The draft of the Stable Act, initiated by the US House of Representatives, was released today. Here are the key points to translate: one ⃣ Banks, credit cooperatives, and approved non bank institutions may issue stablecoins; two ⃣ Must have a 1:1 cash reserve, US Treasury bonds (less than 93 days old), or other highly liquid and safe assets; three ⃣ It may be necessary to follow stablecoin interoperability standards; four ⃣ Each state can introduce its own stablecoin system - but they must meet/exceed federal standards; five ⃣ A grace period of 2 years for registration. In addition to the STANBLE Act, the US Senate has initiated another stablecoin bill, the GENIUS Act. The difference between the two is shown in the following figure: In summary, the original intention of the STANLE Act was to protect consumers and maintain the dominant position of the US dollar, while the original intention of the GENIUS Act was to improve transaction efficiency and increase demand for US bonds. above.