[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"article-us-bank-stablecoin-fight-could-aid-china-zh":3,"article-related-us-bank-stablecoin-fight-could-aid-china-zh":28,"series-blockchain-950fb83b-1c31-46b0-afcc-dde57e8663ff":82},{"id":4,"slug":5,"title":6,"content":7,"summary":8,"source":9,"source_url":10,"author":11,"image_url":12,"cover_image":12,"category":13,"language":14,"translated_content":11,"related_article_id":15,"keywords":16,"key_takeaways":11,"views":25,"created_at":26,"published_at":27,"topic_cluster_id":11},"950fb83b-1c31-46b0-afcc-dde57e8663ff","us-bank-stablecoin-fight-could-aid-china-zh","美國穩定幣之爭，可能讓中國受益","\u003Cp>現在全球穩定幣流通量，已經超過 1500 億美元。這不是小圈圈在玩幣而已。它牽動的是美元怎麼上鏈，還有誰能定義數位現金。\u003C\u002Fp>\u003Cp>美國華府最近吵的，其實只有一個規則。穩定幣能不能發利息，或給類似收益的回饋。講白了，這是銀行存款、\u003Ca href=\"\u002Fnews\u002Fsec-cftc-crypto-asset-classification-guidance-zh\">加密\u003C\u002Fa>支付、和金融主導權的三方拉扯。\u003C\u002Fp>\u003Cp>如果銀行最後贏了，穩定幣可能會變成不好用的支付工具。那樣一來，美國可能保住部分銀行利差，卻也讓其他國家有更多空間訂規則。\u003C\u002Fp>\u003Ch2>穩定幣到底在吵什麼\u003C\u002Fh2>\u003Cp>穩定幣是跟美元或其他法幣掛鉤的 Tok\u003Ca href=\"\u002Fnews\u002Fai-agent-workflows-context-actions-verification-zh\">en\u003C\u002Fa>。常見的發行商有 \u003Ca href=\"https:\u002F\u002Fwww.circle.com\" target=\"_blank\" rel=\"noopener\">Circle\u003C\u002Fa> 和 \u003Ca href=\"https:\u002F\u002Ftether.io\" target=\"_blank\" rel=\"noopener\">Tether\u003C\u002Fa>。它們背後通常放現金、短天期美債，或其他高流動資產。\u003C\u002Fp>\n\u003Cfigure class=\"my-6\">\u003Cimg src=\"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1775116341871-iw88.png\" alt=\"美國穩定幣之爭，可能讓中國受益\" class=\"rounded-xl w-full\" loading=\"lazy\" \u002F>\u003C\u002Ffigure>\n\u003Cp>這種設計很土，但很實用。\u003Ca href=\"\u002Fnews\u002Ftrust-wallet-agent-kit-ai-trade-25-chains-zh\">交易\u003C\u002Fa>者拿它當中繼站，支付公司拿它試做跨境轉帳，DeFi 專案則拿它當基礎流動性。說真的，這東西蠻猛的地方，就是速度快又便宜。\u003C\u002Fp>\u003Cp>爭議點在於，穩定幣發行商、交易所、和合作 App，能不能對餘額發利息或獎勵。銀行當然反對。因為一旦穩定幣像現金管理帳戶，銀行的存款就會被分走。\u003C\u002Fp>\u003Cp>這裡的差別很現實。傳統轉帳常常慢，還要吃手續費。穩定幣幾分鐘就能結算，跨境也不用靠卡組織。你可能會想問，既然這麼方便，為什麼還要卡它？答案就是既有金融利益。\u003C\u002Fp>\u003Cul>\u003Cli>\u003Ca href=\"https:\u002F\u002Fwww.circle.com\u002Fusdc\" target=\"_blank\" rel=\"noopener\">USDC\u003C\u002Fa> 是最常見的合規美元穩定幣之一。\u003C\u002Fli>\u003Cli>\u003Ca href=\"https:\u002F\u002Ftether.io\u002Fusdt\" target=\"_blank\" rel=\"noopener\">USDT\u003C\u002Fa> 在交易對裡仍是最大宗。\u003C\u002Fli>\u003Cli>\u003Ca href=\"https:\u002F\u002Fusa.visa.com\u002Fsolutions\u002Fcrypto.html\" target=\"_blank\" rel=\"noopener\">Visa\u003C\u002Fa> 已測試過穩定幣結算。\u003C\u002Fli>\u003Cli>\u003Ca href=\"https:\u002F\u002Fwww.paypal.com\u002Fpyusd\" target=\"_blank\" rel=\"noopener\">PYUSD\u003C\u002Fa> 也想把數位美元帶進一般支付。\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>銀行為什麼這麼怕\u003C\u002Fh2>\u003Cp>銀行不是怕穩定幣這個名詞。它們怕的是存款外流。只要用戶能把現金轉進會生息的 Token，銀行就少了一筆便宜資金來源。利率高的時候，這件事會更痛。\u003C\u002Fp>\u003Cp>所以銀行團體一直想切開兩件事。銀行存款是存款，穩定幣就是穩定幣。不要讓它們長得太像。銀行的說法很直接：如果數位美元也能拿收益，那它就很像銀行帳戶，只是監管沒那麼重。\u003C\u002Fp>\u003Cp>但反方也講得很直白。若美國把穩定幣規則寫得太死，結果可能不是大家回去用銀行，而是更多人轉去海外平台。這會讓美國自己慢下來，別人反而有機會補位。\u003C\u002Fp>\u003Cblockquote>“The internet is becoming the town square for the global village of tomorrow.” — Vint Cerf\u003C\u002Fblockquote>\u003Cp>這句話是 Vint Cerf 1999 年講的。放到今天也很準。支付系統就是網路的地基。誰定義數位美元，誰就影響錢怎麼流。\u003C\u002Fp>\u003Cp>我覺得這場仗的本質，不是要不要銀行。是美國要不要把數位現金做成基礎建設。還是繼續把它當成金融邊角料。\u003C\u002Fp>\u003Ch2>中國在看什麼\u003C\u002Fh2>\u003Cp>中國早就知道，支付系統是國力的一部分。它推過 \u003Ca href=\"https:\u002F\u002Fwww.pbc.gov.cn\u002Fen\u002F3688006\u002Findex.html\" target=\"_blank\" rel=\"noopener\">e-CNY\u003C\u002Fa>，也在做跨境支付測試。雖然人民幣數位貨幣還不是全球儲備資產，但北京很清楚，控制支付路徑就是控制部分金融話語權。\u003C\u002Fp>\n\u003Cfigure class=\"my-6\">\u003Cimg src=\"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1775116364742-osb2.png\" alt=\"美國穩定幣之爭，可能讓中國受益\" class=\"rounded-xl w-full\" loading=\"lazy\" \u002F>\u003C\u002Ffigure>\n\u003Cp>如果美國把穩定幣做得太保守，影響不會只在幣圈。更多 fintech 會找繞路方案，海外平台會繼續吸走流動性，其他國家的支付系統也會拿這件事當案例。簡單說，就是美國自己先縮手，別人就更好補上。\u003C\u002Fp>\u003Cp>這裡最容易被忽略的一點，是美元優勢不只靠國債和銀行。它也靠基礎設施。當美元能在鏈上快速流動，美元就不只是帳面貨幣，而是可編程的支付工具。\u003C\u002Fp>\u003Cul>\u003Cli>中國的 e-CNY 已在多個城市做零售試點。\u003C\u002Fli>\u003Cli>\u003Ca href=\"https:\u002F\u002Fwww.bis.org\u002Fabout\u002Fbisih\u002Ftopics\u002Fcbdc\u002Fmbridge.htm\" target=\"_blank\" rel=\"noopener\">BIS mBridge\u003C\u002Fa> 在做跨境 CBDC 實驗。\u003C\u002Fli>\u003Cli>穩定幣多半幾分鐘內結算，跨境電匯常常更慢。\u003C\u002Fli>\u003Cli>美元穩定幣仍主導加密流動性，美國其實有機會寫規則。\u003C\u002Fli>\u003C\u002Ful>\u003Ch2>把兩邊放一起看\u003C\u002Fh2>\u003Cp>銀行要的是存款安全。它們希望規則把收益留在銀行體系內。Crypto 公司要的是可編程現金。它們想讓穩定幣像 API 一樣可被組裝、拆解、再接到各種 App。\u003C\u002Fp>\u003Cp>如果國會站在銀行那邊，結果大概會是這樣。銀行保住低成本存款。穩定幣還能做交易，但不太適合日常持有。fintech App 少了一個拉用戶的功能。\u003C\u002Fp>\u003Cp>如果國會站在 crypto 那邊，銀行一定會罵。因為存款壓力會上來。但用戶會得到更清楚的選擇。至少他們知道，數位美元可以比傳統帳戶更好用。\u003C\u002Fp>\u003Cp>下面這組比較，最能看出差別：\u003C\u002Fp>\u003Cul>\u003Cli>銀行派：存款留在銀行，成本較穩。\u003C\u002Fli>\u003Cli>銀行派：穩定幣偏向交易用途。\u003C\u002Fli>\u003Cli>Crypto 派：用戶能把數位美元當現金管理工具。\u003C\u002Fli>\u003Cli>Crypto 派：海外產品會更難搶走美元流動性。\u003C\u002Fli>\u003C\u002Ful>\u003Cp>我比較支持中間路線。可以給類似收益，但要有清楚準備金規則。也要切開受保險存款和 Token 餘額。這樣銀行不會整個被掏空，穩定幣也不會變成廢物。\u003C\u002Fp>\u003Ch2>這場爭論其實很老派\u003C\u002Fh2>\u003Cp>很多人以為這是幣圈在吵小事。其實不是。這跟當年貨幣市場基金、電子支付、甚至信用卡回饋都很像。每次新工具出現，舊金融體系都會先喊風險。\u003C\u002Fp>\u003Cp>但這次多了一層地緣政治。美元如果不能順利上鏈，別人就會更積極做自己的數位支付路徑。這不是陰謀論，是很基本的市場空間問題。\u003C\u002Fp>\u003Cp>所以我會說，這場規則戰的重點，不是穩定幣會不會幹掉銀行。重點是美國要不要自己定義下一代數位美元。還是把空間留給海外平台和其他國家。\u003C\u002Fp>\u003Ch2>接下來要看什麼\u003C\u002Fh2>\u003Cp>接下來最該盯的，是國會最後怎麼寫。是直接禁掉收益，還是留一個中間版本。前者會讓穩定幣更像交易工具。後者才有機會讓它變成真正的支付基礎設施。\u003C\u002Fp>\u003Cp>我的判斷很簡單。只要規則太保守，創新就會往外跑。不是每個人都會回銀行。很多人只會去找更順手的產品。這件事如果寫歪了，美國自己會少掉一塊數位金融主導權。\u003C\u002Fp>\u003Cp>你如果是開發者，我會建議先看兩件事。第一，穩定幣 API 的合規要求。第二，跨境結算的成本差。這兩個數字，會比口號更誠實。\u003C\u002Fp>","美國銀行業想擋穩定幣利息，表面是保護存款，實際可能拖慢美元上鏈。若規則寫得太保守，中國與其他海外支付系統就有更多空間。","www.washingtonpost.com","https:\u002F\u002Fwww.washingtonpost.com\u002Fopinions\u002F2026\u002F03\u002F27\u002Fcryptocurrency-stablecoin-banks-congress-china\u002F",null,"https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1775116341871-iw88.png","blockchain","zh","a58df6b5-cca0-4ebb-8cdf-cf02c1ceff77",[17,18,19,20,21,22,23,24],"穩定幣","美國銀行","中國","數位美元","USDC","USDT","e-CNY","加密支付",6,"2026-04-02T07:06:30.525801+00:00","2026-04-02T07:06:30.504+00:00",{"tags":29,"relatedLang":41,"relatedPosts":45},[30,32,33,34,36,37,38,40],{"name":21,"slug":31},"usdc",{"name":24,"slug":24},{"name":19,"slug":19},{"name":23,"slug":35},"e-cny",{"name":18,"slug":18},{"name":17,"slug":17},{"name":22,"slug":39},"usdt",{"name":20,"slug":20},{"id":15,"slug":42,"title":43,"language":44},"us-bank-stablecoin-fight-could-aid-china-en","U.S. bank stablecoin fight could aid China","en",[46,52,58,64,70,76],{"id":47,"slug":48,"title":49,"cover_image":50,"image_url":50,"created_at":51,"category":13},"9ffdd70b-5845-464f-b00f-607cd2da1517","5-defi-ideas-vitalik-buterin-says-could-cut-crashes-zh","5 個 Vitalik 的 DeFi 降崩盤構想","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780629473182-l4gq.png","2026-06-05T03:17:24.119097+00:00",{"id":53,"slug":54,"title":55,"cover_image":56,"image_url":56,"created_at":57,"category":13},"5543d527-d87e-405a-b19c-c5a9a8d5c524","why-kucoin-polymarket-wallet-strategy-zh","為什麼 KuCoin 把 Polymarket 放進錢包是對的","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780615067528-yd0y.png","2026-06-04T23:17:23.026354+00:00",{"id":59,"slug":60,"title":61,"cover_image":62,"image_url":62,"created_at":63,"category":13},"f4732cb4-16a9-4df9-987c-7fa861c6151c","how-to-understand-web3-wallets-and-dapps-zh","如何理解 Web3 錢包與 dApp","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780614168163-wmdd.png","2026-06-04T23:02:25.307614+00:00",{"id":65,"slug":66,"title":67,"cover_image":68,"image_url":68,"created_at":69,"category":13},"083676ec-2186-4b04-bd06-843cc4c4aa5f","wei-shen-me-web3-fan-i-gaming-bi-qi-ti-yu-ge-ming-geng-xiang-zh","為什麼 Web3 粉絲 iGaming 比起體育革命更像炒作","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780613268816-de2c.png","2026-06-04T22:47:19.938477+00:00",{"id":71,"slug":72,"title":73,"cover_image":74,"image_url":74,"created_at":75,"category":13},"77380c1e-dad0-4beb-aeb4-9eff31b01256","btc-etf-outflows-turn-79k-into-line-to-watch-zh","BTC ETF 流出把 79K 變成關卡","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780597996675-7q84.png","2026-06-04T18:32:49.287094+00:00",{"id":77,"slug":78,"title":79,"cover_image":80,"image_url":80,"created_at":81,"category":13},"0a044826-c8ea-4cc4-863e-7412f38e5229","why-cryptoslate-layer2-pages-prove-product-first-zh","為什麼 CryptoSlate 的 Layer 2 頁面證明加密媒體要先做產品","https:\u002F\u002Fxxdpdyhzhpamafnrdkyq.supabase.co\u002Fstorage\u002Fv1\u002Fobject\u002Fpublic\u002Fcovers\u002Finline-1780597073513-duo2.png","2026-06-04T18:17:19.517872+00:00",[83,88,93,98,103,108,113,118,123,128],{"id":84,"slug":85,"title":86,"created_at":87},"e1b4b518-f86b-410c-8c82-8cfb787ff2ef","moonpay-open-wallet-standard-ai-payments-zh","MoonPay 推 OWS，瞄準 AI 付款","2026-03-28T03:08:33.379969+00:00",{"id":89,"slug":90,"title":91,"created_at":92},"e72bae29-ddbd-437b-aaa4-cd662605394b","next-gen-crypto-simulators-ai-web3-training-zh","新一代加密模擬器更聰明了","2026-04-01T09:36:33.917023+00:00",{"id":94,"slug":95,"title":96,"created_at":97},"b8e39b58-6b9d-4714-92d3-26df18a3e0f4","rtk-cuts-claude-code-token-spend-zh","RTK 讓 Claude Code 少燒 Token","2026-04-01T10:24:29.259497+00:00",{"id":99,"slug":100,"title":101,"created_at":102},"7ff10146-4ca0-4670-a02c-384dde04f610","trm-labs-ai-agents-crypto-investigations-zh","TRM Labs 將 AI agent 帶進加密調查","2026-04-01T10:33:30.166266+00:00",{"id":104,"slug":105,"title":106,"created_at":107},"00668dea-9f0e-4019-b861-03817d5a8877","how-web3-marketing-changed-in-2026-zh","2026 Web3 行銷怎麼變了","2026-04-02T01:36:34.973322+00:00",{"id":109,"slug":110,"title":111,"created_at":112},"e7992274-42ee-40bc-bb05-97250098c56c","ai-agentic-defi-web3-grants-march-2026-zh","AI、Agentic DeFi 與 Web3 補助案","2026-04-02T05:51:36.857954+00:00",{"id":114,"slug":115,"title":116,"created_at":117},"5cef810b-af3d-467a-8b41-627769eca895","why-crypto-is-fixated-on-ai-agents-zh","為何加密圈盯上 AI Agent","2026-04-02T05:54:28.919864+00:00",{"id":119,"slug":120,"title":121,"created_at":122},"d30e6203-d522-41a1-b529-fcf4499cd985","web3-explained-what-it-is-why-it-matters-zh","Web3 是什麼，為何重要","2026-04-02T06:15:32.580114+00:00",{"id":124,"slug":125,"title":126,"created_at":127},"f29e65ae-64df-463b-ba22-afd9dcbd0f8f","trust-wallet-agent-kit-ai-trade-25-chains-zh","Trust Wallet 讓 AI 幫你交易","2026-04-02T06:27:33.183404+00:00",{"id":129,"slug":130,"title":131,"created_at":132},"91022b4c-b53e-4c18-abfe-914a8eca6e28","blockchain-in-ai-real-use-cases-zh","區塊鏈加 AI，真實落地在哪裡","2026-04-02T06:30:44.026286+00:00"]