Technology
XRP Lawyer Warns That Other Crypto Laws Unlikely To Pass If Stablecoin Bill Fails – Crypto News
If the Stablecoin bill GENIUS Act does not pass the U.S. Senate, there may be no major crypto legislation before 2029, according to XRP lawyer John E. Deaton. The lawyer, known for his involvement in the XRP legal case, said on social media that Senate inaction could delay the regulatory clarity needed for the digital asset space. Deaton stated that the bill, which aims to regulate stablecoins, is non-controversial and serves national interests. However, he expressed concerns that if lawmakers cannot pass this bill, other more complex crypto bills such as market structure legislation, the Lummis-Gillibrand bill, or tax reforms are unlikely to succeed anytime soon. GENIUS Act Focuses on Stablecoin Regulation The GENIUS Act is being led by Senator Bill Hagerty and seeks to create a legal framework for issuing stablecoins in the United States. The bill aims to ensure issuers hold high-quality reserves to protect users and promote… Read More at Coingape.com
The post XRP Lawyer Warns That Other Crypto Laws Unlikely To Pass If Stablecoin Bill Fails appeared first on CoinGape.
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