美國參議員根據加密貨幣法案建立數位資產分類

在美國，參議員 Gillibrand 和 Lummis 最近討論了一項加密法案，該法案將 BTC 和 ETH 歸類為商品，其他加密資產可能被歸類為證券。 SEC 和 CFTC 就這一分類達成一致，SEC 負責監管市場，CFTC 負責監管大多數加密資產，包括 BTC 和 ETH。

Cryptocurrency Regulation in the United States: Senators Define Digital Asset Classifications

美國的加密貨幣監管：參議員定義數位資產分類

Washington, D.C. – June 9, 2022 – Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY), key architects of the comprehensive cryptocurrency bill currently under consideration in the United States Senate, have outlined the framework for classifying digital assets as either commodities or securities.

華盛頓特區 – 2022 年 6 月 9 日 – 美國參議院目前正在審議的綜合加密貨幣法案的主要架構師參議員 Kirsten Gillibrand（紐約州民主黨）和 Cynthia Lummis（懷俄明州共和黨）概述了數字資產分類框架作為商品或證券。

In a joint interview with The Washington Post Live on Thursday, the senators provided insights into the bill's provisions, which aim to provide regulatory clarity for the rapidly evolving cryptocurrency market.

在周四接受《華盛頓郵報現場》聯合採訪時，參議員們對該法案的條款進行了深入的見解，該法案的目的是為快速發展的加密貨幣市場提供明確的監管。

Commodities vs. Securities

商品與證券

The bill classifies the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), as commodities, a designation supported by the chairpersons of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading and Contracts Commission (CFTC).

該法案將比特幣（BTC）和以太坊（ETH）這兩個最大的加密貨幣歸類為商品，這一名稱得到了美國證券交易委員會（SEC）和商品期貨交易和合約委員會（CFTC）主席的支持。

Senator Gillibrand explained that the classification of BTC and ETH as commodities stems from their primary function as mediums of exchange and stores of value, similar to traditional commodities like gold and silver.

參議員吉利布蘭德解釋說，將 BTC 和 ETH 歸類為商品源自於它們作為交換媒介和價值儲存的主要功能，類似於黃金和白銀等傳統商品。

In contrast, Senator Lummis believes that the majority of other crypto assets fall under the definition of securities. Securities are defined under the "Howey Test," developed in the 1930s, and typically involve investments in which individuals expect profits primarily from the efforts of others.

相較之下，參議員 Lummis 認為大多數其他加密資產都屬於證券的定義。證券是根據 20 世紀 30 年代製定的「Howey 測試」進行定義的，通常涉及個人期望主要從他人的努力中獲得利潤的投資。

Additional Assets

額外資產

The senators also acknowledged the existence of "additional assets" that do not fit neatly into the commodity or security categories. These include non-fungible token (NFT) digital art and assets that lack either a clear store of value or medium of exchange function.

參議員們也承認存在不完全符合商品或證券類別的「額外資產」。其中包括不可替代的代幣（NFT）數位藝術品和缺乏明確的價值儲存或交換媒介功能的資產。

Regulatory Oversight

監理監督

The proposed bill empowers both the SEC and the CFTC to regulate the cryptocurrency market. The SEC will primarily oversee the securities sector, while the CFTC will have jurisdiction over the larger group of crypto assets classified as commodities.

擬議的法案授權 SEC 和 CFTC 監管加密貨幣市場。美國證券交易委員會將主要監管證券業，而商品期貨交易委員會將對歸類為商品的更大範圍的加密資產擁有管轄權。

Statement from Senator Gillibrand

吉利布蘭德參議員的聲明

"For those who appreciate the unique properties of Bitcoin, like its Proof-of-Work or Proof-of-Stake mechanisms, your token is most likely a commodity," said Senator Gillibrand. "This classification was agreed upon not only with Chairman Gensler of the SEC but also with the chairman of the CFTC."

「對於那些欣賞比特幣獨特屬性的人來說，例如它的工作證明或權益證明機制，你的代幣很可能是一種商品，」參議員吉利布蘭德說。 “這一分類不僅得到了 SEC 主席 Gensler 的同意，也得到了 CFTC 主席的同意。”

Significance of the Bill

條例草案的意義

The senators emphasized the urgent need for clear regulatory guidelines in the cryptocurrency market, citing concerns over potential risks to investors, market stability, and national security. The bill, if passed, would provide a comprehensive framework for regulating digital asset transactions, protecting consumers, and fostering innovation in the industry.

參議員強調，加密貨幣市場迫切需要製定明確的監管指南，理由是對投資者、市場穩定和國家安全的潛在風險的擔憂。該法案如果獲得通過，將為監管數位資產交易、保護消費者和促進行業創新提供全面的框架。

Next Steps

下一步

The cryptocurrency bill is currently under consideration in the Senate Banking, Housing, and Urban Affairs Committee. It is expected to face further debate and amendment before a final version is put to a vote by the full Senate. The passage of the bill would represent a significant step towards regulating the rapidly growing cryptocurrency market in the United States.

參議院銀行、住房和城市事務委員會目前正在審議加密貨幣法案。在最終版本提交參議院全體投票之前，預計將面臨進一步的辯論和修改。該法案的通過將代表著朝著監管美國快速成長的加密貨幣市場邁出的重要一步。