With the GENIUS Act now officially passed, pro-XRP attorney John Deaton has released a new report analyzing which blockchain projects, including Ripple and Ethereum, stand to gain the most. While Ripple’s Stablecoin, RLUSD, and Circle’s USDC are highlighted as potential beneficiaries of this landmark legislation, the report suggests that Ethereum is poised to be the biggest winner overall.
GENIUS Act To Favor Ethereum Over Ripple
In a recently released statement on the X social media platform on July 3, Deaton weighed in on the implications of the recently signed GENIUS Act. While Ripple and Circle have drawn much attention as the likely front-runners under the legislation, the pro-crypto attorney contends that Ethereum is set to benefit the most from the new regulatory framework compared to other blockchains.
The GENIUS Act, which stands for Government Encouragement of National Innovation and Upliftment of Startups, aims to provide regulatory clarity for digital assets and stablecoins operating within the US market. This new legislation is being widely viewed as a turning point for crypto projects and a historical moment for the industry.
Deaton acknowledged the broader consensus that Ripple, with its recently introduced stablecoin, RLUSD, and Circle, the issuer of USDC, would benefit significantly from the regulatory clarity established by the GENIUS Act. However, he emphasized that Ethereum is even more uniquely positioned to capitalize on the provisions of the legislation due to its long-standing infrastructure and its deep connection to stablecoins.
In his view, influential Ethereum advocates such as AK_EtherMachine, Fundstrat, and Ethereum co-founder Joseph Lubin have the strategic leverage and regulatory foresight to steer the blockchain network into a dominant role within the compliant US crypto ecosystem. Deaton further pointed to growing momentum behind Ethereum-compatible initiatives, including discussions by Padro Ardoino and Tether about introducing a US-based version of the UDST stablecoin. These developments suggest a broader industry pivot toward crypto compliance and innovation within US borders, alongside a renewed focus on Ethereum’s foundational role in powering stablecoins.
Notably, Deaton’s remarks come at a time when clear regulations continue to be a decisive factor in determining which blockchain networks and cryptocurrencies thrive in the evolving market. While Ripple has long championed regulatory transparency, especially through its ongoing legal battles with the US SEC, Ethereum’s flexible and developer-friendly network may offer a more scalable way to meet US-centered compliance standards.
Ethereum And XRP Prices Slide Despite Policy Momentum
Despite renewed optimism and positive sentiment fueled by the GENIUS Act, the prices of Ethereum and XRP have retraced. According to data from CoinMarketCap, ETH‘s price surged over 40% in the past month. However, in this past week alone, the leading altcoin dropped nearly 9% and is now trading at $3,548.
XRP has also experienced a pullback after rallying above $3. While it recorded a 34.8% increase over the past month, the cryptocurrency crashed by 8.33% this week. Now, XRP is teetering between $2.8 and $3 as it struggles to break through former support levels.
Featured image from Getty Images, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.