Uncle Cat's review of the stablecoin bill is very detailed. At the end of March, he wrote a tweet about the stablecoin wave: https://(x.com)/qinbafrank/status/1905254289809060024? s=46&t=k6rimWsEbo2D2tXolYcM-A， The significance of the US push for the stablecoin bill is that: 1. By seizing the opportunity of stablecoins, one can grasp the pricing power of future on chain assets; 2. The US dollar is in the hands of the Federal Reserve, and the possibility of stablecoins in other financial regulatory departments in the future is equivalent to the executive branch directly under the White House obtaining regulatory authority over future on chain US dollars from the Federal Reserve, an independent monetary policy institution. (This seems a bit difficult now) 3. The greater significance is to intercept emerging populations from non dollar countries (or de dollarized countries) on the chain, expanding the application scenarios of the US dollar on the chain, and creating another form of strong US dollar; 4. The greatest significance is to find new purchasing power for US bonds. The significance of the stablecoin bill for the cryptocurrency market lies in accelerating the integration of on chain and traditional finance. In the future, it is estimated that many financial institutions will issue stablecoins themselves, and naturally they will bring many standardized assets from traditional finance onto the chain, which actually promotes the further prosperity of the on chain ecosystem.