In 2023, the United States took an important step in stablecoin regulation. On March 13, local time, the U.S. Senate Banking Committee passed the "Guidance and Establishment of the U.S. Stablecoin National Innovation Act" (the "GENIUS Act") with a vote of 18 to 6, marking an important beginning for the bill towards becoming law. The bill will regulate U.S. stablecoin issuers at the federal level. This legislation focuses on payment stablecoins, aiming to construct a clear regulatory framework, ensure transparency, accountability, and consumer rights, and promote their normative application in the digital economy.