Oh my, it's quite lively over there on Capitol Hill! A group of senators, whose average age could be your grandfather, have recently been arguing intensely over something called the (Genius Stablecoin Act), the scene probably isn't much different from haggling in our local market.
What is this bill? Simply put, it aims to set rules and register those 'digital dollars' known as 'stablecoins'. Why is this so important? Because this thing is running all over the world now, if it's not managed well and one day it 'flips', it could have a much wider impact than a small bike falling down your building; the 'wallets' of global investors would shake along.
Originally, the two factions (two sides) had disagreements, like two stubborn donkeys in a tug-of-war, and it looked like this bill was about to 'get stuck' and become a 'half-finished building'. But guess what? At a crucial voting moment, an 81-year-old grandmother senator accidentally fell! This fall was significant, directly changing the 'plot'!
It turns out that the grandmother's fall delayed things a bit, causing the originally opposing votes against the bill to be insufficient! The opposition lost a vote! As a result, a crucial 'checkpoint' vote (procedural motion) was unexpectedly and dramatically passed! This plot, even the screenwriter wouldn't dare to write it this way; reality is always more exciting than fiction! Netizens joked: Is this 'heaven's will' to give stablecoins a 'registration'?
Now it's good, the roadblock has temporarily been moved away by this 'accident'. Next, the U.S. Senate is about to conduct the final 'stamp' vote on this bill (final vote). If it really passes in the end, it would officially give these 'digital dollars' an official 'ID card' and 'code of conduct manual'.
What impact does this have on us ordinary onlookers, or those with a bit of 'digital money' in hand?
'Wild kids' are about to become 'well-behaved students'? In the future, stablecoins operating in the U.S. will have to play by the rules, proving they really have enough 'real dollars' or reliable assets backing them, and cannot engage in 'empty-handed tricks'. Theoretically, the USDT, USDC in your wallet might be more reliable (of course, provided they follow the rules).
'Street swindlers' are going to feel uncomfortable? With stricter rules, those who want to fish in troubled waters and issue 'air stablecoins' will have less room to survive. For the entire market environment, this is a long-term positive, at least moving towards 'fewer pitfalls'.
Is there hope for a 'turnaround'? The market saw that such a big entity like the U.S. wants to give stablecoins a 'name', confidence might just rise. In the past few days, Bitcoin and others have jumped a little, like they've been energized, maybe related to this event.
Are the 'rules of the game' clearer? With laws to rely on, big institutions and companies can play with more confidence. Who knows, in the future when you swipe a card or buy something, there might be a shadow of stablecoins behind it? Convenience and safety, theoretically, can be better achieved.
This big drama on Capitol Hill, thanks to the 'accidental assist' from a respected elder, has allowed the bill to set rules for 'digital dollars' to pass a crucial hurdle. If this really comes to fruition, it would be like setting up a lighthouse in the chaotic 'crypto world', telling everyone: you can play, but you must play by the rules, and don’t harm others! In the long run, it's a potential good news for ordinary holders (wallets may be safer), and it's a big step towards 'regularization' for the entire industry.
However, investing carries risks, and market entry requires caution. Even with an 'ID card', the crypto market will still have its 'party' moments. As onlookers, let's enjoy the spectacle, learn a bit, keep our wallets tight, and do what we need to do! Let the old men and women of Wall Street continue their 'intellectual battles'!
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