五大要点！一文读懂美国稳定币法案

Group 1 - The U.S. Senate has advanced the "Stablecoin Unified Standards Guarantee Act" (GENIUS) with a vote of 66 in favor and 32 against, marking significant progress for the legislation [1] - The passage of this act is expected to have a profound impact on the stablecoin market, reinforcing the global dominance of the U.S. dollar while limiting the expansion of large tech companies and foreign issuers, particularly Tether [1][2] - The act mandates that all stablecoins must be backed 1:1 by high-quality, low-risk liquid assets, including U.S. Treasury securities, bank deposits, or physical U.S. dollars [2] Group 2 - The revised act prevents large tech companies like Meta, Apple, and Amazon from issuing stablecoins unless they meet strict financial risk, consumer data privacy, and fair business practice requirements [5] - This amendment reflects concerns among Democratic lawmakers regarding tech giants monopolizing financial infrastructure and blurring the lines between banking and commerce [5] - The act also imposes stricter regulations on foreign stablecoin issuers, particularly Tether, placing them under the same regulatory framework as U.S. domestic stablecoin providers [5][6] Group 3 - The legislation explicitly prohibits stablecoins from paying yields or interest, although the market for yield-bearing stablecoins is still growing [6][7] - As of May 21, yield-bearing stablecoins accounted for 2.8% of the stablecoin market, equivalent to $5.9 billion [7] Group 4 - Despite the progress of the legislation, it faces criticism from Democrats due to potential conflicts of interest involving former President Trump and his financial ties to various cryptocurrency projects [8] - The rapid rise of the USD1 stablecoin, which increased from a market cap of $1.28 million on April 28 to over $2 billion in May, has raised concerns about its potential use as a shadow banking tool for political figures [8]