SEC 的 Solana 让步不太可能为今年 ETF 铺平道路

美国证券交易委员会 (SEC) 修改了指控，山寨币交易者对币安诉讼的最新进展表示欢迎

The U.S. Securities and Exchange Commission (SEC) has amended its accusations against altcoins in its lawsuit against Binance. The move comes as a surprise to many, as the SEC has long maintained that several altcoins, including Solana (SOL), meet the definition of a security.

美国证券交易委员会 (SEC) 在针对币安的诉讼中修改了对山寨币的指控。此举令许多人感到惊讶，因为 SEC 长期以来一直认为包括 Solana (SOL) 在内的几种山寨币符合证券的定义。

Now, the SEC appears to be backtracking from this stance, at least in the context of the Binance lawsuit. The amendment to the SEC’s claims was filed on July 30 in the U.S. District Court for the Southern District of New York.

现在，美国证券交易委员会似乎正在改变这一立场，至少在币安诉讼的背景下是这样。对 SEC 索赔的修正已于 7 月 30 日向美国纽约南区地方法院提交。

The SEC initially filed the lawsuit against Binance in March 2023, accusing the exchange of illegally selling unregistered securities, among other violations. The SEC specifically named Solana and several other altcoins in its complaint.

美国证券交易委员会最初于 2023 年 3 月对币安提起诉讼，指控该交易所非法出售未注册证券等违规行为。 SEC 在投诉中特别点名了 Solana 和其他几种山寨币。

However, the SEC’s recent amendment to its claims removes any mention of whether or not the altcoins are securities. The amendment also states that the SEC is not seeking any judgment or ruling on this issue in the Binance case.

然而，美国证券交易委员会最近对其声明进行了修改，删除了有关山寨币是否为证券的任何提及。该修正案还指出，SEC 不会就币安案中的这一问题寻求任何判决或裁决。

This move by the SEC is likely a strategic attempt to avoid setting a legal precedent on the classification of altcoins. If the court were to rule on this issue in the Binance case, it could have broad implications for the entire altcoin market.

美国证券交易委员会的这一举动可能是避免在山寨币分类方面开创法律先例的战略尝试。如果法院在币安案中就这个问题做出裁决，可能会对整个山寨币市场产生广泛的影响。

If the altcoins were classified as securities, the SEC could restrict their trading on centralized crypto exchanges. This would significantly impact their liquidity and prices.

如果山寨币被归类为证券，美国证券交易委员会可以限制它们在集中式加密货币交易所进行交易。这将严重影响其流动性和价格。

On the other hand, a different ruling would effectively remove the SEC’s authority over altcoins, which is something the agency wants to avoid.

另一方面，不同的裁决将有效地取消美国证券交易委员会对山寨币的权威，这是该机构希望避免的事情。

Several analysts have commented on the SEC’s decision to avoid setting a precedent on altcoins in the Binance case. Some believe that this indicates a shift in the SEC’s stance on these tokens.

几位分析师对 SEC 在币安案中避免开创山寨币先例的决定发表了评论。一些人认为，这表明 SEC 对这些代币的立场发生了转变。

Others, however, suggest that this is simply a litigation tactic and that the SEC still considers altcoins like Solana to be securities. They point out that the SEC’s other cases still classify these tokens as securities.

然而，其他人则认为这只是一种诉讼策略，SEC 仍然将 Solana 等山寨币视为证券。他们指出，SEC 的其他案件仍然将这些代币归类为证券。

This lack of clarity from the SEC is making it difficult for investors and analysts to predict the future of altcoin ETFs, such as a Solana ETF.

SEC 缺乏明确性使得投资者和分析师很难预测 Solana ETF 等山寨币 ETF 的未来。

Solana ETF prospects still dim with SEC decision to avoid setting precedent on altcoins in Binance case

Solana ETF 前景依然黯淡，SEC 决定避免在币安案中为山寨币树立先例

The classification of altcoins as securities would significantly impact the prospects of exchange-traded funds (ETFs) that track these tokens.

将山寨币归类为证券将极大地影响追踪这些代币的交易所交易基金（ETF）的前景。

Currently, the SEC does not permit ETFs that directly track altcoins, such as Solana. This is because the SEC maintains that altcoins are unregistered securities in its other cases.

目前，SEC 不允许 ETF 直接跟踪山寨币，例如 Solana。这是因为美国证券交易委员会认为，在其他情况下，山寨币是未注册的证券。

As a result, any ETF that tracks altcoins would be unable to list on major exchanges in the U.S. However, the SEC’s recent decision to avoid setting a precedent on this issue could pave the way for altcoin ETFs in the future.

因此，任何追踪山寨币的 ETF 将无法在美国主要交易所上市。然而，美国证券交易委员会最近决定避免在这个问题上开创先例，这可能为未来山寨币 ETF 铺平道路。

If the SEC were to change its stance on altcoins and decide that they are not securities, this would open the door for ETFs that track these tokens to be listed and traded on exchanges.

如果 SEC 改变对山寨币的立场并决定它们不是证券，这将为跟踪这些代币的 ETF 在交易所上市和交易打开大门。

However, several hurdles still need to be cleared before a Solana ETF could be approved by the SEC. Several analysts have weighed in on this topic following the SEC’s recent move.

然而，在 Solana ETF 获得 SEC 批准之前，仍需克服一些障碍。在美国证券交易委员会最近采取行动后，几位分析师就这个话题发表了看法。

For example, Nate Geraci, co-founder of The ETF Institute, explained on Wednesday, July 31, what would need to happen for Solana ETFs to be approved.

例如，ETF Institute 联合创始人 Nate Geraci 在 7 月 31 日星期三解释了 Solana ETF 需要做什么才能获得批准。

According to Geraci, three key developments could lead to the approval of Solana ETFs. One possibility is that Solana futures begin trading on the CME, with a sufficient track record.

Geraci 表示，三项关键进展可能会导致 Solana ETF 获得批准。一种可能性是 Solana 期货开始在 CME 交易，并拥有足够的跟踪记录。

However, this path is likely to be lengthy. Another option is the introduction of a comprehensive crypto regulatory framework by legislators, which would also be a long path.

然而，这条路可能会很漫长。另一种选择是立法者引入全面的加密货币监管框架，这也将是一条漫长的道路。

Finally, a change in the current administration could lead to a change in the SEC leadership, which would be the quickest path to approval for Solana ETFs.

最后，现任政府的变化可能会导致 SEC 领导层的变化，这将是 Solana ETF 获得批准的最快途径。

Solana futures are currently not available on the CME, and the exchange has not yet announced any plans to launch such futures. This leaves two other options for a Solana ETF.

目前 CME 尚未提供 Solana 期货，该交易所尚未宣布任何推出此类期货的计划。这为 Solana ETF 留下了另外两个选择。

Solana ETF could also become a reality if the legislators introduce a comprehensive crypto regulatory framework. In that case, the SEC would have to reassess its approach.

如果立法者引入全面的加密货币监管框架，Solana ETF 也可能成为现实。在这种情况下，美国证券交易委员会将不得不重新评估其做法。

Alternatively, a change in the current administration could lead to a change in the SEC leadership. Of these three options, only the last one seems likely to occur this year.

或者，现任政府的更迭可能会导致 SEC 领导层的变化。在这三种选择中，今年似乎只有最后一种可能出现。

This means that a Solana ETF is unlikely to be approved in 2024, and the same goes for all other altcoin candidates for ETFs, including Ripple.

这意味着 Solana ETF 不太可能在 2024 年获得批准，所有其他候选 ETF 的山寨币也是如此，包括 Ripple。