Crypto John E Deaton lawyer has shared a warning to anxiety in the encryption community, if the US Congress fails to pass a genius law now, we may not see any strong laws or reforms until 2029.
This may seem extreme, but Diton is not alone in thinking this way. The other Messari founder Ryan Selkis confirmed that without immediate progress, long -term repairs can even be outside the table.
The verb of the genius: more than just an encryption bill
Diton believes The genius did something All politicians should support, because it is not truly a “encryption” bill. As Alex Thoran of Galaxy Research said, it should be called a “dollar domination law.”
He agrees with Ryan Silux, the founder of Missari, who said that if the genius law does not pass soon, it will be the death of the basic encryption legislation upon his arrival under any Trump presidency in the future.
Meanwhile, the bill is designed to support Stablecoins supported by the US dollar. In a world in which countries like China and Russia pay to “cancel the channel”, Diton says America should act quickly.
The support of the dollar -backed Stablecooins can increase the demand for the assets of the US Treasury and help the dollar to survive the world’s leading backup currency.
A broken political swing system
Deaton also shared his annoyance with how the United States continues to change its approach to Crypto. One government is very strict, while the following rulers act very friendly, and sometimes they turn into a joke of sounds.
But regardless of who is responsible, Diton says we are still using laws of the 1930s and the 1940s to control new technology such as Crypto and AI.
There is no repair without work
Meanwhile, the biggest image is clear, says Diton, without the support of the two parties to the Genius law now, there is no great hope for the deeper market structure bills at a later time. Ryan Silux warned that failure to pass this week is likely to kill encryption repair under the Trump administration.
Deaton also agreed and called Coinbase, indicating that his silence may be strategic, because organizational uncertainty helps him stay in the foreground.
