随着特朗普的亲核算转弯塑造立法者如何应对数字资产政策，一项新的两党努力控制稳定的stablecoins正在搁浅

特朗普总统突然的加密携带重新解释了这项措施的道路。特朗普今天最初是数字货币的强烈反对者，今天支持区块链创新

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.

最初由参议员Kirsten Gillibrand（DN.Y.）和Cynthia Lummis（R-Wyo。）引入的两党努力，最初是由唐纳德·特朗普（Donald Trump）总统的亲克赖特托（Pro-Crypto）立场正面临新的政治摩擦。

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.

该措施旨在建立一个国家框架，以监督与美元有关的持续货币（与美元相关的cryptocrenty），负责通过监控系统性风险，为联邦或州注册设定了清晰的途径，并指定了储备金需求。

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，特朗普总统突然的加密货币已经重新解释了这一措施的道路。特朗普最初是数字货币的强烈反对者，他来支持区块链创新，数字资产竞争力，甚至为他的连任竞选活动提供加密货币。

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.

这种转变加剧了政治分歧。一些民主党人谨慎地推进立法，这似乎支持总统的亲克赖特托叙述，而特朗普一致的共和党人则强调了他的立场是他们倡导其最小政府干预的关键因素，并指责民主党人扼杀创造力。

“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.

一位高级参议院工作人员解释说：“这项法案是在考虑到平衡的情况下制定的，但是现在，它陷入了一场更广泛的意识形态斗争，因为美国想要领导哪种财务未来，而不仅仅是加密货币。”

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.

该法案的混合方法允许Stablecoin发行人在州政权下运营或选择新的联邦宪章，从而授予他们控制权。但是，它最终将美联储授予批准新发行人并监督更广泛的金融稳定的权力，这一规定是某些共和党人反对的权力。

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，进步的民主党人认为，法律将允许在本来已经动荡不安的市场中欺诈或不稳定，而没有更积极的联邦监督和更强大的消费者保护。

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等行业领导人正在敦促立法者支持该法案，认为法律清晰度将促进信心并吸引对该行业的长期投资。这些公司还主张不会妨碍创新或减慢发展的灵活法规。

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.

加密宣传团体，美国商会和金融技术联盟正在敦促国会继续采取措施，警告政治化加密政策可以使美国重返全球领域。

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

尽管紧张局势不断升级，但参议员卢米斯（Lummis）和吉利布兰德（Gillibrand）仍然充满希望。

“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.”

卢米斯参议员在最近的新闻稿中说：“我们需要一个稳定的框架来保护消费者并支持发明。” “政治不应使明智的，面向未来的政策脱轨。”

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.

随着2024年选举季节的升温，加密货币正从仅仅是财务上的关注转变为政治试金石测试。该措施的通过将取决于立法者是否优先考虑有意义的法规或纠缠在特朗普领导的加密叙事的视线中。

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