Urgent Warning: John E Deaton Highlights Potential Delays in Cryptocurrency Regulatory Reform and the Importance of the GENIUS Stablecoin Bill

On May 15th, attorney John E. Deaton raised concerns regarding the future of cryptocurrency regulation in the United States. He indicated that the timely passage of the GENIUS stablecoin bill is critical; otherwise, significant regulatory overhauls may not be realized until 2029. This sentiment echoes the views of Ryan Selkis, founder of Messari, who has also pointed to the urgency of reform. Deaton criticized the inconsistent regulatory approach that varies dramatically with each administration, noting that existing frameworks largely draw on laws established in the 1930s and 1940s. Furthermore, Selkis emphasized that failure to enact this legislation within the week could impede progress on cryptocurrency reforms for the rest of the Trump administration, putting the U.S. at a further disadvantage in the burgeoning digital asset landscape.