美國參議員公佈兩黨穩定幣法案，為 FDIC 覆蓋鋪平道路

為了建立支付穩定幣的監管透明度，美國參議員辛西婭·魯米斯(Cynthia Lummis) 和克爾斯滕·吉利布蘭德(Kirsten Gillibrand) 提出了《魯米斯-吉利布蘭德支付穩定幣法案》。這項兩黨立法旨在保護消費者、促進創新並維持美元在雙銀行體系中的主導地位。主要條款包括強制性的一對一準備金要求、禁止演算法穩定幣以及要求遵守反洗錢和製裁法規。此外，該法案還提議與 FDIC 建立“接管制度”，以保護客戶資金，這可能為符合既定標準的穩定幣發行人獲得 FDIC 保險打開大門。

US Senators Spearhead Bipartisan Stablecoin Bill, Paving the Way for FDIC Insurance

美國參議員帶頭推動兩黨穩定幣法案，為 FDIC 保險鋪路

In a momentous move, US Senators Cynthia Lummis and Kirsten Gillibrand have collaborated to introduce a comprehensive legislative framework aimed at regulating payment stablecoins. The Lummis-Gillibrand Payments Stablecoin Act, unveiled on April 17, seeks to strike a balance between fostering innovation, protecting consumers, and preserving the stability of the US dollar within the framework of the dual banking system.

美國參議員辛西婭·盧米斯 (Cynthia Lummis) 和克爾斯滕·吉利布蘭德 (Kirsten Gillibrand) 合作推出了旨在監管支付穩定幣的全面立法框架，這是一項重大舉措。 4 月 17 日公佈的《魯米斯-吉利布蘭德支付穩定幣法案》力求在雙銀行體系框架內促進創新、保護消費者和維護美元穩定之間取得平衡。

"This bill safeguards our dual banking system while implementing crucial guardrails to shield consumers and combat illicit finance, ensuring that innovation remains unhindered," remarked Senator Lummis.

盧米斯參議員表示：“這項法案保護了我們的雙重銀行體系，同時實施了重要的護欄來保護消費者並打擊非法金融，確保創新不受阻礙。”

Stablecoins, such as Tether's USDT and Circle's USDC, have gained significant traction in the cryptocurrency market, increasingly utilized as a medium of payment. Notably, US Treasury Deputy Secretary Adewale Adeyemo has raised concerns about Russia's alleged use of stablecoins, particularly USDT, to circumvent economic sanctions.

Tether 的 USDT 和 Circle 的 USDC 等穩定幣在加密貨幣市場中獲得了巨大的關注，越來越多地被用作支付媒介。值得注意的是，美國財政部副部長 Adewale Adeyemo 對俄羅斯涉嫌使用穩定幣（特別是 USDT）來規避經濟制裁表示擔憂。

Intricate Framework for Stablecoins

穩定幣的複雜框架

The Lummis-Gillibrand bill meticulously outlines an operational framework for stablecoins within the United States, representing a more targeted approach than previous initiatives. Stringent reserve requirements for issuers and operational guidelines form the cornerstone of this framework.

Lummis-Gillibrand 法案精心概述了美國境內穩定幣的營運框架，代表了比先前的舉措更有針對性的方法。對發行人的嚴格準備金要求和操作指南構成了該框架的基石。

Under the proposed legislation, issuers must operate either as non-depository trust institutions registered with the Federal Reserve Board of Governors or as depository institutions authorized for stablecoin issuance. Financial institutions seeking to venture into the stablecoin realm must establish dedicated subsidiaries for this purpose.

根據擬議的立法，發行人必須作為在聯準會理事會註冊的非存款信託機構或授權發行穩定幣的存款機構運作。尋求進入穩定幣領域的金融機構必須為此目的設立專門的子公司。

Registered issuers are required to maintain full dollar backing for their stablecoins, effectively prohibiting the use of algorithmic stablecoins. Furthermore, the bill caps the issuance of stablecoins by non-depository trust companies at $10 billion, requiring institutions exceeding this threshold to obtain authorization as national payment stablecoin issuers.

註冊發行人必須為其穩定幣維持全額美元支持，從而有效禁止使用演算法穩定幣。此外，該法案將非存款信託公司穩定幣的發行上限設定為100億美元，要求超過此門檻的機構必須獲得國家支付穩定幣發行機構的授權。

Consumer Protection and FDIC Insurance

消費者保護和 FDIC 保險

To instill confidence in consumers regarding the security of their funds, the bill establishes a "receivership regime" with the Federal Deposit Insurance Corporation (FDIC). This regime clearly defines the order of priority, claims validity, and classifies payment stablecoins as customer assets, distinct from the issuer's assets.

為了增強消費者對其資金安全的信心，該法案與聯邦存款保險公司（FDIC）建立了「接收制度」。該制度明確定義了優先順序、索賠有效性，並將支付穩定幣歸類為客戶資產，區別於發行人的資產。

Senator Gillibrand emphasized, "These provisions protect consumers by mandating one-to-one reserves, prohibiting algorithmic stablecoins, and obligating stablecoin issuers to adhere to US anti-money laundering and sanctions regulations."

參議員吉利布蘭德強調，“這些條款通過強制一對一儲備、禁止算法穩定幣以及要求穩定幣發行者遵守美國反洗錢和製裁法規來保護消費者。”

Dual Banking System Preservation

雙銀行系統保護

The Lummis-Gillibrand bill seeks to preserve the dual banking system, which allows banks to operate under either state or federal charters. This approach aims to promote innovation while ensuring financial stability, as state-chartered banks can offer a greater degree of flexibility and customization to meet the evolving needs of the market.

魯米斯-吉利布蘭德法案旨在保留雙重銀行體系，允許銀行根據州或聯邦特許經營。這種方法旨在促進創新，同時確保金融穩定，因為國有銀行可以提供更大程度的靈活性和客製化，以滿足市場不斷變化的需求。

Conclusion

結論

The introduction of the Lummis-Gillibrand Payments Stablecoin Act marks a significant step towards establishing a clear regulatory framework for payment stablecoins in the United States. By balancing consumer protection, innovation, and the stability of the US dollar, this legislation endeavors to create an environment that fosters responsible growth within the digital asset ecosystem. As the bill progresses through the legislative process, it will undoubtedly be subjected to scrutiny and debate, shaping the future of stablecoin regulation in the United States.

Lummis-Gillibrand支付穩定幣法案的推出標誌著美國朝著建立清晰的支付穩定幣監管框架邁出了重要一步。透過平衡消費者保護、創新和美元穩定，該立法致力於創造一個促進數位資產生態系統負責任成長的環境。隨著該法案通過立法程序的進展，無疑將受到審查和辯論，從而塑造美國穩定幣監管的未來。