SEC 拒绝 Coinbase 对加密货币特定监管规则的请求

美国证券交易委员会 (SEC) 对 Coinbase 的加密货币行业规则制定请愿书提出了反动议。美国证券交易委员会认为，除了现有的美国证券法之外，没有必要为加密资产建立新的监管框架，并且其针对加密相关业务的执法行动验证了现行法规的有效性。

SEC Rejects Coinbase's Petition for Crypto-Specific Regulatory Framework

SEC 拒绝 Coinbase 对加密货币特定监管框架的请愿

Washington, D.C., May 12, 2022 - The United States Securities and Exchange Commission (SEC) has filed a motion in opposition to Coinbase's petition for rulemaking to create a new regulatory framework for cryptocurrency assets. In its brief, submitted to the US Court of Appeals for the Third Circuit on May 10, the SEC argues that existing securities laws provide an adequate foundation for regulating crypto markets, and that there is no need for a separate set of rules.

华盛顿特区，2022 年 5 月 12 日 - 美国证券交易委员会 (SEC) 已提交动议，反对 Coinbase 为加密货币资产创建新监管框架的规则制定请愿书。 SEC 在 5 月 10 日提交给美国第三巡回上诉法院的简报中认为，现有证券法为监管加密货币市场提供了充分的基础，不需要制定一套单独的规则。

Coinbase's Petition and SEC's Denial

Coinbase 的请愿书和 SEC 的拒绝

In July 2021, Coinbase, a leading cryptocurrency exchange, filed a petition with the SEC, requesting the agency to initiate a rulemaking process to establish a comprehensive regulatory framework for the use and operation of cryptocurrencies. The SEC denied this request in September 2021, citing the applicability of existing securities laws to crypto assets.

2021 年 7 月，领先的加密货币交易所 Coinbase 向 SEC 提交请愿书，要求该机构启动规则制定流程，为加密货币的使用和运营建立全面的监管框架。 SEC 于 2021 年 9 月拒绝了这一请求，理由是现有证券法适用于加密资产。

Coinbase's Appeal and SEC's Countermotion

Coinbase的上诉和SEC的反动

In response to the SEC's denial, Coinbase filed a petition for review with the US Third Court of Appeals in October 2021. The petition asked the court to order the SEC to undertake the rulemaking process as requested.

针对 SEC 的否认，Coinbase 于 2021 年 10 月向美国第三上诉法院提交了复审请愿书。请愿书要求法院命令 SEC 按要求进行规则制定程序。

The SEC's motion in opposition argues that the existing legal framework is sufficient to address the regulatory challenges posed by crypto assets, and that a new rulemaking process is unnecessary. The agency asserts that it has consistently applied the principles of securities regulation to crypto markets and has not asserted any new or expanded authority.

SEC 的反对动议认为，现有的法律框架足以解决加密资产带来的监管挑战，并且没有必要制定新的规则制定流程。该机构声称，它一直将证券监管原则应用于加密货币市场，并且没有主张任何新的或扩大的权力。

SEC's Arguments

美国证券交易委员会的论点

In its brief, the SEC outlines several arguments in support of its position:

SEC 在其简报中概述了支持其立场的几个论点：

• Existing Securities Laws Provide Adequate Framework: The SEC contends that existing securities laws provide a comprehensive and flexible framework for regulating crypto assets. The agency has extensive experience applying these laws to a wide range of financial instruments, including traditional securities, digital assets, and hybrid instruments.
• No Need for New Authority: The SEC argues that it has never changed its position on its authority to regulate crypto assets. The agency maintains that its application of securities laws to crypto markets does not constitute a "sweeping new authority."
• Enforcement Actions Validate Existing Laws: The SEC points to its enforcement actions against crypto-related businesses as evidence of the effectiveness of existing securities laws. The agency has pursued cases involving unregistered offerings, manipulation, and fraud, demonstrating its ability to address misconduct in the crypto market.

Rebuttal of Coinbase's Claims

现有证券法提供了充分的框架：美国证券交易委员会认为，现有证券法为监管加密资产提供了全面且灵活的框架。该机构在将这些法律应用于各种金融工具（包括传统证券、数字资产和混合工具）方面拥有丰富的经验。 不需要新的权力：SEC 辩称，它从未改变过其监管加密资产的权力立场。该机构坚称，其将证券法应用于加密货币市场并不构成“全面的新权威”。 执法行动验证现有法律：美国证券交易委员会指出，其针对加密货币相关业务的执法行动是现有证券法有效性的证据。该机构已追查涉及未注册产品、操纵和欺诈的案件，展示了其解决加密市场不当行为的能力。 Coinbase 索赔的反驳

The SEC also rebuts Coinbase's claims that it failed to provide a "reasonable explanation" for denying the rulemaking petition. The agency states that it provided a "brief statement" to Coinbase explaining the basis for its decision, which was consistent with the SEC's longstanding position on crypto assets.

SEC 还反驳了 Coinbase 的说法，即它未能为拒绝规则制定请愿书提供“合理解释”。该机构表示，它向 Coinbase 提供了一份“简短声明”，解释了其决定的依据，这与 SEC 对加密资产的长期立场是一致的。

Crypto Market Overview

加密货币市场概览

In addition to the SEC's motion, the cryptocurrency market has experienced a slight uptick in value in the past 24 hours. The total market capitalization has increased by 0.19%, bringing it to $2.25 trillion. Most major cryptocurrencies have posted modest gains, with Solana (SOL) and Binance Coin (BNB) leading the way with increases of around 1%. Bitcoin, the largest cryptocurrency by market capitalization, continues to trade above the $60,000 mark, despite a recent dip.

除了 SEC 的动议之外，加密货币市场的价值在过去 24 小时内还出现了小幅上涨。总市值增长0.19%，达到2.25万亿美元。大多数主要加密货币均出现小幅上涨，其中 Solana (SOL) 和 Binance Coin (BNB) 涨幅领先，涨幅约为 1%。比特币是市值最大的加密货币，尽管最近有所下跌，但其交易价格仍继续高于 60,000 美元大关。

Conclusion

结论

The SEC's motion in opposition to Coinbase's petition underscores the agency's stance that existing securities laws provide a sufficient regulatory framework for crypto assets. The agency maintains that there is no need for a new rulemaking process, and that it will continue to apply the principles of securities regulation to the crypto market. This development could have implications for the future of crypto regulation in the United States.

美国证券交易委员会反对 Coinbase 请愿书的动议强调了该机构的立场，即现有证券法为加密资产提供了充分的监管框架。该机构认为，不需要新的规则制定程序，并将继续将证券监管原则应用于加密货币市场。这一发展可能会对美国加密货币监管的未来产生影响。