#美国稳定币法案 The United States has taken an important step in the regulation of stablecoins. On March 13 local time, the U.S. Senate Banking Committee passed the "Guidance and Establishment of the American Stablecoin National Innovation Act" (the "GENIUS Act") with a vote of 18 to 6, marking a significant beginning for the bill towards becoming law. The bill will regulate U.S. stablecoin issuers at the federal level. This legislation focuses on payment-type stablecoins, aiming to establish a clear regulatory framework that ensures transparency, accountability, and consumer rights, promoting their regulated use in the digital economy.

The bill explicitly defines payment-type stablecoins as those that must be denominated in national currency, with issuers committing to redeem at a fixed amount, and not classified as national currency or investment company securities. Issuance eligibility is strictly limited to approved depository institution subsidiaries and federally or state-certified non-bank payment-type stablecoin issuers. Issuers must hold 100% reserve assets, covering cash in USD, deposits in Federal Reserve Banks, and short-term U.S. Treasury securities.