美国参议院朝着监管加密货币市场迈出了重要一步

这标志着多年来数字资产调节的第一个真正的运动，它已经在过道的两边引起了争议。

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.

美国参议院周一朝着监管加密货币市场迈出了重要一步，以66-32投票推进《天才法》，这是一项针对Stablecoin监督的两党法案。

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

这标志着多年来数字资产立法的第一个真正的运动，这已经引起了过道两边的争议。

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.

该法案正式被称为“美国稳定法案（GENIUS）法案的必要基础设施，旨在建立第一个用于调节稳定稳定的联邦框架，该框架是由菲亚特货币（如美元）支持的数字代币。经过数周的紧张谈判，尤其是在以前团结起来封锁的民主党人之后，它进步了。

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.

两周前，每个参议院民主党人都与参议员兰德·保罗（Rand Paul）和乔什·霍利（Josh Hawley）联手，以使该法案陷入僵局，理由是需要更强大的国家安全和反货币洗钱规定。但是在闭门造车后面，一群参议员 - 包括马克·华纳（Mark Warner）（D-VA），Kirsten Gillibrand（D-NY）和Cynthia Lummis（R-WY），并在上周进行了突破。

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.

该协议包括对新消费者保护的修正案，技术公司参与Stablecoins的限制以及适用于埃隆·马斯克（Elon Musk）和戴维·萨克斯（David Sacks）等有影响力的人物的临时道德扩展。这些变化说服了16名民主党人翻转并支持程序投票。

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.

尽管取得了进展，但民主党人仍然存在深刻的分歧，尤其是在特朗普家族的加密参与中。唐纳德·特朗普（Donald Trump）总统与他的模因硬币的顶级持有人以及与世界自由金融（World Liberty Financial）的商业联系，引起了人们对山丘的关注。

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.

尽管《天才法案》包括一项条款，以防止国会的现任成员或执行官员发行稳定的条款，但批评者说这还不够远。参议员伊丽莎白·沃伦（Elizabeth Warren）从参议院的地板上宣布“巨大的腐败”，警告该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.

沃伦周一说：“基本缺陷仍然没有解决，”他推动了更强大的限制，以防止特朗普或其他官员在任职期间获得数字资产。

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.

参议员迈克尔·本内特（D-CO）计划引入稳定法案，该法案将禁止民选官员和联邦候选人完全发行或认可数字代币。该修正案可能会在本周的底层辩论中提出，尽管不太可能通过共和党控制的会议厅。

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.

参议院多数党领袖约翰·图恩（R-SD）批评了这一延误，称民主党人最初被阻止的法案几乎没有改变。他说：“很难理解为什么我们需要再等11天。”直到阵亡将士纪念日休会之后，才预计对《天才法》的最后一票。

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

尽管如此，在法案后面的两党能量之后，动力显然仍在建立。

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.

即使参议院通过了《天才法》，其在众议院的道路仍然不确定。规范稳定发行人的一项不同的法案已经在那里流传，围绕谁应该执行这些规则的SEC，CFTC或新的特定于加密货币的机构。

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

尽管政治交火，但行业中的许多人都充满希望。 Coinbase公共政策副总裁Kara Calvert赞扬了投票：

“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.”

“如果国会通过了这项法案，这对于想要更快和更轻松的美国人来说是一场胜利。这不仅仅是该行业的胜利。”

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》是最接近的国会多年来真正的加密法规。但是，随着战斗的前进，焦点仍然存在于特朗普的加密货币交易，民主分裂以及立法者对快速发展的行业真正想要多少控制。该法案的最终版本是否会满足加密货币倡导者和政府监管机构，还有待观察。