與數字野生西部相比，加密貨幣景觀終於看到了監管映射的外觀的出現。

SEC剛剛概述了路線圖，以闡明證券法在加密貨幣中的應用。該計劃的目的是成為市場參與者的指南針，在創新和合規之間振盪。深入研究正在進行的調節的迷宮。

The crypto landscape, often compared to a digital Wild West, seems to be finally seeing the emergence of a semblance of regulatory mapping. The SEC, the historical guardian of American financial markets, has just outlined a roadmap to clarify the application of securities laws to cryptos.

加密景觀通常與數字野生西部相比，似乎終於看到了監管映射的外觀的出現。美國金融市場的歷史守護者SEC剛剛概述了一個路線圖，以闡明證券法對加密貨幣的應用。

This initiative, far from being a flashy move, aims to be a compass for market players, oscillating between innovation and compliance. A deep dive into the labyrinth of a regulation in progress.

這項倡議遠非浮華的舉動，旨在成為市場參與者的指南針，在創新和合規之間振盪。深入研究正在進行的調節的迷宮。

Cryptos in the Spotlight

聚光燈的加密貨幣

The yuan continues to fall. Some see it as a signal: the time has come to turn to crypto. Meanwhile, the SEC is becoming more vigilant. On April 10, its Division of Corporate Finance issued a statement. It explains how federal securities laws could apply to crypto assets. A clear warning, in an increasingly tense context.

人民幣繼續下降。有些人將其視為一個信號：現在是時候轉向加密貨幣了。同時，SEC變得越來越警惕。 4月10日，其公司融資部發表了一份聲明。它解釋了聯邦證券法可以如何適用於加密資產。在越來越緊張的情況下，明確的警告。

Although non-binding, these guidelines highlight a clear expectation: companies must unveil the behind-the-scenes. Operations, business models, technological mechanisms... Nothing should remain in the shadows. “A welcome step towards clearer regulatory direction”, according to attorney Joe Carlasare.

儘管沒有約束力，但這些準則強調了一個明確的期望：公司必須揭開幕後幕後。操作，業務模型，技術機制...陰影中沒有任何東西。喬·卡拉薩雷（Joe Carlasare）律師說：“朝著更清晰的監管方向邁出了可喜的一步。”

The SEC now requires companies to explain their technical infrastructure with surgical precision.

SEC現在要求公司以手術精度來解釋其技術基礎設施。

Blockchain Proof-of-Work or Proof-of-Stake? Block sizes, transaction speeds, reward mechanisms... These details, often relegated to the background, are becoming central.

區塊鏈的工作證明或股份證明？區塊尺寸，交易速度，獎勵機制...這些細節通常降級為背景，正變得核心。

Even the open-source nature of a protocol must be explicitly mentioned. An effort for transparency that, if well executed, could enhance the credibility of a sector still perceived as opaque.

甚至必須明確提及協議的開源性質。透明度的努力，如果執行得很好，可以提高仍然被認為是不透明的行業的信譽。

While the SEC specifies that no registration is required for crypto offerings not classified as securities, it carefully avoids defining which assets fall into this category. A strategic vagueness? Probably. This gray area leaves a persistent uncertainty, reminding us that the legal battle over cryptos like XRP or ETH is far from over.

儘管SEC指定未歸類為證券的加密產品不需要註冊，但它仔細地避免定義哪些資產屬於此類別。戰略性的模糊性？大概。這個灰色區域留下了持久的不確定性，提醒我們，XRP或ETH等加密貨幣的法律鬥爭還遠遠沒有結束。

Transparency Required: Risks to Disclose Without Filter

需要透明度：披露沒有過濾的風險

Companies must now list risks with unfaltering honesty. Price volatility, network vulnerabilities, dangers associated with crypto custody... The SEC demands a comprehensive list, going beyond classical business risks. The goal? To avoid unpleasant surprises for investors, often overwhelmed by technical jargon or overly bold promises.

公司現在必須以誠實不穩定的方式列出風險。價格波動，網絡漏洞，與加密貨幣監護相關的危險……SEC要求全面清單，超越了古典業務風險。目標？為了避免對投資者感到不愉快的驚喜，通常被技術術語或過於大膽的承諾所壓倒性的。

Another crucial point: smart contracts. The SEC insists that companies reveal whether their code has been audited by third parties and who can modify it. A measure targeting decentralized projects, where protocol updates can trigger governance wars. In short, every modification must be traced, every decision justified.

另一個關鍵點：智能合約。 SEC堅持認為，公司揭示其代碼是否已由第三方審核並可以對其進行修改。針對分散項目的措施，協議更新可以觸發治理戰爭。簡而言之，必須追踪每個修改，每個決定都是合理的。

Finally, the identity of key executives and significant employees must be disclosed. A requirement that disrupts the anonymity sometimes cherished in crypto culture. For the SEC, knowing the key players helps assess the legitimacy of a project. An approach that could deter scams but also clash with decentralization purists.

最後，必須披露主要高管和重要員工的身份。這項要求破壞有時在加密文化中珍惜的匿名性的要求。對於SEC，了解主要參與者有助於評估項目的合法性。一種可以阻止騙局但也與權力下放純粹主義者衝突的方法。

With these directives, the SEC is walking a tightrope: regulating without suffocating, clarifying without rigidifying. While some see this as a first step towards institutional recognition, others denounce a regulatory straitjacket. Nevertheless, in a sector where trust is a rare currency, this imposed transparency could prove beneficial.

有了這些指示，SEC正在行走一根繩索：調節而不會令人窒息，澄清而不施加嚴格。雖然有些人認為這是邁向機構認可的第一步，但另一些人則譴責監管緊身衣。然而，在信任是一種罕見貨幣的行業中，這種施加的透明度可能會有益。

Let’s hope that stakeholders see it as an opportunity, not an obstacle. In crypto as elsewhere, more clarity is better than ambiguity. And this clarity could soon be paired with a booster shot. Trump, if he continues on his path, could very well usher the industry into a new era. So, hang on tight.

希望利益相關者將其視為機會，而不是障礙。在加密貨幣和其他地方，更清晰勝於歧義。而且這種清晰度很快就會與助推器相結合。特朗普，如果他繼續前進，就可以很好地將整個行業帶入一個新時代。所以，緊緊抓住。

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Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.

自2017年以來，Evariste著迷於比特幣，不斷研究該主題。儘管他最初的興趣是交易，但他現在積極尋求了解以加密貨幣為中心的所有進步。作為一名編輯，他努力始終如一地提供反映整個行業狀態的高質量工作。

The post A Glimpse into the Labyrinth: Deciphering the SEC's Latest Moves on Cryptos in 2024 appeared first on Cointribune.

該帖子瞥見迷宮：在2024年對SEC對加密貨幣的最新動作解密，首先出現在Cointribune上。