聯準會負責監管的副主席邁克爾·巴爾辭職，理由是該職位存在爭議風險

巴爾辭職距離支持加密貨幣的當選總統唐納德·川普就職不到兩週。

The Federal Reserve Board has announced that Michael S. Barr is resigning from his position as Vice Chair for Supervision. In a statement, Barr said he is stepping down to avoid any potential disputes over the position, which could distract from the Fed’s “mission.”

聯準會宣布 Michael S. Barr 辭去監管副主席職務。巴爾在聲明中表示，他將辭職是為了避免對該職位產生任何潛在爭議，這可能會分散人們對聯準會「使命」的注意力。

“The position of vice chair for supervision was created after the Global Financial Crisis to create greater responsibility, transparency, and accountability for the Federal Reserve’s supervision and regulation of the financial system. The risk of a dispute over the position could be a distraction from our mission. In the current environment, I’ve determined that I would be more effective in serving the American people from my role as governor.”

「監管副主席職位是在全球金融危機後設立的，目的是為聯準會對金融體系的監督和監管賦予更大的責任、透明度和問責制。職位爭議的風險可能會分散我們對使命的注意力。在當前環境下，我決心以州長的身份更有效地為美國人民服務。

Barr’s resignation comes less than two weeks before pro-crypto President-elect Donald Trump’s inauguration. In 2023, during a speech at the Peterson Institute for International Economics in Washington, D.C., Barr highlighted the “special risks” associated with stablecoins, pushing for stricter regulations on the asset class.

巴爾辭職距離支持加密貨幣的當選總統唐納德·川普就職不到兩週。 2023 年，巴爾在華盛頓特區彼得森國際經濟研究所發表演講時強調了與穩定幣相關的“特殊風險”，推動對該資產類別進行更嚴格的監管。

“Stablecoin issuers seek to have—but don’t—some of the same characteristics as federally insured bank deposits. Stablecoin issuers represent that their liabilities can be redeemed on demand at par, a dollar for a dollar. In fact, however, the assets backing the liability can fluctuate in value… The banks we regulate, in contrast, are well protected from bank runs through a robust array of supervisory requirements.

「穩定幣發行人試圖擁有——但沒有——與聯邦保險銀行存款相同的一些特徵。穩定幣發行人表示，他們的債務可以按面值（一美元兌換一美元）按需贖回。然而，事實上，支持負債的資產的價值可能會波動……相比之下，我們監管的銀行透過一系列嚴格的監管要求得到了很好的保護，免受銀行擠兌的影響。

“Consider the consequences if a stablecoin not subject to appropriate supervision and regulation were to be adopted as a widespread means of payment, which some stablecoin developers state as a goal. Stablecoins have the potential to scale quickly because of network effects. An unregulated, unsupervised, deposit-like asset could create tremendous disruptions, not just for financial institutions but for people who might rely on the coin if it were to get wide adoption.

「考慮一下如果不受適當監督和監管的穩定幣被採用作為廣泛的支付手段的後果，一些穩定幣開發商表示這是一個目標。由於網路效應，穩定幣具有快速擴展的潛力。一種不受監管、不受監督的類似存款的資產可能會造成巨大的破壞，不僅對金融機構，而且對那些如果要廣泛採用這種代幣可能依賴該代幣的人來說也是如此。

“We must learn from the past to ensure that we do not allow for new forms of unregulated private money subject to classic forms of run risk, and with the associated spillovers and systemic implications for households, businesses, and the broader economy.”

“我們必須吸取過去的教訓，確保我們不會允許新形式的不受監管的私人資金遭受傳統形式的擠兌風險，並對家庭、企業和更廣泛的經濟產生相關的溢出效應和系統性影響。”