發生了戲劇性的事件，可能會延遲最重要的數字資產賬單之一

這種逆轉就在參議院準備對該措施投票的幾天前，對法案的命運產生了不確定性。

A dramatic turn of events took place that may delay one of the most important digital asset bills in recent memory. A coalition of nine Senate Democrats has announced their disagreement with the current version of the Republican-led stablecoin bill. This reversal comes just days before the Senate is set to vote on the measure, casting uncertainty over the bill’s fate.

發生了戲劇性的事件，可能會延遲最近記憶中最重要的數字資產賬單之一。一個由九個參議院民主黨人組成的聯盟宣布與當前由共和黨領導的斯塔布爾幣法案的分歧。這種逆轉就在參議院準備對該措施投票的幾天前，對法案的命運產生了不確定性。

This has resulted in a shaken-up political scenario and U.S. crypto regulations.

這導致了震撼的政治情況和美國加密法規。

🚨 JUST IN: 9 Senate Dems (6 of whom are members of Senate Banking Cmte.) signal new opposition to the GENIUS Act (Senate stablecoin bill).

🚨僅在：9名參議院Dem（其中6名參議院銀行CMTE的成員）表示對《天才法》（參議院Stablecoin法案）的新反對。

The group says they are “unable to vote for cloture should the current version of the bill come to the floor.”https://t.co/u7z453L72p

該小組說，他們“如果本法案的當前版本出現在地板上，他們將無法投票。” https://t.co/u7z453l72p

— Ben White (@BenSWhite7) May 3, 2025

- 本·懷特（Ben White）（@benswhite7）2025年5月3日

This disagreement took place on May 3, 2025, where the bill was spearheaded by Senator Bill Hagerty. He aims to create the first-ever regulatory framework for stablecoins. Stablecoins are digital currencies that are tied to fiat currencies like the U.S. dollar.

這種分歧發生在2025年5月3日，該法案由參議員比爾·哈格蒂（Bill Hagerty）率領。他的目標是為Stablecoins創建有史以來的第一個監管框架。 Stablecoins是與美元等法定貨幣相關的數字貨幣。

While the legislation cleared the Senate Banking Committee in March with some bipartisan backing. Recent statements from Democrats suggest that earlier support has now crumbled. If the bill is not revised significantly.

法律在三月份以兩黨支持的情況下清除了參議院銀行委員會。民主黨人的最新聲明表明，較早的支持現在已經崩潰了。如果法案未進行大量修訂。

Democratic Support Wavers

民主支持搖動

This opposition to the Senate stablecoin bill was led by Sen.Ruben Gallego, who has previously voted for the bill during committee deliberations. It was co-signed by 8 other Senate Democrats: Mark Warner. Lisa Blunt Rochester, Andy Kim, Raphael Warnock, Catherine Cortez Masto, Ben Ray Lujan, John Hickenlooper, and Adam Schiff. Among these nine, four of them have initially supported the bill during its early stages.

對參議院穩定法案的反對是由參議員加勒戈（Ruben Gallego）領導的，後者此前曾在委員會審議期間投票贊成該法案。它由其他8名參議院民主黨人共同簽名：馬克·華納（Mark Warner）。 Lisa Blunt Rochester，Andy Kim，Raphael Warnock，Catherine Cortez Masto，Ben Ray Lujan，John Hickenlooper和Adam Schiff。在這九個中，其中四個最初在其早期階段支持該法案。

Notably, 4 of the signatories (Sens. Rochester, Warner, Kim, and Gallego) previously voted to advance the bill through the Senate Banking Committee in March, but now say they won’t support the bill on the floor without changes.

值得注意的是，有4個簽署國（羅切斯特，華納，金和加勒戈）以前在3月通過參議院銀行委員會投票通過了該法案，但現在說他們不會在沒有更改的情況下支持地板上的法案。

Their collective message gave a clear indication that they would not be able to vote for cloture unless the bill underwent a major revision and changes. This statement alone could derail the legislation, which requires at least 60 votes in the Senate to overcome a tactical delay.

他們的集體信息清楚地表明，除非法案進行了重大修訂和變更，否則他們將無法投票贊成Cloture。僅此聲明就可能使立法使參議院至少有60票克服戰術延誤。

With only slim Republican margins and increasing Democratic hesitation. Reaching that threshold has suddenly become more complex.

只有苗條的共和黨邊緣和民主黨的猶豫越來越大。達到這個閾值突然變得更加複雜。

Key Issues Raised

提出了關鍵問題

The senators highlighted the need for more robust safeguards in the bill. Their concerns include insufficient anti-money laundering provisions. A lack of strong oversight over foreign stablecoin issuers and the absence of strict enforcement. They also highlighted concerns related to broader national security and the importance of ensuring accountability among stablecoin operators.

參議員強調了在該法案中需要更強大的保障措施。他們的擔憂包括不足的反洗錢規定。對外國穩定發行人缺乏強烈的監督，缺乏嚴格的執法。他們還強調了與更廣泛的國家安全有關的關注點以及確保穩定運營商問責制的重要性。

They mentioned that there is a need for stronger protections. And they cannot pass and support the bill that leaves the financial system vulnerable. The legislators stressed that they remain open to compromise, noting that they are eager to continue working with colleagues to address the outlined shortcomings.

他們提到需要更強大的保護。他們無法通過和支持使金融體系脆弱的法案。立法者強調，他們仍然願意妥協，並指出他們渴望繼續與同事合作解決概述的缺點。

Trump Family’s Crypto Links Add Pressure

特朗普家族的加密鏈接增加了壓力

The U.S. crypto regulation atmosphere surrounding digital assets has grown more charged in recent months. Particularly as a member of the Trump family depends on their involvement in the crypto industry. A new stablecoin venture backed by the former president’s son has raised alarms among Democrats. Those who fear potential conflicts of interest and political bias.

近幾個月來，圍繞數字資產的美國加密監管氛圍越來越多。特別是作為特朗普家族的成員，他們依靠他們參與加密行業。由前總統兒子支持的一項新的Stablecoin企業在民主黨中引起了警報。那些擔心潛在的利益衝突和政治偏見的人。

While the Republic lawmakers hoped that the recent amendment to the bill was introduced specifically to address the Democratic concerns. These concerns would smooth the path for bipartisan approval; the latest opposition suggests those efforts fall short. Instead, the Democrats now appear poised to use their leverage to extract further concessions.

儘管共和國議員希望最近對該法案進行了修正，以解決民主問題。這些擔憂將使兩黨認可的道路順利進行；最新的反對派表明這些努力不足。相反，民主黨現在似乎準備利用自己的槓桿來提取進一步的讓步。

Notable Absences and GOP Response

值得注意的缺席和共和黨反應

Interestingly, two of the Democratic senators who are co-sponsoring the bill, Kirsten Gillibrand and Angela Alsobrooks, did not sign the opposition statement. Their continued support may provide a potential path forward if a new amendment is introduced that can rebuild a bipartisan coalition.

有趣的是，共同贊助該法案的兩名民主黨參議員Kirsten Gillibrand和Angela Alsobrooks沒有簽署反對派聲明。如果引入了可以重建兩黨聯盟的新修正案，他們的持續支持可能會提供潛在的途徑。

In response, Sen. Hagerty defended the bill and stated its broader vision. “We must advance legislation that enshrines American leadership in the digital asset space and protects the US dollar for centuries to come,” Hagerty said. “That time is now.”

作為回應，參議員哈格蒂捍衛了該法案，並陳述了其更廣泛的願景。 Hagerty說：“我們必須提出立法，以使美國在數字資產領域領導，並在未來幾個世紀中保護美元。” “那個時候了。”

Overall, the next procedural vote on the bill could come as early as next week. Whether Democrats and Republicans can strike a new deal may determine the immediate future of the stablecoin bill and U.S. crypto regulation.

總體而言，下一次對該法案的程序投票可能最早在下週進行。民主黨人和共和黨人是否可以達成一項新協議可以決定Stablecoin法案和美國加密貨幣監管的近期未來。