Vivek Ramaswamy, a prominent figure in the U.S. Government Efficiency Department (DOGE), announced on X that federal regulatory expenses are set for a major reduction. This pivotal shift arises from two significant judicial developments that have diminished the authority of federal regulators. Ramaswamy underscored the implications of the Supreme Court's rejection of the 'Chevron Deference Doctrine,' which previously permitted federal agencies to interpret vague regulations, and the newly established 'Major Questions Doctrine,' which restricts agencies to acting only with clear legal authority.
These landmark rulings are anticipated to instigate a considerable reduction in the reach of federal regulations. Ramaswamy noted that this transformation is on the horizon. The court's decisions, which were finalized in 2024 and 2022 respectively, have notably restricted federal agencies from interpreting regulations autonomously.
Financial analysts project that these judicial rulings will influence various industries, particularly the burgeoning cryptocurrency sector..