聯準會提議徵收比特幣稅以保護赤字

為了控制預算赤字，明尼阿波利斯聯邦儲備銀行的一項新研究建議對比特幣等資產徵稅或完全禁止。

The Federal Reserve Bank of Minneapolis is recommending that governments either heavily tax or ban assets like Bitcoin to prevent the cryptocurrency from destabilizing fiscal policy.

明尼阿波利斯聯邦儲備銀行建議政府要麼對比特幣等資產徵收重稅，要麼禁止比特幣等資產，以防止加密貨幣破壞財政政策的穩定。

In a working paper released on Oct. 17, the Minneapolis Fed argued that the introduction of Bitcoin creates problems for an economy in which the government is attempting to implement policies that permanently maintain primary deficits through nominal debt.

在 10 月 17 日發布的一份工作文件中，明尼阿波利斯聯邦儲備銀行認為，比特幣的引入給政府試圖實施透過名義債務永久維持基本赤字的政策的經濟帶來了問題。

The Fed warned that an asset like Bitcoin might lead to a “balanced budget trap,” a situation in which the government is forced to maintain a balanced budget.

聯準會警告稱，像比特幣這樣的資產可能會導致“平衡預算陷阱”，即政府被迫維持平衡預算。

The researchers gave the example of Bitcoin as a “private-sector security” with a fixed supply that lacks “real resource claims.” Bans or taxes would be the best way to solve this conundrum, they claimed, according to Cointelegraph.

研究人員以比特幣作為「私部門證券」的例子，其供應量固定，缺乏「實際資源需求」。據 Cointelegraph 報道，他們聲稱，禁令或稅收將是解決這個難題的最佳方式。

“A legal prohibition against Bitcoin can restore unique implementation of permanent primary deficits, and so can a tax on Bitcoin,” the economists wrote in the paper.

經濟學家在論文中寫道：“對比特幣的法律禁令可以恢復永久性基本赤字的獨特實施，對比特幣徵稅也可以。”

A primary deficit occurs when tax and other revenue collections fall short of spending, excluding interest payments on debt. When describing the primary deficit, the term “permanent” is used to indicate that the government intends to continue spending more than it collects indefinitely.

當稅收和其他收入低於支出（不包括債務利息支付）時，就會出現主要赤字。在描述主要赤字時，「永久性」一詞用於表明政府打算無限期地繼續支出超過收稅。

The total amount of the United States’ accumulated national debt is $35.7 trillion. However, the primary deficit — the annual gap between spending and tax collections — currently stands at around $1.8 trillion.

美國累計國債總額為35.​​7兆美元。然而，主要赤字——支出與稅收之間的年度缺口——目前約為 1.8 兆美元。

As interest rates and debt used to finance the government rise, interest payments on Treasury debt increased by 29% to $1.13 trillion, Reuters reported on Oct. 19. This will be the largest deficit outside the COVID-19 era.

根據路透社 10 月 19 日報，隨著利率和用於政府融資的債務上升，國債利息支付增加了 29%，達到 1.13 兆美元。

In a comment posted on Oct. 21, Matthew Sigel, head of digital asset analysis at VanEck, noted that the Minneapolis Fed joined the European Central Bank in its criticism of Bitcoin, adding that the institution “fantasizes about ‘legal prohibition’ and extra taxes on BTC to ensure govt debt remains the ‘only risk-free security.’”

VanEck 數位資產分析主管 Matthew Sigel 在 10 月 21 日發表的評論中指出，明尼阿波利斯聯邦儲備銀行與歐洲央行一起批評比特幣，並補充說該機構「幻想『法律禁止』和額外稅收」比特幣以確保政府債務仍然是「唯一無風險的安全」。

Meanwhile, Dan McArdle, co-founder of Messari, highlighted a paper titled “Money is Memory” from 1996 published by the Minneapolis Fed. In an interesting twist, this article argued in favor of Bitcoin twelve years before its creation.

同時，Messari 聯合創始人 Dan McArdle 重點介紹了明尼阿波利斯聯邦儲備銀行 1996 年發表的一篇題為「金錢就是記憶」的論文。有趣的是，這篇文章在比特幣誕生前十二年就支持了它。

The article claimed that money is “analogous to a primitive technology of memory,” “available in fixed supply” and does not “enter production.”

文章聲稱，貨幣“類似於原始的記憶技術”，“可以固定供應”，並且不會“進入生產”。

The European Central Bank also joined in on criticizing Bitcoin in a document published on Oct. 12, arguing that early Bitcoin holders are enriched at the expense of later participants. It contended that the asset’s price is set by a collective hallucination, and the authority should either cap the price or ban the cryptocurrency to prevent further regulation.

歐洲央行也在 10 月 12 日發布的一份文件中加入批評比特幣的行列，認為早期比特幣持有者的致富是以犧牲後來的參與者為代價的。它認為，該資產的價格是由集體幻覺決定的，當局應該限制價格或禁止加密貨幣，以防止進一步監管。

Jürgen Schaaf, an adviser to the ECB’s senior management, added to the chorus of arguments against Bitcoin in a post on Oct. 20 on X, arguing that there are “strong reasons to advocate for policies that curb Bitcoin’s growth or even eliminate it.”

歐洲央行高級管理層顧問尤爾根·沙夫(Jürgen Schaaf) 在10 月20 日的X 上發帖，加入了反對比特幣的行列，他認為「有充分的理由提倡遏制比特幣增長甚至消除比特幣的政策」。

“Non-holders should realize that Bitcoin's rise is fueled by a wealth redistribution to the early birds at their expense,” he said.

「非持有者應該意識到，比特幣的上漲是由早起的鳥兒以犧牲他們的利益為代價的財富重新分配所推動的，」他說。