Vivek Ramaswamy: The US government's regulatory expenses will face 'significant' cuts

Odaily Planet Daily News: Vivek Ramaswamy, one of the officials of the U.S. Department of Government Efficiency (DOGE), stated in a post on X that regulatory expenses of the federal government will face a 'significant' reduction, and two key judicial developments are the foundation for weakening federal regulatory power. It pointed out that the Supreme Court rejected the Chevron Deference Doctrine (which allows federal agencies to interpret ambiguous regulations) and the Major Questions Doctrine (which requires agencies to act only when they have clear legal authority), which is considered transformative, paving the way for a significant reduction in federal regulatory scope. That day is coming. The court's rulings, finalized in 2024 and 2022, respectively, limited the ability of federal agencies to interpret regulations. Analysis indicates that these changes are expected to affect numerous industries, including the Crypto Assets sector.