SEC 在 2025 年审查重点中加强对加密货币的审查

美国证券交易委员会 (SEC) 本周发布了 2025 财年考试部门的“考试优先事项”。

The U.S. Securities and Exchange Commission (SEC) is ramping up its scrutiny of crypto assets in 2025, intensifying examinations of firms involved in offering, trading, and advising on these assets. The agency will focus on how these assets are handled as securities, ensuring compliance with standards and assessing technological risks tied to blockchain.

美国证券交易委员会 (SEC) 将于 2025 年加强对加密资产的审查，加强对涉及这些资产的发行、交易和咨询的公司的审查。该机构将重点关注如何将这些资产作为证券处理，确保符合标准并评估与区块链相关的技术风险。

The SEC’s Division of Examinations is closely monitoring firms involved in the offer and sale of crypto assets, with specific attention to how these assets are recommended, traded, and handled as securities. According to the Division, “The Division continues to observe the proliferation of investments involving crypto assets and their associated products and services.” The SEC further detailed:

美国证券交易委员会的考试部门正在密切监视参与加密资产发行和销售的公司，特别关注这些资产如何作为证券推荐、交易和处理。该部门表示，“该部门继续观察涉及加密资产及其相关产品和服务的投资激增。” SEC 进一步详细说明：

Given the volatility and activity involving the crypto asset markets, the Division will continue to monitor and, when appropriate, conduct examinations of registrants offering crypto asset-related services.

鉴于加密资产市场的波动性和活动，该部门将继续监控并在适当时对提供加密资产相关服务的注册人进行检查。

Examinations will concentrate on activities like the sale, trading, and advising of crypto assets, including widely known products such as bitcoin and ether exchange-traded offerings. The Division will assess whether firms adhere to their standards of conduct, particularly in dealing with retail investors, including those approaching retirement. Furthermore, firms are expected to routinely update their compliance frameworks, especially in areas related to crypto wallet management and custody practices. This includes ensuring their operations are resilient to disruptions and maintaining sound business continuity plans.

考试将集中于加密资产的销售、交易和咨询等活动，包括比特币和以太坊交易所交易产品等众所周知的产品。该部门将评估公司是否遵守其行为标准，特别是在与散户投资者（包括即将退休的散户投资者）打交道时。此外，公司应定期更新其合规框架，特别是在与加密钱包管理和托管实践相关的领域。这包括确保他们的运营能够抵御干扰并维持健全的业务连续性计划。

The SEC’s Division of Examinations is responsible for ensuring that firms regulated by the SEC, such as investment advisers, broker-dealers, and investment companies, comply with federal securities laws. Through its risk-based examination program, the Division identifies potential risks to investors and market integrity.

美国证券交易委员会的考试部负责确保受美国证券交易委员会监管的公司（例如投资顾问、经纪自营商和投资公司）遵守联邦证券法。通过基于风险的检查计划，该部门识别投资者和市场诚信的潜在风险。

The SEC is also emphasizing the technological risks inherent to the crypto space. Acknowledging the importance of secure technology, the Division stated:

美国证券交易委员会还强调加密货币领域固有的技术风险。该部门承认安全技术的重要性，表示：

The Division will assess registrant practices to address the technological risks associated with the use of blockchain and distributed ledger technology, including risks pertaining to the security of crypto assets.

该部门将评估注册人的做法，以解决与使用区块链和分布式账本技术相关的技术风险，包括与加密资产安全相关的风险。

This examination of blockchain risks underlines the SEC’s commitment to protecting investors by ensuring that the platforms and technologies underpinning crypto transactions are secure. The regulatory focus on crypto assets is part of the SEC’s broader effort to manage emerging financial technologies and safeguard investors in a volatile market. By prioritizing crypto-related services, the agency aims to enhance market integrity and investor protection.

此次对区块链风险的检查突显了 SEC 通过确保支持加密交易的平台和技术安全来保护投资者的承诺。对加密资产的监管重点是 SEC 管理新兴金融技术并在动荡的市场中保护投资者的更广泛努力的一部分。通过优先考虑加密相关服务，该机构旨在增强市场诚信和投资者保护。