TD Cowen, the investment bank, reported on Monday that the recent Supreme Court ruling overturning the Chevron principle could complicate cryptocurrency legislation. The report states, 'After the Supreme Court took action, it was widely believed that the ruling would benefit the cryptocurrency industry. We partially agree with this view because it will help the cryptocurrency industry challenge the rules and enforcement of the U.S. Securities and Exchange Commission in the future. However, this does not change any past rulings or reconsider previous rulings.' The report believes that the bigger issue is what this decision means for lawmakers who want to enact legislation to regulate the industry and stablecoins. Analysts state, 'We are discussing details that are not typically seen in legislation, such as what happens when retail investors participate in exchange platform stake plans or how AML/BSA controls will apply if tokens have been hidden through mixers. Both sides are no longer willing to follow the advice of regulatory agencies because the court may now review these decisions for a second time.'