We can hope that SCOTUS tears Chevron apart this term. Then Congress will be forced to actually do its job, something it hates doing because it puts responsibility for decisions in its box.

Ah yes, because the body that can barely get through a few laws every month surely will handle the utter deluge of work when they have to write all the petty little details of any recommendation by any portion of the federal government on any little issue.

The point of overturning Chevron is entirely to handicap the government in it's ability to regulate anything.

The fewer the laws they get through the better, especially when every bill they pass seems to be a conglomeration of 10-20 other bills which should be considered, written, and voted on separately. The point of overturning Chevron is to get rid of a current bias toward accepting the even-nonsensical interpretations of law by unelected officials over clear reason and sense.

And Coinbase has sued the SEC for failing to follow this "properly passed legislation."

And like all court cases, everything must be followed with the words "In my opinion", until a judge rules.

So, I guess, courts will answer that question as well.

The term "based on" is doing an enormous amount of work in that sentence.