经过多年的挫败尝试正式进行绿灯加密货币交易，美国参议院的一个主要小组正在迅速采取行动，以使这些计划得以实现

参议院银行委员会的两党批准本月《天才法》（S. 919），该委员会将制定基于美元的Stablecoin发行人和交易的标准

After years of thwarted attempts to officially green-light cryptocurrency trading, a key US Senate panel is moving quickly to open that door with bipartisan approval of landmark stablecoin legislation and likely advancing President Donald Trump’s pick for a pro-crypto Wall Street regulator.

经过多年的挫败尝试正式进行绿灯加密货币交易，美国参议院的一个主要小组正在迅速采取行动，通过两党批准了具有里程碑意义的Stablecoin立法，并有可能推动唐纳德·特朗普总统对亲克赖特托·华尔街监管机构的选择。

The Senate Banking Committee’s bipartisan approval this month of the GENIUS Act (S. 919), which would set standards for regulating dollar-based stablecoin issuers and transactions, puts the the bill on the fast track for a vote by the full chamber over objections from ranking member Sen. Elizabeth Warren (D-Mass.).

参议院银行委员会在本月《天才法案》（S. 919）的两党批准（该法案）将制定标准，以规范基于美元的Stablecoin发行人和交易，这使该法案在全面投票的票据中，对伊丽莎白·沃伦（Elizabeth Warren）等级成员参议员（D-Mass）进行了反对。

The prospect of the bill becoming law and Paul Atkins securing the helm of the Securities and Exchange Commission signals a crypto-friendly approach all across Washington, in stark contrast to the Biden era. It’s a marked turnaround for an industry that’s learning to flex its political muscle.

法案成为法律的前景和保罗·阿特金斯（Paul Atkins）确保了证券交易委员会的掌舵，这在华盛顿各地都对加密友好的方法表示，与拜登时代形成鲜明对比。对于一个学习锻炼政治肌肉的行业来说，这是一个明显的周转。

The Senate Banking panel approved the stablecoin bill by an 18-6 vote on March 13 with backing from five Democrats, despite critiques that it would enable tech billionaires to take advantage of costly government bailouts and consolidate power for their companies by launching dollar-based tokens.

参议院银行小组在3月13日以18票对6票批准了五名民主党人的支持，尽管批评将使科技亿万富翁能够利用昂贵的政府救助，并通过推出以美元为代价来利用其公司的权力。

“It’s a very lax, lenient act that opens the door very wide with relatively few guardrails and safeguards,” said Arthur Wilmarth, a professor emeritus at George Washington University Law School who studies financial regulation and crises. “It allows essentially almost any type of entity to get into the stablecoin business.”

乔治·华盛顿大学法学院名誉教授亚瑟·威尔马尔（Arthur Wilmarth）说：“这是一种非常宽松的宽大行为，以相对较少的护栏和保障措施打开了大门。” “它基本上允许几乎任何类型的实体进入Stablecoin业务。”

The act also carves out stablecoins beyond the SEC’s purview, explicitly stating they aren’t securities and that nonbank issuers will be overseen by the Office of the Comptroller of the Currency, which typically focuses on bank regulation and supervision.

该法案还雕刻了SEC权限之外的Stablecoins，明确指出他们不是证券，而非银行发行人将由货币审计长办公室监督，该货币通常着重于银行监管和监督。

Both regulators have been targeted for staffing cuts, with some 500 employees accepting buyouts for early retirement or resignation at the SEC, while 140 OCC workers accepted buyouts after the agency terminated 76 probationary employees last month.

这两个监管机构均已针对裁员，约有500名员工接受收购以提前退休或在SEC辞职，而上个月机构终止了76名试用雇员后，有140名OCP工人接受了收购。

“The whole background of our nation’s financial history is that we should keep banking and commerce separate,” Wilmarth said. “If you put these giant commercial institutions together with major financial institutions, problems in one area are going to spill over to the other, inevitably.”

威尔马斯说：“我们国家财务历史的全部背景是，我们应该将银行和商业分开。” “如果您将这些巨大的商业机构与主要的金融机构放在一起，那么一个地区的问题将不可避免地溢出到另一个地区。”

Stablecoin ‘Diving Board’

Stablecoin'Swiving Board'

Digital-asset industry players spent years attempting to reconcile different state and federal guidelines around stablecoins, said Nassim Eddequiouaq, a co-founder and CEO of stablecoin issuance platform Bastion.

Stablecoin发行平台Bastion的联合创始人兼首席执行官Nassim Eddequiouaq表示，数字资产行业的参与者花了多年的时间试图调和围绕Stablecoins的不同州和联邦准则。

“The amount of interest that we’ve seen due to the GENIUS Act has been greater in the last two months than in the two years before that.”

“在过去的两个月中，由于天才行为所看到的兴趣数量要比之前的两个月更大。”

Using blockchain technology to maintain the priority of the US dollar internationally has bipartisan appeal, said Jenny Cieplak, a partner at Latham & Watkins LLP who advises clients on crypto-related regulatory issues.

Latham＆Watkins LLP的合伙人Jenny Cieplak说，使用区块链技术在国际上保持两党的吸引力。

“More product evolution is going to make these products more widely adopted,” she said. “Payment services providers are going to find it useful for transfer of funds outside the US, between various jurisdictions, but I don’t think that the real killer app for the regular US market user is there yet.”

她说：“更多的产品发展将使这些产品更广泛地采用。” “支付服务提供商将发现在各个司法管辖区之间在美国以外的资金转移非常有用，但是我认为美国常规市场用户的真正杀手应用程序还没有。”

The SEC’s former regulatory approach to crypto was far less permissive, exemplified by its enforcement action against Terraform Labs over alleged fraud involving its TerraUSD stablecoin, leading to a $4.47 billion settlement last year.

SEC对加密货币的前监管方法的允许范围要少得多，这是针对Terraform Labs的执法行动，因为涉嫌涉及Terrausd Stablecoin的欺诈行动，去年导致了44.7亿美元的和解。

Under then-Chair Gary Gensler, the agency also pursued an investigation into a Binance-branded stablecoin, which it ended without an enforcement action against issuer Paxos Trust Co.

在当时的主席Gary Gensler的领导下，该机构还对Binance品牌的Stablecoin进行了调查，该调查在没有针对发行人Paxos Trust Co.的执法行动的情况下结束了。

The Senate bill and the parallel STABLE Act discussion draft in the House have raised alarms among policy makers—including Warren, House Financial Services Committee ranking member Rep. Maxine Waters (D-Calif., and some Federal Reserve Board members—about a potential bailout in the event of a bank run or collapse.

参议院法案和众议院的平行稳定法案讨论草案在政策制定者中引起了警报，包括沃伦（Warren），众议院金融服务委员会排名成员众议员Maxine Waters（D-Calif。和一些联邦储备委员会成员）在银行逃亡或倒闭时可能会救助。

“Everybody and his brother who can now get one of these stablecoin issuers, now they all become candidates for bailouts,” Wilmarth said. “I hope that before this gets to the floor of the Senate that people will reconsider how high that diving board is before jumping off, and exactly how much water is in the pool down below.”

威尔马斯说：“每个人和他的兄弟现在都可以得到这些Stablecoin发行人之一，现在他们都成为救助者的候选人。” “我希望在此之前，人们将重新考虑跳水前的潜水板有多高，而距离池中有多少水。”

Atkins Returns

阿特金斯返回

The Senate Banking Committee has another chance to fling the door open for crypto industry expansion, with Paul Atkins’ confirmation hearing scheduled for Thursday.

参议院银行委员会还有另一个机会揭开了加密货币行业扩张的开放，保罗·阿特金斯（Paul Atkins）的确认听证会定于周四举行。

The SEC under acting Chair Mark Uyeda has drastically pared back crypto scrutiny by dropping the bulk of litigation against digital asset exchanges, refashioning its crypto enforcement team into a smaller cyber unit, and forming a task force to tackle possible crypto rulemaking.

代理椅子下的SEC Mark Uyeda在对数字资产交易所进行大部分诉讼，将其加密执法团队重新塑造成一个较小的网络单位，并组建一个工作组来解决可能的加密统治，从而使Crypto的审查大大减少了审查。

With Paul on deck, the SEC is set to be led by a one-time commissioner who became a vocal crypto proponent and adviser to industry players.

在Paul上，SEC将由一名曾经成为人声加密的拥护者和行业参与者的顾问领导。

Atkins resigned in December from a role as co-chair of the Token Alliance, a crypto advocacy group affiliated with the Digital Chamber, and he’s worked for clients including crypto brokerage FalconX, according to ethics disclosures released

根据Digital Chamber隶属的加密宣传集团，Atkins于12月辞去了担任令牌联盟联合主席的职务，他曾为包括Crypto Brokerage Falconx在内的客户工作。