美國參議院的新數字資產小組委員會舉行了有關Stablecoin和市場結構立法的首次聽證會

週三，參議院銀行委員會的新數字資產小組委員會舉行了有關探索兩黨立法框架數字資產的首次聽證會。

The U.S. Senate’s new digital assets subcommittee held its first hearing on stablecoin and market structure legislation, while the CEO of the market-leading stablecoin believes his competitors are plotting a murder.

美國參議院的新數字資產小組委員會舉行了首次關於Stablecoin和市場結構立法的聽證會，而市場領先的Stablecoin首席執行官認為他的競爭對手正在謀殺謀殺案。

The Senate Banking Committee’s subcommittee on digital assets began rolling this year with a session titled Exploring Bipartisan Legislative Frameworks for Digital Assets.

參議院銀行委員會的數字資產小組委員會於今年開始滾動，標題為“探索兩黨的數字資產立法框架”。

The Senate is currently contemplating several legislative proposals addressing digital assets, including a planned market structure bill similar to last year’s FIT21. But the immediate focus is squarely on stablecoins.

參議院目前正在考慮一些有關數字資產的立法提案，其中包括一項與去年FIT21相似的計劃市場結構法案。但是，直接的重點是穩定的。

In the Senate, there’s the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act introduced by Sen. Bill Hagerty (R-TN). There are two stablecoin bills in the House, the GOP-led Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, and the ‘bipartisan’ discussion draft introduced last week by Rep. Maxine Waters (D-CA) based on work she and now-retired Rep. Patrick McHenry (R-NC) did in the last Congress.

在參議院中，參議員比爾·哈格蒂（Bill Hagerty）（R-TN）提出了為美國穩定者（GENIUS）的指導和建立國家創新。房屋中有兩項穩定的法案，共和黨領導的穩定性透明度和對更好的銷售經濟法（穩定）法案（穩定）法案，以及上週由眾議員Maxine Waters（D-CA）推出的“兩黨制”討論草案，其基於她和現已退休的Patrick Mchenry（R-NC）的工作，在最後一家中涉及。

We’ll get to the hearing in a moment, but we first want to highlight some interesting chatter that emerged in the days before the Senate hearing. On February 24, Vance Spencer, co-founder of crypto-friendly venture capital group Framework Ventures, tweeted a claim that the “soon-to-be revealed stablecoin markup apparently has requirements to shut off access to the [U.S. Treasury bill] market to centralized international stablecoin issuers.”

我們將稍後進行聽證會，但我們首先想強調參議院聽證會前幾天出現的一些有趣的chat不休。 2月24日，加密友好的風險投資集團框架合作公司Vance Spencer在推特上發表了一條聲稱，“即將揭示的Stablecoin Markup顯然有要求關閉進入[美國財政部帳單]對集中的國際Stablecoin發行人的訪問權的要求。”

Spencer called this alleged plan “a blatant attempt at regulatory capture by U.S. players done at the expense of U.S. national interest … The largest stablecoins today are built overseas, and the largest source of demand is overseas … The future of stablecoins can be U.S. dollar based only if we allow a broader competitive set of stablecoin issuers to flourish and deny gatekeeping/gaslighting by those interested in regulatory capture[.]”

斯賓塞稱這項涉嫌計劃“公然以犧牲我們國家利益為代價的美國球員進行監管捕獲的嘗試……當今最大的斯塔布萊幣是在海外建造的，最大的需求來源是海外的來源……只有我們允許在更廣泛的競爭者中啟動和拒絕的競爭力，才能以更廣泛的競爭者為基礎。

It’s no secret that the stablecoin bills currently up for discussion appear intended to favor U.S.-based Circle—issuer of the USDC stablecoin via a partnership with the Coinbase (NASDAQ:COIN) digital asset exchange—at the expense of USDT, the highly controversial market-leading stablecoin issued by Tether.

當前進行討論的Stablecoin法案似乎是為了支持美國基於美國的圈子的穩定賬單，這是USDC Stablecoin的成立者通過與Coinbase（NASDAQ：COIN）數字資產交換的合作夥伴關係的，這是USDT的代價，這是一個極為有爭議的市場領先的STABLECOIN。

The day before the hearing, Bloomberg quoted Circle CEO Jeremy Allaire saying stablecoin legislation “is the first priority” of President Donald Trump’s administration. But Allaire claimed that there shouldn’t be a “free pass” for stable issuers who “just ignore the U.S. law and go do whatever the hell you want wherever and sell into the United States.” Issuers looking to offer dollar-denominated stables in America “should need to register in the U.S. just like we have to go register everywhere else.”

聽證會的前一天，彭博社援引Circle首席執行官傑里米·阿萊爾（Jeremy Allaire）的話說，唐納德·特朗普（Donald Trump）總統政府的立法“是首要任務”。但是Allaire聲稱，對於穩定的發行人來說，不應該有“免費的通行證”，他們“只是忽略美國法律，然後去任何您想在任何地方進行地獄，然後賣入美國。”希望在美國提供以美元計價的馬s的發行人“應該像我們必須在其他任何地方註冊一樣在美國註冊。”

Coinbase CEO Brian Armstrong recently stated a goal of making USDC the “number one dollar stablecoin” while suggesting that Coinbase would delist USDT should the U.S. approve regulations with which Tether is unable to comply. Coinbase and other exchanges have already delisted USDT in Europe to comply with the EU’s Markets in Crypto-Assets (MiCA) regulations.

Coinbase首席執行官Brian Armstrong最近指出了將USDC成為“第一美元Stablecoin”的目標，同時建議Coinbase如果美國批准了Tether無法遵守的法規，Coinbase將使USDT脫穎而出。 Coinbase和其他交易所已經使USDT在歐洲劃分，以遵守加密資產（MICA）法規中的歐盟市場。

Those at Circle/Coinbase aren’t the only ones targeting Tether’s dominance. On February 25, Bloomberg quoted PayPal (NASDAQ:PYPL) execs saying they’re looking to expand merchant usage of PYUSD, the dollar-denominated stablecoin the company launched in August 2023.

那些在Circle/Coinbase的人並不是唯一針對繫繩主導地位的人。 2月25日，彭博（Bloomberg）引用了PayPal（NASDAQ：PYPL）高管的話說，他們正在尋求擴大以美元計價的穩定股的商人使用，該公司於2023年8月成立。

PYUSD currently claims a market cap of just $700 million, down from $1 billion shortly after its launch, but the company hopes to reverse that slide in part by making PYUSD available through Hyperwallet, the platform that PayPal acquired in 2018. Hyperwallet focuses on payments for “marketplace sales, commissions, insurance settlements, charities, clinical study reimbursements, airlines, and employee benefits.” The plan is for Hyperwallet to begin offering a PYUSD option by mid-year.

PYUSD目前聲稱的市值僅為7億美元，低於推出後不久的10億美元，但該公司希望通過使Pyusd通過Hyperwallet提供，該平台在2018年獲得的平台，HyperWallet在2018年獲得的平台。HyperWallet專注於“市場銷售，佣金，佣金，委員會的益處，委託人，臨床研究，並僱用待遇者，並僱用了空費，並僱用了空費，並僱用了空中委員會。該計劃是讓Hyperwallet在年中開始提供PYUSD選項。

It’s not just crypto operators who are making a move, as Bank of America (BoA) CEO Brian Moynihan said this week that his firm might issue its own dollar-denominated tokens linked to dollar deposit accounts. According to Moynihan, if they make that legal, we will go into that business, although “what it’s useful for is going to be interesting.” (We’ll say.)

正如美國銀行（BOA）首席執行官布萊恩·莫尼漢（Brian Moynihan）本週表示，他的公司可能會發布與美元存款帳戶相關的以美元計價的代幣，這不僅是加密運營商正在採取行動。根據Moynihan的說法，如果他們合法，我們將開始從事這項業務，儘管“它的用處將很有趣”。 （我們要說的。）

And don’t expect BoA to be a banking-stable outlier for long. Earlier this month, Federal Reserve Governor Christopher Waller said, “a U.S. regulatory and supervisory framework … should allow both non-banks and banks to issue regulated stablecoins.”

而且不要期望BOA長期成為銀行業穩定的異常值。美聯儲州長克里斯托弗·沃勒（Christopher Waller）本月早些時候說：“美國的監管和監督框架……應該允許非銀行和銀行簽發受監管的穩定股。”

Tether finds more friends in Trump’s inner circle

系車在特朗普的內心圈子中找到了更多朋友

While Waters has been emphatic in her desire to keep Tether out of a U.S. regulated stablecoin market, all the bills currently circulating would impose conditions that Tether has steadfast

儘管沃特斯（Waters）一直在渴望將束縛脫離美國受監管的穩定市場的願望，但目前流通的所有賬單都將施加束縛的條件