穩定幣法案在國會獲得通過，可能被納入美國聯邦航空總署重新授權

正如眾議院領導層和參議院多數黨領袖舒默之間的討論所表明的那樣，穩定幣立法的進展可能會在今年夏天或在跛腳鴨會議期間實現。 Punchbowl News 和 Politico 都報道稱，舒默會見了眾議院金融服務委員會主席麥克亨利，並與民主黨人沃特斯會面，討論眾議院主導的穩定幣法案。立法者考慮將該法案附加到美國聯邦航空局的重新授權中，但可能會被納入其他年終法案或跛腳鴨會議期間。

Stablecoin Legislation Advances in Congress, Attachment to FAA Reauthorization Possible

穩定幣立法在國會取得進展，可能獲得美國聯邦航空管理局 (FAA) 重新授權

Legislative efforts to establish a regulatory framework for stablecoins gained momentum recently following discussions between top House and Senate leaders. Investment bank TD Cowen reported that House Financial Services Chair Patrick McHenry (R-N.C.) and ranking Democrat Maxine Waters (D-Calif.) met with Senate Majority Leader Chuck Schumer (D-N.Y.) last week to deliberate on the House-led stablecoin legislation.

經過參眾兩院高層領導人的討論，建立穩定幣監管框架的立法努力最近取得了勢頭。投資銀行TD Cowen 報道稱，眾議院金融服務業主席帕特里克·麥克亨利（北卡羅來納州共和黨人）和民主黨資深民主黨人瑪克辛·沃特斯（加利福尼亞州民主黨人）上週會見了參議院多數黨領袖查克舒默（紐約州民主黨人），商討眾議院-主導穩定幣立法。

According to Punchbowl News and Politico, the lawmakers explored the possibility of attaching the bill to the upcoming Federal Aviation Administration (FAA) reauthorization, which may also include cannabis banking legislation. The FAA reauthorization expires on May 10, but the urgency to address Iran's attack on Israel could afford lawmakers more time, TD Cowen noted on Monday. Stablecoin legislation could also be incorporated into end-of-year bills such as the National Defense Authorization Act.

根據 Punchbowl News 和 Politico 報道，立法者探討了將該法案附加到即將到來的聯邦航空管理局（FAA）重新授權的可能性，其中可能還包括大麻銀行立法。 TD Cowen 週一指出，美國聯邦航空局的重新授權將於 5 月 10 日到期，但解決伊朗襲擊以色列的緊迫性可能會為立法者提供更多時間。穩定幣立法也可以納入年終法案，例如《國防授權法》。

"There is a path for stable coin legislation," said the TD Cowen Washington Research Group in a note. "It would require the backing of Team Biden and the inclusion of AML/BSA crypto controls. It also could be paired with a Democratic priority."

TD Cowen 華盛頓研究小組在一份報告中表示：“穩定幣立法有一條道路。” “這需要拜登團隊的支持，並納入 AML/BSA 加密貨幣控制。它也可以與民主黨的優先事項相結合。”

The House and Senate have passed their respective versions of FAA reauthorization bills and are reconciling differences, with safety issues taking precedence, according to Ron Hammond, director of government relations at the Blockchain Association.

區塊鏈協會政府關係總監羅恩·哈蒙德表示，眾議院和參議院已經通過了各自版本的美國聯邦航空局重新授權法案，並正在協調分歧，其中安全問題優先。

Hammond highlighted the necessity of passing the FAA reauthorization bill but cautioned about potential last-minute drama. He expressed concerns that including a stablecoin bill in the FAA reauthorization could encourage other lawmakers to add their own bills as the year-end approaches, potentially jeopardizing the passage of the legislation.

哈蒙德強調了通過美國聯邦航空局重新授權法案的必要性，但警告可能會出現最後一刻的戲劇性事件。他表示擔心，將穩定幣法案納入美國聯邦航空總署的重新授權可能會鼓勵其他立法者在年底臨近時添加自己的法案，這可能會危及該立法的通過。

Current Status of Legislation

立法現狀

Representatives Waters and McHenry have been collaborating on a regulatory framework for stablecoins, although industry sources indicate that discussions regarding the primary regulator for stablecoin issuers have stalled. The bill passed through their committee over the summer, but it was met with partisan opposition. Congressional Republicans attributed the resistance to the White House. Waters criticized the bill as "deeply problematic" because it allows state regulators to approve stablecoin issuances without Federal Reserve oversight.

眾議員沃特斯和麥克亨利一直在合作制定穩定幣的監管框架，儘管行業消息人士表示，有關穩定幣發行人主要監管機構的討論已經陷入僵局。該法案於今年夏天通過了他們的委員會，但遭到了黨派的反對。國會共和黨人將抵制歸咎於白宮。沃特斯批評該法案“存在嚴重問題”，因為它允許州監管機構在沒有美聯儲監督的情況下批准穩定幣發行。

In the Senate, Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) announced their plans to introduce a stablecoin bill aimed at defining stablecoins and safeguarding consumers.

在參議院，參議員辛西婭·魯米斯（懷俄明州共和黨）和克爾斯滕·吉利布蘭德（紐約州民主黨）宣布計劃推出一項穩定幣法案，旨在定義穩定幣並保護消費者。

Potential Compromise and Challenges

潛在的妥協與挑戰

Reports suggest a potential compromise to secure the passage of a stablecoin bill. Senate Democrats advocate for a marijuana banking bill, the Secure and Fair Enforcement Regulation Banking Act, which could be traded off against a stablecoin bill. The banking bill would permit financial institutions to provide services to the marijuana industry.

報告提出了一個可能的妥協方案，以確保穩定幣法案的通過。參議院民主黨人主張制定一項大麻銀行法案，即《安全和公平執行監管銀行法》，該法案可以與穩定幣法案進行權衡。銀行法案將允許金融機構向大麻產業提供服務。

Should the Senate reach a compromise, it would still face obstacles in the House, where Speaker Mike Johnson (R-La.) has consistently opposed the marijuana banking bill, according to several news outlets.

根據多家新聞媒體報道，即使參議院達成妥協，它仍將在眾議院面臨障礙，眾議院議長麥克約翰遜（路易斯安那州共和黨人）一直反對大麻銀行法案。

Despite these challenges, Hammond remains optimistic about the prospects of stablecoin legislation passing this year. He stated that if the bill is not attached to the FAA reauthorization, it has opportunities through the NDAA, an aid bill, or during the lame-duck session after the elections.

儘管有這些挑戰，哈蒙德仍然對今年通過穩定幣立法的前景感到樂觀。他表示，如果該法案不附加美國聯邦航空局的重新授權，它有機會通過《國防授權法案》、一項援助法案，或在選舉後的跛腳鴨會議期間獲得機會。