使用Stablecoins，美国现在似乎准备好领导一个新的数字金融时代，在那里美元...保留了更多的统治地位。

特朗普政府正在将稳定的人变成美国战略的中心支柱，以巩固美元的统治地位并帮助为联邦政府提供资金。

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.

特朗普政府正在为美国领导的数字融资时代奠定基础，以巩固美元的统治地位并帮助为联邦政府提供资金。

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.

正如美联储州长克里斯托弗·沃勒（Christopher Waller）在2月的演讲中解释的那样，Stablecoins允许世界各地的人们在公共区块链上持有和使用美元 - 不需要银行帐户。这种单个转变为更大的事情打开了大门：进入庞大的全球存款市场。

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.

据Mckinsey＆Company称，全球金融体系持有117万亿美元的银行存款，包括65万亿美元的个人存款。稳定币（尤其是由我们许可的和美元计价的人），从自下而上的方式中投入到这个市场，绕过传统银行并重塑美元在全球范围内如何流通。

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.

本周，参议院银行委员会通过了《天才法》（Genius Act），这是通过18-6的投票，该法案是指导和建立国家创新的国家创新。

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.

该法案由参议员比尔·哈格蒂（Bill Hagerty）赞助，后来得到特朗普总统的认可，为美元支持的稳定币制定了明确的规定，并要求发行人在易于转换的资产中保持至少1：1的储备，例如美元兑换的货币和现金，在美联储的银行储备金，兑换货币筹集的企业，筹集了货币，并依据的货币，并进行了货币，并进行了批评，并进行了收购。

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

该法案还规定，发行人遵循反洗钱，制裁和网络安全法规。

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.

两党的投票是在几个月的辩论之后进行的，该辩论是关于规范稳定剂并保护金融体系免受这些新技术带来的任何风险的最佳方法的辩论。

“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说：“强大的Stablecoin创新的好处是巨大的，从提高交易效率到推动美国国债的需求。” “我们可以实现这些好处，同时还可以维护宏观经济稳定性以及我们通过常识政策的金融体系的完整性。”

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

众议院金融服务委员会预计将在下个月对类似法案进行投票。

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.

同时，私营部门的努力也在增强势头。由特朗普总统支持的加密平台世界自由金融（WLFI）本周宣布，它已通过代币销售筹集了5.5亿美元，并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.

加密货币和稳定币越来越多地用于绕过我们的制裁和传统的支付系统。但是现在，华盛顿似乎已经准备好翻转脚本 - 通过让全球用户持有并花费美元支持的，由美国控制的稳定股，而无需依赖银行。这是出口美国货币力量的直接渠道，没有中介。

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.

华盛顿的加密和稳定剂的新方法？不能击败他们吗？调节它们，并将其变成美元的支配工具和地缘政治杠杆作用。

A New Bretton Woods—Onchain

新的布雷顿树林 - 链

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》不仅仅是监管。这是建立基于区块链的新型系统的基础。如果通过的话，美元可能会进一步传播，而不是通过银行和边界，而是通过加密钱包和代码。

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，布雷顿·伍兹（Bretton Woods）协议将美元置于全球金融中心。如今，新的转型正在发展，而不是在滑雪胜地的闭门会议上，而是在GitHub存储库和智能合约中。

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，美国将自己定位以领导数字融资的新时代 - 美元主导地位并不是仅靠遗产来确保，而是通过新的战略性和前瞻性的公共政策来确保，并与大胆的私营部门领导的商业和技术创新相结合，在市场竞争中驱动。