John E Deaton
John E Deaton|May 14, 2025 12:50
I agree with @twobitidiot when he says if Congress can’t get the GENIUS Act passed, we won’t see a Market Structure’s Bill, which means we won’t see any long-lasting reform until 2029, depending on how the Presidential election goes. Why, you might ask? Because the GENIUS Act is a no-brainer any politician can get behind if they’re willing to put America’s interests ahead of politics. The stablecoin legislation isn’t even really a crypto bill and should be called the “Dollar Dominance Bill”, as pointed out by @intangiblecoins. We’re in an era when other nations are attempting to de-dollarize the world. We MUST drive demand for UST and ensure the USD remains the world’s reserve currency. If politicians can’t get the Genius Act through, then there’s little chance more complex, long lasting, legislation will pass. It’s so damn frustrating to watch how we go from one extreme to the other - every time we change President. We went from the Government’s 🥾 on the neck of the industry to a free-for-all with Presidential Meme Coins and an administration that couldn’t be more crypto-friendly but when all the dust settles, we’re still applying 1933 statutes and 1946 case law to modern day tech, like AI & Crypto. 😩
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