加密貨幣，國會和法案：2025年在監管景觀中瀏覽

查看國會加密立法，主要參與者的最新發展以及對數字資產未來的潛在影響。

The intersection of crypto, Congress, and new bills is heating up, with significant implications for the digital asset space. Industry leaders are split on the best path forward, and here's the lowdown on what's happening.

加密，國會和新法案的交集正在加熱，對數字資產空間產生了重大影響。行業領導者處於最佳前進道路上，這是正在發生的事情的最低水平。

The Battle of the Bills: Clarity vs. Senate's Approach

法案之戰：清晰與參議院的方法

Two major pieces of legislation are vying for dominance: the House's Digital Asset Market Clarity (CLARITY) Act of 2025 and the Senate's yet-to-be-finalized market structure bill. The House bill has already passed, aiming to create a regulatory framework that fosters growth and protects consumers. The Senate, meanwhile, is drafting its own version, focusing on a comprehensive set of rules.

兩項主要立法正在爭奪統治地位：眾議院的數字資產市場清晰度（Clarity）2025年和參議院尚未按預定的市場結構法案。眾議院法案已經通過，旨在創建一個促進增長並保護消費者的監管框架。同時，參議院正在起草自己的版本，重點介紹一系列全面的規則。

Paradigm, along with several other VC firms, is backing the Senate's approach. They argue it's simpler and avoids forcing decentralized tokens into an inflexible framework. Dan Robinson of Paradigm highlights the Senate's focus on "ancillary assets," distinguishing typical crypto assets from securities.

範式與其他幾家風投公司一起支持參議院的方法。他們認為這更簡單，並避免強迫分散代幣進入僵化的框架。範式的丹·羅賓遜（Dan Robinson）強調了參議院對“輔助資產”的關注，將典型的加密資產與證券區分開來。

However, not everyone agrees. a16z crypto, for example, supports the CLARITY Act's token maturity framework. Miles Jennings from a16z crypto argues that undermining CLARITY's transfer restriction framework could incentivize circumventing decentralization.

但是，並不是每個人都同意。例如，A16Z加密支持Clarity Act的代幣成熟框架。來自A16Z加密貨幣的Miles Jennings認為，破壞Clarity的轉移限制框架可能會激勵避免權力下放。

Key Points of Contention

爭論點

• Decentralization: The House bill emphasizes a "robust, control-based decentralization test," while the Senate's approach is seen by some as a "race to the bottom."
• Regulatory Clarity: Both bills aim to provide clarity, but the debate centers on which approach is more effective and less burdensome.
• Investor Protection: Ensuring adequate protection for retail investors is a priority, but opinions differ on how to achieve this without stifling innovation.

A Strategic Bitcoin Reserve?

戰略比特幣儲備？

In a bold move, Congressional Republicans have introduced the BITCOIN Act of 2025. This bill proposes establishing a Strategic Bitcoin Reserve by revaluing decades-old gold certificates held by the Federal Reserve. The idea is to unlock billions in unrealized government assets to fund Bitcoin purchases.

國會共和黨人大膽地提出了2025年的《比特幣法》。該法案提議通過重新估算美聯儲持有的數十年的金證書來建立戰略性比特幣儲備。這個想法是在未實現的政府資產中釋放數十億美元的資金來購買比特幣。

Sen. Cynthia Lummis and Rep. Nick Begich are spearheading the effort, which would require the Federal Reserve to surrender all outstanding gold certificates to the Treasury Department. The Treasury would then reissue certificates reflecting current market prices.

參議員辛西婭·盧米斯（Cynthia Lummis）和眾議員尼克·貝吉奇（Nick Begich）率先付出了巨大的努力，這將要求美聯儲向財政部投降所有未償還的金證書。然後，財政部將重新發行反映當前市場價格的證書。

With gold trading significantly higher than the official $42.22 per ounce rate, the revaluation could generate substantial funds. The legislation proposes using these proceeds to purchase up to 1 million Bitcoin over five years.

由於黃金交易的高度高於官方每盎司42.22美元的官方，因此重估可能會產生大量資金。該立法建議使用這些收益在五年內購買多達100萬比特幣。

While supporters argue Bitcoin could offer protection against economic uncertainty, critics worry about potential dollar debasement. The legislation faces an uncertain path in Congress.

儘管支持者認為比特幣可以提供防止經濟不確定性的保護，但批評者擔心潛在的美元貶值。該立法面臨國會不確定的道路。

Market Reactions and Other News

市場反應和其他新聞

The crypto market continues to evolve rapidly. Recently, FLOKI surged after its debut on Robinhood, entering the billion-dollar club. The global cryptocurrency market cap stands at $3.95 trillion, showing a 3.1% increase in 24 hours. Bitcoin leads with 59% dominance, followed by Ethereum at 11.9%.

加密市場繼續迅速發展。最近，弗洛基（Floki）在羅比林（Robinhood）首次亮相後猛增，進入了十億美元的俱樂部。全球加密貨幣市值為3.95萬億美元，在24小時內增長了3.1％。比特幣以59％的優勢領先，其次是以太坊，為11.9％。

In other news, India is cracking down on crypto tax evasion, and President Trump has imposed new tariffs affecting various sectors.

在其他新聞中，印度正在打擊加密稅收逃稅，特朗普總統對影響各個部門的新關稅徵收。

Final Thoughts

最後的想法

The regulatory landscape for crypto is far from settled. With competing bills in Congress and ongoing debates about the role of digital assets, the future remains uncertain. One thing is clear: the intersection of crypto, Congress, and legislation will continue to be a major focal point for the industry.

加密貨幣的監管景觀遠未解決。隨著國會中的競爭法案和關於數字資產作用的持續辯論，未來仍然不確定。一件事很清楚：加密，國會和立法的交集將繼續是該行業的主要焦點。

It's a wild ride, isn't it? Buckle up, because the world of crypto is never boring!

這是一次瘋狂的旅程，不是嗎？係好，因為加密世界永遠不會無聊！