区块链协会敦促SEC停止将股票市场结构应用于加密货币行业

区块链协会敦促美国证券交易委员会（SEC）停止将股票市场结构应用于加密货币行业。

The Blockchain Association has urged the U.S. Securities and Exchange Commission (SEC) to stop applying equity market structures to the crypto industry.

区块链协会敦促美国证券交易委员会（SEC）停止将股票市场结构应用于加密货币行业。

In a formal response to SEC Commissioner Hester Peirce’s request for input on crypto trading practices, the association argued that current approaches are not suitable for the unique features of blockchain technology. The association’s letter, submitted on May 2, 2025, focuses primarily on topics related to trading, clearing, settlement, and custody in the digital asset space. The group represents a range of crypto firms, including Coinbase (NASDAQ:COIN), Ripple and Uniswap Labs.

在对SEC专员Hester Peirce对加密货币交易实践的要求的正式回应中，该协会认为，当前的方法不适合区块链技术的独特功能。该协会的信件于2025年5月2日提交，主要关注与数字资产领域的交易，清算，和解和监护相关的主题。该小组代表一系列加密公司，包括Coinbase（NASDAQ：COIN），Ripple和Uniswap Labs。

According to a recent thread on X, the Blockchain Association is calling on the SEC to adopt a more flexible and evolving regulatory approach for crypto assets. The existing structure was designed for the traditional equity markets, it says, and it doesn’t factor the decentralized and real time nature of blockchain based systems.

根据X上的最新线程，区块链协会呼吁SEC采用更灵活，不断发展的监管方法来进行加密资产。它说，现有的结构是为传统股票市场设计的，它并没有考虑基于区块链系统的分散和实时性质。

“The Association urged the Commission to refrain from adopting rules, policies, or guidance that would limit who can use blockchain technology or what the technology can be used for.”

“该协会敦促委员会避免采用规则，政策或指导，以限制谁可以使用区块链技术或可以使用技术的方法。”

The association, whose members include Circle, Coinbase, FTX.US, Huobi, and Uniswap Labs, is advising the SEC to consider the role of blockchain technology in an overarching economic and technological context. They also said that blockchain facilitates innovations like real time settlement, disintermediation and lower transaction costs.

该协会的成员包括Circle，Coinbase，FTX.US，Huobi和Uniswap Labs，建议SEC考虑区块链技术在总体经济和技术环境中的作用。他们还说，区块链有助于创新，例如实时和解，分解和降低交易成本。

Their letter suggests modernizing best execution standards by placing emphasis on the duty of reasonable diligence and increases in transparency. They instead advocate enhanced disclosure instead of imposing strict rules ordering protection as is the case in equities.

他们的信表明，通过重点关注合理勤奋和透明度提高的义务，使最佳执行标准现代化。相反，他们主张增强的披露，而不是像股票那样强加严格的规则订购保护。

The Blockchain Association also highlighted the importance of blockchain's open and verifiable data structure for enabling real-time monitoring by regulators. They suggest utilizing exchange APIs and publicly available data rather than collecting sensitive personal information from individuals.

区块链协会还强调了区块链开放和可验证的数据结构的重要性，以实现调节器的实时监视。他们建议利用Exchange API和公开可用的数据，而不是从个人那里收集敏感的个人信息。

However, the association acknowledged a "privacy risk" in their submission, referencing a June 2024 article by policy executive Marisa Tashman Coppel. They noted that collecting excessive personal data could backfire, potentially increasing its misuse against users.

但是，该协会在其提交中承认“隐私风险”，并提到了政策高管Marisa Tashman Coppel的一篇文章。他们指出，收集过多的个人数据可能适得其反，可能会增加对用户的滥用。

"The Commission should not assume that it needs to collect large amounts of personal data to achieve its regulatory objectives," part of the letter read.

信函中的一部分写道：“委员会不应假设它需要收集大量个人数据以实现其监管目标。”

In addition, the Blockchain Association further explained that blockchain's transparency permits regulators to track activity in real-time without intruding on user privacy. The association believes this offers a better path for regulatory compliance compared to traditional recordkeeping methods.

此外，区块链协会进一步解释说，区块链的透明度允许监管机构实时跟踪活动，而不会侵犯用户隐私。该协会认为，与传统的记录保存方法相比，这为监管合规性提供了更好的途径。

In their submission, the Blockchain Association criticized past SEC leadership for attempting to fit crypto markets into equity-based models. Under former SEC Chair Gary Gensler, the agency often treated most digital assets as securities and pursued strong enforcement actions against several major firms.

区块链协会在提交中，批评过去的SEC领导力试图将加密货币市场适合基于股票的模型。在前SEC主席Gary Gensler的领导下，该机构经常将大多数数字资产视为证券，并针对多家主要公司采取强有力的执法行动。

The association claims this approach failed to account for blockchain’s distinct features.

该协会声称，这种方法未能说明区块链的独特功能。

“The previous administration tried to mold crypto market structure along the lines of a stylized view of the equity markets, which does not take into account the unique characteristics of blockchain technology or the new paradigms in finance that it is driving.”

“以前的政府试图按照股票市场风格化的视图来塑造加密货币市场结构，这并未考虑区块链技术的独特特征或它正在驾驶的新金融范式的独特特征。”

The group now supports the direction of the current administration. Chair Paul Atkins, who replaced Gensler, has expressed support for working with lawmakers to build a crypto-friendly framework. Since taking over, Atkins and former acting Chair Mark Uyeda have launched a new crypto task force and hosted public roundtables to gather feedback.

该小组现在支持当前管理的方向。取代Gensler的Paul Atkins主席保罗·阿特金斯（Paul Atkins）表示支持与立法者合作建立一个友好的加密友好框架。自接手以来，阿特金斯（Atkins）和前代理主席马克·乌耶达（Mark Uyeda）发起了一个新的加密工作组，并主持了公共圆桌会议以收集反馈。

As the SEC is seen to be readjusting its strategy, other major crypto-related events have unfolded. This week, the agency closed its investigation into PayPal’s PYUSD stablecoin without any further enforcement action. The agency described its discussions with PayPal as productive.

由于SEC被认为正在调整其策略，因此其他主要的与加密相关的事件也展开了。本周，该机构关闭了对PayPal的Pyusd Stablecoin的调查，而无需采取任何进一步的执法措施。该机构将其与PayPal的讨论描述为富有成效。

In parallel, Ripple co-founder Chris Larsen is set to meet with SEC Chair Atkins. Although the agenda for their meeting wasn’t disclosed, analysts believe they may discuss the ongoing XRP lawsuit. Meanwhile, the SEC and Binance have jointly requested more time in their legal case, asking for a 60-day pause to pursue settlement talks.

Ripple联合创始人Chris Larsen并行与SEC Atkins会面。尽管未披露会议的议程，但分析师认为他们可能会讨论正在进行的XRP诉讼。同时，SEC和Binance在法律案件中共同要求更多时间，要求进行60天的停下来进行和解谈判。

Across the Atlantic, the UK’s Financial Conduct Authority is also collecting feedback from the public and the industry. The UK regulator is looking at how to best define and manage crypto-related services in national law. The aim is to bring more clarity to the fast-moving digital asset space.

在整个大西洋地区，英国的金融行为管理局也正在收集公众和行业的反馈。英国监管机构正在研究如何最好地定义和管理国家法律中与加密相关的服务。目的是为快速发展的数字资产空间带来更明确的清晰度。