美国证券监管机构不一定让 Solana 作为证券摆脱困境

尽管美国证券监管机构撤回了要求法院做出裁决的请求，但并不一定能让 Solana 作为证券摆脱困境

The United States securities regulator may still classify Solana as a security, despite retracting its request for a court to rule on the matter in its Binance lawsuit on July 30.

美国证券监管机构可能仍将 Solana 归类为证券，尽管在 7 月 30 日的币安诉讼中撤回了要求法院就此事做出裁决的请求。

“There is no reason to think SEC has decided SOL is a non-security,” said Jake Chervinsky, chief legal officer at crypto-focused venture capital firm Variant Fund in a July 30 X post.

专注于加密货币的风险投资公司 Variant Fund 的首席法务官 Jake Chervinsky 在 7 月 30 日的帖子中表示：“没有理由认为 SEC 已经认定 SOL 是非证券。”

Chervinsky’s post pertains to the latest response from the Securities and Exchange Commission, seeking to amend its complaint regarding the “Third Party Crypto Asset Securities.” In essence, the regulator is telling the court that it is no longer asking to determine whether the tokens listed in the lawsuit are securities or not.

切尔文斯基的帖子涉及美国证券交易委员会的最新回应，寻求修改其有关“第三方加密资产证券”的投诉。本质上，监管机构告诉法院，它不再要求确定诉讼中列出的代币是否是证券。

While Chervinsky didn’t elaborate on what that “litigation tactic” may be, he highlighted that the SEC still refers to the same tokens as securities in other crypto exchange lawsuits, including its one with Coinbase.

虽然 Chervinsky 没有详细说明这种“诉讼策略”可能是什么，但他强调，SEC 在其他加密货币交易诉讼中仍然将相同的代币称为证券，包括与 Coinbase 的诉讼。

In separate posts, Miles Jennings, general counsel and head of decentralization at a16z Crypto, and Justin Slaughter, policy director at Paradigm, seemed to agree.

a16z Crypto 总法律顾问兼权力下放负责人迈尔斯·詹宁斯 (Miles Jennings) 和 Paradigm 政策总监贾斯汀·斯劳特 (Justin Slaughter) 在不同的帖子中似乎也同意这一观点。

Slaughter argued that many are “overreading this filing” and that it doesn’t mean the SEC has decided that Solana and other tokens are not securities.

Slaughter 认为，许多人“过度阅读了这份文件”，这并不意味着 SEC 已决定 Solana 和其他代币不是证券。

Jennings explained that Judge Amy Berman Jackson had set such a high bar to establish the Howey test in the Binance case that it wasn’t worth the SEC’s time and effort to prove these tokens are securities.

詹宁斯解释说，艾米·伯曼·杰克逊法官在币安案中设定了如此高的标准来建立 Howey 测试，以至于 SEC 不值得花费时间和精力来证明这些代币是证券。

However, Judge Katherine Polk Failla in the Coinbase lawsuit seems more “inclined” to agree with the SEC’s position — hence, it isn’t worth making the same request made in the Binance lawsuit.

然而，Coinbase 诉讼中的法官 Katherine Polk Failla 似乎更“倾向于”同意 SEC 的立场——因此，不值得在币安诉讼中提出同样的要求。

Jennings added that he isn’t convinced the SEC has mounted a strong enough case to establish the connection between token sales on secondary markets and the managerial efforts of token issuers.

詹宁斯补充说，他不相信 SEC 已经提出了足够有力的案例来建立二级市场上的代币销售与代币发行人的管理努力之间的联系。

“Obviously, I’m speculating about their political motive, but that speculation is informed by information I’m privy to about the SEC’s behavior behind closed doors,” he noted.

“显然，我正在猜测他们的政治动机，但这种猜测是基于我所了解的有关 SEC 秘密行为的信息，”他指出。

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“I think people are overreading this filing,” said Slaughter. “It does not mean the SEC has decided that SOL and other tokens are not securities. In fact, the SEC continues to allege that many tokens are securities in other filings (e.g., Coinbase).”

“我认为人们过度阅读了这份文件，”斯劳特说。 “这并不意味着 SEC 已决定 SOL 和其他代币不是证券。事实上，SEC 在其他文件（例如 Coinbase）中继续声称许多代币是证券。”

Which tokens are affected?In its suit against Binance, the SEC claimed several tokens were securities. The list includes Solana SOL $183 , BNB BNB $587 , Cardano ADA $0.40 , Polygon MATIC $0.5164 , Sandbox SAND $0.33 , Decentraland MANA $0.33 and Axie Infinity AXS $5.91 .

哪些代币受到影响？在对币安的诉讼中，SEC 声称多种代币是证券。该列表包括 Solana SOL 183 美元、BNB BNB 587 美元、Cardano ADA 0.40 美元、Polygon MATIC 0.5164 美元、Sandbox SAND 0.33 美元、Decentraland MANA 0.33 美元和 Axie Infinity AXS 5.91 美元。

SOL

索尔

$183

$183

BNB

币安银行

$587

$587

ADA

ADA

$0.40

0.40 美元

MATIC

玛蒂克

$0.5164

$0.5164

SAND

沙

$0.33

0.33 美元

MANA

玛娜

$0.33

0.33 美元

AXS

AXS

$5.91

5.91 美元

The SEC has, at one point, claimed at least 68 tokens are securities, affecting more than $100 billion worth of cryptocurrencies in the market.

美国证券交易委员会 (SEC) 曾一度声称至少有 68 种代币属于证券，影响了市场上价值超过 1000 亿美元的加密货币。

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