SEC 的 Gensler：加密货币不太可能成为货币

据报道，SEC 主席加里·詹斯勒 (Gary Gensler) 对比特币 (BTC) 或其他加密货币被广泛接受作为常见支付方式的可能性表示怀疑。

United States Securities and Exchange Commission (SEC) Chair Gary Gensler expressed skepticism about the prospect of Bitcoin (BTC) or other cryptocurrencies becoming a common payment method, suggesting instead that they may be more likely to be viewed as a store of value.

美国证券交易委员会 (SEC) 主席加里·詹斯勒 (Gary Gensler) 对比特币 (BTC) 或其他加密货币成为常见支付方式的前景表示怀疑，并表示它们可能更有可能被视为一种价值储存手段。

During an event at NYU School of Law in Manhattan on Thursday, Gensler addressed a question about the role of cryptocurrencies, which were initially designed to operate outside of government control.

周四在曼哈顿纽约大学法学院举行的一次活动中，詹斯勒谈到了有关加密货币作用的问题，加密货币最初被设计为在政府控制之外运作。

However, he emphasized that their potential value to users would be shaped by how they fit into regulatory frameworks.

然而，他强调，它们对用户的潜在价值将取决于它们如何融入监管框架。

“Their value to users will depend on how they're useful in these regulatory frameworks,” Gensler said.

“它们对用户的价值将取决于它们在这些监管框架中的作用，”Gensler 说。

The SEC chair added that the Commission itself takes a neutral stance, leaving it up to investors to decide on the utility of any cryptocurrency through proper disclosures.

SEC 主席补充说，委员会本身采取中立立场，让投资者通过适当的披露来决定任何加密货币的效用。

“I taught this subject at MIT, so I can say this – these discussions go back thousands of years, to philosophers like Plato and Aristotle,” Gensler said.

“我在麻省理工学院教授这门课程，所以我可以这样说——这些讨论可以追溯到几千年前，对于柏拉图和亚里士多德这样的哲学家来说，”詹斯勒说。

“And you know, throughout the history of the world's nation-states, they've generally settled on one currency for their economies, not multiple currencies or what's called bimetallism.”

“你知道，纵观世界民族国家的历史，他们的经济通常选择一种货币，而不是多种货币或所谓的复本位制。”

Referencing Gresham's law, a 19th-century economic principle stating that 'bad money drives out the good,' Gensler highlighted that most countries prefer to have just one currency.

詹斯勒引用了 19 世纪的一项经济原则格雷欣定律，指出“劣币驱逐良币”，强调大多数国家更愿意只拥有一种货币。

He explained that this is because a single currency acts as a store of value, a medium of exchange, and a unit of account, all of which benefit from network economics.

他解释说，这是因为单一货币充当价值储存、交换媒介和记账单位，所有这些都受益于网络经济。

“It's unlikely for these cryptocurrencies to become mainstream currencies,” Gensler suggested.

“这些加密货币不太可能成为主流货币，”Gensler 表示。

“Their value will need to be proven through practical use and transparent disclosures — similar to how investors choose from thousands of securities on the stock exchange.”

“它们的价值需要通过实际使用和透明的披露来证明——类似于投资者从证券交易所的数千种证券中进行选择的方式。”

During an extensive discussion with NYU Law Professor Robert Jackson, Gensler stood by the agency’s strong stance on enforcing regulations in the cryptocurrency space.

在与纽约大学法学教授罗伯特·杰克逊的广泛讨论中，Gensler 坚持该机构在加密货币领域执行监管的强硬立场。

“Without a regulator actively overseeing, would all our laws be upheld?” Gensler asked.

“如果没有监管机构积极监督，我们所有的法律都会得到遵守吗？”詹斯勒问道。

“It's part of human nature, especially in finance, to push the limits. Sometimes, we have to step in with enforcement actions to steer people back within the boundaries.”

“挑战极限是人性的一部分，尤其是在金融领域。有时，我们必须采取执法行动来引导人们回到界限内。”

Gensler went on to criticize the crypto industry for being filled with “fraudsters, grifters, and scams,” and noted, “In 2024, many of the leading figures in this space are either behind bars or awaiting extradition.”

Gensler 继续批评加密行业充满了“欺诈者、骗子和骗局”，并指出，“到 2024 年，这个领域的许多领军人物要么入狱，要么等待引渡。”

He also argued that there’s no need for new regulatory frameworks beyond the existing Howey Test, established by the Supreme Court in 1940, which defines what constitutes an investment contract.

他还认为，除了最高法院于 1940 年制定的现有豪伊测试（Howey Test）之外，没有必要制定新的监管框架，该测试定义了投资合同的构成。

“If you're wondering if your crypto project passes this well-established test, just ask yourself: Who's signing the engagement letter with your law firm?” Gensler said.

“如果您想知道您的加密项目是否通过了这项完善的测试，只需问问自己：谁与您的律师事务所签署了订婚书？”詹斯勒说道。

“There's always a central entity behind these operations. It defies logic to think there's no common enterprise involved.”

“这些操作背后总是有一个中心实体。认为没有共同企业参与其中的想法是不符合逻辑的。”

When asked how the upcoming presidential election might affect the SEC, or if he would remain in his role if former President Trump were re-elected, Gensler declined to comment.

当被问及即将到来的总统选举可能会对美国证券交易委员会产生什么影响，或者如果前总统特朗普连任他是否会继续留任时，金斯勒拒绝发表评论。