美國穩定幣監管提案分裂加密貨幣產業並引發激烈爭論

美國旨在監管穩定幣的新法案草案的推出引發了加密貨幣領域的爭議。該法案旨在使公共鏈上的穩定幣合法化，特別是以太坊，但引發了人們對其對去中心化穩定幣的潛在影響及其對非託管選項的所謂反競爭立場的擔憂。

US Stablecoin Regulation Proposal Sparks Fierce Debate Within Cryptocurrency Sector

美國穩定幣監管提案引發加密貨幣產業激烈爭論

The introduction of a new draft bill in the United States aimed at regulating stablecoins has ignited a polarizing debate within the cryptocurrency industry, with experts expressing both optimism and apprehension about its potential impact.

美國推出了一項旨在監管穩定幣的新法案草案，引發了加密貨幣產業內的兩極化爭論，專家們對其潛在影響表達了樂觀和擔憂。

Ethereum Enthusiasts See Opportunity

以太坊愛好者看到了機會

Ryan Berckmans, a prominent figure in the Ethereum community and an experienced investor, has hailed the draft bill as "extremely bullish" for Ethereum. In a statement shared on social media, he emphasized the bill's recognition of stablecoins on public chains, particularly Ethereum, where the majority of stablecoins are currently issued.

以太坊社區的知名人物和經驗豐富的投資者 Ryan Berckmans 稱讚該法案草案對以太坊「極其樂觀」。在社群媒體上分享的聲明中，他強調該法案對公鏈上的穩定幣的認可，特別是以太坊，目前大多數穩定幣都是在以太坊上發行的。

Berckmans believes the bill legitimizes stablecoins, which could lead to increased adoption and integration into the financial mainstream. He also highlights the bill's provision allowing US banks to obtain stablecoin licenses and private companies to issue up to $10 billion in stablecoins without a license. This, he argues, could transform the banking sector's approach to digital currencies and broaden their usage across various economic activities.

伯克曼斯認為該法案使穩定幣合法化，這可能會導致穩定幣的採用和融入金融主流的增加。他還強調了該法案的條款，允許美國銀行獲得穩定幣許可證，允許私人公司在沒有許可證的情況下發行最多 100 億美元的穩定幣。他認為，這可能會改變銀行業對數位貨幣的態度，並擴大在各種經濟活動中的使用。

Additionally, Berckmans views the bill as positive for assets not pegged to the US dollar, such as on-chain euros and gold, as it does not impose regulatory measures on these assets. This, he suggests, could foster a free and globalized market for such assets and enhance their appeal as alternative reserve currencies or investment options.

此外，伯克曼斯認為該法案對不與美元掛鉤的資產（例如鏈上歐元和黃金）有利，因為它沒有對這些資產施加監管措施。他認為，這可以為此類資產培養一個自由和全球化的市場，並增強它們作為替代儲備貨幣或投資選擇的吸引力。

Concerns and Criticisms

擔憂和批評

However, not all experts share Berckmans' optimism. Jake Chervinsky, Chief Legal Officer at Variant Fund and former CLO of the Blockchain Association, expressed significant concerns about the draft bill. In a statement released on social media, Chervinsky argued that the bill appears to "ban nearly everything except a narrow band of centralized, custodial stablecoins."

然而，並非所有專家都認同伯克曼斯的樂觀態度。 Variant Fund 法務長、區塊鏈協會前 CLO Jake Chervinsky 對法案草案表示嚴重擔憂。切爾文斯基在社群媒體上發布的聲明中表示，該法案似乎「禁止了幾乎所有東西，除了一小部分中心化的託管穩定幣」。

Chervinsky contends that the focus should be on promoting custodial stablecoins, which he believes are more secure and compliant with regulatory standards. However, the draft bill, in his view, creates regulatory barriers that could stifle innovation in the stablecoin space.

切爾文斯基認為，重點應該放在推廣託管穩定幣上，他認為這種穩定幣更安全且符合監管標準。然而，他認為該法案草案設置了監管障礙，可能扼殺穩定幣領域的創新。

Chervinsky also pointed out that the bill's definition of "algorithmic payment stablecoin" is overly broad, potentially encompassing a range of decentralized stablecoins that use algorithms to maintain their peg to the dollar or other assets. He expressed concern that this could hinder the development and adoption of innovative stablecoin designs.

切爾文斯基也指出，該法案對「演算法支付穩定幣」的定義過於寬泛，可能涵蓋一系列使用演算法來維持與美元或其他資產掛鉤的去中心化穩定幣。他擔心這可能會阻礙創新穩定幣設計的開發和採用。

Market Implications

市場影響

Despite the divergent perspectives, Berckmans remains optimistic about the broader impact of the bill. He suggests that the restrictions on USD-pegged stablecoins could inadvertently boost the market for non-USD stablecoins, fostering a more diverse and balanced stablecoin ecosystem.

儘管觀點存在分歧，伯克曼斯仍然對該法案的更廣泛影響持樂觀態度。他認為，與美元掛鉤的穩定幣的限制可能會無意中提振非美元穩定幣市場，從而培育更加多樣化和平衡的穩定幣生態系統。

Outlook for Stablecoin Regulation

穩定幣監管展望

As the cryptocurrency community continues to scrutinize and debate the draft bill, it is evident that the final version of the legislation will play a critical role in shaping the future of stablecoins and blockchain technology in the United States and potentially globally. The outcome of this legislative process will have significant implications for the crypto sector, financial markets, and the wider economy.

隨著加密貨幣社群繼續審查和辯論該法案草案，很明顯，該立法的最終版本將在塑造美國和全球穩定幣和區塊鏈技術的未來方面發揮關鍵作用。這個立法過程的結果將對加密貨幣產業、金融市場和更廣泛的經濟產生重大影響。