#GENIUSAct
๐จ BIG NEWS FOR XRP ๐คฏ Is it *finally* time to load up? ๐ธ
๐ฌ XRP Advocate Issues Warning: Crypto Progress at Risk Without Stablecoin Bill
$XRP advocate John E. Deaton has issued a stark warning: if the GENIUS Act a stablecoin regulation bill fails in the U.S. Senate, we might not see meaningful crypto legislation until 2029 ๐ฑ.
Deaton, a key figure in the XRP legal battle, called the bill non-controversial and aligned with the national interest โ๏ธ. He says if lawmakers canโt pass something this basic, more complex reforms like market structure, crypto tax laws, or the Lummis-Gillibrand bill donโt stand a chance ๐.
๐ง The GENIUS Act, led by Sen. Bill Hagerty, aims to set clear rules for stablecoin issuers and require strong reserves to protect consumers ๐ก๏ธ. Hagerty believes it will support dollar-backed innovation and finally bring clarity to U.S. crypto regulations ๐บ๐ธ.
Despite the uphill battle Sen. Kirsten Gillibrand says the bill could pass this week ๐ณ๏ธ. Industry support is growing fast even Coinbaseโs policy chief Faryar Shirzad called stablecoin legislation a โnational priorityโ ๐.
โ ๏ธ But not everyoneโs on board. Sen. Elizabeth Warren remains cautious, citing financial risks. Deaton also pointed out that the bill bans yield on stablecoin holdings, something traditional banks may push back on ๐ฆ.
โณ A Senate vote is expected soon. If it fails, major crypto moves including BitBonds and tax reform โ could be stalled for years โ.
#XRPโ ๐ #CryptoNewss ๐ #GENIUSAct ๐ #stablecoin ๐ต