$XRP BREAKING: Could This Bill Make or Break Crypto’s Future? XRP Advocates Sound the Alarm
Crypto investors are on high alert as XRP advocate and attorney John E. Deaton issues an urgent warning: If the **GENIUS Act, a pivotal stablecoin regulation bill, fails to pass the U.S. Senate, comprehensive crypto legislation could face a *five-year delay*—potentially stalling progress until 2029.
Deaton’s Stark Prediction**
Known for representing over 75,000 XRP holders in the landmark SEC vs. Ripple case, Deaton called the GENIUS Act a “non-controversial, common-sense” proposal critical to U.S. competitiveness. He argues that if lawmakers can’t pass this foundational bill, more complex reforms—such as crypto market structure rules, tax clarity, or the sweeping Lummis-Gillibrand legislation—risk being shelved indefinitely.
Why the GENIUS Act Matters
Introduced by Senator Bill Hagerty (R-TN), the bill aims to create clear regulatory guardrails for stablecoin issuers, mandating transparent reserve holdings and robust consumer protections. Hagerty claims the legislation would position the U.S. as a leader in financial innovation while curbing risks tied to “unbacked” stablecoins.
Cautious Optimism in Congress
Senator Kirsten Gillibrand (D-NY), a key crypto policy voice, recently hinted the bill could advance this week. Industry leaders have largely rallied behind the proposal, praising its potential to resolve regulatory ambiguities. However, political gridlock looms, with critics fearing compromises could dilute the bill’s impact.
The Stakes for Crypto Investors
With XRP’s legal clarity already secured via the Ripple ruling, Deaton’s warning highlights a broader concern: regulatory stagnation could stifle the entire crypto market. As Congress races against the clock, the GENIUS Act’s fate may determine whether 2024 becomes a turning point—or a missed opportunity—for U.S. crypto innovation.
*Is now the time to buy? Analysts urge caution, but clarity on stablecoins could ripple across markets,
