The stablecoin bill is gaining popularity again. What changes will it bring to the industry if it is passed?

1. The Stablecoin Act, proposed by Representatives Patrick McHenry and Maxine Waters, may be approved in the short term.
2. The main contents of the bill include: the Federal Reserve is responsible for non-bank stablecoin supervision, prohibiting the creation of new stablecoins without legal currency support, allowing the government to develop interoperability standards, and instructing the Federal Reserve to study digital dollars.
3. The approval of the Stablecoin Act will have a significant impact on the blockchain industry, which may lead to the industry splitting into compliant exchanges and gray area exchanges.
4. The bill will require stablecoins to be implemented in accordance with the interoperability standards set by the US government, and overseas companies will also need to register and accept supervision in the United States.
5. The implementation of the bill will subject the entire blockchain industry, from the underlying blocks to trading pairs, to the constraints and long-arm jurisdiction of the United States.