XRP and Crypto Regulation at a Turning Point: Will the GENIUS Act Lead the Way?
The crypto world stands at a crucial crossroads as John E. Deaton, a top legal expert and vocal XRP supporter, raises alarm over the uncertain future of the GENIUS Act in the U.S. Senate. Deaton, known for his strong role in the Ripple vs. SEC case, warns that if this bill fails to pass, it could delay serious crypto reforms for as long as four more years.
The GENIUS Act, introduced by Senator Bill Hagerty, seeks to bring much-needed rules for stablecoins, focusing on strong consumer protections, secure asset backing, and encouraging innovation. According to Hagerty, the bill is essential for keeping the U.S. at the forefront of fintech and giving the crypto market the clarity it desperately needs.
Deaton highlights that this bill is bipartisan and balanced, unlike many controversial crypto proposals. He says it could open the door for wider crypto regulation. But if even this relatively simple bill can’t move forward, other key efforts — like tax rules for digital assets, clear market structure definitions, and the Lummis-Gillibrand crypto framework — might not see progress until 2029.
There is hope, though: Senator Kirsten Gillibrand recently announced her support for the GENIUS Act, offering a glimmer of momentum in Washington.
The outcome of this bill could shape the future of crypto regulation in the U.S. — and it might affect the direction of assets like $XRP in the years ahead.
Stay informed. Crypto’s future may be written in the decisions made today.