Crypto Lawyer Says Crypto Regulation Isn’t Coming to US! The Why

As the ripple-SEC litigation continues, crypto attorney and XRP amicus curiae John Deaton says US crypto legislation is not on the horizon. According to Deaton, there is little chance that proper crypto laws will be enacted in the United States anytime soon.

He stated:

“I believe that the 1st or 2nd Quarter of 2025 seems to be the earliest that it can be done and I’m probably too optimistic about that time frame.”

The lawyer went on to say that the only way for the market to find direction in the future is through the legal decisions of the SEC’s policy of Regulation by Enforcement. Deaton says the entire crypto community must unite to counter the SEC’s enforcement-only approach.

Crypto Regulation in the United States

Authorities in the United States, especially the SEC, are putting a lot of pressure on cryptocurrencies and crypto firms. And the drop of FTX it certainly did not reduce the situation.

The middle of December revealed the introduction of a bill by Senators Elizabeth Warren and Roger Marshall to address the threats they believe digital assets represent to the national security of the United States. One such policy is to put crypto companies on the same level against money laundering as banks and other financial institutions by extending the Bank Secrecy Act to the crypto sector.

However, lawmakers in the country have yet to come to a decision on how to properly regulate the cryptocurrency sector, as the industry struggles with a bear market that has seen the decline of many crypto company.

However, Congress has shown great interest in cryptocurrencies, as seen by the fact that the House Financial Services Committee, the Senate Agriculture Committee, and the Finance Committee the Senate convened all hearings on the failure of FTX in the same month.

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