Peirce向后推：SEC的方法“必须纠正”

赫斯特·皮尔斯（Hester Peirce）被某些人亲切地称为“加密妈妈”，周一在监管机构的“ SEC Speaks”活动中开始演讲，并有意

Monday saw the U.S. Securities and Exchange Commission (SEC) host an event titled "SEC Speaks" in Washington D.C., where Commissioner Hester Peirce, fondly nicknamed "Crypto Mom" by some, delivered a statement that diverged significantly from the former chairman's stance on crypto regulation.

周一，美国证券交易委员会（SEC）举办了一项题为“ SEC Speaks”的活动，其中一些人被某些人昵称为“ Crypto Mom”的专员，发表了一份声明，该声明与前主席对Crypto法规的立场大有不同。

The SEC's New Direction: A Tale of Two Chairmen

SEC的新方向：两个主席的故事

As reported by BTCVisas, Peirce commenced her speech with a deliberately selected history lesson on the American Revolution, setting the stage for a perspective that would contrast sharply with that of her previous boss, former SEC Chairman Gary Gensler. Unlike Gensler, who focused on regulation by enforcement, Peirce recognized the potential of crypto early on, proposing a safe harbor approach to regulating decentralized assets as early as 2020.

正如BTCVISAS报道的那样，Peirce通过有意选择的有关美国革命的历史课开始了演讲，这为观点奠定了基础，与她以前的老板前SEC主席Gary Gensler的观点形成鲜明对比。与加斯勒（Gensler）专注于执法的监管，皮尔斯（Peirce）早期就意识到了加密货币的潜力，他提出了一种安全港的方法，以便早在2020年就对分散资产进行调节。

"I proposed a limited safe harbor from the registration provisions of the securities laws for decentralized networks and their native tokens in February 2020, an idea that I further developed in March 2021," Peirce explained.

Peirce解释说：“我提出了一个有限的安全港，该安全港是在2020年2月的分散网络及其本地令牌的证券法的注册规定中提出的，这一想法是我在2021年3月进一步发展的。”

This proposal, which was met with mixed reactions, aimed to create a framework for classifying and regulating crypto assets in a rapidly evolving industry.

该提案遇到了混杂的反应，旨在创建一个框架，用于在快速发展的行业中对加密资产进行分类和规范。

"The proposal would create a grace period during which a network's token, issued prior to the launch of the network for the purpose of funding development of the said network, would be subject to securities laws," she elaborated. "After the launch of the network, the token would no longer be classified as a security and would be subject to a pre-determined time period during which it could trade on secondary markets without being subject to securities laws."

她阐述说：“该提案将创建一个宽限期，在此期间，网络在启动网络之前发行的网络的代币是为了资助上述网络的目的，将受到证券法的约束。” “网络启动后，代币将不再被归类为安全性，并且会遵守预定的时间段，在此期间，它可以在二级市场上进行交易而无需遵守证券法。”

However, Peirce's suggestions were largely disregarded by Gensler, who instead opted for a regulation by enforcement strategy. This approach ultimately led to the decimation of the industry and transformed the SEC into the primary adversary of crypto.

但是，皮尔斯（Peirce）的建议在很大程度上被Gensler忽略了，而Gensler则选择了执法策略的监管。这种方法最终导致了该行业的破产，并将SEC转变为加密的主要对手。

Speaking at the SEC Speaks event on Monday, Peirce expressed her disagreement with the former chairman's view on the security status of crypto assets. Gensler had previously stated his belief that, "Of the nearly 10,000 tokens in the crypto market, I believe the vast majority are securities," at the 2022 installment of SEC Speaks.

皮尔斯（Peirce）在周一的SEC演讲活动上发表讲话，对前董事长对加密资产的安全状况的看法表示分歧。 Gensler此前曾表示，他的信念是，“在加密货币市场中近10,000个令牌中，我相信绝大多数是证券”，在2022年的SEC分期付款中。

But with the newly appointed Chairman Paul Atkins now by her side, Peirce recounted the story of Samuel Whittemore, a hero of the eighteenth-century American Revolution, before tying it to her own revolutionary perspective. Unlike Gensler, Peirce believes that most crypto assets are not securities.

但是，随着新任命的董事长保罗·阿特金斯（Paul Atkins）现在在她的身边，佩尔斯讲述了18世纪美国革命的英雄塞缪尔·惠特莫尔（Samuel Whittemore）的故事，然后将其与她自己的革命观点联系在一起。与Gensler不同，Peirce认为大多数加密资产不是证券。

"The most popular topic of discussion by far in written input and industry meetings has been security status," Peirce pointed out. "My short answer to the question, ‘Are crypto assets securities,’ is that most currently existing crypto assets in the market are not."

皮尔斯指出：“迄今为止，在书面输入和行业会议上讨论的最流行的话题是安全状况。” “我对这个问题的简短回答是'加密资产证券，'是市场中当前现有的加密资产不是。”

During her speech, Peirce went on to discuss many nuanced legal points, stressing the importance of economic realities and explaining that "the line demarcating transactions covered by the securities laws from those that are not, is still hazy."

在演讲中，皮尔斯继续讨论了许多细微的法律观点，强调了经济现实的重要性，并解释说：“划定没有证券法涵盖的交易的线路仍然是朦胧的。”

Pledge for Regulatory Clarity

保证法规清晰度

In the closing remarks of her speech, Peirce touched upon the SEC's role in providing regulatory clarity.

在她的演讲的结束评论中，皮尔斯谈到了SEC在提供监管清晰度方面的作用。

"As the SEC embarks on this new journey, we will, of course, continue to perform our traditional functions, such as policing the market for fraud and ensuring that those who sell securities, such as equity crowdfunding issuers, comply with the registration requirements and disclosure regime," she added.

她补充说：“当SEC踏上这一新旅程时，我们当然将继续执行我们的传统职能，例如为欺诈市场进行监管，并确保出售证券的人，例如股权众筹发行人，符合注册要求和披露制度。”

But by far, the most consequential of her statements was her take on the security status of crypto assets. The commissioner then ended her speech with a final reference to Whittemore.

但是到目前为止，她的陈述最大的结果是她对加密资产的安全状况。然后，专员以最终提及惠特莫尔（Whittemore）结束了演讲。

"Two hundred and fifty years after Samuel Whittemore made his stand behind the stone wall, I stand here today grateful for the freedom for which he fought," Peirce concluded. "I hope that all of us can look up from the minutiae of the securities laws for a moment to celebrate a quarter of a millennium’s fight for freedom."

皮尔斯总结说：“在塞缪尔·惠特莫尔（Samuel Whittemore）在石墙后面的立场上，我今天在这里对他所战斗的自由表示感谢。” “我希望我们所有人都可以从《证券法》的细节中抬起头来，庆祝千年的四分之一为争取自由而战。”