Eugene Scalia Leads Business’ Fight to Block Agency Rulemaking

Scalia is behind four ongoing fights with the Securities and Exchange Commission over a progressive agenda led by chair Gary Gensler. The lawyer, who boasts a 7-0 record against the agency in court, is challenging reforms covering private funds, dealers, and climate disclosures that he claims swerve beyond the securities regulator’s lane while imposing huge costs on businesses.

He is also representing Coinbase Global Inc., the largest crypto exchange in the US, as it seeks a court review of the SEC’s December decision denying a petition for a rule covering how it determines when a digital asset is a security.

“The process in rulemaking has frankly enabled rule challenges in court,” said Nicholas Morgan, president of the Investor Choice Advocates Network. “The speed, the quantity, the short notice period is just going to translate to rules that are more susceptible to challenge.”

Source: Eugene Scalia Leads Business’ Fight to Block Agency Rulemaking