眾議院的 FIT21 法案真的是加密貨幣所需的立法嗎？

儘管許多業內人士對昨天《21 世紀金融創新和技術法案》的通過表示歡迎，但也有許多人提出了批評和擔憂。

The House of Representatives passed the Financial Innovation and Technology for the 21st Century Act on Wednesday, advancing a measure that would set up a regulatory framework for digital assets.

眾議院週三通過了《21 世紀金融創新和技術法案》，推進了一項為數位資產建立監管框架的措施。

The bill passed 279 to 136, largely along party lines, with the vast majority of Republicans supporting the bill and 71 Democrats voting against it. The bill will now head to the Senate, though it is unlikely to be taken up this year.

該法案以 279 票對 136 票通過，主要按照黨派路線，絕大多數共和黨人支持該法案，71 名民主黨人投下反對票。該法案現在將提交參議院，但今年不太可能獲得通過。

If passed, the bill would give the Commodity Futures Trading Commission (CFTC) the authority to oversee digital assets that are deemed to be commodities, while the Securities and Exchange Commission (SEC) would continue to oversee those that are classified as securities.

如果通過，該法案將賦予商品期貨交易委員會（CFTC）監管被視為商品的數位資產的權力，而證券交易委員會（SEC）將繼續監管被歸類為證券的數位資產。

This would mark a significant shift in the regulatory landscape for crypto, as the SEC has largely taken the lead in regulating the industry to date, despite lacking explicit authority to do so.

這將標誌著加密貨幣監管格局的重大轉變，因為迄今為止，儘管缺乏明確的授權，但美國證券交易委員會在很大程度上主導了該行業的監管。

However, some crypto legal experts have raised concerns about the bill, arguing that it does not go far enough in shifting regulatory oversight away from the SEC.

然而，一些加密貨幣法律專家對該法案表示擔憂，認為該法案在將監管監督從 SEC 轉移出去方面還遠遠不夠。

“It does not even shift agencies; SEC would still have huge power. It provides for a dual regulatory regime, split between SEC and CFTC. It does this by giving the CFTC authority it never had—regulatory authority over a spot commodities market,” crypto legal expert Gabriel Shapiro said on X. “Man we have been psyopped so bad on this FIT21 thing.”

「它甚至沒有改變機構； SEC 仍然擁有巨大的權力。它規定了 SEC 和 CFTC 之間的雙重監管制度。它通過賦予 CFTC 前所未有的權力來做到這一點，即對現貨商品市場的監管權，”加密貨幣法律專家 Gabriel Shapiro 在 X 上表示。“夥計，我們對 FIT21 的事情感到非常震驚。

“There has never before been a spot commodities market that is *regulated*...we are just handing this authority over wholesale to the CFTC and hoping they are not insane fascists like Gary (but he used to be head of CFTC lol),” he added.

「以前從來沒有一個現貨商品市場受到*監管*......我們只是將批發權交給了CFTC，並希望他們不是像加里這樣瘋狂的法西斯分子（但他曾經是CFTC 的負責人，哈哈）， 「 他加了。

Others have also pointed out that the bill may not give the CFTC the broad authority it needs to effectively oversee the crypto markets.

其他人也指出，該法案可能不會賦予商品期貨交易委員會有效監督加密貨幣市場所需的廣泛權力。

“This bill needlessly creates more jurisdiction for the CFTC over spot and a walled garden for incumbents, among other things. But you dipshits kept asking for new laws,” Stephen Palley, a partner at Brown Rudnick, said.

「這項法案毫無必要地為 CFTC 建立了更多的現貨管轄權，並為現任者建立了圍牆花園等。但你們這些蠢貨卻一直要求制定新法律。

The bill has also faced criticism from Maxine Waters (D-CA), the ranking Democrat on the House Financial Services Committee, who called it one of the worst bills she's ever seen.

該法案還面臨眾議院金融服務委員會資深民主黨人瑪克辛·沃特斯（D-CA）的批評，她稱這是她見過的最糟糕的法案之一。

She said the bill would stretch the resources of the CFTC, which has only around 700 employees compared to the SEC’s 4,500, and could also undermine other legislative efforts, like the stablecoin bill Waters worked on alongside House Financial Services Chair Patrick McHenry (R-NC).

她表示，該法案將耗盡CFTC 的資源，該委員會只有約700 名員工，而SEC 則有4,500 名員工，還可能破壞其他立法工作，例如沃特斯與眾議院金融服務主席Patrick McHenry（北卡羅來納州共和黨議員）共同製定的穩定幣法案。

“Let me let you [in] on a secret that the big crypto doesn't want you to know even under this bill,” Waters said. “The CFTC does not get enough authority to regulate crypto in this bill.”

「讓我告訴你一個秘密，即使根據這項法案，大型加密貨幣也不想讓你知道，」沃特斯說。 “CFTC 在該法案中沒有獲得足夠的權力來監管加密貨幣。”

SEC Chair Gary Gensler has also said the effort would create more confusion and regulatory gaps than it closes. Gensler has said for years that the law is clear and that there should not be bespoke rules for crypto.

SEC 主席 Gary Gensler 也表示，這項努力將造成更多的混亂和監管漏洞，而不是其所能彌補的。 Gensler 多年來一直表示，法律是明確的，不應該為加密貨幣制定客製化規則。

Still, many in the crypto industry have viewed the bipartisan vote as a symbolic vote for crypto itself, perhaps a harbinger of a better future. The move comes just days after the House and Senate voted to repeal a controversial SEC accounting rule, which itself was seen as a sign that sanity will ultimately prevail.

儘管如此，加密產業的許多人仍將兩黨投票視為加密本身的象徵性投票，也許是更美好未來的預兆。就在幾天前，眾議院和參議院投票廢除了一項有爭議的美國證券交易委員會會計規則，該規則本身被視為理智最終將佔上風的跡象。

If there is a silver lining, many experts think FIT21 is likely to die on the vine. TD Cowen, for instance, said a few weeks ago the bill stood "no chance of becoming law in this Congress.”

如果還有一線希望的話，許多專家認為 FIT21 很可能會中途​​夭折。例如，TD Cowen 幾週前表示，該法案「沒有機會在本屆國會成為法律」。

So maybe this is one psyop worth celebrating?

那麼也許這是一場值得慶祝的心理戰？

Disclosure

揭露

Please note that our privacy policy, terms of use, cookies and do not sell my personal information policies apply. CoinDesk is an independently operated subsidiary of Digital Currency Group, which also owns or operates several other cryptocurrency-related businesses, including Genesis Trading, Block.one, steward of the EOSIO software, and Grayscale Investments.

請注意，我們的隱私權政策、使用條款、cookies 和不出售我的個人資訊政策均適用。 CoinDesk 是數位貨幣集團的獨立營運子公司，該集團還擁有或經營其他幾家與加密貨幣相關的業務，包括 Genesis Trading、Block.one、EOSIO 軟體管理員和 Grayscale Investments。