The issuance of stablecoins (such as USDT, USDC) amounting to $86,061,768,151 is subject to federal regulation, requiring them to hold high-quality dollar assets at a 1:1 ratio and comply with anti-money laundering regulations. However, some Democratic lawmakers have withdrawn their support for the bill due to concerns over national security and anti-money laundering provisions, resulting in uncertainty about its prospects. Additionally, the STABLE Act emphasizes the 'redemption right' of stablecoins, ensuring that users can exchange stablecoins for dollars at a 1:1 ratio and prohibiting the issuance of algorithmic stablecoins that lack legal currency backing. These legislative developments could reshape the global stablecoin landscape and strengthen the dollar's dominance in the digital asset space.