美联储理事宣布了！美联储理事沃勒对外宣布：稳定币不能乱搞，要严格管起来，还得让它能安全方便地用来付款

Core Viewpoint - The recent statements from Federal Reserve Governor Waller indicate a strong push for regulating stablecoins in the U.S., highlighting concerns over their stability and potential risks to the financial system [1][3]. Regulatory Developments - The "Guidance and Establishment of a National Stablecoin Innovation Act" was passed in July and signed by Trump, imposing strict regulations on stablecoin issuers similar to those for banks [3]. - Companies issuing stablecoins must obtain bank-like licenses, maintain reserves in hard assets like USD and short-term government bonds, and disclose reserve details monthly [3]. Market Impact - The collapse of Terra and the recent issues with Silicon Valley Bank, where USDC had $3.3 billion in reserves, demonstrate the vulnerabilities in stablecoin markets, leading to significant price drops and potential "bank runs" [3]. - The U.S. aims to control stablecoins to prevent financial instability and protect consumers, but this may impose high compliance costs on smaller companies and blockchain startups [3][8]. Geopolitical Implications - Waller's comments suggest that stablecoins could reinforce the global dominance of the U.S. dollar, as the U.S. is not interested in a retail digital dollar but rather in maintaining control over digital currency frameworks [4]. - The regulatory approach may lead to a scenario where global stablecoins are tethered to the U.S. dollar, limiting the ability of other countries to establish independent digital currencies [6][8]. Consumer Protection vs. Control - The narrative of consumer protection is questioned, as the stringent regulations may serve to enhance U.S. monetary control rather than genuinely safeguard consumers [6][8]. - The requirement for monthly reserve disclosures and compliance audits raises concerns about the feasibility for smaller firms, potentially stifling competition in the stablecoin market [8].