加密行业准备在特朗普的领导下进行监管改革

加密货币行业正在热切等待他长期承诺的监管改革的推出。据路透社报道，人们越来越期待旨在巩固美国作为数字资产全球领导者地位的潜在行政命令。

The cryptocurrency industry is eagerly awaiting the rollout of his long-promised regulatory overhaul.

加密货币行业正在热切等待他长期承诺的监管改革的推出。

According to Reuters, there is growing anticipation over potential executive orders aimed at cementing the U.S.’s role as a global leader in digital assets. Industry insiders are pushing for Trump to take immediate action on his first day in office, making good on his campaign promise to create a friendlier regulatory environment for the crypto sector.

据路透社报道，人们越来越期待旨在巩固美国作为数字资产全球领导者地位的潜在行政命令。业内人士正在敦促特朗普在上任第一天立即采取行动，兑现他为加密货币行业创造更友好的监管环境的竞选承诺。

A Strategic Bitcoin Reserve?

比特币战略储备？

One of the most anticipated moves is Trump’s proposed creation of a national Bitcoin reserve. During his campaign, Trump hinted at the idea of making Bitcoin a “strategic reserve asset.” This concept has already gained traction among some policymakers and crypto advocates. The Bitcoin Policy Institute, for example, has proposed an executive order under which the US government might invest up to $21 billion per year for five years to accumulate Bitcoin. This might substantially disrupt the cryptocurrency market by removing a large percentage of Bitcoin from circulation.

最令人期待的举措之一是特朗普提议建立国家比特币储备。在竞选期间，特朗普暗示了将比特币作为“战略储备资产”的想法。这一概念已经受到一些政策制定者和加密货币倡导者的关注。例如，比特币政策研究所提出了一项行政命令，根据该命令，美国政府可能在五年内每年投资高达 210 亿美元来积累比特币。这可能会导致大部分比特币退出流通，从而严重扰乱加密货币市场。

Zack Shapiro, head of policy at the Bitcoin Policy Institute, argued, “The U.S. should be ahead of the curve in acquiring bitcoin. If we wait too long, other nations could dominate this space.” Analysts argue on whether this can be accomplished through executive action or if legislation is needed, but the Bitcoin Act of 2024, which was introduced by Senator Cynthia Lummis, suggests that the Federal Reserve and Treasury buy 200,000 Bitcoin each year, with the possibility of acquiring up to 1 million Bitcoin by 2029.

比特币政策研究所政策主管扎克·夏皮罗 (Zack Shapiro) 认为，“美国在获取比特币方面应该走在前面。如果我们等待太久，其他国家可能会主宰这个领域。”分析人士争论这是否可以通过行政行动或是否需要立法来实现，但参议员 Cynthia Lummis 提出的《2024 年比特币法案》建议美联储和财政部每年购买 20 万个比特币，并有可能收购到 2029 年，比特币数量将达到 100 万个。

Crypto-Friendly Regulation

加密友好的监管

Trump’s administration is also anticipated to criticize the present regulatory climate, which many in the crypto business regard as inhibiting innovation. That came from the hardline approach the administration of President Joe Biden had on cryptocurrency, which led to the heavy hand of regulation that many argue has driven crypto businesses offshores. But Trump promised change. “There has been an effort to stifle innovation, but President Trump will keep his promise to promote American leadership in crypto,” said Brian Hughes, a spokesman for Trump’s transition team.

预计特朗普政府还将批评当前的监管环境，加密货币行业的许多人认为这种环境抑制了创新。这是由于乔·拜登总统的政府对加密货币采取的强硬态度，导致了严厉的监管，许多人认为这推动了加密业务的离岸化。但特朗普承诺做出改变。特朗普过渡团队发言人布莱恩·休斯 (Brian Hughes) 表示：“有人试图扼杀创新，但特朗普总统将信守承诺，提升美国在加密领域的领导地位。”

Trump’s pick to lead the SEC, Paul Atkins, was viewed as more lenient and pro-crypto, in contrast to the current head, Gary Gensler, who helmed several high-profile enforcement actions against crypto firms. Atkins, who had previously served as a commissioner at the SEC and before that had ties to the digital asset industry, voices support for common-sense regulations that foster innovation but protect investors.

特朗普选择领导 SEC 的保罗·阿特金斯 (Paul Atkins) 被视为更加宽容和支持加密货币，而现任主席加里·詹斯勒 (Gary Gensler) 则对加密货币公司发起了几项高调的执法行动。阿特金斯曾担任美国证券交易委员会委员，此前与数字资产行业有联系，他表示支持促进创新但保护投资者的常识性法规。

Crypto Industry Council and Banking Access

加密货币行业委员会和银行准入

In addition to his plans for a bitcoin reserve, Trump is reportedly considering the creation of a “crypto industry council.” This council would advise the government on matters related to digital assets and is seen as a step toward formalizing the U.S. government’s relationship with the crypto industry.

据报道，除了比特币储备计划之外，特朗普还考虑成立一个“加密货币行业委员会”。该委员会将就与数字资产相关的事宜向政府提供建议，并被视为美国政府与加密行业关系正式化的一步。

Another key issue for crypto firms is the lack of access to banking services. Many digital asset companies have complained about being unable to secure traditional banking relationships due to regulatory uncertainty. Trump has promised to prevent banks from “choking” crypto businesses and ensure that financial institutions provide services to firms that comply with the law. An executive order addressing this issue could signal a new era of collaboration between banks and crypto companies, although the practical impact might be limited, given the independence of banking regulators.

加密货币公司的另一个关键问题是缺乏银行服务。许多数字资产公司抱怨由于监管不确定性而无法确保与传统银行的关系。特朗普承诺防止银行“扼杀”加密货币业务，并确保金融机构向遵守法律的公司提供服务。解决这一问题的行政命令可能标志着银行和加密货币公司之间合作的新时代，尽管考虑到银行监管机构的独立性，实际影响可能有限。

Market Implications: Bitcoin Price Surge?

市场影响：比特币价格飙升？

The mere prospect of these changes has already had a significant impact on the cryptocurrency market. Bitcoin recently hit a record high of $107,000, and while its price has since dipped, the cryptocurrency community remains optimistic. Experts speculate that, if Trump successfully pushes through his crypto-friendly policies, bitcoin could experience even greater price appreciation. According to Perianne Boring, the founder of The Digital Chamber, “The sky’s the limit for Bitcoin because its supply is fixed while demand is increasing, sending its price skyrocketing if Trump’s policies pay off.”

这些变化的前景已经对加密货币市场产生了重大影响。比特币最近创下了 107,000 美元的历史新高，尽管其价格此后有所下跌，但加密货币社区仍然保持乐观。专家推测，如果特朗普成功推行他的加密货币友好政策，比特币的价格可能会经历更大的升值。 The Digital Chamber 创始人 Perianne Boring 表示，“比特币的发展前途无量，因为它的供应量是固定的，而需求却在增加，如果特朗普的政策奏效，比特币的价格就会飞涨。”

Bitcoin (BTC) price chart. Source: Bitcoin Liquid Index (BLX) via Brave new Coin

比特币（BTC）价格图表。资料来源：比特币流动性指数（BLX），来自 Brave new Coin

The highly-cited stock-to-flow model places the potential price of bitcoin at over $800,000 toward the close of 2025, though there is a prospect that could catapult its price up to $1 million per unit. A surge of this size will be enough not only to reshape digital assets but possibly fit in as integral in global finance systems.

被广泛引用的股票流量模型认为，到 2025 年底，比特币的潜在价格将超过 80 万美元，尽管其价格有可能飙升至每单位 100 万美元。这种规模的激增不仅足以重塑数字资产，还可能融入全球金融体系。

Early Action: Can Trump Deliver?

早期行动：特朗普能兑现承诺吗？

While Trump’s transition team has made bold promises, it remains unclear whether these executive orders can be implemented on Day 1. The legal complexities surrounding bitcoin’s status as a reserve asset and the challenges of regulating the crypto industry are significant hurdles. However, there is widespread belief within the industry that the president-elect’s actions could set the tone for his administration’s approach to digital assets.

尽管特朗普的过渡团队做出了大胆的承诺，但目前尚不清楚这些行政命令能否在第一天得到实施。围绕比特币作为储备资产地位的法律复杂性以及监管加密行业的挑战是重大障碍。然而，业内普遍认为，当选总统的行动可能会为其政府处理数字资产的方式定下基调。

As Rebecca Rettig, Chief Legal and Policy Officer at Polygon Labs, told Reuters, “It’s imperative that his first set of executive orders provides a roadmap, setting clear priorities for the

正如 Polygon Labs 首席法律和政策官丽贝卡·雷蒂格 (Rebecca Rettig) 告诉路透社的那样，“他的第一套行政命令必须提供一个路线图，为