SEC加密特遣部隊將很快舉辦其下一個大圓桌會議，“令牌化 - 搬家資產OnChain：Tradfi和Defi Meet olet of tradfi和Defi的地方”

5月12日的加密貨幣圓桌會議將包括兩個主面板討論，這些討論很可能會對SEC關於資產令牌化的政策有用。

The Securities and Exchange Commission (SEC) is preparing for its next big crypto event. On May 12, the SEC’s Crypto Task Force will host a roundtable titled “Tokenization — Moving Assets Onchain: Where TradFi and DeFi Meet”.

美國證券交易委員會（SEC）正在為下一次大型加密賽準備。 5月12日，美國證券交易委員會（SEC）的加密特遣部隊將舉辦一個圓桌會議的標題為“令牌化 - 移動資產OnChain：Tradfi和Defi相遇的地方”。

The event will feature top-level executives from large financial institutions and crypto players to discuss the regulation of tokenizing traditional assets.

該活動將以大型金融機構和加密貨幣參與者的高級管理人員為特色，討論對傳統資產的規定。

The May 12 crypto roundtable will include two main panel discussions that might well shed some useful light on the SEC’s policy on asset tokenization. One of them is “Evolution of Finance: Capital Markets 2.0.” The panel will probably cover how traditional capital markets are evolving to include blockchain technology and what regulatory issues an evolution of that kind raises.

5月12日的加密貨幣圓桌會議將包括兩個主面板討論，這些討論很可能會對SEC關於資產令牌化的政策有用。其中之一是“金融的發展：資本市場2.0”。該小組可能會涵蓋傳統的資本市場如何發展，包括區塊鏈技術以及這種加劇的監管問題。

With Robert Mitchnick of BlackRock and Cynthia Lo Bessette of Fidelity on the panel, participants will learn from firms that have been successful in rolling out digital asset products. These executives lead firms overseeing trillions of assets that have just dipped their toes into cryptocurrency products.

在面板上，貝萊德（Blackrock）的羅伯特·米奇尼克（Robert Mitchnick）和菲德爾（Fidelity）的辛西婭·羅貝特（Cynthia lo Bessette）將向參與者學習成功推出數字資產產品的公司。這些高管領導的公司負責監督剛剛將腳趾浸入加密貨幣產品的數万億資產。

Nasdaq’s participation through Eun Ah Choi suggests the discussion may also include how conventional market infrastructure providers view tokenized securities trading. This may include an inquiry into potential changes to existing exchange frameworks and settlement infrastructures.

納斯達克通過Eun AH Choi的參與表明，討論還可能包括傳統市場基礎設施提供商如何看待令牌化證券交易。這可能包括對現有交換框架和和解基礎架構的潛在更改的調查。

According to the SEC meeting brief, the second panel, “The Future of Tokenization,” will feature participants from companies like Robinhood, Chia Network, and Securitize. They will potentially focus on longer-term technological and regulatory developments. The SEC is particularly interested in hearing ideas about appropriate regulatory approaches to tokenization because of Commissioner Peirce’s comments.

根據SEC會議摘要，第二小組“代幣化的未來”將以Robinhood，Chia Network和Securitize等公司的參與者為特色。他們將有可能專注於長期的技術和法規發展。 SEC特別有興趣聽取有關專員Peirce的評論，了解有關適當監管方法的想法。

Key themes likely to dominate the crypto discussion

可能主導加密討論的關鍵主題

Some of the top themes that will arise in the SEC’s tokenization roundtable are dependent on the list of panelists and the current regulatory landscape. Interoperability and standards of asset tokenization can be a major subject of discussion, and the DTCC and major bank panelists will address how current securities infrastructure can be extended to accommodate tokenized assets.

SEC的代幣化圓桌會議中將出現的一些頂級主題取決於小組成員名單和當前的監管格局。資產令牌化的互操作性和標準可能是討論的主要主題，DTCC和主要銀行小組成員將如何解決當前證券基礎設施如何擴展以適應標記資產。

The distinction between security tokens and utility tokens may receive attention, especially with Commissioner Peirce leading the Crypto Task Force. Her previous “safe harbor” proposal for token projects suggests the SEC might be looking into more nuanced approaches to token classification beyond the current application of the Howey test.

安全令牌與公用事業令牌之間的區別可能會受到關注，尤其是在Peirce專員領導加密貨幣工作隊的情況下。她以前針對令牌項目的“安全港”提案表明，SEC可能正在研究除了當前的Howey測試應用外，對令牌分類的方法更為細微。

The SEC crypto team could also address tokenized asset custody offerings. This is because Fidelity and BlackRock may be negotiating institutional-grade custody requirements. This subject is especially relevant in the wake of the SEC’s enforcement actions on crypto custody activities.

SEC加密團隊還可以解決令牌化資產保管產品。這是因為保真度和黑石可能正在談判機構級的監護要求。在SEC執行加密監護活動的執行行動之後，該主題尤其重要。

Market structure issues, such as trading venues and settlement systems for tokenized securities, will likely be at the forefront with Nasdaq’s involvement. Issues around where tokenized assets fit into the current market infrastructure versus possibly new ones might also arise.

納斯達克的參與可能會處於最前沿的市場結構問題，例如為標記證券的交易場所和結算系統。關於標記資產適合當前市場基礎設施與可能的新資產的問題也可能出現。

Apollo Management and Invesco will address compliance challenges for traditional financial institutions entering the tokenization space. BlackRock’s presence at the roundtable comes at a time when there has been competition between Strategy and BlackRock to purchase Bitcoin. According to the most recent information, Strategy spent $180 million to purchase 1,895 Bitcoin.

Apollo Management和Invesco將針對進入令牌化領域的傳統金融機構應對合規性挑戰。貝萊德（Blackrock）在圓桌會議上的存在是在戰略與貝萊德（Blackrock）購買比特幣之間的競爭時。根據最新信息，戰略花費了1.8億美元購買1,895個比特幣。