经过长时间的政治斗争，参议院成功地推进了指导和建立

经过长时间的政治斗争，参议院成功地推进了指导和建立

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.

在民主党参议员进行了长时间的政治战斗和最后一刻的请求之后，参议院在周一晚上成功地推进了指导和建立2025年美国稳定的国家创新（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.

如果具有里程碑意义的法案清除了最终的程序投票和对该法案本身的投票，它将重写美国的加密历史，建立第一个调节Stablecoins的综合框架，该框架是新兴数字资产生态系统的关键组成部分。

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.

该法案获得了66-32的程序投票，在修正案解决其道德问题之后，几名民主党人赞成投票。现在，它返回参议院进行最后一票，如果通过，该账单将把账单发送到众议院。由于此步骤仅需要简单的多数，因此该法案的支持者对其通过的乐观很乐观。

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.

尽管被引入两党法案，但《天才法案》仍面临着一些政治挑战。民主党人抗议涉及唐纳德·特朗普总统及其家人的加密帝国的冲突和腐败。

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报道的那样，参议院未能在民主党参议员要求对该法案进行进一步修正的过程中，在关键的程序投票中推进稳定法案。伊丽莎白·沃伦（Elizabeth Warren）和伯尼·桑德斯（Bernie Sanders）等著名领导人批评了该法案，这表明这可以为总统的财务自我交易打开了大门。

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.

一旦在参议院的辩论进行辩论之后，全力投票就会结束，《天才法》将搬到众议院，在那里进行审查和投票。众议院一直在制定自己的稳定法，《稳定法案》，专家认为，这两个法案之间的和解可能是最佳的监管清晰度。

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.

上周，参议员比尔·哈格蒂（Bill Hagerty）声称参议院将通过该法案，后来补充说，周一可能会“可能”发生。该法案还获得了主要行业领导者的支持，包括XRP律师约翰·迪顿（John Deaton），美联储主席杰罗姆·鲍威尔（Jerome Powell），硬币中心首席执行官杰里·布里托（Jerry Brito），SEC SEC主席保罗·阿特金斯（Paul Atkins）和Coinbase Coinbase首席执行官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.

该法案（如果通过）可以为Stablecoins建立一个监管框架，该框架是一种加密货币，将其固定在诸如美元之类的稳定资产上。该法案将引入护栏，以确保这些数字资产的稳定性，同时还为其提供官方验证。

Some of the key provisions of the GENIUS Act include:

《天才法》的一些关键规定包括：

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

•该法案将为Stablecoins创建新的监管制度，并将其置于美联储的监督之下。

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

•这将要求Stablecoin发行人持有资本储备并进行周期性压力测试。

• 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.

•该法案还将对Stablecoin发行人施加新的报告要求，并在必要时赋予美联储有权干预市场以保持稳定性。

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.

美国参议院推进《天才法》是加密货币行业的里程碑，因为它提供了急需的监管清晰度，并且对于增强投资者对市场的信心至关重要。

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发行人也表示支持该行为，因为它可以帮助将数字资产集成到传统的金融系统中。

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.

随着美国朝着正式化Stablecoin法规的正式化，它加入了越来越多的国家，希望利用蓬勃发展的加密货币行业。例如，巴西已提出了针对新监管框架的一部分，对Stablecoin转移提出了严格的规则。另一方面，埃尔·萨尔瓦多（El Salvador）最近从其比特币（BTC）储备金中拥有3.57亿美元的名义收益。