美國參議院朝著監管加密貨幣市場邁出了重要一步

這標誌著多年來數字資產調節的第一個真正的運動，它已經在過道的兩邊引起了爭議。

The U.S. Senate took a significant step toward regulating the cryptocurrency market on Monday, voting 66-32 to advance the GENIUS Act, a bipartisan bill focused on stablecoin oversight.

美國參議院週一朝著監管加密貨幣市場邁出了重要一步，以66-32投票推進《天才法》，這是一項針對Stablecoin監督的兩黨法案。

This marks the first real movement on digital asset legislation in years and it’s already stirring controversy on both sides of the aisle.

這標誌著多年來數字資產立法的第一個真正的運動，這已經引起了過道兩邊的爭議。

The bill, formally known as the General Establishment of Necessary Infrastructure for US Stablecoins (GENIUS) Act, aims to create the first federal framework for regulating stablecoins—digital tokens backed by fiat currencies like the U.S. dollar. It advanced after weeks of tense negotiations, particularly among Democrats who had previously united to block it.

該法案正式被稱為“美國穩定法案（GENIUS）法案的必要基礎設施，旨在建立第一個用於調節穩定穩定的聯邦框架，該框架是由菲亞特貨幣（如美元）支持的數字代幣。經過數週的緊張談判，尤其是在以前團結起來封鎖的民主黨人之後，它進步了。

Two weeks ago, every Senate Democrat joined forces with Senators Rand Paul and Josh Hawley to stall the bill, citing a need for stronger national security and anti-money laundering provisions. But behind closed doors, a bipartisan group of senators—including Mark Warner (D-VA), Kirsten Gillibrand (D-NY), and Cynthia Lummis (R-WY)—reached a breakthrough last week.

兩週前，每個參議院民主黨人都與參議員蘭德·保羅（Rand Paul）和喬什·霍利（Josh Hawley）聯手，以使該法案陷入僵局，理由是需要更強大的國家安全和反貨幣洗錢規定。但是在閉門造車後面，一群參議員 - 包括馬克·華納（Mark Warner）（D-VA），Kirsten Gillibrand（D-NY）和Cynthia Lummis（R-WY），並在上週進行了突破。

That deal included an amendment with new consumer protections, limits on tech company involvement in stablecoins, and temporary ethics extensions that would apply to influential figures like Elon Musk and David Sacks. These changes convinced 16 Democrats to flip and support the procedural vote.

該協議包括對新消費者保護的修正案，技術公司參與Stablecoins的限制以及適用於埃隆·馬斯克（Elon Musk）和戴維·薩克斯（David Sacks）等有影響力的人物的臨時道德擴展。這些變化說服了16名民主黨人翻轉並支持程序投票。

Despite the progress, Democrats remain deeply divided, especially over the Trump family’s crypto involvement. President Donald Trump’s dinner with top holders of his meme coin, and business ties with World Liberty Financial, have raised eyebrows on the Hill.

儘管取得了進展，但民主黨人仍然存在深刻的分歧，尤其是在特朗普家族的加密參與中。唐納德·特朗普（Donald Trump）總統與他的模因硬幣的頂級持有人以及與世界自由金融（World Liberty Financial）的商業聯繫，引起了人們對山丘的關注。

Although the GENIUS Act includes a clause preventing sitting members of Congress or executive officials from issuing stablecoins, critics say it does not go far enough. Senator Elizabeth Warren called out “egregious corruption” from the Senate floor, warning the bill leaves too many loopholes.

儘管《天才法案》包括一項條款，以防止國會的現任成員或執行官員發行穩定的條款，但批評者說這還不夠遠。參議員伊麗莎白·沃倫（Elizabeth Warren）從參議院的地板上宣布“巨大的腐敗”，警告該法案留下了太多的漏洞。

“Basic flaws remain unaddressed,” Warren said Monday, pushing for stronger restrictions to prevent Trump or other officials from profiting off digital assets while in office.

沃倫週一說：“基本缺陷仍然沒有解決，”他推動了更強大的限制，以防止特朗普或其他官員在任職期間獲得數字資產。

Senator Michael Bennet (D-CO) plans to introduce the STABLE Act, which would ban elected officials and federal candidates from issuing or endorsing digital tokens altogether. That amendment may be brought up during this week’s floor debates though it’s unlikely to pass in a GOP-controlled chamber.

參議員邁克爾·本內特（D-CO）計劃引入穩定法案，該法案將禁止民選官員和聯邦候選人完全發行或認可數字代幣。該修正案可能會在本週的底層辯論中提出，儘管不太可能通過共和黨控制的會議廳。

Senate Majority Leader John Thune (R-SD) criticized the delay, stating that Democrats had changed little in the bill they originally blocked. “It’s really hard to understand why we needed to wait an additional 11 days,” he said. A final vote on the GENIUS Act is not expected until after the Memorial Day recess.

參議院多數黨領袖約翰·圖恩（R-SD）批評了這一延誤，稱民主黨人最初被阻止的法案幾乎沒有改變。他說：“很難理解為什麼我們需要再等11天。”直到陣亡將士紀念日休會之後，才預計對《天才法》的最後一票。

Still, with bipartisan energy behind the bill, momentum is clearly building.

儘管如此，在法案後面的兩黨能量之後，動力顯然仍在建立。

Even if the Senate passes the GENIUS Act, its path in the House remains uncertain. A different bill to regulate stablecoin issuers is already circulating there, with competing language around who should enforce these rules the SEC, CFTC, or a new crypto-specific body.

即使參議院通過了《天才法》，其在眾議院的道路仍然不確定。規範穩定發行人的一項不同的法案已經在那裡流傳，圍繞誰應該執行這些規則的SEC，CFTC或新的特定於加密貨幣的機構。

Despite political crossfire, many in the industry are hopeful. Kara Calvert, VP of public policy at Coinbase, praised the vote:

儘管政治交火，但行業中的許多人都充滿希望。 Coinbase公共政策副總裁Kara Calvert讚揚了投票：

“If Congress passes this bill, it’s a win for Americans who want to make payments faster and easier. It’s not just a win for the industry.”

“如果國會通過了這項法案，這對於想要更快和更輕鬆的美國人來說是一場胜利。這不僅僅是該行業的勝利。”

The GENIUS Act is the closest Congress has come to real crypto regulation in years. But as the fight moves forward, the spotlight remains on Trump’s crypto dealings, Democratic divisions, and how much control lawmakers truly want over a fast-evolving industry. Whether the final version of this bill will satisfy both crypto advocates and government watchdogs remains to be seen.

《天才法》是最接近的國會多年來真正的加密法規。但是，隨著戰鬥的前進，焦點仍然存在於特朗普的加密貨幣交易，民主分裂以及立法者對快速發展的行業真正想要多少控制。該法案的最終版本是否會滿足加密貨幣倡導者和政府監管機構，還有待觀察。