PANews reported on May 15 that according to Coinpedia, John E Deaton, a lawyer who supports cryptocurrencies, warned that if the US Congress fails to pass the stablecoin GENIUS Act in a timely manner, substantive crypto regulatory reforms may be delayed until 2029. This view is supported by Messari founder Ryan Selkis and others. Deaton criticized the US regulatory attitude for swinging dramatically between government changes, and the 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, crypto reforms may die during the Trump administration in the future.