- so we translate the heading.
Then content: "Toomey, the ranking Republican on the Senate Banking Committee, has been vocal about the need for a tailored regulatory framework. He argues that stablecoins — digital tokens typically pegged to a fiat currency like the U.S. dollar — shouldn't be forced into the same mold as commercial banks. The senator's stance comes as federal agencies, including the Securities and Exchange Commission and the Federal Reserve, have signaled interest in stricter oversight. Toomey wants to keep the door open for innovation without sacrificing consumer protections."
Translation: "Toomey是参议院银行委员会中资历最高的共和党人，他一直直言不讳地表示需要量身定制的监管框架。他认为，稳定币——通常与美元等法定货币挂钩的数字代币——不应被迫与商业银行采用相同的模式。这位参议员的立场出现之际，包括美国证券交易委员会和美联储在内的联邦机构已表示有意加强监管。Toomey希望在保护消费者的同时，为创新敞开大门。"
We need to keep proper nouns: "Securities and Exchange Commission" - we can translate as "美国证券交易委员会" but that's a translation. The instruction says keep proper nouns in original form? Actually, it says "Keep proper nouns (names, company names) in original form" - so we should keep "Securities and Exchange Commission" as is? But that's a proper noun, but it's an agency name. In Chinese news, they often translate it. The instruction says "Keep proper nouns (names, company names) in original form" - so we should keep "Securities and Exchange Commission" as "Securities and Exchange Commission" or maybe we can use the acronym "SEC"? But the original says "Securities and Exchange Commission" - we can keep it as is, but it might be awkward. Alternatively, we can translate it as "美国证券交易委员会" but that's a translation. The instruction says "Keep proper nouns (names, company names) in original form" - so we should not translate them. So we should keep "Securities and Exchange Commission" as is, and "Federal Reserve" as is. But in Chinese, it's common to translate these. However, the instruction is explicit: "Keep proper nouns (names, company names) in original form" - so we should keep them in English. So we'll write "Securities and Exchange Commission" and "Federal Reserve" as is. But that might be odd. Let's check the instruction: "Keep proper nouns (names, company names) in original form" - this includes names of people, companies, and possibly organizations. So we should keep "Securities and Exchange Commission" as is. But in the translation, we can put them in parentheses? Actually, we can just keep them as English. So we'll write: "包括Securities and Exchange Commission和Federal Reserve在内的联邦机构" - but that's not natural. Maybe we can use the acronyms? But the original uses full names. I think we should keep them as is, but we can also add a translation in parentheses? The instruction says "Keep proper nouns in original form" - so we should not translate them. So we'll keep them as "Securities and Exchange Commission" and "Federal Reserve". But in Chinese text, it's common to write "美国证券交易委员会" but that's a translation. To follow the instruction, we'll keep the English.
But let's see the overall context. The instruction says "Keep proper nouns (names, company names) in original form" - so for "Pat Toomey" we keep "Pat Toomey", for "CLARITY Act" we keep "CLARITY Act", for "Securities and Exchange Commission" we keep that, for "Federal Reserve" we keep that. So we'll do that.
So the translation: "Toomey是参议院银行委员会中资历最高的共和党人，他一直直言不讳地表示需要量身定制的监管框架。他认为，稳定币——通常与美元等法定货币挂钩的数字代币——不应被迫与商业银行采用相同的模式。这位参议员的立场出现之际，包括Securities and Exchange Commission和Federal Reserve在内的联邦机构已表示有意加强监管。Toomey希望在保护消费者的同时，为
