In 2025, the United States made significant strides 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 step towards the law. This bill will regulate U.S. stablecoin issuers at the federal level. The bill focuses on payment stablecoins, aiming to create a clear regulatory framework that ensures transparency, accountability, and consumer rights, promoting their standardized application in the digital economy.