The #美国稳定币法案 bill clearly defines payment-type stablecoins, which must be denominated in national currency, with issuers committing to redeem at a fixed amount, and they do not belong to national currency or investment company securities. Issuance qualifications are strictly limited to approved insurance deposit institution subsidiaries and federally or state-certified non-bank payment-type stablecoin issuers. Issuers must hold 100% reserve assets, covering U.S. dollar cash, Federal Reserve Bank deposits, short-term U.S. government bonds, etc. A monthly reserve composition report must be released and audited by an independent accounting firm, with written certification from the CEO and CFO. Regarding custody, only financial institutions regulated by federal or state authorities can provide services, with customer assets prioritized and prohibited from being included in the issuer's balance sheet. Regulatory violations will face penalties such as suspension of qualifications, cease-and-desist orders, civil fines, and even criminal penalties.