美国最高的监管机构昨天明确推动了变革

美国最高的监管机构昨天为变革做出了明确的努力，称将股票和债券转移到加密货币和区块链上可以打开新的购买，出售和拥有股票的方式。

A top US regulator on Wednesday (August 9) signaled a strong intent for change, suggesting that moving stocks and bonds onto crypto and blockchain could open the door to new ways of buying, selling and owning shares.

美国最高的监管机构于周三（8月9日）表示有强烈的变革意图，这表明将股票和债券转移到加密货币和区块链上可以打开新的购买，出售和拥有股份的新方法。

Speaking at a Washington roundtable on tokenization, the official, newly appointed US Securities and Exchange Commission (SEC) Chair Paul Atkins, drew a simple parallel to how music shifted from vinyl to digital files.

官方，新任命的美国证券交易委员会（SEC）主席保罗·阿特金斯（Paul Atkins）在华盛顿关于令牌化的圆桌会议上发表讲话，与音乐从乙烯基转变为数字文件的简单相似。

Atkins added that sticking with old rules could push innovation offshore, and vowed to work with his fellow commissioners to quickly set fresh guidelines.

阿特金斯（Atkins）补充说，坚持旧规则可能会将创新推向海外，并发誓要与他的同事们合作以迅速制定新的指导方针。

Issuance Guidelines Under Scrutiny

审查的发行指南

According to Atkins, only four crypto issuers have used the SEC’s full registration or “Regulation A” since these tokens first appeared.

根据阿特金斯（Atkins）的说法，由于这些令牌首次出现以来，只有四个加密发行人使用了SEC的完整注册或“法规A”。

The small number, he said, shows that current forms—like the long Form S-1—can feel like “a square peg in a round hole.” He suggested carving out clear paths, including new exemptions or safe harbors, so token offerings can meet basic disclosure needs without pages of irrelevant details.

他说，少数数字表明，当前的形式（例如S-1的长形式）可能感觉就像是“圆孔中的正方形钉”。他建议制定清晰的途径，包括新的豁免或安全的港口，因此代币产品可以满足基本的披露需求，而无需无关紧要的细节。

Rethinking Custody Rules

重新考虑监护权规则

As reported, the SEC has already scrapped Staff Accounting Bulletin No. 121, which had tangled up firms wanting to hold digital assets. The speaker called that move just the first step.

据报道，SEC已经取消了员工会计公告121，该公报纠缠了希望持有数字资产的公司。说话者称之为第一步。

He urged a fresh look at who can act as a “qualified custodian,” noting that some funds and advisers now use self-custody tools that may offer strong safeguards. Only two “special purpose broker-dealers” exist today, and he hinted that their narrow rules might be replaced with a more sensible model.

他敦促对谁可以充当“合格的托管人”的崭新审视，并指出一些资金和顾问现在使用可能提供强大保障措施的自我顾客工具。当今只有两个“特殊目的经纪交易者”，他暗示他们的狭窄规则可能被更明智的模型所取代。

«We may need to consider whether the existing framework for "special purpose broker-dealers" is sufficiently flexible to accommodate the evolving landscape of digital asset trading. This is an area where we can work together to ensure that our rules are keeping pace with the times and that our goal of investor protection remains paramount,» said Atkins.

«我们可能需要考虑现有的“特殊用户经纪交易商”的框架是否足够灵活，以适应数字资产交易的不断发展的景观。阿特金斯说，这是我们可以共同努力的领域，以确保我们的规则与时代保持同步，并且我们的投资者保护目标仍然至关重要。”

Trading Platforms Get New Focus

交易平台获得新的重点

Atkins said it’s time to let brokers build “super apps” where customers can trade stocks, crypto and other products in a single place. He pointed out that nothing in current law bars broker-dealers from listing non-security tokens alongside shares.

阿特金斯说，是时候让经纪人建立“超级应用程序”，客户可以在一个地方交易股票，加密货币和其他产品。他指出，当前法律中没有什么都没有列出与股票一起列出非安全令牌的。

To make that happen, he’s asking staff to update the rules for alternative trading systems, and to weigh whether national exchanges might host tokenized equity listings in the future.

为了实现这一目标，他要求员工更新替代交易系统的规则，并权衡国家交流是否可能在将来托管令牌股权上市。

«We are also examining the scope of the term 'security token' and how it relates to the broader category of tokens. As we coordinate our efforts, I believe we can quickly provide clear signals to investors and businesses, facilitating the efficient deployment of capital and the development of innovative financial products and services.»

«我们还在研究“安全令牌”一词的范围及其与更广泛的令牌类别的关系。当我们协调我们的努力时，我相信我们可以快速向投资者和企业提供明确的信号，从而促进资本的有效部署以及创新的金融产品和服务的发展。

Task Force Drives Coordination

工作队驱动协调

Atkins also highlighted a newly formed Crypto Task Force, led by two fellow commissioners and focused on coordinating the SEC’s work in crypto. He said this group fixes years of agency silos by pooling policy, legal and technical teams.

阿特金斯还强调了一个新成立的加密特遣部队，由两名专员领导，并致力于协调SEC在加密货币的工作。他说，这个小组通过集合政策，法律和技术团队来解决多年的代理孤岛。

The effort follows a call from US President Donald Trump to make the US «the crypto capital of the planet.»

这项努力是在美国总统唐纳德·特朗普（Donald Trump）打来的呼吁之后，使美国“地球的加密之都”。