美國證券交易委員會（SEC）努力跟上加密貨幣發展的步伐，敲響了警鐘

由於加密貨幣領域的快速發展，包括美國證券交易委員會（SEC）在內的監管機構在實施有效監管方面面臨挑戰。被稱為「加密貨幣媽媽」的專員 Hester Peirce 批評 SEC 的指導方針不明確以及由員工驅動的決策流程。她主張讓整個委員會更參與監管事務，並對 SEC 等小型機構的獨立性提出質疑，強調為加密行業運營的公司製定明確且一致的規則的必要性。

SEC's Struggle to Keep Pace with Crypto Evolution Raises Concerns

SEC 努力跟上加密貨幣發展的步伐引發擔憂

The Securities and Exchange Commission (SEC), a pivotal regulatory body in the United States, has drawn criticism from Commissioner Hester Peirce for its perceived inability to keep pace with the rapidly evolving crypto industry.

作為美國的重要監管機構，美國證券交易委員會 (SEC) 因無法跟上快速發展的加密貨幣行業的步伐而受到專員 Hester Peirce 的批評。

During a recent event organized by the Practicing Law Institute, Peirce, often referred to as the "Crypto Mom" due to her advocacy for financial innovation, expressed her reservations about the SEC's regulatory framework. Peirce highlighted the complexities and inconsistencies within the SEC's guidelines, which she believes hinder clarity and coherence within the securities sector.

在執業法律研究所最近組織的一次活動中，由於倡導金融創新而經常被稱為「加密貨幣媽媽」的皮爾斯表達了她對 SEC 監管框架的保留意見。 Peirce 強調了 SEC 指導方針的複雜性和不一致之處，她認為這阻礙了證券業的清晰度和一致性。

The commissioner emphasized the need for the SEC to involve the entire commission, not solely staff members, in the regulatory process. She questioned the efficacy of small regulatory agencies like the SEC, which are appointed by the executive branch and approved by Congress, yet designed to remain independent of specific administrations or political affiliations.

該專員強調，美國證券交易委員會需要讓整個委員會（而不僅僅是工作人員）參與監管過程。她質疑美國證券交易委員會等小型監管機構的效率，這些機構由行政部門任命並經國會批准，但其設計目的是保持獨立於特定政府或政治派別。

Peirce's criticisms extend to the SEC's failure in articulating clear and consistent regulations for businesses operating within the crypto space. Her dissent against the SEC's denial of the Winklevoss-owned Gemini's request for a Bitcoin-based exchange-traded fund (ETF) in 2018 garnered significant attention. Peirce not only advocated for the approval of the proposal but also accused the Commission of "engaging in merit regulation," which essentially prohibits individuals from investing in specific securities, even if they acknowledge the associated risks.

皮爾斯的批評延伸到美國證券交易委員會未能為加密貨幣領域運作的企業制定清晰一致的法規。她對美國證券交易委員會 (SEC) 拒絕 Winklevoss 旗下的 Gemini 在 2018 年提出的基於比特幣的交易所交易基金 (ETF) 的請求表示異議，引起了廣泛關注。皮爾斯不僅主張批准該提案，還指責委員會“參與績效監管”，這實質上禁止個人投資特定證券，即使他們承認相關風險。

The SEC's approval of a Bitcoin ETF in January 2022, despite opposition from some commissioners, further exacerbated the agency's stance on cryptocurrencies. The official statement accompanying the approval acknowledged the practical uses of certain digital assets, but simultaneously highlighted the prevalent use of Bitcoin for speculation and illicit activities, including money laundering, ransomware, and terrorist financing.

儘管遭到一些委員的反對，美國證券交易委員會還是在 2022 年 1 月批准了比特幣 ETF，這進一步加劇了該機構對加密貨幣的立場。批准的官方聲明承認了某些數位資產的實際用途，但同時強調了比特幣普遍用於投機和非法活動，包括洗錢、勒索軟體和恐怖主義融資。

Amidst the ongoing debate, SEC Chair Gary Gensler has requested additional funding to bolster the agency's regulatory capacity in light of the rapid advancements within the crypto landscape. The proposal seeks to add 148 staff members by 2025, increasing the total from 5,473 in 2024 to 5,621 in 2025.

在持續的爭論中，鑑於加密領域的快速發展，SEC 主席加里·詹斯勒 (Gary Gensler) 要求提供額外資金，以增強該機構的監管能力。該提案力求到 2025 年增加 148 名工作人員，使總數從 2024 年的 5,473 人增加到 2025 年的 5,621 人。

The Office of the General Counsel within the SEC has also requested two additional positions to support its whistleblowing program, which has witnessed a surge in activity. This increase in resources aims to address the rising number of civil and administrative litigation cases filed against the Commission.

SEC 總法律顧問辦公室還要求增加兩個職位來支持其舉報計劃，該計劃的活動激增。增加資源的目的是解決針對委員會提起的民事和行政訴訟案件數量不斷增加的問題。

Despite these efforts, concerns persist regarding the SEC's ability to effectively regulate the burgeoning crypto industry. Inconsistent data, coupled with the difficulty in monitoring numerous actors who may not be bound by conventional disclosure or reporting regulations, poses significant challenges for regulators.

儘管做出了這些努力，人們仍然對 SEC 有效監管新興加密產業的能力感到擔憂。數據不一致，加上難以監控眾多可能不受傳統揭露或報告法規約束的參與者，給監管機構帶來了重大挑戰。

Peirce's criticisms underscore the urgent need for the SEC to reassess its prohibition on Bitcoin- or crypto-based ETFs. The successful implementation of such ETFs in countries like Canada and Brazil serves as a testament to their feasibility and potential benefits for investors.

Peirce 的批評凸顯了 SEC 迫切需要重新評估其對比特幣或加密貨幣 ETF 的禁令。此類 ETF 在加拿大和巴西等國家的成功實施證明了其可行性和投資者的潛在利益。

The SEC's regulatory approach to cryptocurrencies has been a subject of intense scrutiny. The agency's perceived hesitation to embrace innovation, coupled with its inconsistent statements regarding the legality of certain digital assets, has led to uncertainty within the industry. As the crypto market continues to evolve at a rapid pace, the SEC faces the daunting task of balancing the need for consumer protection with the promotion of innovation and investment opportunities.

美國證券交易委員會對加密貨幣的監管方法一直受到嚴格審查。該機構在接受創新方面猶豫不決，加上其對某些數位資產合法性的聲明不一致，導致了行業內的不確定性。隨著加密貨幣市場繼續快速發展，美國證券交易委員會面臨著平衡消費者保護需求與促進創新和投資機會的艱鉅任務。