The repeated legislative process of US stablecoin and the differences between the two parties indeed bring significant uncertainty for industry innovation and user trust. The Democrats' withdrawal of support focuses on the weakening of anti-money laundering (AML) and national security provisions in the GENIUS Act. The current bill attempts to establish a federal framework, but some provisions have sparked controversy. The $10 billion threshold for non-bank institutions to issue stablecoins has been criticized as 'overly favoring traditional banks,' potentially stifling the participation of emerging enterprises. This dual regulatory system, if lacking coordination, will increase compliance costs and hinder the development of small and medium-sized innovators. The executive orders from the Trump era still influence the current legislative direction. Its emphasis on 'economic freedom' may exacerbate the Democrats' conflict over deregulation, especially concerning questions of conflicts of interest.