XRP lawyer John E. According to Dieton, if the Stabecrim Bill Genius Act does not pass the US Senate, there may be no major crypto law before 2029. The lawyer, known for its participation in the XRP legal case, said on social media that the inactivity of the Senate could delay the regulatory clarity required for the digital asset location.
Dietton said that the bill, which aims to regulate Stabecrims, is non-contact and serves national interests. However, he expressed concern that if law makers could not pass this bill, other complex crypto bills such as market structure law, lummis-gilaibrand bill, or tax reforms are unlikely to be successful soon.
Genius Act focuses on Stabecriman Regulation
The Genius Act is being led by Senator Bill Hergerti and attempts to create a legal framework to issue stabechoin in the United States. The purpose of the bill is to ensure that the issuers have high quality reserves to promote users’ safety and transparency.
During an interview On CNBC’s “Squalk Box”, Senator Hagranty said, “This Stabelcoin Bill will bring regulatory clarity and support dollar-supported innovation in the United States.” He said that the lack of clear rules has upset many crypto-related projects. The Bill has intended to reverse the trend by creating a clear regulatory path for stabechoin issuers.
He said that the use of SEC enforcement works to regulate digital assets has created confusion in the market. By establishing a formal structure, the bill can help both consumers and businesses work with better legal understanding. However, despite concerns, Senator Kirsten Gilibrand has predicted StableCoin regulation may pass this week.
Industry support for the Genius Act increases
Many figures of Digital Asset Space have given strong support despite Stabelin Bill Genius Act Fraud and corruption allegations Against US President Donald Trump. Coinbase chief policy officer Farar Shirzad said that passing Stabelcoin Act is a “national priority”. He emphasized that the US should lead to blockchain-based finances and ensure that US dollar tied stabelin is prominent.
Shirzad posted on X, “Stabecrims can put pressure on old financial systems, but competition is necessary.
Shirzad also mentioned that the Genius Act would strengthen the role of dollar globally and place the US at the center of international finance. He insisted that the bill is beyond technology and also supports fiscal power and national strategy.
Challenges remain despite bipartisan support
Although the Stabelcoin bill has support from both major political parties, the obstacles still exist. Senator Higranty said that the opposition often comes from MPs who favor centralized financial control. Critics, including Senator Elizabeth Warren, have urged to be cautious and questioned whether the bill will increase the financial risk or reduce the regulatory authority.
XRP advocate John Dieton said that the bill does not allow stabechoin holders to achieve yield, which he sees as a shortage. However, he admitted that any produce-bearing version would face resistance from banks due to competition with deposits. “Bank lobby is real,” he wrote.
The Senate is expected to vote on the bill soon. If the law fails, it can reduce speed for other crypto-related efforts. According to XRP advocate John Detton, Stabechoin without regulation In place, extensive improvements such as bitbonds or crypto tax laws cannot progress to the next administration.
Calvin Munene Murithi
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