The US Senate takes a big shot! The cryptocurrency market is volatile, and the US dollar hegemony wants to 'reshape and upgrade'? Recently, the US Senate passed an important bill with 66 votes to 32, pushing the National Innovation Act to Guide and Establish a Stable Dollar Coin to a critical legislative stage. This move has caused a strong shock in the cryptocurrency and financial circles! 1. New regulations strictly regulate stablecoins The Trump administration has launched a "regulatory tightening spell" model. Stablecoins such as USDT and USDC must be reserved with sufficient cash or short-term US bonds, and their financial status must be publicly disclosed on a monthly basis, subject to strict supervision by banks. Stable coin projects with a market value exceeding 10 billion are under special surveillance. 2. The attempt to extend the life of US bonds The size of US Treasury bonds has reached $36 trillion, with a large amount due between 2025 and 2026. Stablecoins companies or "buyers" of Chengmei bonds, such as Tether holding $120 billion in bonds. If the bill is passed, more stablecoin companies will purchase US bonds, injecting vitality into the US bond market. 3. Upgrading the hegemony of the US dollar The bill suppresses non US dollar stablecoins and forces global settlement in the US dollar system, aiming to push the US dollar hegemony towards "blockchain version 3.0" and vigorously promote USD1, demonstrating the ambition of the United States to consolidate its dominant position in the US dollar. 4. Potential risks are numerous The size of stablecoins (232 billion US dollars) is insignificant compared to the size of US bonds, making it difficult to fill the hole in US bonds. And there is a risk of bank runs. If users run on USDT or the US Treasury collapses, it will trigger a chain crisis in the market, with destructive power comparable to the collapse of Luna coin. Overall, this bill is a bold gamble on the dominance of the US dollar in the blockchain era, with uncertain success or failure, and its future development deserves close attention. BTC