Ripple 技術長對擬議的質押法規的合法性提出質疑

Ripple 的 CTO David Schwartz 最近在 X 上就加密貨幣領域的質押監管進行了討論。施瓦茨認為，質押不是證券，因為沒有所有權轉移，也沒有投資報酬。他質疑有關證券的法規如何適用於質押，因為沒有出售或購買標的資產。這次討論凸顯了加密貨幣產業內關於質押和代幣化監管分類的持續爭論。

Ripple's Chief Technology Officer Questions Legality of Staking Regulations

Ripple技術長質疑質押監管的合法性

In the rapidly evolving landscape of cryptocurrency, the debate over staking has ignited intense discussions within the industry. Ripple, a globally renowned blockchain network utilized by traditional banks for cross-border settlements and remittance payments, has recently weighed in on the matter through its Chief Technology Officer, David Schwartz.

在加密貨幣快速發展的格局中，關於質押的爭論引發了業界的激烈討論。 Ripple 是全球知名的區塊鏈網絡，被傳統銀行用於跨境結算和匯款支付，最近透過其首席技術長 David Schwartz 介入了此事。

Schwartz sparked discourse on the social media platform 'X' after engaging with a post by user Molly Elmore, who raised concerns regarding the regulatory implications of staking in the crypto sector. Elmore questioned whether digital asset staking, which rewards validators using Proof-of-Stake (PoS) consensus mechanisms, could be categorized as a security, subject to regulations governing the sale and trading of securities.

施瓦茨在參與用戶 Molly Elmore 的帖子後在社交媒體平台“X”上引發了討論，該帖子對加密貨幣領域的監管影響提出了擔憂。 Elmore 質疑數位資產質押（使用權益證明（PoS）共識機制獎勵驗證者）是否可以被歸類為證券，並遵守證券銷售和交易的法規。

Responding to Elmore's post, Schwartz expressed skepticism about the rationale behind such a classification. He questioned the relevance of regulations restricting the sale of securities to specific accredited investors when staking is not a transaction involving the sale or purchase of a security. Schwartz further argued that staking is a service offered by the blockchain system itself, not a product sold by any entity.

在回應埃爾莫爾的帖子時，施瓦茨對這種分類背後的理由表示懷疑。他質疑當質押不涉及出售或購買證券的交易時，限制向特定合格投資者出售證券的法規的相關性。施瓦茨進一步認為，質押是區塊鏈系統本身提供的服務，而不是任何實體出售的產品。

"If staking is a security, why do rules around who can buy securities matter? Nobody sells or buys staking itself since it's a service provided by the system itself," Schwartz stated.

「如果質押是一種證券，為什麼關於誰可以購買證券的規則很重要？沒有人出售或購買質押本身，因為它是系統本身提供的服務，」施瓦茨說。

Expanding on his argument, Schwartz emphasized that token ownership and staking are distinct activities. Purchasing or selling a token does not constitute a securities transaction, he asserted, as tokens are not the subject of staking. Similarly, he dismissed the notion that companies providing staking services could be deemed issuers of securities since they do not generate revenue from the sale of such services.

施瓦茨擴展了他的論點，強調代幣所有權和質押是不同的活動。他聲稱，購買或出售代幣並不構成證券交易，因為代幣不是質押的標的。同樣，他駁斥了提供質押服務的公司可能被視為證券發行人的觀點，因為它們不會從銷售此類服務中產生收入。

"The token is not staking. So, buying or selling the token would not be a securities transaction. And no company's efforts provide revenue. So, a company selling staking services wouldn't be an issuer of a security," Schwartz wrote.

「代幣不是質押。因此，購買或出售代幣不會是證券交易。而且沒有公司的努力可以提供收入。因此，銷售質押服務的公司不會成為證券的發行人，」施瓦茨寫道。

The exchange of views continued, with Schwartz further clarifying that staking does not involve lending or borrowing of funds. Individuals who stake their assets retain ownership of them at all times. Additionally, he drew a distinction between loans and securities, emphasizing that loans do not qualify as securities unless they are intended to raise investment funds for the seller.

意見交換仍在繼續，施瓦茨進一步澄清，質押不涉及資金借貸。質押其資產的個人始終保留其所有權。此外，他對貸款和證券進行了區分，強調貸款不符合證券的資格，除非它們旨在為賣方籌集投資資金。

The debate over staking regulations comes at a time when the cryptocurrency industry faces increasing scrutiny from regulatory authorities. Notably, the U.S. Securities and Exchange Commission (SEC) recently pursued a $2 billion penalty against Ripple Labs, alleging violations of securities laws.

關於質押監管的爭論是在加密貨幣行業面臨監管機構越來越嚴格的審查之際發生的。值得注意的是，美國證券交易委員會 (SEC) 最近以違反證券法為由對 Ripple Labs 處以 20 億美元的罰款。

Amidst these developments, the crypto market has experienced volatility. In the past 24 hours, the market capitalization has declined by $75.219 billion, currently standing at $2.542 trillion. Despite the dip, the market cap has witnessed a significant 138.92% growth over the past six months.

在這些發展過程中，加密貨幣市場經歷了波動。過去24小時內，市值下跌752.19億美元，目前為2.542兆美元。儘管有所下降，但過去六個月市值仍大幅成長 138.92%。

Among the top gainers for the day is Core (CORE), which saw a surge of 61.30%, trading at $2.70 at the time of writing. Conflux (CFX), on the other hand, slipped by 13.54%, currently trading at $0.000008162.

當日漲幅最大的是 Core (CORE)，該股上漲 61.30%，截至撰寫本文時交易價格為 2.70 美元。另一方面，Conflux (CFX) 下跌 13.54%，目前交易價格為 0.000008162 美元。

Bitcoin, the market leader with a capitalization of $1.37 trillion, maintains its dominance at 51% of the crypto market. Maker (MKR), trading at $3,787.05, ranks second among the most valuable cryptocurrencies after Bitcoin.

比特幣是市場領先者，市值達 1.37 兆美元，在加密貨幣市場中保持著 51% 的主導地位。 Maker（MKR）的交易價格為 3,787.05 美元，在最有價值的加密貨幣中排名第二，僅次於比特幣。

The CoinMarketCap Fear and Greed Index currently indicates an atmosphere of "extreme greed" in the market. Analysts attribute this sentiment to the anticipation surrounding the potential approval of an Ether Spot ETF and the recent approval of a Bitcoin Spot ETF.

CoinMarketCap 恐懼和貪婪指數目前顯示市場存在「極度貪婪」的氛圍。分析師將這種情緒歸因於對以太幣現貨 ETF 可能獲得批准以及比特幣現貨 ETF 最近獲得批准的預期。

It is crucial to note that the views expressed in this article are solely for informational purposes and do not constitute financial or investment advice. Readers should conduct their own research and consult with qualified professionals before making any investment decisions.

需要注意的是，本文所表達的觀點僅供參考，並不構成財務或投資建議。在做出任何投資決定之前，讀者應自行研究並諮詢合格的專業人士。