Commission over its regulation of cryptocurrency. The company argues that Congress did not intend to hide wide-scale jurisdiction over the crypto industry for the SEC within the Securities Act of 1933. A different district court judge in the same courthouse recently found that thecrypto industry, though certainly important, falls far short of being a portion of the American economy bearing vast economic and political significance like energy or tobacco.