SEC 拒絕 Coinbase 對加密貨幣特定監管規則的請求

美國證券交易委員會 (SEC) 對 Coinbase 的加密貨幣行業規則制定請願書提出了反動議。美國證券交易委員會認為，除了現有的美國證券法之外，沒有必要為加密資產建立新的監管框架，並且其針對加密相關業務的執法行動驗證了現行法規的有效性。

SEC Rejects Coinbase's Petition for Crypto-Specific Regulatory Framework

SEC 拒絕 Coinbase 對加密貨幣特定監管框架的請願

Washington, D.C., May 12, 2022 - The United States Securities and Exchange Commission (SEC) has filed a motion in opposition to Coinbase's petition for rulemaking to create a new regulatory framework for cryptocurrency assets. In its brief, submitted to the US Court of Appeals for the Third Circuit on May 10, the SEC argues that existing securities laws provide an adequate foundation for regulating crypto markets, and that there is no need for a separate set of rules.

華盛頓特區，2022 年 5 月 12 日 - 美國證券交易委員會 (SEC) 已提交動議，反對 Coinbase 為加密貨幣資產創建新監管框架的規則制定請願書。 SEC 在 5 月 10 日提交給美國第三巡迴上訴法院的簡報中認為，現有證券法為監管加密貨幣市場提供了充分的基礎，不需要製定一套單獨的規則。

Coinbase's Petition and SEC's Denial

Coinbase 的請願書和 SEC 的拒絕

In July 2021, Coinbase, a leading cryptocurrency exchange, filed a petition with the SEC, requesting the agency to initiate a rulemaking process to establish a comprehensive regulatory framework for the use and operation of cryptocurrencies. The SEC denied this request in September 2021, citing the applicability of existing securities laws to crypto assets.

2021 年 7 月，領先的加密貨幣交易所 Coinbase 向 SEC 提交請願書，要求該機構啟動規則制定流程，為加密貨幣的使用和營運建立全面的監管框架。 SEC 於 2021 年 9 月拒絕了這項請求，理由是現有證券法適用於加密資產。

Coinbase's Appeal and SEC's Countermotion

Coinbase的上訴和SEC的反動

In response to the SEC's denial, Coinbase filed a petition for review with the US Third Court of Appeals in October 2021. The petition asked the court to order the SEC to undertake the rulemaking process as requested.

針對 SEC 的否認，Coinbase 於 2021 年 10 月向美國第三上訴法院提交了複審請願書。

The SEC's motion in opposition argues that the existing legal framework is sufficient to address the regulatory challenges posed by crypto assets, and that a new rulemaking process is unnecessary. The agency asserts that it has consistently applied the principles of securities regulation to crypto markets and has not asserted any new or expanded authority.

SEC 的反對動議認為，現有的法律框架足以解決加密資產帶來的監管挑戰，並且沒有必要製定新的規則制定流程。該機構聲稱，它一直將證券監管原則應用於加密貨幣市場，並且沒有主張任何新的或擴大的權力。

SEC's Arguments

美國證券交易委員會的論點

In its brief, the SEC outlines several arguments in support of its position:

SEC 在其簡報中概述了支持其立場的幾個論點：

• Existing Securities Laws Provide Adequate Framework: The SEC contends that existing securities laws provide a comprehensive and flexible framework for regulating crypto assets. The agency has extensive experience applying these laws to a wide range of financial instruments, including traditional securities, digital assets, and hybrid instruments.
• No Need for New Authority: The SEC argues that it has never changed its position on its authority to regulate crypto assets. The agency maintains that its application of securities laws to crypto markets does not constitute a "sweeping new authority."
• Enforcement Actions Validate Existing Laws: The SEC points to its enforcement actions against crypto-related businesses as evidence of the effectiveness of existing securities laws. The agency has pursued cases involving unregistered offerings, manipulation, and fraud, demonstrating its ability to address misconduct in the crypto market.

Rebuttal of Coinbase's Claims

現有證券法提供了充分的框架：美國證券交易委員會認為，現有證券法為監管加密資產提供了全面且靈活的框架。該機構在將這些法律應用於各種金融工具（包括傳統證券、數位資產和混合工具）方面擁有豐富的經驗。立場。該機構堅稱，其將證券法應用於加密貨幣市場並不構成「全面的新權威」。法有效性的證據。該機構已追蹤涉及未註冊產品、操縱和詐欺的案件，展示了其解決加密市場不當行為的能力。

The SEC also rebuts Coinbase's claims that it failed to provide a "reasonable explanation" for denying the rulemaking petition. The agency states that it provided a "brief statement" to Coinbase explaining the basis for its decision, which was consistent with the SEC's longstanding position on crypto assets.

SEC 還反駁了 Coinbase 的說法，即它未能為拒絕規則制定請願書提供「合理解釋」。該機構表示，它向 Coinbase 提供了一份“簡短聲明”，解釋了其決定的依據，這與 SEC 對加密資產的長期立場是一致的。

Crypto Market Overview

加密貨幣市場概覽

In addition to the SEC's motion, the cryptocurrency market has experienced a slight uptick in value in the past 24 hours. The total market capitalization has increased by 0.19%, bringing it to $2.25 trillion. Most major cryptocurrencies have posted modest gains, with Solana (SOL) and Binance Coin (BNB) leading the way with increases of around 1%. Bitcoin, the largest cryptocurrency by market capitalization, continues to trade above the $60,000 mark, despite a recent dip.

除了 SEC 的動議之外，加密貨幣市場的價值在過去 24 小時內還出現了小幅上漲。總市值成長0.19%，達到2.25兆美元。大多數主要加密貨幣均出現小幅上漲，其中 Solana (SOL) 和 Binance Coin (BNB) 漲幅領先，漲幅約為 1%。比特幣是市值最大的加密貨幣，儘管最近有所下跌，但其交易價格仍繼續高於 6 萬美元大關。

Conclusion

結論

The SEC's motion in opposition to Coinbase's petition underscores the agency's stance that existing securities laws provide a sufficient regulatory framework for crypto assets. The agency maintains that there is no need for a new rulemaking process, and that it will continue to apply the principles of securities regulation to the crypto market. This development could have implications for the future of crypto regulation in the United States.

美國證券交易委員會反對 Coinbase 請願書的動議強調了該機構的立場，即現有證券法為加密資產提供了充分的監管框架。該機構認為，不需要新的規則制定程序，並將繼續將證券監管原則應用於加密貨幣市場。這項發展可能會對美國加密貨幣監管的未來產生影響。