在監理僵局中，以太坊分類的衝突為未來蒙上陰影

由於商品期貨交易委員會（CFTC）和證券交易委員會（SEC）對其分類發生衝突，第二大加密貨幣以太坊的未來懸而未決。美國商品期貨交易委員會 (CFTC) 認為以太坊是一種商品，而美國證券交易委員會 (SEC) 則調查其作為證券的潛力，從而導致其生態系統面臨不確定性和潛在的監管壓力。國會也參與其中，立法者對監管不明確及其對數位資產市場的影響表示擔憂。

Regulatory Clash Clouds Ethereum's Future amid Classification Dispute

分類爭議中監管衝突對以太坊的未來蒙上陰影

The future of Ethereum, the world's second-largest cryptocurrency, hangs in the balance as two major regulatory bodies engage in a high-stakes standoff over its classification. The Commodity Futures Trading Commission (CFTC) has taken a firm stance, classifying digital assets like Ether as commodities, while the Securities and Exchange Commission (SEC) continues its active investigation into whether Ethereum's native token meets the definition of a security.

作為全球第二大加密貨幣的以太坊的未來懸而未決，因為兩大監管機構對其分類陷入了高風險的僵局。商品期貨交易委員會（CFTC）採取了堅定的立場，將以太坊等數位資產歸類為商品，而美國證券交易委員會（SEC）則繼續積極調查以太坊的原生代幣是否符合證券的定義。

This interagency feud came to the fore in the CFTC's recent lawsuit against KuCoin, one of the largest cryptocurrency exchanges. The complaint alleges that KuCoin "illegally dealt in off-exchange commodity futures transactions and leveraged, margined, or financed retail commodity transactions." In its complaint, the CFTC explicitly designated Bitcoin, Ethereum, Litecoin, and stablecoins such as USDC and USDT as commodities under existing law.

這種跨機構的爭執在 CFTC 最近對最大的加密貨幣交易所之一 KuCoin 提起的訴訟中凸顯出來。起訴書稱，KuCoin「非法從事場外商品期貨交易以及槓桿、保證金或融資零售商品交易」。 CFTC 在訴狀中明確將比特幣、以太坊、萊特幣以及 USDC 和 USDT 等穩定幣列為現行法律規定的商品。

Concurrently, the SEC is conducting a thorough examination of the Ethereum Foundation itself to determine Ether's status. Prominent crypto lawyer Jake Chervinsky has criticized the CFTC's commodity classification as a "savage" challenge to the SEC's Ethereum inquiry. Fox Business reporter Eleanor Terrett has also highlighted the significance of these developments against the backdrop of the SEC's broader crackdown on the cryptocurrency industry.

同時，美國證券交易委員會正在對以太坊基金會本身進行徹底檢查，以確定以太坊的狀態。著名加密貨幣律師 Jake Chervinsky 批評 CFTC 的商品分類是對 SEC 以太坊調查的「野蠻」挑戰。福克斯商業新聞記者 Eleanor Terrett 也強調了在 SEC 對加密貨幣行業進行更廣泛打擊的背景下這些事態發展的重要性。

Congressional Pressure on SEC for Clarity

國會向 SEC 施壓，要求澄清情況

On Capitol Hill, top Republicans are intensifying pressure on SEC Chair Gary Gensler to address the regulatory ambiguity surrounding Ethereum. In a strongly worded letter, the leaders of the House Agriculture and Financial Services committees expressed alarm at the lack of clarity following Prometheum, an SEC-regulated broker-dealer, announcing plans to offer custody services for Ether. The lawmakers warned that such a move could "irreparably" disrupt digital asset markets if Ethereum is not classified as a non-security.

在國會山，共和黨高層正在加大對美國證券交易委員會主席加里·詹斯勒的壓力，要求其解決圍繞以太坊的監管模糊性問題。在一封措辭強硬的信中，眾議院農業和金融服務委員會的領導人對受 SEC 監管的經紀自營商 Prometheum 宣布計劃提供以太坊託管服務後缺乏明確性表示擔憂。立法者警告說，如果以太坊不被歸類為非證券，此舉可能會「不可挽回地」擾亂數位資產市場。

The congressional letter lambasted Gensler for refusing to disclose the SEC's position on Ether, accusing him of perpetuating confusion in the unregulated crypto landscape. It demanded guidance on which digital tokens qualify as securities and questioned whether the SEC would take proactive steps to address potential misconduct by broker-dealers like Prometheum.

這封國會信痛斥 Gensler 拒絕透露 SEC 對 ETH 的立場，指責他在不受監管的加密貨​​幣領域造成了長期的混亂。它要求就哪些數位代幣符合證券資格提供指導，並質疑 SEC 是否會採取積極措施來解決 Prometheum 等經紀交易商潛在的不當行為。

Regulatory Crossroads for Ethereum

以太坊的監管十字路口

The regulatory uncertainty surrounding Ethereum has cast a pall over the crypto world, with investors fearing an impending crackdown on the cryptocurrency and its ecosystem of decentralized applications and services. All eyes are now on the regulators to determine whether they will embrace Ethereum's innovative potential or stifle it with restrictive classification.

圍繞以太坊的監管不確定性給加密世界蒙上了一層陰影，投資者擔心加密貨幣及其去中心化應用程式和服務的生態系統即將受到打擊。現在，所有的目光都集中在監管機構身上，以確定他們是會擁抱以太坊的創新潛力，還是會透過限制性分類來扼殺牠。

Implications for Digital Asset Markets

對數位資產市場的影響

The outcome of this regulatory dispute will have profound implications for the digital asset market. If the SEC prevails, Ethereum and other digital assets deemed securities will face heightened scrutiny and likely be subjected to stricter regulations. This could hinder innovation and limit the growth of the cryptocurrency industry.

這場監管糾紛的結果將對數位資產市場產生深遠影響。如果美國證券交易委員會獲勝，以太坊和其他被視為證券的數位資產將面臨更嚴格的審查，並可能受到更嚴格的監管。這可能會阻礙創新並限制加密貨幣行業的成長。

Conversely, if the CFTC's classification of Ethereum as a commodity stands, it could provide a framework for more flexible and innovation-friendly regulation. However, such a designation could also open the door to increased market manipulation and investor protection concerns.

相反，如果美國商品期貨交易委員會將以太坊歸類為商品，它可以為更靈活和有利於創新的監管提供一個框架。然而，這樣的指定也可能為增加市場操縱和投資者保護擔憂打開大門。

As the regulatory landscape continues to evolve, market participants and investors are eagerly awaiting clarity on the classification of Ethereum. The future of this pivotal cryptocurrency and the broader digital asset ecosystem hangs in the balance.

隨著監管環境的不斷發展，市場參與者和投資者迫切等待以太坊分類的明確化。這種關鍵的加密貨幣和更廣泛的數位資產生態系統的未來懸而未決。