Deaton says Ethereum (ETH), Ripple (RLUSD), and Circle (USDC) will benefit most from GENIUS Act, boosting stablecoin growth and trust.
Pro-crypto lawyer and Ripple supporter John Deaton recently pointed out the main players set to benefit from the GENIUS Act. According to him, Circle (behind USDC), Ripple (creator of RLUSD), and Ethereum (ETH) stand to gain the most from the new U.S. stablecoin legislation. Circle is the issuer of the stablecoin USDC. Ripple has just introduced its stablecoin, RLUSD. On the contrary, Ethereum is a blockchain on which many stablecoins are hosted, such as USDC and RLUSD.
Deaton Says ETH Could Outshine Ripple, Circle
Deaton expressed his opinions on the platform X (previously Twitter). According to him, most people would assume that Circle and Ripple will benefit the most from the law, but Ethereum could be the biggest beneficiary. The reason is that Ethereum is already the leader in the support of stablecoins in excess of 130 billion dollars. It is also powerful in smart contract technology and a big decentralized finance (DeFi) network.
In a major policy shift, the United States has passed the GENIUS Act, a new law focused on stablecoins. This law is called the Guiding and Establishing National Innovation for U.S. Stablecoins Act. President Donald Trump signed the legislation into law on July 18, 2025. The GENIUS Act establishes the explicit federal regulations of stablecoin issuers. It is intended to introduce digital currencies that would be safer and simpler to utilize and use within the U.S. financial system.
Consequently, Ethereum can take advantage of the GENIUS Act. The act will ensure that stablecoins are pegged at one-to-one with low-risk holdings such as U.S. dollars or treasury bills. The action should raise confidence in such digital assets. It will also tend to result in increased adoption by businesses, consumers, and banks.
In addition, Deaton singled out the work by Ethereum co-founder Joseph Lubin and research firm Fundstrat. Both have been attempting to show Ethereum as a very good friend of the regulators. The vision to make Ethereum the center of the regulated stablecoin market may become true.
GENIUS Act Sets Stage for Crypto 2.0 in U.S.
Meanwhile, the CEO of Tether, Paolo Ardoino, has expressed concern about the launch of the U.S. version of their coin, which is compliant with U.S. policies. However, Tether has previously been the target of criticism due to opaque reserve policies. Owing to this, stablecoins based on Ethereum, such as USDC and RLUSD, can receive greater backing in the future.
Related Reading: Ripple’s RLUSD Gets Top Stablecoin Rating from Bluechip
On one hand, the critics fear that the GENIUS Act might possess the power to put small companies at a disadvantage. They also caution that consumers continue to be vulnerable to such risks as a failed issuer of stablecoins. Nevertheless, the bulk of specialists believe that the given act marks a giant step toward making crypto more widespread.
In conclusion, the GENIUS Act implies that it might define the future of stablecoins in America. Explicit regulations and government backing may enhance the rate of adoption and confidence in online money with the help of the law. Ethereum, Ripple, and Circle will already be on the vanguard of this rush and could spearhead 2.0 of crypto in America.
