Lawyer: If the U.S. Congress fails to pass the GENIUS Act in a timely manner, encryption regulatory reforms will be delayed until 2029.

PANews, May 15 - According to Coinpedia, lawyer John E Deaton, who supports Crypto Assets, warned that if the U.S. Congress fails to pass the stablecoin GENIUS Act in a timely manner, substantial crypto regulation reforms may be delayed until 2029. This view is supported by Messari founder Ryan Selkis and others. Deaton criticized the U.S. regulatory stance, which swings dramatically between government transitions, noting that current regulations still rely on the legal framework of the 1930s and 1940s. Selkis specifically pointed out that if the bill is not passed this week, crypto reforms during the future Trump administration could be thwarted.