Coinbase v. SEC：未註冊證券引發的加密貨幣交易糾紛移至美國第二巡迴上訴法院

Coinbase 已獲得聯邦法官的批准，要求對美國證券交易委員會 (SEC) 的指控進行特別和有限的上訴。

Coinbase has obtained approval from a federal judge for its request for a special and limited appeal against the charges from the United States Securities and Exchange Commission (SEC). Now the controversy over crypto trading as unregistered securities or not will move to the United States Court of Appeals for the Second Circuit.

Coinbase 已獲得聯邦法官的批准，要求對美國證券交易委員會 (SEC) 的指控進行特別和有限的上訴。現在，關於加密貨幣交易是否作為未註冊證券的爭議將轉移到美國第二巡迴上訴法院。

In practice, now, the controversy over crypto trading as unregistered securities or not, will move to the United States Court of Appeals for the Second Circuit. In contrast, the rest of the case between Coinbase and the SEC will remain stalled and inactive.

實際上，現在，關於加密貨幣交易是否作為未註冊證券的爭議將轉移到美國第二巡迴上訴法院。相比之下，Coinbase 和 SEC 之間的其餘案件將保持停滯和不活躍。

This is a real acceleration on a potential definitive answer to the question of whether some tokens and crypto should be treated as securities.

對於某些代幣和加密貨幣是否應被視為證券的問題，這確實加速了潛在的明確答案。

In fact, if the outcome of the United States Court of Appeals for the Second Circuit were to affirm that the SEC was wrong with its accusations against Coinbase, this would become an echo for the entire cryptocurrency sector.

事實上，如果美國第二巡迴上訴法院的結果確認 SEC 對 Coinbase 的指控是錯誤的，這將成為整個加密貨幣領域的迴響。

The judge Failla, approving the move of the case to a trial known as an interlocutory appeal, nevertheless disapproved of some statements by Coinbase.

Failla 法官批准將案件移至中間上訴審判，但不同意 Coinbase 的一些聲明。

Here’s what he said:

他是這樣說的：

\”[I do not appreciate] the company’s efforts to cast shadows on the SEC’s approach to crypto assets\”

“[我不讚賞]該公司為 SEC 處理加密資產的方法蒙上陰影的努力”

In any case, Failla also stated that he welcomes Coinbase’s request for April 2024 for the following reasons:

無論如何，Failla 也表示，他歡迎 Coinbase 在 2024 年 4 月提出的要求，原因如下：

“because it presents a question of law of fundamental importance regarding the scope and application of Howey to crypto-assets, on which there is a substantial reason for divergence of opinions, and whose resolution would anticipate the definitive conclusion of the SEC’s enforcement action”.

「因為它提出了一個關於 Howey 對加密資產的範圍和應用具有根本重要性的法律問題，在這個問題上存在意見分歧的重大原因，並且其決議將預示 SEC 執法行動的最終結論」。

Last October, the CEO of Coinbase, Brian Armstrong, had stated that the next President of the SEC should apologize to the American people for the damage caused to the crypto world.

去年 10 月，Coinbase 執行長 Brian Armstrong 曾表示，下一任 SEC 主席應該為加密世界造成的損害向美國人民道歉。

At that moment, it was not known that Trump was the new elected President of the USA, and that there would be this new opening in favor of the sector.

當時，還不知道川普是新當選的美國總統，也不知道會有利於該產業的新開放。

In any case, for Armstrong, the apologies from the SEC would be the symbol of a \”new beginning\” to start the process of restoring trust in the institution.

無論如何，對於阿姆斯壯來說，美國證券交易委員會的道歉將象徵著“新的開始”，開始恢復對該機構的信任。