誰將監管Meme Cryptos？

在加密貨幣世界中，Memecoins似乎在平行的宇宙中發展，在該宇宙中，法律與獲勝的彩票一樣。

In the realm of crypto, memecoins appear to be evolving in a parallel universe, where regulation is as scarce as a winning lottery ticket. Billions of dollars in losses are being incurred, yet regulators seem to be diverting their attention elsewhere. The latest example is the TRUMP token, which has seen $2 billion evaporate in a matter of weeks, leaving its investors worse off than a debt-ridden trader during a financial crisis. The question now is: who will regulate these meme cryptos?

在加密貨幣領域中，Memecoins似乎在平行的宇宙中正在發展，那裡的法規就像獲勝的彩票一樣稀缺。正在發生數十億美元的損失，但監管機構似乎正在將注意力轉移到其他地方。最新的例子是特朗普代幣，在幾週內蒸發了20億美元，這使投資者在金融危機期間比債務不滿的商人更糟。現在的問題是：誰將調節這些模因加密貨幣？

TRUMP, the 2 billion dollar rollercoaster

特朗普，200億美元的過山車

Launched on January 17, the TRUMP memecoin soared to $72.60 in 48 hours before plummeting 80%, going from a valuation of $14.5 billion to $3 billion. The result? 813,000 crypto investors were left devastated.

特朗普成人於1月17日推出，在48小時內飆升至72.60美元，在下跌80％之前，從145億美元的估值到30億美元。結果？ 813,000名加密投資者遭到破壞。

At the same time, the Trump Organization and its partners collected $100 million in trading fees. A jackpot for some, a catastrophe for others.

同時，特朗普組織及其合作夥伴收取了1億美元的交易費用。有些人的大獎，對其他人來說是一場災難。

A few figures to illustrate the extent of the disaster:

一些數字來說明災難的程度：

According to Hester Peirce, SEC Commissioner, these memecoins “likely do not fit within the current regulatory framework”. She believes that it is up to Congress or the CFTC (Commodity Futures Trading Commission) to address the issue.

SEC專員Hester Peirce表示，這些模因“可能不適合當前的監管框架”。她認為，這取決於國會或CFTC（商品期貨交易委員會）來解決該問題。

Nate Geraci, president of the ETF Store, shares her view:

ETF商店總裁Nate Geraci分享了她的觀點：

” Memecoins are more akin to collectibles than financial instruments”.

“模因更像收藏品，而不是金融工具”。

Who will regulate meme cryptos?

誰將監管Meme Cryptos？

Leaving the crypto market to self-regulate is like asking cats to supervise an aquarium. Lyn Alden, a macroeconomic analyst, points out that the same pattern keeps recurring with each cycle:

離開加密貨幣市場自我調節就像要求貓監督水族館。宏觀經濟分析師林恩·奧爾登（Lyn Alden）指出，相同的模式在每個週期中都反復出現：

” The same skeptics of traditional finance who mocked Bitcoin in 2017 because of ICOs, DeFi, and NFTs now reject it because of memecoins”.

“由於ICOS，DEFI和NFTS，由於Memecoins而拒絕了它，因此在2017年嘲笑比特幣的傳統金融懷疑論者。”

In essence, history repeats itself, and regulators are constantly playing catch-up.

從本質上講，歷史重複了自己，監管機構一直在追趕。

With the boom of ETFs on altcoins and meme cryptos under the Trump administration, the very definition of a financial asset could be changing. The SEC, under Biden's presidency, has considered bitcoin to be the only cryptocurrency that is definitively classified as a commodity.

隨著特朗普政府領導下的Altcoins和Meme Cryptos的ETF繁榮，金融資產的定義可能正在改變。在拜登（Biden）擔任總統任期的情況下，SEC認為比特幣是唯一被歸類為商品的加密貨幣。

But what about tomorrow? With ETFs on Solana, Dogecoin, and even TRUMP in the pipeline, the line between absurd speculation and recognized investment is becoming more blurred than an Airbnb rental agreement.

但是明天呢？憑藉有關Solana，Dogecoin甚至Trump在管道中的ETF，荒謬的猜測和公認的投資之間的界限變得比Airbnb的租賃協議變得更加模糊。

Ultimately, the crypto market remains a jungle, where a select few reap the profits while the masses are left to suffer the consequences. But when Elon Musk sees his father trying to raise $200 million with a questionable memecoin, it does raise a few eyebrows.

最終，加密貨幣市場仍然是一個叢林，在這裡，少數人從群眾那裡獲得了利潤，而群眾則遭受後果。但是，當埃隆·馬斯克（Elon Musk）看到他的父親試圖用可疑的成員籌集2億美元時，它的確引起了一些眉毛。

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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

區塊鍊和加密革命正在進行中！而那一天，將對這個世界上最脆弱的經濟感受到影響的那一天，我會說我在那裡是為了某事