The United States House of Representatives has recently approved the "Stablecoin Act," heralding significant reforms in the regulation of cryptocurrencies. The Act mandates that stablecoin issuers maintain dollar asset reserves on a one-to-one basis, prohibits technology giants from issuing stablecoins, and introduces licensing requirements at either the federal or state level. This development marks the dawn of a new era in the cryptocurrency market, characterized by stricter regulations and intensified competition, with profound implications for the global digital asset landscape and financial markets. With stablecoins currently exceeding $250 billion in size and projected to potentially reach $2 trillion, this move not only reinforces the position of the U.S. dollar but also undermines the credibility of some countries' sovereign currencies. Furthermore, the U.S. Congress has also passed the "Clarity Act," which categorizes digital assets as securities or commodities for regulatory clarity, thus delineating regulatory responsibilities more precisely.