#美国稳定币法案

The US Stablecoin Act legislation is accelerating: compliance and political games are intertwined

The core content of the bill passed by the House of Representatives on April 3:

1️⃣Issuance threshold: only federal/state regulated banks and compliant non-bank institutions can issue US dollar stablecoins;

2️⃣Reserve requirements: 100% high-liquidity asset reserves, algorithmic stablecoins are prohibited during the two-year transition period;

3️⃣Political controversy: Trump family World Liberty project is suspected of insider trading, and the Democratic Party's amendment is blocked. If the bill is implemented, it may benefit compliant institutions such as Circle, but market concentration may inhibit DeFi innovation. The results of the Senate review are expected to be announced in June.