It has just been preliminarily approved, and generally speaking, it is only a matter of time before it is fully approved and implemented. At present, the high level of Da Bing 106 can be considered a response to the expectations of the bill, and it is even possible to take the opportunity to continue attacking 11W. This bill is more favorable for compliant stablecoins such as USDC, but may be bearish for non compliant USDT, and prohibits algorithmic stablecoins. This bill is a long-term positive for the cryptocurrency industry as a whole, and may also be an attempt by the United States to solve the US dollar crisis and US debt crisis. Equivalent to expanding the usage scenarios of the US dollar and increasing its market share. It may promote the prosperity of the on chain economy and alleviate the financing pressure on the US government (of course, it is also more convenient to pump water from the cryptocurrency circle). The counterexample is to kick Russia out of the Swift system. A currency must have enough people to use it and be able to buy enough goods to be valuable.