美国参议员根据加密货币法案建立数字资产分类

在美国，参议员 Gillibrand 和 Lummis 最近讨论了一项加密法案，该法案将 BTC 和 ETH 归类为商品，其他加密资产可能被归类为证券。 SEC 和 CFTC 就这一分类达成一致，SEC 负责监管市场，CFTC 负责监管大多数加密资产，包括 BTC 和 ETH。

Cryptocurrency Regulation in the United States: Senators Define Digital Asset Classifications

美国的加密货币监管：参议员定义数字资产分类

Washington, D.C. – June 9, 2022 – Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY), key architects of the comprehensive cryptocurrency bill currently under consideration in the United States Senate, have outlined the framework for classifying digital assets as either commodities or securities.

华盛顿特区 – 2022 年 6 月 9 日 – 美国参议院目前正在审议的综合加密货币法案的主要架构师参议员 Kirsten Gillibrand（纽约州民主党）和 Cynthia Lummis（怀俄明州共和党）概述了数字资产分类框架作为商品或证券。

In a joint interview with The Washington Post Live on Thursday, the senators provided insights into the bill's provisions, which aim to provide regulatory clarity for the rapidly evolving cryptocurrency market.

在周四接受《华盛顿邮报现场》联合采访时，参议员们对该法案的条款进行了深入的见解，该法案的目的是为快速发展的加密货币市场提供明确的监管。

Commodities vs. Securities

商品与证券

The bill classifies the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), as commodities, a designation supported by the chairpersons of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading and Contracts Commission (CFTC).

该法案将比特币（BTC）和以太坊（ETH）这两种最大的加密货币归类为商品，这一名称得到了美国证券交易委员会（SEC）和商品期货交易和合约委员会（CFTC）主席的支持。

Senator Gillibrand explained that the classification of BTC and ETH as commodities stems from their primary function as mediums of exchange and stores of value, similar to traditional commodities like gold and silver.

参议员吉利布兰德解释说，将 BTC 和 ETH 归类为商品源于它们作为交换媒介和价值存储的主要功能，类似于黄金和白银等传统商品。

In contrast, Senator Lummis believes that the majority of other crypto assets fall under the definition of securities. Securities are defined under the "Howey Test," developed in the 1930s, and typically involve investments in which individuals expect profits primarily from the efforts of others.

相比之下，参议员 Lummis 认为大多数其他加密资产都属于证券的定义。证券是根据 20 世纪 30 年代制定的“Howey 测试”进行定义的，通常涉及个人期望主要从他人的努力中获得利润的投资。

Additional Assets

额外资产

The senators also acknowledged the existence of "additional assets" that do not fit neatly into the commodity or security categories. These include non-fungible token (NFT) digital art and assets that lack either a clear store of value or medium of exchange function.

参议员们还承认存在不完全符合商品或证券类别的“额外资产”。其中包括不可替代的代币（NFT）数字艺术品和缺乏明确的价值存储或交换媒介功能的资产。

Regulatory Oversight

监管监督

The proposed bill empowers both the SEC and the CFTC to regulate the cryptocurrency market. The SEC will primarily oversee the securities sector, while the CFTC will have jurisdiction over the larger group of crypto assets classified as commodities.

拟议的法案授权 SEC 和 CFTC 监管加密货币市场。美国证券交易委员会将主要监管证券行业，而商品期货交易委员会将对归类为商品的更大范围的加密资产拥有管辖权。

Statement from Senator Gillibrand

吉利布兰德参议员的声明

"For those who appreciate the unique properties of Bitcoin, like its Proof-of-Work or Proof-of-Stake mechanisms, your token is most likely a commodity," said Senator Gillibrand. "This classification was agreed upon not only with Chairman Gensler of the SEC but also with the chairman of the CFTC."

“对于那些欣赏比特币独特属性的人来说，比如它的工作证明或权益证明机制，你的代币很可能是一种商品，”参议员吉利布兰德说。 “这一分类不仅得到了 SEC 主席 Gensler 的同意，也得到了 CFTC 主席的同意。”

Significance of the Bill

条例草案的意义

The senators emphasized the urgent need for clear regulatory guidelines in the cryptocurrency market, citing concerns over potential risks to investors, market stability, and national security. The bill, if passed, would provide a comprehensive framework for regulating digital asset transactions, protecting consumers, and fostering innovation in the industry.

参议员们强调，加密货币市场迫切需要制定明确的监管指南，理由是对投资者、市场稳定和国家安全的潜在风险的担忧。该法案如果获得通过，将为监管数字资产交易、保护消费者和促进行业创新提供全面的框架。

Next Steps

下一步

The cryptocurrency bill is currently under consideration in the Senate Banking, Housing, and Urban Affairs Committee. It is expected to face further debate and amendment before a final version is put to a vote by the full Senate. The passage of the bill would represent a significant step towards regulating the rapidly growing cryptocurrency market in the United States.

参议院银行、住房和城市事务委员会目前正在审议加密货币法案。在最终版本提交参议院全体投票之前，预计将面临进一步的辩论和修改。该法案的通过将代表着朝着监管美国快速增长的加密货币市场迈出的重要一步。