Peirce向後推：SEC的方法“必須糾正”

赫斯特·皮爾斯（Hester Peirce）被某些人親切地稱為“加密媽媽”，週一在監管機構的“ SEC Speaks”活動中開始演講，並有意

Monday saw the U.S. Securities and Exchange Commission (SEC) host an event titled "SEC Speaks" in Washington D.C., where Commissioner Hester Peirce, fondly nicknamed "Crypto Mom" by some, delivered a statement that diverged significantly from the former chairman's stance on crypto regulation.

週一，美國證券交易委員會（SEC）舉辦了一項題為“ SEC Speaks”的活動，其中一些人被某些人暱稱為“ Crypto Mom”的專員，發表了一份聲明，該聲明與前主席對Crypto法規的立場大有不同。

The SEC's New Direction: A Tale of Two Chairmen

SEC的新方向：兩個主席的故事

As reported by BTCVisas, Peirce commenced her speech with a deliberately selected history lesson on the American Revolution, setting the stage for a perspective that would contrast sharply with that of her previous boss, former SEC Chairman Gary Gensler. Unlike Gensler, who focused on regulation by enforcement, Peirce recognized the potential of crypto early on, proposing a safe harbor approach to regulating decentralized assets as early as 2020.

正如BTCVISAS報導的那樣，Peirce通過有意選擇的有關美國革命的歷史課開始了演講，這為觀點奠定了基礎，與她以前的老闆前SEC主席Gary Gensler的觀點形成鮮明對比。與加斯勒（Gensler）專注於執法的監管，皮爾斯（Peirce）早期就意識到了加密貨幣的潛力，他提出了一種安全港的方法，以便早在2020年就對分散資產進行調節。

"I proposed a limited safe harbor from the registration provisions of the securities laws for decentralized networks and their native tokens in February 2020, an idea that I further developed in March 2021," Peirce explained.

Peirce解釋說：“我提出了一個有限的安全港，該安全港是在2020年2月的分散網絡及其本地令牌的證券法的註冊規定中提出的，這一想法是我在2021年3月進一步發展的。”

This proposal, which was met with mixed reactions, aimed to create a framework for classifying and regulating crypto assets in a rapidly evolving industry.

該提案遇到了混雜的反應，旨在創建一個框架，用於在快速發展的行業中對加密資產進行分類和規範。

"The proposal would create a grace period during which a network's token, issued prior to the launch of the network for the purpose of funding development of the said network, would be subject to securities laws," she elaborated. "After the launch of the network, the token would no longer be classified as a security and would be subject to a pre-determined time period during which it could trade on secondary markets without being subject to securities laws."

她闡述說：“該提案將創建一個寬限期，在此期間，網絡在啟動網絡之前發行的網絡的代幣是為了資助上述網絡的目的，將受到證券法的約束。” “網絡啟動後，代幣將不再被歸類為安全性，並且會遵守預定的時間段，在此期間，它可以在二級市場上進行交易而無需遵守證券法。”

However, Peirce's suggestions were largely disregarded by Gensler, who instead opted for a regulation by enforcement strategy. This approach ultimately led to the decimation of the industry and transformed the SEC into the primary adversary of crypto.

但是，皮爾斯（Peirce）的建議在很大程度上被Gensler忽略了，而Gensler則選擇了執法策略的監管。這種方法最終導致了該行業的破產，並將SEC轉變為加密的主要對手。

Speaking at the SEC Speaks event on Monday, Peirce expressed her disagreement with the former chairman's view on the security status of crypto assets. Gensler had previously stated his belief that, "Of the nearly 10,000 tokens in the crypto market, I believe the vast majority are securities," at the 2022 installment of SEC Speaks.

皮爾斯（Peirce）在周一的SEC演講活動上發表講話，對前董事長對加密資產的安全狀況的看法表示分歧。 Gensler此前曾表示，他的信念是，“在加密貨幣市場中近10,000個令牌中，我相信絕大多數是證券”，在2022年的SEC分期付款中。

But with the newly appointed Chairman Paul Atkins now by her side, Peirce recounted the story of Samuel Whittemore, a hero of the eighteenth-century American Revolution, before tying it to her own revolutionary perspective. Unlike Gensler, Peirce believes that most crypto assets are not securities.

但是，隨著新任命的董事長保羅·阿特金斯（Paul Atkins）現在在她的身邊，佩爾斯講述了18世紀美國革命的英雄塞繆爾·惠特莫爾（Samuel Whittemore）的故事，然後將其與她自己的革命觀點聯繫在一起。與Gensler不同，Peirce認為大多數加密資產不是證券。

"The most popular topic of discussion by far in written input and industry meetings has been security status," Peirce pointed out. "My short answer to the question, ‘Are crypto assets securities,’ is that most currently existing crypto assets in the market are not."

皮爾斯指出：“迄今為止，在書面輸入和行業會議上討論的最流行的話題是安全狀況。” “我對這個問題的簡短回答是'加密資產證券，'是市場中當前現有的加密資產不是。”

During her speech, Peirce went on to discuss many nuanced legal points, stressing the importance of economic realities and explaining that "the line demarcating transactions covered by the securities laws from those that are not, is still hazy."

在演講中，皮爾斯繼續討論了許多細微的法律觀點，強調了經濟現實的重要性，並解釋說：“劃定沒有證券法涵蓋的交易的線路仍然是朦朧的。”

Pledge for Regulatory Clarity

保證法規清晰度

In the closing remarks of her speech, Peirce touched upon the SEC's role in providing regulatory clarity.

在她的演講的結束評論中，皮爾斯談到了SEC在提供監管清晰度方面的作用。

"As the SEC embarks on this new journey, we will, of course, continue to perform our traditional functions, such as policing the market for fraud and ensuring that those who sell securities, such as equity crowdfunding issuers, comply with the registration requirements and disclosure regime," she added.

她補充說：“當SEC踏上這一新旅程時，我們當然將繼續執行我們的傳統職能，例如為欺詐市場進行監管，並確保出售證券的人，例如股權眾籌發行人，符合註冊要求和披露制度。”

But by far, the most consequential of her statements was her take on the security status of crypto assets. The commissioner then ended her speech with a final reference to Whittemore.

但是到目前為止，她的陳述最大的結果是她對加密資產的安全狀況。然後，專員以最終提及惠特莫爾（Whittemore）結束了演講。

"Two hundred and fifty years after Samuel Whittemore made his stand behind the stone wall, I stand here today grateful for the freedom for which he fought," Peirce concluded. "I hope that all of us can look up from the minutiae of the securities laws for a moment to celebrate a quarter of a millennium’s fight for freedom."

皮爾斯總結說：“在塞繆爾·惠特莫爾（Samuel Whittemore）在石牆後面的立場上，我今天在這裡對他所戰鬥的自由表示感謝。” “我希望我們所有人都可以從《證券法》的細節中抬起頭來，慶祝千年的四分之一為爭取自由而戰。”