Crypto Lawyer: If Congress Fails to Pass the GENIUS Act in Time, Crypto Regulation Reform Will Be Delayed Until 2029

BlockBeats News, May 15th, Lawyer John E Deaton, a supporter of cryptocurrency, issued a warning that if the U.S. Congress fails to pass the GENIUS stablecoin bill in a timely manner, substantial cryptocurrency regulatory reform may be delayed until 2029. This view has been supported by Messari founder Ryan Selkis and others.

Deaton criticized the U.S. regulatory stance for swinging drastically between administrations, with current regulations still relying on legal frameworks from the 1930s and 1940s. Selkis specifically noted that if the bill is not passed this week, cryptocurrency reform during the remainder of the Trump administration's term may be thwarted. (Coinpedia)

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