CFTC 重新引发加密货币分类争论：以太币的命运悬而未决

美国商品期货交易委员会（CFTC）已将以太坊和其他几种加密货币归类为商品，在围绕数字资产监管的持续监管斗争中重申了其立场。在针对 KuCoin 交易所运营商的诉讼中，CFTC 律师宣布比特币、以太币和莱特币为商品，将其置于该机构的管辖范围内。这一最新举措凸显了 CFTC 和 SEC 之间围绕数字资产行业监管正在进行的拉锯战。

Can Ether Be Classed As a Commodity or Security?

以太币可以归类为商品或证券吗？

The Commodity Futures Trading Commission (CFTC) has reignited the debate over the classification of cryptocurrencies, specifically Ether (ETH), as commodities or securities. In a lawsuit against crypto exchange Kucoin, the CFTC asserted that Bitcoin (BTC), Ether, and Litecoin (LTC) fall under its jurisdiction as commodities.

商品期货交易委员会（CFTC）重新引发了有关加密货币（特别是以太币（ETH））作为商品或证券分类的争论。在针对加密货币交易所 Kucoin 的诉讼中，CFTC 声称比特币 (BTC)、以太币和莱特币 (LTC) 作为商品属于其管辖范围。

CFTC's Argument on Commodities

CFTC 关于商品的论点

The CFTC's complaint alleges that Kucoin facilitated trading in futures, swaps, and leveraged transactions involving digital assets classified as commodities, including BTC, ETH, and LTC. According to CFTC lawyers, these assets are subject to the agency's oversight as they are considered goods or raw materials traded on exchanges.

CFTC 的投诉称，Kucoin 促进了涉及归类为商品的数字资产（包括 BTC、ETH 和 LTC）的期货、掉期和杠杆交易。 CFTC 律师表示，这些资产受到该机构的监管，因为它们被视为在交易所交易的商品或原材料。

Clash of Regulators: CFTC vs. SEC

监管机构的冲突：CFTC 与 SEC

Over the past years, the CFTC and the Securities and Exchange Commission (SEC) have been engaged in a turf war over the regulation of the burgeoning digital asset industry. CFTC Chairman Rostin Behnam has publicly declared Ether as a commodity, while SEC Chairman Gary Gensler has hinted at the possibility of classifying Ether as a security due to its use in staking protocols.

过去几年，美国商品期货交易委员会（CFTC）和美国证券交易委员会（SEC）一直在围绕新兴数字资产行业的监管展开地盘争夺战。 CFTC 主席 Rostin Behnam 公开宣称 ETH 是一种商品，而 SEC 主席 Gary Gensler 则暗示由于 ETH 在质押协议中的使用，有可能将 ETH 归类为证券。

SEC's Ambiguity on Ether

SEC 对以太币的模糊性

Despite Gensler's previous comments, the SEC has yet to make an explicit determination on Ether's status. The agency is tasked with regulating securities, which are defined as investments with the expectation of profit from the efforts of others. Whether Ether meets this definition remains an open question.

尽管 Gensler 之前发表了评论，但 SEC 尚未对 ETH 的地位做出明确的决定。该机构的任务是监管证券，证券被定义为期望从他人的努力中获利的投资。以太币是否符合这个定义仍然是一个悬而未决的问题。

Ethereum's Shift to Proof of Stake

以太坊向权益证明的转变

Ether's classification becomes even more intricate with Ethereum's recent transition to a proof-of-stake consensus mechanism. This shift has raised questions about whether the token's characteristics align more closely with commodities or securities.

随着以太坊最近向权益证明共识机制的转变，以太坊的分类变得更加复杂。这种转变引发了人们的疑问：代币的特征是否与商品或证券更接近。

Proof of Work vs. Proof of Stake

工作量证明与权益证明

Bitcoin and Litecoin still operate on a proof-of-work consensus mechanism, which involves mining to verify transactions. In contrast, Ether's proof-of-stake mechanism involves holding and staking coins to validate transactions. This difference could potentially affect its classification under the SEC's framework.

比特币和莱特币仍然采用工作量证明共识机制，其中涉及挖掘来验证交易。相比之下，以太坊的权益证明机制涉及持有和质押代币来验证交易。这种差异可能会影响其在 SEC 框架下的分类。

Conclusion

结论

The regulatory landscape for cryptocurrencies remains complex and fluid. The CFTC's latest assertion of Ether as a commodity adds another layer to this ongoing debate. As the digital asset industry evolves, it remains to be seen how regulators will ultimately classify Ether and other cryptocurrencies, with far-reaching implications for their regulation and oversight.

加密货币的监管环境仍然复杂且不稳定。美国商品期货交易委员会 (CFTC) 最新将以太币视为商品的主张为这场持续不断的争论增添了另一层内容。随着数字资产行业的发展，监管机构最终将如何对以太币和其他加密货币进行分类，这对其监管和监督产生深远影响，仍有待观察。