Ripple首席技術官David Schwartz反對聲稱XRP是IMF新分類框架下的安全性

在國際貨幣基金組織對付款平衡和國際投資手冊（BPM7）的最新修訂之後，辯論發生了，這是第一個主要更新

In a recent development, Ripple’s Chief Technology Officer, David Schwartz, has pushed back against claims that XRP should be considered a security under the International Monetary Fund’s (IMF) newly updated financial classification framework.

在最近的一項發展中，Ripple的首席技術官David Schwartz反對認為應將XRP視為國際貨幣基金（IMF）新更新的金融分類框架的安全性。

The debate arose after the IMF completed the latest revision of its Balance of Payments and International Investment Manual (BPM7). This is the first major update since 2009, and it formally integrates cryptocurrencies into the global financial reporting system.

IMF完成了其付款餘額和國際投資手冊（BPM7）的最新修訂後，辯論發表。這是自2009年以來的第一個主要更新，它正式將加密貨幣整合到全球財務報告系統中。

The update, which began in 2009, also sparked discussions regarding the classification of various digital assets, including Ripple’s XRP.

該更新始於2009年，還引發了有關各種數字資產（包括Ripple XRP）分類的討論。

However, Schwartz challenged the IMF’s definition of utility tokens, which he believes could be misconstrued to suggest that XRP qualifies as a security.

但是，施瓦茨（Schwartz）對國際貨幣基金組織對公用事業令牌的定義提出了質疑，他認為這可能會被誤解，以表明XRP符合安全性。

According to BPM7, digital assets are categorized based on whether they create a financial claim or liability for their issuer. For instance, Bitcoin is excluded from this classification due to its decentralized mining mechanism.

根據BPM7的數據，數字資產是根據它們對發行人創造財務索賠還是責任的分類。例如，由於其分散的採礦機制，將比特幣排除在此分類之外。

But the IMF’s stance implies that utility tokens, commonly used to facilitate access to digital goods and services, could be categorized as debt securities. This claim has fueled speculation about XRP’s status.

但是，國際貨幣基金組織的立場意味著，通常用於促進獲得數字商品和服務的公用事業令牌可以歸類為債務證券。這一主張引發了人們對XRP狀態的猜測。

Responding to online commentary that joked, “XRP is about to be permanently labeled a security,” Schwartz made a critical observation.

施瓦茨對在線評論的回應說：“ XRP即將被永久標記為安全性。”

If XRP fits this description simply because it can be used for transaction fees, then Bitcoin and Ethereum would also qualify under the same definition.

如果XRP僅僅因為可以用於交易費用而擬合此描述，則比特幣和以太坊也將在相同的定義下符合條件。

If XRP is a utility token because you can use it to pay future transaction fees, then so are BTC and ETH.

如果XRP是實用程序代幣，因為您可以使用它來支付未來的交易費用，那麼BTC和ETH也是如此。

— David "JoelKatz" Schwartz (@JoelKatz) March 23, 2025

- David“ Joelkatz” Schwartz（@Joelkatz）2025年3月23日

His comments raise a broader question about the IMF’s classification system—one that could inadvertently place major blockchain networks like Ethereum and Solana under the same regulatory scrutiny.

他的評論提出了關於IMF的分類系統的更廣泛的問題，該系統可能會無意中將以太坊和Solana等主要區塊鍊網絡置於同一監管審查下。

According to the Minerals Processing Institute, Inc (MPI), the price of copper has risen rapidly in recent months due to supply chain disruptions caused by the coronavirus pandemic.

根據礦產加工研究所（MPI）的數據，由于冠狀病毒大流行造成的供應鏈中斷，銅的價格在最近幾個月迅速上漲。

Rising copper prices have also put pressure on downstream industries, but the good news is that copper prices are expected to stabilize in the second half of the year as the pandemic subsides and economies recover.

銅價上漲也給下游行業施加了壓力，但好消息是，隨著大流行的補貼和經濟的恢復，銅價預計將在下半年穩定。

Copper prices are expected to remain elevated in the medium term due to strong demand from the electric vehicle industry and other renewable energy technologies.

由於電動汽車行業和其他可再生能源技術的需求強勁，預計中期銅價將保持上升。

In addition, copper is a key component in many manufacturing industries, and as the global economy recovers, we can expect to see increased demand for copper.

此外，銅是許多製造業的關鍵組成部分，隨著全球經濟的恢復，我們可以期望看到對銅的需求增加。

Overall, copper prices are expected to remain volatile in the short term, but the long-term outlook for copper prices is positive.

總體而言，銅價在短期內保持波動，但銅價的長期前景是正面的。

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Are Any Major Cryptos True ‘Debt Securities’

是否有任何主要的加密貨幣真實的“債務證券”

Schwartz further noted that, based on the IMF’s definition, no widely recognized cryptocurrency truly fits the criteria of a security-like utility token.

Schwartz進一步指出，基於IMF的定義，沒有廣泛認可的加密貨幣真正符合類似安全的實用程序令牌的標準。

His response reflects concerns that broad-stroke regulatory definitions could mischaracterize the actual function of these assets.

他的回應反映了擔憂，即廣泛的監管定義可能會誤解這些資產的實際功能。

This latest debate over XRP’s classification unfolds against the backdrop of Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).

關於XRP分類的最新辯論是在Ripple與美國證券交易委員會（SEC）進行的法律鬥爭的背景下進行的。

The lawsuit, which began in 2020, revolves around whether XRP was unlawfully sold as an unregistered security. A pivotal court ruling in 2023 found that while Ripple’s direct sales to institutional investors violated securities laws, its broader programmatic sales did not.

該訴訟始於2020年，圍繞著XRP是否以未註冊的安全性出售。一項關鍵的法院裁決在2023年發現，儘管Ripple向機構投資者的直接銷售違反了證券法，但其更廣泛的計劃銷售卻沒有。

As the case nears its conclusion, Ripple’s legal stance—and regulatory clarity on how digital assets are classified—could shape the future landscape for XRP and the broader cryptocurrency market.

隨著案件的結論，Ripple的法律立場以及對數字資產如何分類的監管明確性 - 可以塑造XRP和更廣泛的加密貨幣市場的未來景觀。

: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

：該內容旨在告知，不應被視為財務建議。本文中表達的觀點可能包括作者的個人意見，並且不代表小報的觀點。在做出任何投資決策之前，敦促讀者進行深入研究。讀者採取的任何行動都嚴格符合他們自身的風險。時代小報對任何財務損失概不負責。

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