XRP正在進行的監管戰及其對加密市場的潛在影響

在最近接受Paul Barron Network的採訪中，Bitwise首席投資官（CIO）Matt Hougan分享了他對XRP正在進行的監管戰的見解

In a recent interview with the Paul Barron Network, Bitwise Chief Investment Officer (CIO) Matt Hougan shared his insights on XRP's ongoing regulatory battle and its potential impact on the crypto market.

Bitwise首席投資官（CIO）Matt Hougan最近接受了Paul Barron網絡的一次採訪，分享了他對XRP正在進行的監管戰的見解及其對加密貨幣市場的潛在影響。

As the world's eighth-largest cryptocurrency, XRP has been embroiled in a legal dispute with the US Securities and Exchange Commission (SEC) since December 2020. The regulatory agency accused Ripple Labs, the company behind XRP, of conducting an unregistered securities offering. This legal overhang has limited XRP's growth within the US market, led to its delisting from several major exchanges, and kept investors on edge about its long-term viability.

作為世界第八大加密貨幣，XRP自2020年12月以來一直與美國證券交易委員會（SEC）捲入法律糾紛。監管機構指責XRP背後的公司（XRP）公司進行未註冊的證券產品。該法律懸垂的XRP在美國市場內的增長有限，導致其從幾次主要交易所脫穎而出，並在其長期生存能力方面使投資者處於邊緣狀態。

However, the lawsuit may be approaching its final ruling by April 16, 2024, according to Barron.

但是，根據巴倫（Barron）的說法，該訴訟可能會在2024年4月16日之前達成最終裁決。

As this milestone draws nearer, speculation surrounding XRP's trajectory is intensifying. During the interview, Hougan highlighted how the case's resolution could drastically change the perception of XRP in the crypto landscape and allow it to reclaim its position among top digital assets.

隨著這個里程碑的臨近，圍繞XRP軌蹟的猜測正在加劇。在採訪中，霍根（Hougan）強調了該案的決議如何大大改變加密景觀中XRP的看法，並允許其在頂級數字資產中恢復其地位。

"From my 30,000-foot view, specific to XRP, I think there’s a significant chunk of the crypto market that has sort of written it off or forgotten about it. And I think that part of the market is wrong," said Hougan.

Hougan說：“從我的30,000英尺視圖（特定於XRP）中，我認為加密市場中有很大一部分將其寫下來或遺忘了。而且我認為市場的一部分是錯誤的。”

Unlike Bitcoin (BTC) and Ethereum (ETH), which have seen significant institutional adoption, XRP has remained largely stagnant due to the SEC lawsuit. But if the legal battle concludes favorably, it could lead to unrestricted US adoption, unlocking institutional inflows and widespread market support.

與比特幣（BTC）和以太坊（ETH）不同，由於SEC訴訟，XRP在很大程度上仍然停滯不前。但是，如果法律鬥爭得以有利，它可能會導緻美國採用不受限制，釋放機構流入和廣泛的市場支持。

One of the biggest unknowns in the crypto industry is what XRP can accomplish on the global stage once it is free from legal constraints. While other digital assets like Bitcoin and ether have gained attention, XRP has long positioned itself as a key player in international remittances and liquidity solutions. However, its suppression by the SEC's litigation has prevented a full-scale evaluation of its real-world utility.

加密行業中最大的未知數之一是XRP一旦沒有法律限制，就可以在全球舞台上完成。儘管其他數字資產（例如比特幣和Ether）引起了人們的關注，但XRP長期以來一直將自己定位為國際匯款和流動性解決方案的關鍵參與者。但是，SEC訴訟的壓制阻止了對其現實世界實用程序的全面評估。

As the interview unfolded, Hougan noted that despite the prolonged lawsuit, XRP has continued to be a dominant force in certain markets, particularly in Japan, where institutional adoption has soared. According to reports, XRP has now surpassed Ethereum in Japanese investor holdings, largely due to SBI Holdings' aggressive integration of XRP into its digital banking ecosystem.

隨著採訪的展開，霍根（Hougan）指出，儘管訴訟延長，XRP仍在某些市場，尤其是在機構採用飆升的日本中繼續成為占主導地位的力量。據報導，XRP現在已經超過了日本投資者控股公司的以太坊，這在很大程度上是由於SBI Holdings將XRP的積極整合到其數字銀行生態系統中。

"SBI seems to be doing with XRP what Michael Saylor did with Bitcoin—strategically accumulating and positioning it for long-term institutional use," remarked Barron.

Barron說：“ SBI似乎正在與XRP進行邁克爾·賽勒（Michael Saylor）對比特幣所做的事情，從而使其累積並定位為長期機構使用。”

To which Hougan agreed, further reinforcing the argument that XRP's true value remains largely uncharted territory.

Hougan同意的是，進一步加強了XRP的真實價值在很大程度上沒有海域領域的論點。

"It’s going to be interesting to see what happens with that case. I think people are really underestimating the magnitude of that ruling in particular."

“看到這種情況會發生什麼會很有趣。我認為人們特別低估了該裁定的規模。”

While Bitcoin has been positioned as a store of value, a use case that major institutions like BlackRock and Fidelity have shown interest in, XRP's primary use case centers around seamless, cost-efficient cross-border payments—another area that financial institutions are keen on exploring. Should legal clarity emerge in the United States, giants like Bank of America and Citigroup could rapidly increase their adoption of XRP.

儘管比特幣已被定位為價值存儲，但貝萊德和富達等主要機構圍繞無縫，具有成本效益的跨境支付的主要用例表現出了一種用例，這是金融機構熱衷於探索的另一個領域。如果在美國出現法律清晰度，美國銀行和花旗集團等巨人可能會迅速增加對XRP的採用。

Another significant topic discussed was the potential for an XRP exchange-traded fund (ETF). While Hougan remained tight-lipped on Bitwise's specific plans for filing an XRP ETF with the SEC, he confirmed the firm's confidence in the asset's long-term viability.

討論的另一個重要主題是XRP交易所交易基金（ETF）的潛力。儘管Hougan在Bitwise向SEC提交XRP ETF的具體計劃中保持緊張，但他證實了該公司對資產長期可行性的信心。

"We don’t file for ETPs for fun. We file for them because we think they can launch, and we think there is a significant audience, and we think it’s an important asset."

“我們不會為ETP申請娛樂。我們為他們申請，因為我們認為他們可以啟動，我們認為有重要的受眾，我們認為這是一項重要的資產。”

The idea of a spot XRP ETF has gained traction in recent months, particularly following the approval of Bitcoin ETFs by major regulatory bodies. If XRP gains regulatory clarity, an ETF could serve as a significant catalyst for mass adoption, opening the floodgates for institutional investors who have previously been wary of regulatory risks.

近幾個月來，XRP ETF的斑點XRP ETF的想法已獲得了吸引力，尤其是在主要監管機構批准比特幣ETF之後。如果XRP獲得監管清晰度，ETF可以作為大規模收養的重要催化劑，為以前對監管風險保持警惕的機構投資者打開了閘門。

As the interview concluded, the conversation shifted towards the broader implications of the SEC case on the cryptocurrency market. With the April 16 ruling rapidly approaching, the fate of not only XRP but also the future trajectory of digital assets in the United States hangs in the balance.

隨著採訪的結論，對話朝著SEC案件對加密貨幣市場的更廣泛含義轉移。隨著4月​​16日的裁決迅速接近，不僅XRP的命運，而且在美國的數字資產的未來軌跡也懸而未決。