SEC將很快就一項協議投票，以放棄對Coinbase的法律追求，該公司的頂級律師說

待決的投票將標誌著一個分水嶺，這可能會開始一系列法律多米諾骨牌，以使其他加密貨幣業務擺脫執法行動。

The U.S. Securities and Exchange Commission will vote soon on a deal negotiated with Coinbase to entirely drop the agency's legal pursuit of the crypto exchange, according to the company's top lawyer.

該公司的頂級律師說，美國證券交易委員會將很快就與Coinbase商定的一項協議進行投票，以完全放棄該機構對加密貨幣交易所的法律追求。

While the SEC has been making moves almost daily to reverse past positions on digital assets, the pending vote would mark a watershed moment that could start a series of legal dominoes to free other crypto businesses from enforcement actions. Because the deal between Coinbase and SEC staff assumes a dismissal of the case "with prejudice," said Coinbase Chief Legal Officer Paul Grewal, the regulator's accusations of securities violations would be shut down permanently.

儘管SEC幾乎每天都在採取行動，以扭轉數字資產的過去職位，但待定的投票將標誌著一個分水嶺的時刻，可以開始一系列合法的多米諾骨牌，以使其他加密貨幣業務擺脫執法行動。 Coinbase首席法律官Paul Grewal說，由於Coinbase與SEC工作人員之間的交易“有偏見”駁回了案件，因此監管機構對證券違法行為的指控將被永久關閉。

"It's a great day for Coinbase, yes, but it's also a great day for crypto in America," Grewal said in an interview with CoinDesk. "We have every expectation, based on representations that have been made to us, that that approval will come, and with that, the dismissal will then be filed."

格雷瓦爾在接受Coindesk採訪時說：“是的，這是Coinbase的美好一天，但這也是美國加密貨幣的好日子。” “根據對我們的陳述，我們對該批准將會得以實現，隨之而來的是，將被解僱。”

He restated it in simpler terms: "We win; they lose."

他用更簡單的話進行了重述：“我們贏了；他們輸了。”

When the SEC first went after Coinbase — the most prominent of the U.S.-based crypto platforms — it represented a shot across the bow of the industry. The SEC alleged Coinbase violated federal law by not registering as a clearing house, broker or trading venue, based on the agency's view of the so-called Howey test that determines whether an asset is a security. The company chose to fight the accusations in federal court, and that legal clash had been fierce, most recently seeing a judge side with Coinbase's effort to elevate an appeal of the central question at dispute: Are these tokens being traded really securities under the SEC's jurisdiction?

當SEC首次追隨Coinbase（美國最傑出的加密平台）時，它代表了整個行業的槍擊。 SEC據稱的Coinbase根據機構對所謂的Howey測試的看法，違反了聯邦法律，該法律未註冊為交換所，經紀人或交易場所，該測試決定了資產是否是安全性。該公司選擇與聯邦法院的指控作鬥爭，而法律衝突是激烈的，最近看到法官方面，Coinbase努力提高爭議中的核心問題的上訴：這些代幣是否在SEC管轄權下進行了真正的證券交易。 ？

The industry had long expected it might have to wait for the courts — eventually even the U.S. Supreme Court — to rule on former SEC Chair Gary Gensler's assertion that most tokens are actually crypto securities. But the surrender of the SEC in this dispute is likely to be echoed in other cases, which would put the final word on the legal definition into the hands of Congress.

長期以來，該行業一直期望它可能需要等待法院（最終甚至美國最高法院）就裁定前美國證券交易委員會主席Gary Gensler關於大多數代幣實際上是加密證券的斷言。但是，在其他情況下，SEC在這一爭端中的投降很可能會迴盪，這將使法律定義的最終詞交給國會手中。

So, the commission vote could throw the industry's major focus toward lobbying instead of legal wrangling.

因此，委員會的投票可以將行業的主要關注點放在遊說而不是法律爭吵上。

The enforcement meetings for the SEC — currently made up of Acting Chairman Mark Uyeda, Republican Commissioner Hester Peirce and Democrat Commissioner Caroline Crenshaw — typically take place on Thursdays, so the final decision on the staff recommendation may be delayed as long as a week. Crenshaw has been a vocal skeptic of the digital assets industry and its compliance, so it remains unclear whether she'd be willing to sign off on the dismissal.

SEC的執法會議- 目前由代理主席馬克·烏耶達（Mark Uyeda），共和黨專員赫斯特·皮爾斯（Hester Peirce）和民主黨專員卡羅琳·克倫肖（Caroline Crenshaw）組成- 通常在星期四舉行，因此，對員工建議的最終決定可能會延遲一周。 Crenshaw一直是數字資產行業及其合規性的聲音懷疑論者，因此尚不清楚她是否願意在解僱上簽字。

The SEC didn't immediately respond to a request for comment on the agreement.

SEC沒有立即回應就協議發表評論的請求。

Uyeda and Peirce, who was named the head of the agency's new Crypto Task Force, had long been sympathetic to the digital assets industry's contention it was being mishandled by the SEC. Once Donald Trump was sworn in as president, he gave the agency's gavel to Uyeda on an interim basis, and Uyeda began making swift moves to shift its course on crypto. This is the latest and — assuming a yes vote — arguably the most significant of the changes so far.

烏耶達（Uyeda）和皮爾斯（Peirce）被任命為該機構新加密特遣部隊的負責人，長期以來一直同情數字資產行業的爭論，這是由SEC犯下的。一旦唐納德·特朗普（Donald Trump）宣誓就職，他將該機構的木槌臨時將其木屋交給了烏耶達（Uyeda），烏耶達（Uyeda）開始迅速採取行動，將其在加密貨幣上轉移。這是迄今為止最重要的變化，這是最新的，並且假設是“是”投票。

Eventually, former Commission Paul Atkins will take over after he secures a Senate confirmation. But Uyeda and Peirce both served Atkins as counsels during his tenure at the SEC, so Atkins is generally expected to follow the same path on crypto that Uyeda is already clearing.

最終，前保羅·阿特金斯（Paul Atkins）獲得參議院確認後將接管。但是烏耶達（Uyeda）和皮爾斯（Peirce）在SEC任職期間都擔任阿特金斯（Atkins）擔任諮詢局，因此普遍期望阿特金斯（Atkins）在加密貨幣上遵循與烏耶達（Uyeda ）已經清算的同樣的道路。

Earlier this week, the agency shifted its enforcement unit — once laser-focused on crypto — to a wider responsibility over "emerging technologies," suggesting a withdrawal from the era of heavy attention on crypto cases. It also dropped its appeal in the fight to defend its effort to force a wide swath of crypto activity into its recent rule to expand the definition of what makes a "dealer" under SEC oversight.

本週早些時候，該機構將其執法部門（曾經以激光專注於加密貨幣為重點）轉移到對“新興技術”的更大責任，這表明從對加密貨幣案件的大量關注時代撤出了。它還在為捍衛將廣泛的加密活動迫使其努力辯護的鬥爭中的鬥爭中放棄了，以擴大對SEC監督下成為“經銷商”的定義的定義。

In another marquee crypto case, the regulator recently asked to hit pause on the Binance enforcement dispute. Those accusations of securities-law violations overlapped to some degree with the complaint against Coinbase, though the Binance suit also included accusations of fraud and conflicts of interest.

在另一個侯爵夫人的加密案件中，監管機構最近要求對義務執法糾紛暫停。這些指控違反證券法的指控在一定程度上與針對Coinbase的投訴重疊，儘管Binance訴訟還包括欺詐和利益衝突的指控。

The SEC had similarly signaled last week that something was brewing with Coinbase when it asked for a delay in court proceedings, suggesting negotiations were underway toward a resolution and signaling the agency's new crypto task force would help the enforcement team come up with a "potential resolution."

SEC上周同樣向SEC表示，當它要求延遲法院訴訟時，它與Coinbase釀造了一些東西，這表明正在進行解決方案的談判，並表示該機構新的加密特遣部隊的新加密工作組有助於執法團隊提出“潛在的解決方案” 。”

In the coming days, lawyers across the industry will watch the SEC's Coinbase vote, and then the judge's response in the U.S. District Court for the Southern District of New York. If the SEC formally backs off the accusations Coinbase improperly listed unregistered securities, it'll have to do the same in any similar cases.

在接下來的幾天裡，整個行業的律師將觀看SEC的共同票數，然後在紐約南部地區的美國地方法院對法官的回應。如果SEC正式退出指控Coinbase不當列出的未註冊證券，則在任何類似情況下，它都必須這樣做。

"I'm hopeful that our getting this case dismissed will offer up a template for other cases to be resolved as well," Grewal said. "And if that were the case, we'd be delighted, because we felt that Gary Gensler's entire campaign against crypto was a distortion — frankly, an

格雷瓦爾說：“我希望我們被駁回的案件將提供一個模板，以便解決其他案件。” “如果是這樣的話，我們會很高興，因為我們認為加里·蓋斯勒（Gary Gensler