中國的加密貨幣主導地位對美國構成緊迫的國家安全威脅

比特幣價值的飆升和加密貨幣的成長凸顯了加強監管的迫切需求。中國製造的 ASIC 的主導地位對於比特幣挖礦至關重要，這給美國金融體系和關鍵基礎設施帶來了重大的地緣政治風險。中國透過其供應鏈主導地位以及採礦設備的潛在漏洞影響或破壞比特幣網路的能力引起了人們對網路間諜和破壞活動的擔憂。監管機構必須迅速實施網路安全措施，提高供應鏈透明度，並支持美國比特幣挖礦技術產業的發展，以減輕這些風險。

In the rapidly evolving landscape of the United States economy, cryptocurrencies have emerged as a pivotal force, with Bitcoin (BTC) leading the charge. The advent of exchange-traded funds (ETFs) has propelled Bitcoin into newfound prominence, opening the floodgates to a massive influx of new users. While this surge in popularity is largely welcomed, it has also triggered an urgent need for heightened regulatory scrutiny, akin to the safeguards implemented in other rapidly evolving technological domains such as artificial intelligence.

在美國經濟快速發展的格局中，加密貨幣已成為一股關鍵力量，其中比特幣（BTC）處於領先地位。交易所交易基金（ETF）的出現將比特幣推向了新的地位，為大量新用戶的湧入打開了大門。雖然這種受歡迎程度的激增在很大程度上受到歡迎，但它也引發了加強監管審查的迫切需要，類似於在人工智慧等其他快速發展的技術領域實施的保障措施。

At the core of this regulatory necessity lies the growing concern over the national security implications posed by China's dominant role in Bitcoin mining. The United States has demonstrated its resolve in countering perceived technological threats emanating from China, exemplified by decisive actions against entities such as Huawei, TikTok, and Chinese electric vehicle manufacturers. However, the risks associated with cryptocurrencies are particularly alarming, as Bitcoin miners represent a surreptitious, technologically sophisticated layer seamlessly integrated into the United States' energy and telecommunications infrastructure.

這種監管必要性的核心在於，人們越來越擔心中國在比特幣挖礦領域的主導地位所帶來的國家安全影響。美國已經展示了對抗來自中國的技術威脅的決心，對華為、TikTok 和中國電動車製造商等實體採取果斷行動就是例證。然而，與加密貨幣相關的風險尤其令人擔憂，因為比特幣礦工代表著一個秘密的、技術複雜的層，無縫整合到美國的能源和電信基礎設施中。

Bitcoin mining, the process by which new Bitcoins enter circulation, underpins the network's security by validating and confirming transactions on the blockchain, Bitcoin's immutable public ledger. Miners engage in intense computational competitions, striving to solve complex mathematical problems. The first miner to crack the code earns the privilege of adding the next block to the blockchain and is rewarded with newly minted Bitcoins and transaction fees.

比特幣挖礦是新比特幣進入流通的過程，透過驗證和確認區塊鏈（比特幣不可變的公共分類帳）上的交易來支撐網路的安全。礦工們參與激烈的計算競賽，努力解決複雜的數學問題。第一個破解代碼的礦工將獲得將下一個區塊添加到區塊鏈的特權，並獲得新鑄造的比特幣和交易費用的獎勵。

Given its computationally intensive nature, Bitcoin mining requires specialized mining rigs equipped with high-performance computing systems powered by advanced semiconductors known as ASICs. China has established a near-monopoly in the supply of ASICs for Bitcoin mining, controlling an astonishing 98% of the market. A handful of major manufacturers, including Bitmain, dominate this sector, utilizing state-of-the-art manufacturing processes employed by TSMC, such as the cutting-edge 3nm technology.

鑑於其運算密集性質，比特幣挖礦需要配備高效能運算系統的專用挖礦設備，該系統由先進的半導體（稱為 ASIC）提供支援。中國在比特幣挖礦專用 ASIC 供應方面建立了近乎壟斷的地位，控制著令人震驚的 98% 的市場份額。包括比特大陸在內的少數主要製造商利用台積電採用的最先進的製造工藝（例如尖端的 3nm 技術）在該領域佔據主導地位。

This Chinese dominance in Bitcoin mining poses a multifaceted threat to United States trade policy, competitiveness, and national security. Despite tariffs imposed on Chinese imports stemming from ongoing trade disputes, Chinese companies like Bitmain have found ingenious ways to circumvent these measures. They establish subsidiaries or affiliates in other countries and resort to aggressive dumping and price-cutting tactics, effectively stifling the growth of domestic ASIC suppliers in the United States. This undermines both the tariffs and the much-touted CHIPS Act, which aims to bolster semiconductor manufacturing within America's borders.

中國在比特幣挖礦領域的主導地位對美國的貿易政策、競爭力和國家安全構成了多方面的威脅。儘管由於持續的貿易爭端而對中國進口商品徵收關稅，但比特大陸等中國公司已經找到了巧妙的方法來規避這些措施。他們在其他國家設立子公司或聯盟公司，並採取激進的傾銷和降價策略，有效遏制了美國國內ASIC供應商的成長。這破壞了關稅和備受推崇的晶片法案，該法案旨在加強美國境內的半導體製造。

As Bitcoin mining facilities proliferate across the United States, many of which are owned and operated by Chinese entities, their proximity to critical infrastructure has raised alarm bells among national security experts. These facilities are viewed as potential Trojan horses, providing Chinese intelligence agencies with a covert platform for cyber-espionage. Military installations, power grids, and communication networks could all become targets of such malicious activities.

隨著比特幣挖礦設施在美國各地激增（其中許多由中國實體擁有和營運），它們與關鍵基礎設施的距離給國家安全專家敲響了警鐘。這些設施被視為潛在的特洛伊木馬，為中國情報機構提供了進行網路間諜活動的秘密平台。軍事設施、電網和通訊網路都可能成為此類惡意活動的目標。

Chinese companies, whether state-owned or private, are legally bound to cooperate with intelligence services upon request. This raises the specter of Chinese authorities exploiting their influence within seemingly innocuous crypto mining operations to gather sensitive data on domestic affairs within the United States.

中國企業，無論是國有企業還是私營企業，都有法律義務根據要求與情報部門合作。這引發了人們對中國當局利用其在看似無害的加密貨幣挖礦業務中的影響力來收集有關美國國內事務的敏感數據的擔憂。

Furthermore, the inherent technical complexity of crypto mining equipment introduces potential backdoor vulnerabilities. Experts caution that Chinese-manufactured hardware could harbor hidden security flaws embedded in firmware or software, enabling covert data transmission or even remote sabotage of critical infrastructure.

此外，加密貨幣挖礦設備固有的技術複雜性引入了潛在的後門漏洞。專家警告說，中國製造的硬體可能在韌體或軟體中隱藏隱藏的安全漏洞，從而實現秘密資料傳輸，甚至對關鍵基礎設施進行遠端破壞。

The growing integration of Bitcoin and related blockchains into the fabric of the United States financial system and economy further amplifies the risks. An estimated 40% of American adults hold cryptocurrencies, and the Bitcoin mining industry is projected to expand at a steady 9% compounded annual growth rate through 2029. Any major disruption in trading, mining activity, or price stability would have profound consequences.

比特幣和相關區塊鏈日益融入美國金融體系和經濟結構，進一步放大了風險。據估計，40% 的美國成年人持有加密貨幣，預計到2029 年，比特幣採礦業將以9% 的複合年增長率穩定擴張。交易、採礦活動或價格穩定的任何重大干擾都將產生深遠的後果。

The reliance on Chinese suppliers for Bitcoin transaction validation poses a grave risk to the United States financial system. With such a commanding presence in the domestic crypto mining industry, China could potentially exert influence or even disrupt operations during periods of heightened geopolitical tensions. Restrictions on Bitcoin mining rig imports or manipulation of the Bitcoin network could destabilize the cryptocurrency's functioning, negatively impacting users, investors, and financial institutions alike.

對中國供應商進行比特幣交易驗證的依賴對美國金融體系構成了嚴重風險。由於中國在國內加密貨幣挖礦行業佔據主導地位，因此在地緣政治緊張局勢加劇期間，中國可能會施加影響，甚至擾亂營運。對比特幣採礦設備進口的限製或對比特幣網路的操縱可能會破壞加密貨幣功能的穩定性，從而對用戶、投資者和金融機構等產生負面影響。

Given the magnitude of these risks, swift and decisive action is imperative. A comprehensive regulatory framework must be established to safeguard United States national interests and vigorously enforce existing policies. This includes implementing stringent cybersecurity protocols and monitoring mechanisms within mining facilities, demanding greater supply chain transparency, conducting thorough background checks on Bitcoin mining investors, and fostering international cooperation to address cross-border security concerns and prevent regulatory arbitrage.

鑑於這些風險的嚴重性，必須採取迅速而果斷的行動。必須建立全面的監管框架來維護美國的國家利益並大力執行現有政策。這包括在採礦設施內實施嚴格的網路安全協議和監控機制，要求提高供應鏈透明度，對比特幣採礦投資者進行徹底的背景調查，以及促進國際合作以解決跨境安全問題並防止監管套利。

Most critically, the United States must invest in and incentivize domestic production of advanced Bitcoin mining technologies. The CHIPS Act offers a catalyst for this endeavor, and the private sector must embrace this opportunity with fervor. Robust domestic manufacturing will not only mitigate security and economic risks but also ensure a resilient supply chain, foster economic growth, and establish long-term technological leadership in this burgeoning industry.

最關鍵的是，美國必須投資並激勵先進比特幣挖礦技術的國內生產。 《CHIPS 法案》為這項努力提供了催化劑，私營部門必須熱情擁抱這一機會。強勁的國內製造業不僅可以減輕安全和經濟風險，還可以確保供應鏈有彈性，促進經濟成長，並在這個新興產業中建立長期的技術領先地位。

Finally, the United States should take an unequivocal stand by prohibiting the use of Chinese-manufactured mining hardware within its borders, mirroring the measures taken to protect the communications sector with the ban on Huawei for 5G networks. Chinese-owned Bitcoin mining operations should also be barred from operating on American soil. The existing framework of the Committee on Foreign Investment in the United States (CFIUS) should be extended to encompass Bitcoin mining activities.

最後，美國應該採取明確立場，禁止在其境內使用中國製造的挖礦硬件，就像禁止華為參與 5G 網路一樣，為保護通訊產業而採取的措施。中國擁有的比特幣挖礦業務也應被禁止在美國境內營運。美國外國投資委員會（CFIUS）的現有框架應擴大到涵蓋比特幣挖礦活動。

Authoritarian regimes often perceive decentralized power structures as a threat. Bitcoin's decentralized nature fosters open participation and global collaboration, creating a diverse and geographically dispersed ecosystem that transcends national boundaries. However, the creation of a highly centralized supply bottleneck, controlled by a notoriously unpredictable country, undermines these core principles. More importantly, it jeopardizes the long-term viability of the cryptocurrency ecosystem while providing a Trojan horse for Chinese technological dominance in the United States.

獨裁政權常將分散的權力結構視為威脅。比特幣的去中心化性質促進了開放參與和全球協作，創造了一個超越國界的多元化且地理分散的生態系統。然而，由一個出了名的不可預測的國家控制的高度集中的供應瓶頸的形成破壞了這些核心原則。更重要的是，它危及了加密貨幣生態系統的長期生存能力，同時為中國在美國的技術主導地位提供了特洛伊木馬。

The United States must act decisively to protect its national interests and ensure the integrity and resilience of its economy and financial system. Swift regulatory intervention, coupled with strategic investment in domestic technologies, is paramount. The stakes are high, and the time for action is now.

美國必須採取果斷行動，保護其國家利益，確保其經濟和金融體系的完整性和彈性。迅速的監管幹預以及對國內技術的戰略投資至關重要。風險很高，現在是採取行動的時候了。