本週，美國參議院未能繼續執行一項名為《天才法》的大型Stablecoin法案

本週，美國參議院未能推進一項名為“指導和建立美國Stablecoins Act”（Genius Act）的國家創新法案的重大Stablecoin法案。

This week, the US Senate failed to advance a major stablecoin regulation bill known as the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act).

本週，美國參議院未能推進一項重大的Stablecoin法規法案，稱為指導和建立美國Stablecoins法案（Genius Act）的國家創新。

On May 8, Democrat lawmakers joined forces to block the bill, leading to a vote of 49 against and 48 in favor of advancing the legislation.

5月8日，民主黨議員聯手阻止該法案，導致對49票的投票，48票支持該立法。

However, several Democrats who had previously backed or co-sponsored the GENIUS Act—including Ruben Gallego, Mark Warner, Lisa Blunt Rochester, Andy Kim, Kirsten Gillibrand, and Angela Alsobrooks —ultimately voted against it.

但是，幾位以前支持或共同贊助了《天才法案》的民主黨人 - 包括魯本·加勒戈，馬克·華納，麗莎·布朗特·羅切斯特，安迪·金，基爾斯滕·吉利布蘭德和安吉拉·阿爾索布魯克斯 - 反對它。

This surprising turn of events comes despite the bill having already secured bipartisan support.

儘管該法案已經獲得了兩黨的支持，但這一令人驚訝的事件發生了。

Gallego and his colleagues explained their decision in a joint statement, highlighting the need for stronger safeguards in the legislation.

加勒戈（Gallego）和他的同事在一份聯合聲明中解釋了他們的決定，強調了在立法中需要更強大的保障措施。

According to the lawmakers, the bill still lacked critical language on anti-money laundering, more robust oversight of foreign stablecoin issuers, and clearer enforcement tools to ensure compliance.

根據立法者的說法，該法案仍然缺乏關於反洗錢，對外國穩定發行人的更強大監督以及更清晰的執法工具的關鍵語言，以確保合規性。

They also pressed on the urgency of addressing national security concerns and the stability of the broader financial system in the legislation.

他們還強迫解決國家安全問題的緊迫性和立法中更廣泛的金融體系的穩定性。

“We recognize that the absence of regulation leaves consumers unprotected and vulnerable to predatory practices. We have approached this process constructively and with an open mind, with the understanding that additional improvements to the bill would be made,” the Democrats stated.

民主黨人說：“我們認識到，沒有監管的缺乏使消費者沒有受到保護，並且容易受到掠奪性實踐的影響。我們已經建立了建設性的和開放的思想來實現這一過程，並了解將對該法案進行進一步的改進。”

However, Republican lawmakers, like Pete Ricketts, expressed disappointment over the vote outcome, alleging that Democrats prioritized political interests over policy progress.

但是，像皮特·里基茨（Pete Ricketts）一樣，共和黨議員對投票結果表示失望，指控民主黨將政治利益放在政策進步上。

"Heartless Democrats just voted to kill the GENIUS Act, which would have brought much-needed regulation to stablecoins and Web3. Democrats preferred to scuttle the bill over trivial complaints and preferred to keep stifling new technologies," Ricketts wrote on X.

里克特（Ricketts）在X上寫道：“無情的民主黨人只是投票決定殺死《天才法案》，這本來將急需的法規帶到了穩定的法規和Web3。民主黨人寧願將法案削減而不是瑣碎的投訴，而寧願繼續扼殺新技術。”

Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, added that Senate Democrats missed a chance to enact sensible reforms to boost innovation and secure the US as a leader in financial technology.

總統數字資產顧問委員會執行董事Bo Hines補充說，參議院民主黨人錯過了進行明智的改革來促進創新並確保美國成為金融技術領導者的機會。

“This bill wasn’t about politics—it was about building the future. It was about modernizing our outdated payment systems, and securing our position as the global standard-setter in financial technology. Instead, Democrats caved to fringe ideological factions, abandoning the opportunity to bring clarity to the market and foster American innovation,” Hines stated.

Hines表示：“該法案與政治有關，這是關於建立未來。這是關於使我們過時的支付系統現代化，並確保我們作為金融技術的全球標準制定者的地位。相反，民主黨人陷入了邊緣意識形態派系的努力，放棄了將明確的機會帶入市場並促進美國創新的機會。”

Meanwhile, Matt Hougan, Chief Investment Officer at Bitwise, described the outcome as "deeply unfortunate."

同時，Bitwise的首席投資官Matt Hougan將結果描述為“非常不幸”。

He pointed out that without clear regulations, stablecoin adoption could stall and market growth—especially for altcoins—would be suppressed.

他指出，如果沒有明確的法規，stablecoin的採用可能會停滯不前，尤其是對於Altcoins而言，將被抑制。

Moreover, Hougan noted that a regulatory stalemate could lead to increased volatility across non-Bitcoin assets this summer.

此外，霍根（Hougan）指出，監管僵局可能導致今年夏天非比型幣資產的波動性增加。

“If stablecoin and market structure legislation grind to a halt in DC, it’s going to be a long summer for non-bitcoin crypto assets,” Hougan remarked.

Hougan說：“如果Stablecoin和市場結構立法在DC停頓，那將是非比幣加密資產的漫長夏天。”

Tether Reacts to Updated Stablecoin Bill

繫繩對更新的Stablecoin賬單做出反應

Following the failed vote, a newly updated draft of the GENIUS Act has surfaced with several notable changes.

投票失敗後，《天才法案》的新更新草案浮出水面，並有了幾項顯著的變化。

The new draft now lists only four Republican Senators as sponsors: Bill Hagerty, Cynthia Lummis, Tim Scott, and Dan Sullivan.

現在，新草案只列出了四位共和黨參議員作為贊助者：比爾·哈格蒂，辛西婭·盧米斯，蒂姆·斯科特和丹·沙利文。

It also expands U.S. jurisdiction to cover foreign stablecoin issuers who serve American users, suggesting a move towards broader oversight.

它還擴大了美國管轄範圍，以覆蓋為美國用戶服務的外國穩定發行人，並建議採取更廣泛的監督。

The latest draft also includes a revised definition of digital asset service providers and updates the types of assets that can be used to back stablecoins, hinting at potential changes in reserve management requirements.

最新草案還包括對數字資產服務提供商的修訂定義，並更新可用於支持StableCoins的資產類型，暗示了儲備管理要求的潛在變化。

These changes were made in response to feedback from key stakeholders, and they suggest an ongoing effort to forge consensus on critical aspects of digital asset regulation.

這些更改是為了響應主要利益相關者的反饋而進行，他們提出了持續的努力，以在數字資產調節的關鍵方面達成共識。

As the House Financial Services Committee prepares to vote on its own version of a stablecoin bill on May 10, the focus now shifts to the lower chamber to see how the legislation will progress.

當眾議院金融服務委員會準備在5月10日對自己版本的Stablecoin法案進行投票時，現在的重點轉移到下部會議廳，以了解立法將如何進行。