A legislative override occurs when a legislative body passes a law that explicitly nullifies or alters an existing regulation or judicial decision. This action asserts the legislative branch’s authority over administrative agencies or courts. It typically requires a supermajority vote and is a significant mechanism for policy correction or redirection. Such an override can have a profound impact on specific industries.
Context
In the digital asset space, a legislative override could potentially occur if Congress passes a bill that contradicts or modifies existing regulatory interpretations or rules concerning cryptocurrencies. This might happen in response to perceived overreach by agencies or a desire to establish a more comprehensive and tailored framework for digital assets. A critical future development to watch involves legislative proposals that aim to define digital asset classifications or regulatory responsibilities, potentially overriding current agency stances.
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