A key cryptocurrency regulation bill, the GENIUS Act, is facing a potential roadblock in the US Senate. Legal counsel John Deaton, who represents XRP holders, argues that if this legislation fails to pass now, it could delay progress on broader crypto regulations until after the midterm elections – potentially for an extended period. Deaton acknowledges the bill isn’t without controversy but highlights its bipartisan support and potential benefits. He also points out a key concession in the bill – eliminating interest payments for stablecoin holders, aimed at appeasing financial institutions. This move, he argues, prioritizes banking interests over investor outcomes. The result: a bill that avoids disruptive changes while leaving retail investors largely excluded from the policy discussions.