加密货币，国会和法案：2025年在监管景观中浏览

查看国会加密立法，主要参与者的最新发展以及对数字资产未来的潜在影响。

The intersection of crypto, Congress, and new bills is heating up, with significant implications for the digital asset space. Industry leaders are split on the best path forward, and here's the lowdown on what's happening.

加密，国会和新法案的交集正在加热，对数字资产空间产生了重大影响。行业领导者处于最佳前进道路上，这是正在发生的事情的最低水平。

The Battle of the Bills: Clarity vs. Senate's Approach

法案之战：清晰与参议院的方法

Two major pieces of legislation are vying for dominance: the House's Digital Asset Market Clarity (CLARITY) Act of 2025 and the Senate's yet-to-be-finalized market structure bill. The House bill has already passed, aiming to create a regulatory framework that fosters growth and protects consumers. The Senate, meanwhile, is drafting its own version, focusing on a comprehensive set of rules.

两项主要立法正在争夺统治地位：众议院的数字资产市场清晰度（Clarity）2025年和参议院尚未按预定的市场结构法案。众议院法案已经通过，旨在创建一个促进增长并保护消费者的监管框架。同时，参议院正在起草自己的版本，重点介绍一系列全面的规则。

Paradigm, along with several other VC firms, is backing the Senate's approach. They argue it's simpler and avoids forcing decentralized tokens into an inflexible framework. Dan Robinson of Paradigm highlights the Senate's focus on "ancillary assets," distinguishing typical crypto assets from securities.

范式与其他几家风投公司一起支持参议院的方法。他们认为这更简单，并避免强迫分散代币进入僵化的框架。范式的丹·罗宾逊（Dan Robinson）强调了参议院对“辅助资产”的关注，将典型的加密资产与证券区分开来。

However, not everyone agrees. a16z crypto, for example, supports the CLARITY Act's token maturity framework. Miles Jennings from a16z crypto argues that undermining CLARITY's transfer restriction framework could incentivize circumventing decentralization.

但是，并不是每个人都同意。例如，A16Z加密支持Clarity Act的代币成熟框架。来自A16Z加密货币的Miles Jennings认为，破坏Clarity的转移限制框架可能会激励避免权力下放。

Key Points of Contention

争论点

• Decentralization: The House bill emphasizes a "robust, control-based decentralization test," while the Senate's approach is seen by some as a "race to the bottom."
• Regulatory Clarity: Both bills aim to provide clarity, but the debate centers on which approach is more effective and less burdensome.
• Investor Protection: Ensuring adequate protection for retail investors is a priority, but opinions differ on how to achieve this without stifling innovation.

A Strategic Bitcoin Reserve?

战略比特币储备？

In a bold move, Congressional Republicans have introduced the BITCOIN Act of 2025. This bill proposes establishing a Strategic Bitcoin Reserve by revaluing decades-old gold certificates held by the Federal Reserve. The idea is to unlock billions in unrealized government assets to fund Bitcoin purchases.

国会共和党人大胆地提出了2025年的《比特币法》。该法案提议通过重新估算美联储持有的数十年的金证书来建立战略性比特币储备。这个想法是在未实现的政府资产中释放数十亿美元的资金来购买比特币。

Sen. Cynthia Lummis and Rep. Nick Begich are spearheading the effort, which would require the Federal Reserve to surrender all outstanding gold certificates to the Treasury Department. The Treasury would then reissue certificates reflecting current market prices.

参议员辛西娅·卢米斯（Cynthia Lummis）和众议员尼克·贝吉奇（Nick Begich）率先付出了巨大的努力，这将要求美联储向财政部投降所有未偿还的金证书。然后，财政部将重新发行反映当前市场价格的证书。

With gold trading significantly higher than the official $42.22 per ounce rate, the revaluation could generate substantial funds. The legislation proposes using these proceeds to purchase up to 1 million Bitcoin over five years.

由于黄金交易的高度高于官方每盎司42.22美元的官方，因此重估可能会产生大量资金。该立法建议使用这些收益在五年内购买多达100万比特币。

While supporters argue Bitcoin could offer protection against economic uncertainty, critics worry about potential dollar debasement. The legislation faces an uncertain path in Congress.

尽管支持者认为比特币可以提供防止经济不确定性的保护，但批评者担心潜在的美元贬值。该立法面临国会不确定的道路。

Market Reactions and Other News

市场反应和其他新闻

The crypto market continues to evolve rapidly. Recently, FLOKI surged after its debut on Robinhood, entering the billion-dollar club. The global cryptocurrency market cap stands at $3.95 trillion, showing a 3.1% increase in 24 hours. Bitcoin leads with 59% dominance, followed by Ethereum at 11.9%.

加密市场继续迅速发展。最近，弗洛基（Floki）在罗比林（Robinhood）首次亮相后猛增，进入了十亿美元的俱乐部。全球加密货币市值为3.95万亿美元，在24小时内增长了3.1％。比特币以59％的优势领先，其次是以太坊，为11.9％。

In other news, India is cracking down on crypto tax evasion, and President Trump has imposed new tariffs affecting various sectors.

在其他新闻中，印度正在打击加密税收逃税，特朗普总统对影响各个部门的新关税征收。

Final Thoughts

最后的想法

The regulatory landscape for crypto is far from settled. With competing bills in Congress and ongoing debates about the role of digital assets, the future remains uncertain. One thing is clear: the intersection of crypto, Congress, and legislation will continue to be a major focal point for the industry.

加密货币的监管景观远未解决。随着国会中的竞争法案和关于数字资产作用的持续辩论，未来仍然不确定。一件事很清楚：加密，国会和立法的交集将继续是该行业的主要焦点。

It's a wild ride, isn't it? Buckle up, because the world of crypto is never boring!

这是一次疯狂的旅程，不是吗？系好，因为加密世界永远不会无聊！