回顧今年全球加密貨幣市場的重大監管動態

2024年對於全球區塊鏈監管來說特別重要且關鍵，加密貨幣產業的監管架構初步完善

2024 marks a critical juncture in global blockchain regulation as the regulatory landscape for the cryptocurrency industry is being initially refined and crypto assets integrate into the mainstream financial system.

2024年是全球區塊鏈監管的關鍵節點，加密貨幣產業監管格局初步完善，加密資產融入主流金融體系。

The year began with a bang as the US Securities and Exchange Commission (SEC) approved the first Bitcoin and Ethereum exchange-traded funds (ETFs) on January 10 and May 23, respectively. This decision marked a 180-degree shift in the SEC's stance and paved the way for the Ethereum ETF to officially start trading on July 23.

新年伊始，美國證券交易委員會 (SEC) 分別於 1 月 10 日和 5 月 23 日批准了第一批比特幣和以太坊交易所交易基金 (ETF)。這項決定標誌著 SEC 立場的 180 度轉變，為以太坊 ETF 於 7 月 23 日正式開始交易鋪平了道路。

These two events served as major milestones in the US crypto investment landscape, with the Bitcoin ETF and Ethereum ETF providing a scalable bridge between traditional finance and cryptocurrencies, and becoming key integration points.

這兩起事件是美國加密貨幣投資領域的重要里程碑，比特幣 ETF 和以太坊 ETF 在傳統金融和加密貨幣之間提供了一座可擴展的橋樑，並成為關鍵的整合點。

According to SoSoValue data, as of December 23, the total net asset value of the US Bitcoin spot ETF was $105.08 billion, accounting for 5.7% of Bitcoin's market value. The total net asset value of the US Ethereum spot ETF was $12.05 billion, accounting for 2.94% of Ethereum's market value.

SoSoValue數據顯示，截至12月23日，美國比特幣現貨ETF總資產淨值為1,050.8億美元，佔比特幣市值的5.7%。美國以太幣現貨ETF總資產淨值為120.5億美元，佔以太幣市值的2.94%。

The successful launch of these two ETFs has made it possible for more altcoin ETFs, such as Solana, Doge, and XRP ETFs, to be applied for, further promoting the maturity of the crypto asset market.

這兩個ETF的成功推出，使得更多山寨幣ETF，如Solana、Doge、XRP ETF等得以申請，進一步推動了加密資產市場的成熟。

This year also saw two important bills regarding US crypto regulation. On May 22, the US House of Representatives approved the Financial Innovation and Technology Act of the 21st Century (FIT21), which aims to clearly define cryptocurrencies, classify specific cryptocurrencies to determine whether they are securities or commodities, and decide which government agency (SEC or Commodity Futures Trading Commission CFTC) will regulate them.

今年還出現了兩項有關美國加密貨幣監管的重要法案。 5 月22 日，美國眾議院批准了《21 世紀金融創新與技術法案》（FIT21），該法案旨在明確定義加密貨幣，對特定加密貨幣進行分類，以確定其是證券還是商品，並決定由哪一個政府機構（SEC或商品期貨交易委員會（CFTC）將對其進行監管。

However, another regulation, SAB 121, which aimed to overturn accounting standards set for companies that hold cryptocurrencies, was ultimately vetoed by President Biden on June 1. This may change with the new government taking office in the new year and facilitating the adoption of cryptocurrencies by more large companies.

然而，另一項旨在推翻為持有加密貨幣的公司製定的會計準則的法規SAB 121最終於6月1日被拜登總統否決。採用，這種情況可能會發生變化由更多的大公司。

After the US elections, the new government led by Trump is set to usher in a new regulatory model for cryptocurrencies. Trump, who supports cryptocurrencies, has appointed several pro-crypto politicians to key positions in his new government.

美國大選後，川普領導的新政府將迎來新的加密貨幣監管模式。支持加密貨幣的川普已任命幾位支持加密貨幣的政治人物擔任新政府的關鍵職位。

For example, on December 5, Trump officially nominated Paul Atkins as SEC chairman. On December 6, Trump announced the appointment of David Sacks as the White House Chief of AI and Cryptocurrency Affairs, marking the first establishment of this position.

例如，12月5日，川普正式提名保羅·阿特金斯為SEC主席。 12月6日，川普宣布任命大衛·薩克斯為白宮人工智慧和加密貨幣事務主管，標誌著這一職位的首次設立。

On December 23, 29-year-old political newcomer Bo Hines was appointed as the executive director of Trump's crypto committee. On December 13, French Hill was elected chairman of the House Financial Services Committee. This series of appointments suggests that the US may adopt more friendly policies in the field of crypto regulation in the future.

12 月 23 日，29 歲的政壇新人 Bo Hines 被任命為川普加密貨幣委員會執行董事。 12月13日，弗倫奇·希爾當選眾議院金融服務委員會主席。這一系列任命顯示美國未來可能在加密貨幣監管領域採取更友善的政策。

In Europe, the EU's Markets in Crypto-Assets Regulation (MiCA) bill established regulatory rules for stablecoin issuers, which took effect on June 30 and was fully implemented on December 30.

在歐洲，歐盟加密資產市場監管（MiCA）法案為穩定幣發行人制定了監管規則，該法案於6月30日生效，並於12月30日全面實施。

MiCA is the first complete regulatory framework from the EU for the crypto industry, particularly providing clear requirements for stablecoin regulation. Although some crypto companies have stated they are not fully prepared, under the increasingly stringent compliance requirements, competition in the European stablecoin market is bound to intensify.

MiCA是歐盟第一個針對加密貨幣產業的完整監管框架，特別是對穩定幣監管提出了明確的要求。儘管一些加密貨幣公司表示尚未做好充分準備，但在日益嚴格的合規要求下，歐洲穩定幣市場的競爭勢必會加劇。

For instance, the unlicensed Tether has already invested in the Dutch company Quantoz and the European stablecoin provider StablR.

例如，未經許可的 Tether 已經投資了荷蘭公司 Quantoz 和歐洲穩定幣提供商 StablR。

Additionally, the UK's Financial Conduct Authority (FCA) has expressed its intention to launch a comprehensive regulatory framework for cryptocurrencies by 2026. A study commissioned by the FCA showed that the holding of crypto assets has grown by 4% over the past two years, with approximately 7 million adults holding crypto assets among the country's roughly 68 million population.

此外，英國金融行為監理局（FCA）已表示打算在2026 年之前推出針對加密貨幣的全面監管框架。其中該國約 6,800 萬人口中約有 700 萬成年人持有加密資產。

On December 21, the German parliament passed the Financial Market Digitalization Act, which is necessary for the full implementation of the MiCA regulation.

12月21日，德國議會通過了《金融市場數位化法案》，這是全面實施MiCA監管所必需的。

In Hong Kong, four new Virtual Asset Trading Platform (VATP) licenses were granted on December 18, promoting the development of stablecoins in the region.

在香港，12 月 18 日頒發了四張新的虛擬資產交易平台（VATP）牌照，促進了該地區穩定幣的發展。

These licenses were awarded to Cloud Account Greater Bay Area Technology (Hong Kong), DFX Labs, Hong Kong Digital Asset Trading Group, and Thousand Whales Technology, following the earlier approval of OSL Exchange, HashKey Exchange, and HKVAX.

繼 OSL Exchange、HashKey Exchange 和 HKVAX 早前獲得批准後，這些牌照已授予雲端帳戶大灣區科技（香港）、DFX Labs、香港數位資產交易集團和千鯨科技。

With the addition of these new members, the VATP system in Hong Kong now has eight licensed platforms, facilitating the compliant operation of crypto asset service providers and the stablecoin market development.

隨著這些新成員的加入，香港VATP體系現已擁有8個持牌平台，有利於加密資產服務提供者的合規營運和穩定幣市場的發展。

On December 6, the Hong Kong government also announced the introduction of a stablecoin bill, which will serve as the foundation for the comprehensive regulation of fiat-backed stablecoins (FRSs) in the territory.

12月6日，香港政府也宣布推出穩定幣法案，該法案將作為香港法幣支持的穩定幣（FRS）全面監管的基礎。

This bill aims to establish a legal framework for the issuance, trading, and redemption of FRSs,

該法案旨在建立FRS發行、交易和贖回的法律框架，