With the worldwide acceleration of "Smart Grid" and " Advanced Metering Infrastructure (AMI)", as important sensors and measuring point distributed on the network, Smart meters should have the functions of communication, load control, online upgrading, parameter protection, isolation of legal metering and non-metering parts in addition to basic energy metering. Therefore, China"s newly revised JJF 1245-2019 standard fully adopts the “Active Electrical Energy Meter” (abbreviated as IR46) formulated by the International Organization of Legal Metrology, and stipulates the software and hardware requirements and type approval of the new Smart Meters. This paper first discusses the requirements of the new Smart Meters, compares the differences between IR46 and China"s Meter standard, and introduces some key technologies of Smart Meters that support IR46 standard. Finally, describe the next research direction and application prospect of embedded Smart Meter.