继美国加密货币景观的最新发展之后，潮汐可能正在转变

正如唐纳德·特朗普总统的政府似乎对加密货币法规的更开放的立场一样

Following recent developments in the U.S. crypto landscape, President Donald Trump’s administration has seemingly signaled a more open stance towards cryptocurrency regulation, potentially shifting the tides in the industry.

根据美国加密货币景观的最新发展，唐纳德·特朗普总统的政府似乎表明了对加密货币监管的更加开放的立场，可能会改变行业的潮流。

As the Securities and Exchange Commission (SEC) recently decided to drop lawsuits against major players like Coinbase (NASDAQ:COIN) and Robinhood Crypto, a subsidiary of Robinhood Markets (NASDAQ:HOOD), after a series of setbacks in its efforts to regulate the sector, there could be a potential shift in policy direction.

由于证券交易委员会（SEC）最近决定对Robinhood Markets（Nasdaq：Hood）的子公司Coinbase（NASDAQ：COIN）和Robinhood Crypto等主要参与者提起诉讼，此前它努力规范该行业的努力，可能会在政策方向上发生潜在的转移。

Following the SEC’s withdrawal from these legal battles, which also included the conclusion of an investigation into Uniswap Labs, a factor that might be linked to a broader decline in market confidence, Bitcoin (BTC) experienced a 20% downturn from its peak of $109,114 to $87,000.

在SEC退出了这些法律斗争之后，这还包括对UNISWAP实验室进行调查的结论，这一因素可能与市场信心的较大下降有关，比特币（BTC）从109,114美元的峰值到87,000美元的峰值下降了20％。

This signals that while investors are growing tired of unpredictability, they ultimately care more about the overall health of the marketplace than the fortunes of individual companies.

这表明，尽管投资者越来越厌倦了不可预测性，但他们最终比单个公司的命运更关心市场健康状况。

A common thread that has been pointed out by several observers is the financial backing that various cryptocurrency entities extended to Trump. Notably, Coinbase and Robinhood made substantial donations to Trump’s campaign, while Uniswap contributed to a pro-crypto political action committee (PAC) to the tune of $116 million.

几位观察家指出的一个共同点是，各种加密货币实体扩展到特朗普的财务支持。值得注意的是，Coinbase和Robinhood向特朗普的竞选活动捐款大量捐款，而UNISWAP则为亲克莱托普政治行动委员会（PAC）做出了贡献，达到了1.16亿美元。

This begs the question of whether these contributions influenced decisions at the regulatory level or if this shift is merely coincidental.

这就提出了一个问题，即这些贡献是否影响了监管层面的决策，还是仅仅是偶然的转变。

One potential litmus test for gauging the Trump administration’s approach to crypto will involve examining key regulatory parameters.

测量特朗普政府对加密货币的方法的潜在测试测试将涉及检查关键监管参数。

The changing landscape might hinge on how the SEC defines token securities, a matter of critical importance as the previous administration signaled intent to classify a majority of tokens as securities.

不断变化的景观可能取决于SEC如何定义代币证券，这是至关重要的问题，因为上一届政府指出了将大多数代币分类为证券的意图。

Such classifications pose significant challenge for developers, as legal risks concerning unregistered securities loom heavily over them.

这种分类对开发人员构成了重大挑战，因为关于未注册证券的法律风险在它们上迫在眉睫。

Conversely, the Commodity Futures Trading Commission (CFTC) could play a pivotal role. If the CFTC assumes regulatory oversight of crypto, a less aggressive regulatory framework could emerge, thus granting crypto companies greater freedom and encouraging innovation within the U.S. market.

相反，商品期货贸易委员会（CFTC）可以发挥关键作用。如果CFTC对加密货币进行监管监督，则可能会出现一个不太积极的监管框架，从而赋予加密货币公司更大的自由和鼓励在美国市场内的创新。

Observers should be watchful of any actions taken by the CFTC that could signal a more accommodating environment for digital assets.

观察者应注意CFTC采取的任何动作，这可能表明数字资产的环境更可容纳。

Another crucial aspect to monitor is the evolving role of stablecoins. Adoption of these cryptocurrencies may serve as a cornerstone for expanding crypto payments, especially among small and medium-sized businesses (SMBs).

监测的另一个关键方面是稳定菌的不断发展的作用。采用这些加密货币可能是扩大加密货币付款的基石，尤其是中小型企业（SMB）。

These companies often gravitate towards stablecoins for crypto transactions, yet they require a clear regulatory framework to navigate the potential risks. Establishing a dedicated legal approach to stablecoins can instill confidence among businesses, promoting a smoother transition to crypto payments.

这些公司经常倾向于进行加密交易的Stablecoins，但它们需要一个明确的监管框架来驾驶潜在的风险。建立专门的法律方法来稳定稳定的企业之间的信心，从而促进过渡到加密货币付款。

Yet another significant hurdle for the crypto sector encompasses banking access. Many crypto businesses struggle to secure traditional banking relationships, confronting high-service fees as banks perceive substantial risks associated with money laundering.

加密货币部门的另一个重大障碍包括银行业务。许多加密货币企业都在努力确保传统的银行关系，而当银行认为与洗钱相关的重大风险时，高级服务费。

For the crypto ecosystem to mature, financial institutions must adopt a more collaborative approach with crypto firms. A favorable shift from the Financial Crimes Enforcement Network (FinCEN) regarding its risk assessment guidelines could incentivize banks to engage more constructively with the crypto industry.

对于加密生态系统到成熟的生态系统，金融机构必须与加密公司采用更协作的方法。从金融犯罪执法网络（FINCEN）就其风险评估指南的有利转变可能会激励银行更建设性地与加密行业互动。

Despite the apparent shift towards a more favorable regulatory environment, uncertainty remains prevalent. The crypto landscape in the U.S. stands at a crossroads, where the actions of the CFTC, FinCEN, and potential regulatory changes could significantly influence the trajectory of digital assets.

尽管明显转向更有利的监管环境，但不确定性仍然普遍存在。美国的加密景观位于十字路口，CFTC，FinCen和潜在的监管变化的行动可能会严重影响数字资产的轨迹。

Engaging with these regulatory bodies will prove crucial for stakeholders seeking clarity on the government’s intentions towards cryptocurrencies in the Trump era.

与这些监管机构互动对寻求政府对特朗普时代加密货币的意图的利益相关者的意图证明至关重要。