巴塞爾加密標準再次成為社交媒體X的焦點，因為圍繞全球數字資產法規的對話正在塑造。

談話始於加密愛好者和Emurgo首席運營官Nikhil Joshi。他將自己的帖子標記為“為什麼巴塞爾加密統治在東南亞很重要”。

Crypto enthusiast and EMURGO Chief Operating Officer (COO) Nikhil Joshi has put the Basel Crypto standard on the agenda again on social media X as conversations around global digital assets regulation continue to shape up.

加密愛好者兼Emurgo首席運營官（COO）Nikhil Joshi在社交媒體X上再次將巴塞爾加密貨幣標準置於議程上，因為圍繞全球數字資產監管的對話不斷發展。

Tying his post on X as “Why Basel Crypto Rules Matter in Southeast Asia,” Joshi began by highlighting the integration of the Basel Committee on Banking Supervision’s rules on direct exposure to cryptocurrencies.

喬希（Joshi）將他的帖子綁在X上是“為什麼巴塞爾加密規則在東南亞重要”，首先強調了巴塞爾銀行監督委員會關於直接暴露加密貨幣的規則的整合。

The thinking behind the capital requirements imposed on banks for their holdings in digital assets is straightforward.

對銀行在數字資產中持有的資本要求背後的思想很簡單。

This rule, dubbed the Basel Crypto Standard, was first revised and amended on July 17, 2024. However, according to Joshi’s post on X, it will become effective this year.

該規則被稱為巴塞爾加密貨幣標準，首次修訂並於2024年7月17日修訂。但是，根據喬希（Joshi）在X上的帖子，該帖子將於今年生效。

He also pointed out the growing adoption of the rules among regulators worldwide.

他還指出了在全球監管機構中越來越多地通過了規則。

Banks must consider the characteristics of digital assets and category them based on these features.

銀行必須考慮數字資產的特徵，並根據這些功能對其進行分類。

The first group, which includes assets that meet specific conditions, will receive more favorable capital treatment than the second.

第一組包括符合特定條件的資產，將獲得比第二款更有利的資本處理。

This is because assets in Group 2 are perceived as “higher risk” tokens, and those in Group 1 are perceived as safer assets.

這是因為第2組中的資產被認為是“更高的風險”令牌，而第1組中的資產被認為是安全的資產。

Per Joshi’s post, tokenized real-world assets (RWAs) or stablecoins are examples of assets in Group 1.

根據喬希（Joshi）的帖子，標記現實世界中的資產（RWAS）或穩定幣是第1組資產的示例。

BTC, ETH, and “most unbacked tokens ” are the riskier assets in Group 2, although they can be considered slightly better if they meet hedging and risk criteria.

BTC，ETH和“最無抵抗的令牌”是第2組風險的資產，儘管如果符合對沖和風險標準，它們可以認為稍好一些。

For more context on the specific conditions of assets in Group 1, they should be tokenized traditional assets or have an effective stabilization mechanism linked to a traditional asset.

有關第1組資產的特定條件的更多背景，它們應該是令牌化的傳統資產，或具有與傳統資產有關的有效穩定機制。

They must also have clear, legally enforceable rights and obligations and sufficient risk mitigation mechanisms and be centrally cleared, eliminating default risk.

他們還必須具有明確的，合法可執行的權利和義務和足夠的風險緩解機制，並在中央清除，以消除違約風險。

Growing Adoption and Ties to Top Digital Currencies

越來越多地採用並與頂級數字貨幣聯繫

In Asia, particularly in Singapore, where crypto innovation has seen vast acceptance, regulators are beginning to favor this Basel rule.

在亞洲，尤其是在新加坡，加密貨幣創新已獲得廣泛接受，監管機構開始偏愛這一巴塞爾統治。

The Monetary Authority of Singapore (MAS), the nation’s Central Bank, is taking crucial steps to ensure that banks and crypto entities in the region are aligned with these rules.

美國中央銀行新加坡貨幣當局正在採取至關重要的步驟，以確保該地區的銀行和加密實體與這些規則保持一致。

It is only a matter of time before regulators in Malaysia, Indonesia, Thailand, and the Philippines follow suit.

馬來西亞，印度尼西亞，泰國和菲律賓的監管機構效仿只是時間問題。

This expansion hinges on the crypto industry’s growth in these countries.

這種擴展取決於加密貨幣行業在這些國家的增長。

Invariably, the mainstream adoption of the Basel rule may negatively impact the performance of BTC and ETH Exchange-Traded Funds (ETFs).

巴塞爾規則的主流採用總是會對BTC和ETH交易所交易基金（ETF）的績效產生負面影響。

Since issuers may need to meet the laid-down tokenization standard, achieving it might become too tedious in the region.

由於發行人可能需要達到奠基的代幣化標準，因此在該地區實現它可能變得太乏味了。

Also, it may alter how stablecoins and tokenized assets are offered and held in the region.

此外，它可能會改變該地區的穩態和令牌資產的方式。

Crypto Regulatory Trends and Expectations

加密監管趨勢和期望

Globally, regulators are moving to implement a robust regulatory framework for the burgeoning crypto sector.

在全球範圍內，監管機構正在為新興的加密貨幣部門實施強大的監管框架。

While some of these rules have been quite lenient, especially after Donald Trump assumed office, others are unfavorable.

儘管其中一些規則非常寬容，尤其是在唐納德·特朗普（Donald Trump）上任之後，但其他規則不利。

However, things are changing as regulatory bodies like the DOJ have dismantled their crypto enforcement units.

但是，隨著司法部等監管機構拆除了加密執法部門，情況正在發生變化。

A few months ago, SEC Commissioner Hester Peirce called for clearer crypto regulation in the country.

幾個月前，SEC專員Hester Peirce呼籲該國進行更清晰的加密法規。

The commissioner hammered on “Operation Chokepoint 2.0” during an interview, pointing out its adverse effects on the financial system.

專員在面試中對“ Chokepoint 2.0行動”進行了錘擊，並指出了其對金融體系的不利影響。

Operation Chokepoint 2.0 is touted as a government initiative designed to debank crypto firms.

Chokepoint 2.0行動被吹捧為旨在撤銷加密公司的政府倡議。

Though believed to be an old practice, American cryptocurrency exchange Coinbase claims that it is purportedly still happening in the emergent crypto industry.

儘管被認為是一種古老的做法，但美國加密貨幣交易所Coinbase聲稱，據稱它在新興的加密貨幣行業仍在發生。

In the coming months, the crypto landscape is expected to improve significantly, possibly to the point of getting several altcoin ETF filings approved by the SEC.

在接下來的幾個月中，預計加密景觀將有所改善，可能會獲得SEC批准的幾個Altcoin ETF文件。