#美国稳定币法案 The United States has multiple proposals related to stablecoin legislation, the more well-known ones being the "Stablecoin Transparency and Accountability Promotion Act of 2025" ("STABLE Act of 2025") and the "Guiding and Establishing the United States National Stablecoin Innovation Act" ("GENIUS Act"). Below are the relevant introductions:

"STABLE Act of 2025"

• Proponents: Introduced by Representatives Bryan Steil and French Hill.

• Regulatory Focus: Focuses on payment stablecoins, specifying that they must be used as a means of payment or settlement, denominated in national currency, and that issuers must commit to fixed amount redemptions, among other conditions.

• Issuer Requirements: Includes approved insurance deposit institution subsidiaries, federally certified non-bank payment stablecoin issuers, and state-certified payment stablecoin issuers.

• Reserve Requirements: Issuers must hold reserves not less than 100% of the total outstanding stablecoins, such as U.S. dollar cash, Federal Reserve Bank deposits, and short-term U.S. Treasury securities.

• Regulatory Agencies: Office of the Comptroller of the Currency (OCC), U.S. Federal Reserve Board, Federal Deposit Insurance Corporation (FDIC), and National Credit Union Administration (NCUA), among others.

"GENIUS Act"

• Proponent: Introduced by Senator Bill Hagerty.