Currently, I am also continuously tracking the progress of the stablecoin bill. Even if the bill passes in the Senate, it is only the first step in the legislative procedure, and it still needs to be reviewed by the House of Representatives. Moreover, the bill itself was drafted primarily by the Republican Party, with strong support from Trump and his pro-market faction. According to the current congressional schedule and historical experience, from Senate passage to House review and presidential signature, the overall process is still expected to take 2 to 3 months. If the process goes smoothly, it is hoped that legislation can be completed in the third quarter of this year. If there are article modifications or party disputes, a delay until the end of the year or even early next year cannot be ruled out. Therefore, the current Senate passage is more of a strong policy signal, and there is still a way to go before it becomes a federal law.