隨著特朗普的親核算轉彎塑造立法者如何應對數字資產政策，一項新的兩黨努力控制穩定的stablecoins正在擱淺

特朗普總統突然的加密攜帶重新解釋了這項措施的道路。特朗普今天最初是數字貨幣的強烈反對者，今天支持區塊鏈創新

A bipartisan push to regulate stablecoins, originally introduced by Senators Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.), is now facing fresh political friction as President Donald Trump’s pro-crypto stance is shaping how legislators approach digital asset policy.

最初由參議員Kirsten Gillibrand（DN.Y.）和Cynthia Lummis（R-Wyo。）引入的兩黨努力，最初是由唐納德·特朗普（Donald Trump）總統的親克賴特托（Pro-Crypto）立場正面臨新的政治摩擦。

The measure, which aims to establish a national framework for supervising stablecoins—cryptocurrency linked to the U.S. dollar—has been tasked the Federal Reserve with monitoring systemic risks, sets up clear paths for federal or state registration, and specifies reserve needs.

該措施旨在建立一個國家框架，以監督與美元有關的持續貨幣（與美元相關的cryptocrenty），負責通過監控系統性風險，為聯邦或州註冊設定了清晰的途徑，並指定了儲備金需求。

However, the path of the measure has been reinterpreted by President Trump’s sudden crypto embrace. Originally a strident opponent of digital currencies, Trump has come to support blockchain innovation, digital asset competitiveness, and even crypto donations for his reelection campaign.

但是，特朗普總統突然的加密貨幣已經重新解釋了這一措施的道路。特朗普最初是數字貨幣的強烈反對者，他來支持區塊鏈創新，數字資產競爭力，甚至為他的連任競選活動提供加密貨幣。

This shift has heightened political divisions. Some Democrats are wary of advancing legislation that appears to support the President’s pro-crypto narrative, while Trump-aligned Republicans are highlighting his stance as a key factor in their advocacy for minimal government intervention and accuse Democrats of stifling creativity.

這種轉變加劇了政治分歧。一些民主黨人謹慎地推進立法，這似乎支持總統的親克賴特托敘述，而特朗普一致的共和黨人則強調了他的立場是他們倡導其最小政府乾預的關鍵因素，並指責民主黨人扼殺創造力。

“This bill was developed with balance in mind, but now it’s caught in a more expansive ideological struggle over what kind of financial future the U.S. wants to lead, not just over crypto,” a senior Senate staffer explained.

一位高級參議院工作人員解釋說：“這項法案是在考慮到平衡的情況下制定的，但是現在，它陷入了一場更廣泛的意識形態鬥爭，因為美國想要領導哪種財務未來，而不僅僅是加密貨幣。”

The bill’s hybrid approach allows stablecoin issuers to operate under state regimes or choose a new federal charter, thus granting them control. However, it ultimately assigns the Federal Reserve the authority to sanction new issuers and supervise broader financial stability, a provision that some Republicans object to as an overreach of power.

該法案的混合方法允許Stablecoin發行人在州政權下運營或選擇新的聯邦憲章，從而授予他們控制權。但是，它最終將美聯儲授予批准新發行人並監督更廣泛的金融穩定的權力，這一規定是某些共和黨人反對的權力。

Progressive Democrats, on the other hand, argue that the law would permit fraud or instability in an already volatile market without more active federal supervision and stronger consumer protections.

另一方面，進步的民主黨人認為，法律將允許在本來已經動盪不安的市場中欺詐或不穩定，而沒有更積極的聯邦監督和更強大的消費者保護。

Industry leaders, such as Circle and Paxos, are urging legislators to support the bill, arguing that legal clarity will foster confidence and attract long-term investment in the sector. These companies are also advocating for flexible regulations that won’t hamper innovation or slow down development.

Circle和Paxos等行業領導人正在敦促立法者支持該法案，認為法律清晰度將促進信心並吸引對該行業的長期投資。這些公司還主張不會妨礙創新或減慢發展的靈活法規。

Crypto advocacy groups, the U.S. Chamber of Commerce, and financial technology consortia are pressing Congress to move forward with the measure, warning that politicizing crypto policy could set the U.S. back in the global sphere.

加密宣傳團體，美國商會和金融技術聯盟正在敦促國會繼續採取措施，警告政治化加密政策可以使美國重返全球領域。

Despite the escalating tensions, Senators Lummis and Gillibrand remain hopeful.

儘管緊張局勢不斷升級，但參議員盧米斯（Lummis）和吉利布蘭德（Gillibrand）仍然充滿希望。

“We need a stablecoin framework to protect consumers and support invention,” Senator Lummis stated in a recent press release. “Politics shouldn’t derail smart, future-oriented policy.”

盧米斯參議員在最近的新聞稿中說：“我們需要一個穩定的框架來保護消費者並支持發明。” “政治不應使明智的，面向未來的政策脫軌。”

As the 2024 election season heats up, crypto is transforming from a mere financial concern into a political litmus test. The passage of the measure will hinge on whether legislators prioritize meaningful regulation or become entangled in the optics of a Trump-led crypto narrative.

隨著2024年選舉季節的升溫，加密貨幣正從僅僅是財務上的關注轉變為政治試金石測試。該措施的通過將取決於立法者是否優先考慮有意義的法規或糾纏在特朗普領導的加密敘事的視線中。

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