Lawyer: If the US Congress fails to pass the GENIUS Act in a timely manner, cryptocurrency regulatory reform will be postponed until 2029

According to Coinpedia, cryptocurrency advocate John E Deaton has issued a warning that if the US Congress fails to pass the stablecoin GENIUS bill in a timely manner, substantive cryptocurrency regulatory reform may be delayed until 2029. This viewpoint is supported by Messari founder Ryan Selkis and others. Deaton criticized that the regulatory attitude in the United States has fluctuated sharply between government changes, and current regulation still relies on the legal framework of the 1930s and 1940s. Selkis specifically pointed out that if the bill is not passed this week, future cryptocurrency reforms during the Trump administration may fail.