美國 SEC 2024 年概況及 2025 年預期

隨著 2025 年的到來，加密貨幣產業正在準備迎接重大的監管變化。美國證券交易委員會（SEC）正在經歷重大變革，這標誌著加密產業進入了新時代。

As 2025 begins, the crypto industry is preparing for major regulatory shifts. The U.S. Securities and Exchange Commission (SEC) is undergoing significant changes, promising a new era for crypto.

2025 年伊始，加密產業正為重大監管轉變做準備。美國證券交易委員會（SEC）正在經歷重大變革，預計將開啟加密貨幣的新時代。

Following Donald Trump's re-election and the appointment of pro-crypto leaders like Paul Atkins and David Sacks, expectations are running high.

在唐納德·川普連任並任命保羅·阿特金斯和大衛·薩克斯等支持加密貨幣的領導人之後，人們的期望越來越高。

Many see this as a turning point for the industry's future, especially after SEC Chair Gary Gensler's tough stance. His tenure was marked by regulatory uncertainty and legal battles with industry giants.

許多人認為這是該行業未來的轉捩點，特別是在 SEC 主席加里·詹斯勒 (Gary Gensler) 採取強硬立場之後。他的任期充滿了監管不確定性以及與產業巨頭的法律糾紛。

A振り返り of US SEC in 2024 and Anticipations for 2025

美國SEC 2024年回顧及2025年展望

Despite the milestones, 2024 was a turbulent year for the crypto industry. Bitcoin (BTC) hit the $100,000 mark for the first time ever.

儘管取得了里程碑式的成就，2024 年對於加密產業來說仍然是動蕩的一年。比特幣 (BTC) 首次突破 10 萬美元大關。

Moreover, Spot Bitcoin and Ethereum Exchange Traded Funds (ETFs) gained massive popularity with institutional adoption.

此外，現貨比特幣和以太坊交易所交易基金（ETF）因機構採用而廣受歡迎。

Significantly, the industry witnessed the fourth Bitcoin halving in Q2. These events showcased the maturing market. However, these milestones were overshadowed by persistent regulatory crackdowns.

值得注意的是，該行業在第二季度見證了第四次比特幣減半。這些事件展示了市場的成熟。然而，這些里程碑被持續的監管打壓所掩蓋。

Under Gary Gensler's leadership, the SEC took an aggressive approach to crypto, targeting major players like Ripple, Coinbase, and Uniswap. His claims that crypto was inherently linked to fraud caused a lot of tension in the industry.

在加里·根斯勒 (Gary Gensler) 的領導下，美國證券交易委員會 (SEC) 對加密貨幣採取了積極的態度，針對 Ripple、Coinbase 和 Uniswap 等主要參與者。他聲稱加密貨幣本質上與欺詐有關，這在行業內引起了極大的緊張。

Gensler's aggressive approach was met with heavy criticism from crypto proponents and political leaders.

Gensler 的激進做法遭到了加密貨幣支持者和政治領導人的嚴厲批評。

During his campaign, Donald Trump promised to fire Gensler and adopt a more innovation-friendly approach, giving crypto supporters hope.

在競選期間，唐納德·川普承諾解僱 Gensler 並採取更加有利於創新的方法，這給加密貨幣支持者帶來了希望。

After his victory, Gensler tendered his resignation, paving the way for Trump to appoint Paul Atkins as the new SEC Chair.

獲勝後，詹斯勒提出辭職，為川普任命保羅·阿特金斯擔任新任 SEC 主席鋪平了道路。

Anticipations for 2025 are high, with hopes that Paul Atkins' leadership will bring clarity to crypto regulation. Many believe he can protect investors while fostering innovation in the industry.

人們對 2025 年抱有很高的期望，希望保羅·阿特金斯 (Paul Atkins) 的領導能夠使加密貨幣監管變得更加清晰。許多人相信他可以保護投資者，同時促進產業創新。

Role of Paul Atkins and the Crypto Czar

保羅阿特金斯與加密貨幣沙皇的角色

Paul Atkins, a former SEC commissioner known for market-friendly policies, will lead the SEC for 4 years.

因市場友好政策而聞名的前 SEC 委員保羅·阿特金斯 (Paul Atkins) 將領導 SEC 四年。

Atkins is set to lead the SEC for 4 years, driving his vision of promoting innovation while protecting consumers.

阿特金斯將領導 SEC 四年，實現他在保護消費者的同時促進創新的願景。

His approach marks a clear shift from his predecessor's strict regulatory stance, which could signal a potential change in the SEC's approach to digital assets.

他的做法標誌著其前任嚴格監管立場的明顯轉變，這可能預示著 SEC 對數位資產的做法可能會改變。

In a bold move, Trump created a new role of "Crypto Czar."

川普採取了大膽舉措，創造了「加密貨幣沙皇」的新角色。

The incoming President appointed David Sacks, a tech investor, to oversee cryptocurrency and AI policies. Sacks will be in charge of shaping regulations in these fields.

即將上任的總統任命科技投資者戴維·薩克斯 (David Sacks) 負責監督加密貨幣和人工智慧政策。薩克斯將負責制定這些領域的法規。

Atkins aims to make the SEC more transparent and work with self-regulatory organizations.

阿特金斯旨在使 SEC 更加透明並與自律組織合作。

He will simplify rules to make them clear and fair while encouraging innovation, an approach that has garnered support from entrepreneurs and investors.

他將簡化規則，使其變得清晰和公平，同時鼓勵創新，這一做法得到了企業家和投資者的支持。

However, figures like Senator Elizabeth Warren criticized it, fearing it could weaken investor protection.

然而，參議員伊麗莎白·沃倫(Elizabeth Warren)等人士對此提出批評，擔心這會削弱投資者保護。

Crypto ETF Applications and the Road Ahead

加密貨幣 ETF 應用與未來之路

Under Gensler, the SEC was slow to approve Spot Bitcoin ETFs, but these ETFs were finally approved in late 2024, marking a key change.

在 Gensler 的領導下，SEC 批准現貨比特幣 ETF 的速度很慢，但這些 ETF 最終在 2024 年底獲得批准，標誌著關鍵的變化。

With Atkins at the helm, the crypto industry hopes for faster reviews of other crypto ETF proposals. This includes potential XRP and Solana (SOL) ETFs.

在阿特金斯的帶領下，加密產業希望能夠更快地審查其他加密 ETF 提案。這包括潛在的 XRP 和 Solana (SOL) ETF。

Market experts believe the new SEC leadership could pave the way for more opportunities for crypto investment and growth.

市場專家認為，新的 SEC 領導層可能為加密貨幣投資和成長提供更多機會。

By creating a friendlier regulatory climate, Atkins could attract institutional investors who were previously deterred by the SEC's approach.

透過創造更友善的監管環境，阿特金斯可以吸引先前因美國證券交易委員會的做法而望而卻步的機構投資者。

While challenges remain in striking a balance between innovation and investor protection, Atkins and Sacks can help the SEC find a better equilibrium.

儘管在創新和投資者保護之間取得平衡仍然存在挑戰，但阿特金斯和薩克斯可以幫助美國證券交易委員會找到更好的平衡。

The shift to a pro-crypto regulatory environment under Trump's presidency marks a pivotal moment for the crypto industry.

川普擔任總統期間向支持加密貨幣的監管環境的轉變標誌著加密貨幣行業的關鍵時刻。

As Bitcoin prices continue to rise and institutional interest in crypto grows, the revamped SEC under Paul Atkins has the power to transform the industry. His tenure could help position the United States as a world leader in blockchain innovation.

隨著比特幣價格持續上漲以及機構對加密貨幣的興趣不斷增長，保羅·阿特金斯領導下的改組後的美國證券交易委員會有能力改變這個行業。他的任期可能有助於將美國定位為區塊鏈創新的世界領導者。