Lawmakers in the US have passed the country's first major national law for cryptocurrency. Known as the "Genius Act," this is a big step for the crypto world, which has been asking for clear rules for years. 美国立法者通过了该国首部关于加密货币的全国性重要法律。这部被称为“天才法案”的法律，对于多年来一直呼吁明确规则的加密货币世界来说，是迈出的一大步。
The new law focuses on "stablecoins," a specific type of cryptocurrency. It sets up rules for how these digital coins should be managed, requiring them to be backed one-for-one by reliable assets, like US dollars. 新法律主要关注一种特定类型的加密货币——“稳定币”。它为这些数字货币的管理方式制定了规则，要求它们必须与像美元这样的可靠资产进行一对一的挂钩支持。
The bill passed in the House and the Senate, and is now expected to be signed into law by the President. 该法案已在众议院和参议院获得通过，现在预计将由总统签署成为法律。
Supporters, including many in the crypto industry and politicians like Donald Trump, say the law provides much-needed clarity. They hope it will: 支持者们，包括许多加密货币行业人士和像唐纳德·特朗普这样的政治家，认为这部法律提供了急需的清晰度。他们希望它能够：
However, critics and consumer advocacy groups are concerned. They argue that the law might make stablecoins seem safer than they really are, without enough protection for users. 然而，批评者和消费者权益保护组织对此表示担忧。他们认为，这部法律可能会让稳定币看起来比实际更安全，却没有为用户提供足够的保护。
Their main fears are that it could let tech firms act like banks without the same strict rules, and if a stablecoin company fails, customers could lose their money. 他们主要担心的是，这可能允许科技公司在没有同样严格规则的情况下像银行一样运作，而且如果一家稳定币公司倒闭，客户可能会损失他们的钱。
A new law is like dropping a pebble into a pond. The "Genius Act" is the pebble, but its effects (the ripples) spread out to touch investors, companies, banks, and maybe even the global economy. Hover over the pebble to see the effect! 一部新法律就像往池塘里投下一颗石子。“天才法案”就是这颗石子，但它的影响（涟漪）会扩散开来，触及投资者、公司、银行，甚至可能影响全球经济。将鼠标悬停在石子上看看效果吧！
Imagine money that only exists on computers. That's cryptocurrency! It's digital or virtual money that uses cryptography (a way of protecting information with codes) for security. Unlike dollars or yuan, it's not controlled by a central bank. Bitcoin is the most famous example. 想象一下只存在于电脑上的钱。那就是加密货币！它是一种使用密码学（一种用代码保护信息的方法）来确保安全的数字或虚拟货币。与美元或人民币不同，它不受中央银行控制。比特币是最著名的例子。
While Bitcoin's value can jump up and down wildly (this is called volatility), stablecoins are designed to keep a steady value. They achieve this by being "pegged" or linked to a stable asset in the real world. 比特币的价值会剧烈波动（这被称为波动性），而稳定币则旨在保持稳定的价值。它们通过与现实世界中的稳定资产“挂钩”或关联来实现这一目标。
Because stablecoins act a bit like a bank account, they need rules to protect people's money. Regulation aims to ensure that the company really has the reserves it claims to have. 因为稳定币的行为有点像银行账户，所以需要规则来保护人们的钱。监管旨在确保公司真正拥有其声称拥有的储备金。
Without rules, a company could fail and users wouldn't be able to exchange their stablecoins back for real money. This is why the new law is so focused on proving the 1-to-1 backing. 如果没有规则，公司可能会倒闭，用户将无法将他们的稳定币换回真钱。这就是为什么新法律如此关注证明1:1支持的原因。
Think of Bitcoin as a stock in a company—its value changes based on demand. Think of a stablecoin as a digital dollar bill—its value is meant to stay the same. Traders often use stablecoins to move money around without being exposed to Bitcoin's volatility. 把比特币想象成一家公司的股票——它的价值根据需求而变化。把稳定币想象成一张数字美元钞票——它的价值旨在保持不变。交易者经常使用稳定币来转移资金，而不会受到比特币波动性的影响。
A stablecoin is like a $10 gift card. You trust that the card is worth $10 because the store holds the promise (and the money) to back it up. Bitcoin is more like a rare Pokémon card—its value is whatever someone else is willing to pay for it today, which could be very different tomorrow. 稳定币就像一张10美元的礼品卡。你相信这张卡价值10美元，因为商店持有支持它的承诺（和资金）。而比特币更像一张稀有的宝可梦卡——它的价值取决于今天别人愿意为它付多少钱，明天可能就完全不同了。