經過長時間的政治鬥爭，參議院成功地推進了指導和建立

經過長時間的政治鬥爭，參議院成功地推進了指導和建立

After a prolonged political battle and last-minute pleas from Democratic senators, the Senate successfully advanced the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act of 2025 on Monday night.

在民主黨參議員進行了長時間的政治戰鬥和最後一刻的請求之後，參議院在周一晚上成功地推進了指導和建立2025年美國穩定的國家創新（Genius）法案。

If the landmark bill clears one final procedural vote and a vote on the bill itself, it will rewrite crypto history in America, establishing the first comprehensive framework for regulating stablecoins, a critical component of the burgeoning digital asset ecosystem.

如果具有里程碑意義的法案清除了最終的程序投票和對該法案本身的投票，它將重寫美國的加密歷史，建立第一個調節Stablecoins的綜合框架，該框架是新興數字資產生態系統的關鍵組成部分。

The bill secured a 66-32 procedural vote, with several Democrats voting in favour following amendments to address their ethical concerns. It now heads back to the Senate floor for a final vote, which, if passed, will send the bill to the House. As this step only requires a simple majority, the supporters of the bill are optimistic about its passage.

該法案獲得了66-32的程序投票，在修正案解決其道德問題之後，幾名民主黨人讚成投票。現在，它返回參議院進行最後一票，如果通過，該賬單將把賬單發送到眾議院。由於此步驟僅需要簡單的多數，因此該法案的支持者對其通過的樂觀很樂觀。

Despite being introduced as a bipartisan bill, the GENIUS Act faced several political challenges. The Democrats protested alleged conflicts and corruption involving President Donald Trump and his family’s crypto empire.

儘管被引入兩黨法案，但《天才法案》仍面臨著一些政治挑戰。民主黨人抗議涉及唐納德·特朗普總統及其家人的加密帝國的衝突和腐敗。

As reported by Bloomberg earlier this month, the Senate failed to advance the stablecoin bill in a key procedural vote as Democratic senators asked for further amendments to the bill. Prominent leaders like Elizabeth Warren and Bernie Sanders criticized the bill, suggesting it could open the door for financial self-dealing by the President.

正如彭博社在本月初報導的那樣，參議院未能在民主黨參議員要求對該法案進行進一步修正的過程中，在關鍵的程序投票中推進穩定法案。伊麗莎白·沃倫（Elizabeth Warren）和伯尼·桑德斯（Bernie Sanders）等著名領導人批評了該法案，這表明這可以為總統的財務自我交易打開了大門。

Once the full vote concludes after the debate on the Senate Floor, the GENIUS Act will move to the House of Representatives, where it will be reviewed and voted upon. The House has been working on its own stablecoin legislation, the STABLE Act, and experts believe that a reconciliation between the two bills may be necessary for optimal regulatory clarity.

一旦在參議院的辯論進行辯論之後，全力投票就會結束，《天才法》將搬到眾議院，在那裡進行審查和投票。眾議院一直在製定自己的穩定法，《穩定法案》，專家認為，這兩個法案之間的和解可能是最佳的監管清晰度。

Last week, Senator Bill Hagerty claimed the Senate would pass the bill, later adding that it was "likely" to happen on Monday. The bill has also gained support from key industry leaders, including the XRP lawyer John Deaton, Federal Reserve Chair Jerome Powell, Coin Center CEO Jerry Brito, SEC chair Paul Atkins, and Coinbase CEO Brian Armstrong.

上週，參議員比爾·哈格蒂（Bill Hagerty）聲稱參議院將通過該法案，後來補充說，週一可能會“可能”發生。該法案還獲得了主要行業領導者的支持，包括XRP律師約翰·迪頓（John Deaton），美聯儲主席杰羅姆·鮑威爾（Jerome Powell），硬幣中心首席執行官傑里·布里托（Jerry Brito），SEC SEC主席保羅·阿特金斯（Paul Atkins）和Coinbase Coinbase首席執行官Brian Armstrong。

The act, if passed, can establish a regulatory framework for stablecoins, which are a type of cryptocurrency pegged to stable assets like the U.S. dollar. The act will introduce guardrails to ensure the stability of these digital assets, while also providing an official validation for them.

該法案（如果通過）可以為Stablecoins建立一個監管框架，該框架是一種加密貨幣，將其固定在諸如美元之類的穩定資產上。該法案將引入護欄，以確保這些數字資產的穩定性，同時還為其提供官方驗證。

Some of the key provisions of the GENIUS Act include:

《天才法》的一些關鍵規定包括：

• The bill would create a new regulatory regime for stablecoins, placing them under the supervision of the Federal Reserve.

•該法案將為Stablecoins創建新的監管制度，並將其置於美聯儲的監督之下。

• It would require stablecoin issuers to hold capital reserves and be subject to periodic stress tests.

•這將要求Stablecoin發行人持有資本儲備並進行週期性壓力測試。

• The bill would also impose new reporting requirements on stablecoin issuers, and it would give the Federal Reserve the authority to intervene in the market if necessary to maintain stability.

•該法案還將對Stablecoin發行人施加新的報告要求，並在必要時賦予美聯儲有權干預市場以保持穩定性。

The U.S. Senate advancing the GENIUS Act is a milestone for the crypto industry as it offers the much-needed regulatory clarity and can be crucial for boosting investor confidence in the market.

美國參議院推進《天才法》是加密貨幣行業的里程碑，因為它提供了急需的監管清晰度，並且對於增強投資者對市場的信心至關重要。

Major stablecoin issuers like Circle (USDC) and Tether (USDT) have also expressed support for the act as it can help integrate digital assets into the traditional financial systems.

Circle（USDC）和Tether（USDT）等主要的Stablecoin發行人也表示支持該行為，因為它可以幫助將數字資產集成到傳統的金融系統中。

As the U.S. moves toward formalizing stablecoin regulations, it joins a growing list of countries seeking to capitalize on the booming crypto industry. Brazil, for instance, has proposed strict rules for stablecoin transfers as part of its new regulatory framework. El Salvador, on the other hand, recently boasted a notional gain of $357 million from its Bitcoin (BTC) Reserve.

隨著美國朝著正式化Stablecoin法規的正式化，它加入了越來越多的國家，希望利用蓬勃發展的加密貨幣行業。例如，巴西已提出了針對新監管框架的一部分，對Stablecoin轉移提出了嚴格的規則。另一方面，埃爾·薩爾瓦多（El Salvador）最近從其比特幣（BTC）儲備金中擁有3.57億美元的名義收益。