第二秒加密特遣部队圆桌会议探讨了现有法规如何更好地促进加密资产交易

SEC的加密特遣部队主办的第二个圆桌会议是在华盛顿举行的，目的是解决现有的监管框架如何更好地促进美国的加密资产交易。

The second roundtable hosted by the SEC’s Crypto Task Force was held in Washington, focusing on how the existing regulatory framework can better facilitate crypto asset trading in the U.S.

SEC的加密特遣部队主持的第二个圆桌会议在华盛顿举行，重点是现有的监管框架如何更好地促进美国的加密资产交易

The session was presided over by Acting Chairman Mark Uyeda and included Commissioners Hester Peirce and Caroline Crenshaw. Titled "Between a Block and a Hard Place," the conference brought together key players from both traditional and crypto finance to devise practical solutions for integrating blockchain technology into current markets.

会议由代理主席马克·乌耶达（Mark Uyeda）主持，并包括委员Hester Peirce和Caroline Crenshaw。会议的标题为“街区和艰难的地方”，将来自传统和加密货币的主要参与者汇集在一起​​，以设计将区块链技术集成到当前市场的实用解决方案。

The panel members, representing a diverse range of institutions, were moderated by Nicholas Losurdo, a partner at Goodwin Procter LLP. Gregory Tusar, Coinbase’s Vice President of Institutional Product, provided perspective from one of the largest U.S. crypto exchanges.

代表各种机构的小组成员由Goodwin Procter LLP的合伙人Nicholas Losurdo主持。 Coinbase机构产品副总裁Gregory Tusar提供了美国最大的加密货币交易所之一的观点。

Highlighting the importance of crypto brokers registering with regulators for transparency and better oversight of the markets, President and CEO of Healthy Markets Association Tyler Gellasch also stated that brokers should know whom they are dealing with, as opposed to just encrypted information.

健康市场协会主席兼首席执行官泰勒·盖拉斯（Tyler Gellasch）强调了加密经纪人在监管机构中注册的加密经纪人的重要性，并且对市场的总裁兼首席执行官，也表示，经纪人应该知道他们正在与谁打交道，而不是刚刚加密的信息。

Jon Herrick, Chief Product Officer of the New York Stock Exchange, discussed the impact of ETF approvals, simplifying investor entry into digital assets through familiar and regulated avenues. He further noted that ETFs potentially enable traditional financial institutions to engage with digital assets in new ways, especially as collateral.

纽约证券交易所首席产品官乔恩·赫里克（Jon Herrick）讨论了ETF批准的影响，并通过熟悉和受监管的途径简化了投资者进入数字资产的影响。他进一步指出，ETF可能使传统的金融机构能够以新的方式参与数字资产，尤其是作为抵押品。

While Richard Johnson, founder and CEO of Texture Capital, and Dave Lauer, co-founder of Urvin Finance and We the Investors, contributed their insights on how markets might evolve to accommodate tokenized assets, Chief Legal Officer of Uniswap Labs Katherine Minarik offered a view of the DeFi industry and how decentralized platforms are structured differently than traditional exchanges.

纹理资本的创始人兼首席执行官理查德·约翰逊（Richard Johnson）以及Urvin Finance和我们的投资者的联合创始人戴夫·劳尔（Dave Lauer）对市场可能发展的洞察力，以适应代币资产，uniswap Labs的首席法律官Kathaterine Minarik的首席法律官Kkatherine Minarik提供了对Defi行业和未成年平台的观点，而不是传统的平台。

The session also benefited from the academic perspective of Christine Parlour, Finance and Accounting Chair at UC Berkeley, who spoke about structural changes needed for regulation to be more effective.

这次会议还从加州大学伯克利分校的克里斯汀（Christine Parlor），金融和会计主席的学术角度受益，后者谈到了监管所需的结构性变化以使其更加有效。

Adding their legal and institutional trading industry perspectives in the crypto sector were Chelsea Pizzola, Associate General Counsel at Cumberland DRW, and Austin Reid, FalconX Global Head of Revenue and Business.

切尔西·比佐拉（Chelsea Pizzola），Cumberland DRW的副法律顾问和Falconx全球收入和商业负责人Austin Reid，在加密货币领域增加了其法律和机构贸易行业的观点。

Commissioner Peirce, known for her interest in crypto, said she found the first roundtable useful in forming her opinion on when crypto assets would be subject to securities laws. She hoped this one would be equally fruitful, noting the variety of participants—from national securities exchanges and alternative trading systems to crypto-native companies.

Peirce专员以对加密货币的兴趣而闻名。她发现，她发现第一个圆桌会议在对加密货币资产何时受到证券法的意见形成意见。她希望这是同样富有成果的，并指出各种参与者 - 从国家证券交易所和替代交易系统到加密本地公司。

Richard Gabbert, the head of the Crypto Task Force, was said to be placing strong emphasis on investor-centric regulation.

据说加密特遣部队负责人理查德·加伯伯特（Richard Gabbert）非常重视以投资者为中心的监管。

The conversation pointed out that existing federal regulations were not written with blockchain and decentralized finance in mind, leading to misalignments between how crypto markets operate and how they are regulated.

对话指出，现有的联邦法规不是在牢记区块链和分散的财务上编写的，这导致加密市场的运作方式和如何受到监管之间的不对对准。

For example, it was noted that state-by-state licensing, a legacy issue in traditional finance, persists in the crypto domain. Many in the industry are advocating for one SEC license with which they can operate in all 50 states, which would ease compliance and make operating less cumbersome.

例如，人们注意到，逐个国家的许可（传统财务中的遗产问题）仍然存在于加密货币领域。该行业中的许多人都在提倡一个SEC许可证，他们可以在所有50个州开展业务，这将减轻合规性并使运营减少。

Panelists explained how current rules such as the order protection rule or prohibitions on listing unregistered securities pose problems when trying to bring tokenized securities into traditional markets.

小组成员解释了当前的规则，例如订单保护规则或禁止在试图将令牌证券带入传统市场时列出未注册证券的问题。

They also recognized that crypto platforms tend to have custody, clearing, and execution on the same platform, unlike the distinct systems in traditional finance.

他们还认识到，与传统金融的独特系统不同，加密平台往往在同一平台上具有监护权，清理和执行。

Despite these difficulties, there was optimism about the potential of blockchain to transform markets. From 24/7 trading via smart contracts to better collateral management and settlement of transactions, most industry leaders present view blockchain as a way to make financial systems more efficient.

尽管存在这些困难，但对区块链转变市场的潜力仍然存在乐观。从通过智能合约进行24/7全天候交易，到更好的抵押管理和交易结算，大多数行业领导者都将视图区块链作为一种使金融系统提高效率的方式。

The SEC is considering granting temporary exemptions to spur innovation while longer-term rules are being formulated.

SEC正在考虑在制定长期规则的同时授予启发创新的临时豁免。

In total, the roundtable highlighted the need for regulators and market participants to collaborate in developing a framework that benefits both innovation and investor protection.

总体而言，圆桌会议强调了监管机构和市场参与者在开发一个受益于创新和投资者保护方面的框架方面进行合作的需求。