Vivek Ramaswamy: US government regulatory spending to face 'significant' cuts

Vivek Ramaswamy, one of the heads of the U.S. Department of Government Efficiency (DOGE), wrote on X that the federal government's regulatory spending will face "substantial" cuts, and two key judicial developments are the basis 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 to be transformative. "This paves the way for a significant reduction in the scope of federal regulation. This day is coming." The court's rulings were finalized in 2024 and 2022, respectively, limiting the ability of federal agencies to interpret regulations. Analysis points out that these changes are expected to affect many industries, including the cryptocurrency field.