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第277章 穩定幣

  • 小橘子的英語筆記
  • 寶可夢小公子
  • 2068字
  • 2025-06-26 12:30:07

A Senate Stablecoin Breakthrough

參議院在推動穩定幣上邁出突破性一步

By The Editorial Board

What do you know? Congress is stepping up to do at least one job. The Senate this week passed a bill, 68-30, to establish a regulatory framework for crypto stablecoins. With one big caveat, this is a good development.

你猜怎么著?國會總算開始認真履行職責了。本周,參議院以68票對30票通過了一項法案,擬建立一套加密穩定幣的監管框架。這無疑是一項積極進展——盡管還存在一個不小的隱患。

Stablecoins are a form of digital currency pegged to another fiat currency or asset like gold and are designed to hold a constant value. If you buy $1 of a stablecoin, you are supposed to be able to redeem it for $1 in hard currency. They are also supposed to be backed by safe and liquid assets like Treasurys and bank deposits similar to government money-market funds.

穩定幣是一種與法定貨幣或黃金等資產掛鉤的數字貨幣,旨在維持其價值的穩定。換句話說,如果你花1美元購買一枚穩定幣,理論上你應當可以用它兌換回1美元的穩健貨幣。這類幣種還應當由安全且高流動性的資產作為支撐,比如美國國債或銀行存款,其結構類似于政府貨幣市場基金。

Stablecoins reduce friction in payments and money transfers since settlements can clear within seconds versus hours or sometimes days with the traditional banking system. This can reduce risk from exchange-rate volatility for foreign counterparties. They also have lower transaction fees than credit cards, wire transfers and other payment networks.

與傳統銀行體系相比,穩定幣能降低支付和轉賬中的障礙,因為它們的結算通常在幾秒鐘內完成,而傳統方式可能需要數小時甚至數天。這種效率提升,也有助于減少與外方交易中的匯率波動風險。并且,穩定幣的交易費用通常也低于信用卡、電匯或其他支付網絡。

There's the biggest concern. The Senate legislation says stablecoins “shall not be backed by the full faith and credit of the United States“ or subject to deposit insurance. But the FDIC insures bank deposits, and putting it in charge of regulating stablecoins may create the impression of an implicit government backstop.

最大的隱患來了。法案中明確規定,穩定幣“不得獲得美國政府的信用擔保”,也不享有存款保險。然而,聯邦存款保險公司(FDIC)通常負責銀行存款保險,現在若由其監管穩定幣,可能會令公眾誤以為政府會在穩定幣出問題時出面兜底。

Broader adoption of stablecoins will create new financial risks that will have to be closely monitored, but the legislation at least establishes safeguards to protect users. It also subjects issuers to anti-money laundering laws, which could help law enforcement crack down on cartels that move money with stablecoins.

雖然穩定幣在更大范圍內被采用將帶來新的金融風險,這些風險也必須得到嚴格監控,不過,這項立法至少確立了一些用戶保護機制。它要求發行方遵守反洗錢法律,有望幫助執法部門打擊利用穩定幣轉移資金的犯罪集團。

【內容拓展】

1. GENIUS法案,全稱Guiding and Establishing National Innovation for U.S. Stablecoins Act,引導與建立美國穩定幣的國家級創新的法案。

2.穩定幣作為一種基于區塊鏈技術的支付手段,其誕生源于加密貨幣領域內日益增長的交易需求。通過將加密貨幣與現實世界中的法定貨幣(如美元)綁定,可以使穩定幣價值不像比特幣一樣,受到投機炒作的影響而劇烈起伏。目前,全球市值最大的兩種穩定幣為泰達幣(USDT)與美元幣(USDC),二者合計市值約占總市值的九成。

生詞好句

1.senate

英[?sen?t]美[?sen?t]

n.參議院

拓展:

congress n.國會

House of Representatives眾議院

2.breakthrough

英[?bre?kθru?]美[?bre?kθru?]

n.突破性進展

3.What do you know?

(美式口語)哎你看看!您瞧瞧您瞧瞧!

拓展:

同義表達:How about that!

What do you know? The DB train actually came on time today!

你看看,今天德鐵居然準點了!

4.step up to do…

主動承擔責任去做某事

拓展:

step up to help伸出援手,雪中送炭

step up to lead勇擔領袖職責

step up to the challenge直面挑戰,迎難而上

5.pass a bill

通過一項法案

拓展:

reject a bill / vote down a bill否決法案

sign a bill / sign a bill into law簽署法案

6.regulatory

英[?reɡj??le?tri]美[?reɡj?l?t??ri]

adj.管理的;控制的;調整的

7.caveat

英[?k?vi?t]美[?k?vi?t]

n.絕對不能忽視的隱患,重大提醒

拓展:

This medicine is effective, with one important caveat: it will not be taken on an empty stomach.

這種藥確實有效,不過有一個重大提醒:一定不能空腹服用。

8.peg to

錨定

拓展:

anchor n.船錨

career anchor職業生涯里最看重的東西

peg n.小木樁

The Hong Kong dollar has been pegged to the US dollar since 1983.

港幣自1983年以來就一直錨定美元。

9.fiat currency

法定貨幣(一國的主權貨幣)

拓展:

fiat(拉丁語)法令

10.constant

英[?k?nst?nt]美[?kɑ?nst?nt]

adj.不變的(unchanged)

11.be supposed to

按常理,應該……

12.government money-market funds

政府貨幣市場基金

拓展:

T-bills美國短期國債

13.friction

英[?fr?k?n]美[?fr?k?n]

n.(本文)障礙;摩擦

14.settlement

英[?setlm?nt]美[?setlm?nt]

n.(本文)結算;雙方和解;定居

拓展:

With a large settlement from the property sale, she finally achieved her dream of settlement up north.

她通過出售房產獲得了大筆結算款,終于實現了在北方安家的夢想。

15.versus

英[?v??s?s]美[?v?r?s?s]

prep.與……相比(縮寫:vs)

16.volatility

英[?v?l??t?l?ti]美[?vɑ?l??t?l?ti]

n.劇烈變動(程度高于fluctuation)

拓展:

volatile adj.波動的

17.counterparty

英[?ka?nt?pɑ?ti]美[?ka?nt?rpɑ?rti]

n.對手方(counterpart)

18.shall

英[??l??l]美[??l??l]

modal v.某事肯定、必須發生(something shall happen)

19.full faith and credit

全額信譽和承諾

拓展:

The bonds are backed by the full faith and credit of the state.

這些債券由該州的完全信譽作擔保。

20.be subject to

取決于……

拓展:

subject adj.取決于......的/?s?bd?ekt/

Admission is subject to academic performance.

錄取情況視學業表現而定。

21.FDIC

聯邦存款保險公司

22.implicit

英[?m?pl?s?t]美[?m?pl?s?t]

adj.含蓄的

23.backstop

英[?b?kst?p]美[?b?kstɑ?p]

n.最后防線

拓展:

同義表達:last resort

This company operates with an implicit government backstop, so creditors expect a bailout.

這家公司實際上有政府隱性兜底,因此債權人預期政府會出手相助。

bailout n.救助

24.subject something to…

把一個事物納入某種約束之中

拓展:

subject v.使臣服/s?b?d?ekt/

The new rule subjects all universities to stricter financial reporting.

新規讓所有大學都必須受更嚴格的財報約束。

25.crack down on

打擊

拓展:

The authorities launched a campaign to crack down on the over-financialisation of supply chains.

有關部門發起專項整治,嚴打供應鏈過度金融化。

26.cartel

英[kɑ??tel]美[kɑ?r?tel]

n.(本文)犯罪團伙;聯合定價壟斷市場的企業集團

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