使用Stablecoins，美國現在似乎準備好領導一個新的數字金融時代，在那里美元...保留了更多的統治地位。

特朗普政府正在將穩定的人變成美國戰略的中心支柱，以鞏固美元的統治地位並幫助為聯邦政府提供資金。

The Trump administration is setting the stage for a U.S.-led era of digital finance with stablecoins, aiming to cement dollar dominance and help fund the federal government.

特朗普政府正在為美國領導的數字融資時代奠定基礎，以鞏固美元的統治地位並幫助為聯邦政府提供資金。

As Federal Reserve Governor Christopher Waller explained in a February speech, stablecoins allow people around the world to hold and use U.S. dollars on public blockchains—without needing a bank account. That single shift opens the door to something far bigger: access to the vast global deposit market.

正如美聯儲州長克里斯托弗·沃勒（Christopher Waller）在2月的演講中解釋的那樣，Stablecoins允許世界各地的人們在公共區塊鏈上持有和使用美元 - 不需要銀行帳戶。這種單個轉變為更大的事情打開了大門：進入龐大的全球存款市場。

According to McKinsey & Company, the global financial system holds $117 trillion in bank deposits, including $65 trillion in personal deposits. Stablecoins—especially U.S.-licensed and dollar-denominated ones—offer a way to tap into this market from the bottom up, bypassing traditional banks and reshaping how the dollar circulates globally.

據Mckinsey＆Company稱，全球金融體系持有117萬億美元的銀行存款，包括65萬億美元的個人存款。穩定幣（尤其是由我們許可的和美元計價的人），從自下而上的方式中投入到這個市場，繞過傳統銀行並重塑美元在全球範圍內如何流通。

This week, the Senate Banking Committee passed the GENIUS Act—short for Guiding and Establishing National Innovation for U.S. Stablecoins—by a vote of 18–6.

本週，參議院銀行委員會通過了《天才法》（Genius Act），這是通過18-6的投票，該法案是指導和建立國家創新的國家創新。

Sponsored by Senator Bill Hagerty and later endorsed by President Trump, the bill sets clear rules for dollar-backed stablecoins and requires issuers to maintain reserves of at least 1:1 in readily convertible assets, such as U.S. dollar–denominated coins and cash, insured bank deposits, balances at the Federal Reserve, short-term U.S. Treasuries, repurchase agreements, and money market funds.

該法案由參議員比爾·哈格蒂（Bill Hagerty）贊助，後來得到特朗普總統的認可，為美元支持的穩定幣制定了明確的規定，並要求發行人在易於轉換的資產中保持至少1：1的儲備，例如美元兌換的貨幣和現金，在美聯儲的銀行儲備金，兌換貨幣籌集的企業，籌集了貨幣，並依據的貨幣，並進行了貨幣，並進行了批評，並進行了收購。

The act also mandates that issuers follow anti-money laundering, sanctions, and cybersecurity regulations.

該法案還規定，發行人遵循反洗錢，制裁和網絡安全法規。

The bipartisan vote comes after months of debate over the best way to regulate stablecoins and protect the financial system from any risks posed by these new technologies.

兩黨的投票是在幾個月的辯論之後進行的，該辯論是關於規範穩定劑並保護金融體系免受這些新技術帶來的任何風險的最佳方法的辯論。

“The benefits of strong stablecoin innovation are immense—from enhancing transaction efficiency to driving demand for U.S. Treasuries,” said Hagerty. “We can realize these benefits while also safeguarding macroeconomic stability and the integrity of our financial system with common-sense policies.”

Hagerty說：“強大的Stablecoin創新的好處是巨大的，從提高交易效率到推動美國國債的需求。” “我們可以實現這些好處，同時還可以維護宏觀經濟穩定性以及我們通過常識政策的金融體系的完整性。”

The House Financial Services Committee is expected to vote on a similar bill next month.

眾議院金融服務委員會預計將在下個月對類似法案進行投票。

Meanwhile, private sector efforts are also gaining momentum. World Liberty Financial (WLFI), a crypto platform backed by President Trump, announced this week that it has raised $550 million through token sales and launched its own dollar-backed stablecoin, USD1.

同時，私營部門的努力也在增強勢頭。由特朗普總統支持的加密平台世界自由金融（WLFI）本周宣布，它已通過代幣銷售籌集了5.5億美元，並推出了自己的美元支持的Stablecoin，USD1。

Cryptocurrencies and stablecoins have increasingly been used to bypass U.S. sanctions and traditional payment systems. But now, Washington appears ready to flip the script—by letting global users hold and spend USD-backed, U.S.-controlled stablecoins without relying on banks. It’s a direct channel for exporting American monetary power, without intermediaries.

加密貨幣和穩定幣越來越多地用於繞過我們的製裁和傳統的支付系統。但是現在，華盛頓似乎已經準備好翻轉腳本 - 通過讓全球用戶持有並花費美元支持的，由美國控制的穩定股，而無需依賴銀行。這是出口美國貨幣力量的直接渠道，沒有中介。

Washington’s new approach to crypto and stablecoins? Can’t beat them? Regulate them—and turn them into tools of dollar dominance and geopolitical leverage.

華盛頓的加密和穩定劑的新方法？不能擊敗他們嗎？調節它們，並將其變成美元的支配工具和地緣政治槓桿作用。

A New Bretton Woods—Onchain

新的布雷頓樹林 - 鏈

The GENIUS Act isn’t just regulation. It’s the groundwork for a new dollar-based system built on blockchains. If passed, the dollar could spread further—not just through banks and borders, but through crypto wallets and code.

《天才法》不僅僅是監管。這是建立基於區塊鏈的新型系統的基礎。如果通過的話，美元可能會進一步傳播，而不是通過銀行和邊界，而是通過加密錢包和代碼。

In 1944, the Bretton Woods Agreement placed the dollar at the center of global finance. Today, a new transformation is unfolding—not in closed-door meetings at ski resorts, but in GitHub repositories and smart contracts.

1944年，布雷頓·伍茲（Bretton Woods）協議將美元置於全球金融中心。如今，新的轉型正在發展，而不是在滑雪勝地的閉門會議上，而是在GitHub存儲庫和智能合約中。

With stablecoins, the U.S. is positioning itself to lead a new era of digital finance—where dollar dominance is secured not by legacy alone, but through renewed strategic and forward-looking public policy, paired with bold, private-sector-led innovation in business and technology, driven by market competition.

借助Stablecoins，美國將自己定位以領導數字融資的新時代 - 美元主導地位並不是僅靠遺產來確保，而是通過新的戰略性和前瞻性的公共政策來確保，並與大膽的私營部門領導的商業和技術創新相結合，在市場競爭中驅動。