According to Odaily Planet Daily, the latest stablecoin regulation proposal proposed by US Senator Cynthia Lummis has attracted widespread attention. The bill requires stablecoin issuers to comply with a bank-like regulatory system, and companies that issue tokens with more than $10 billion will be required to become regulated deposit institutions. Lummis said that US customers are more inclined to choose stablecoin issuers regulated by the United States, so it will be easier for US company Circle Internet Financial to comply with the new stablecoin regulations than Tether, the global stablecoin leader. Although current stablecoin leaders such as Circle will also face major regulatory obstacles, Lummis expressed his willingness to adjust the bill based on feedback from the industry and government. Although cryptocurrency legislation still faces many challenges in this Congress, some lawmakers have shown optimism and are willing to discuss issues such as stablecoins. The main person in charge of the House Financial Services Committee has met with the Senate Majority Leader to promote cryptocurrency legislation, but it is unclear how the negotiations are going. Industry insiders are closely watching the legislation, but remain cautious about its potential impact and requirements.