美国证券交易委员会在拟议的修订投诉中对币安的代币上市和交易流程进行更严格的审查

美国证券交易委员会周四提交了针对币安的拟议修改投诉，重点关注该交易所的代币上市流程。

The U.S. Securities and Exchange Commission (SEC) has filed a proposed amended complaint in its lawsuit against crypto exchange Binance, adding detail to its allegations about the exchange's listing and trading of various tokens – including BNB, its native coin – and how the regulator thinks the company promotes investments in these tokens.

美国证券交易委员会 (SEC) 在针对加密货币交易所 Binance 的诉讼中提出了拟议的修订起诉书，详细说明了对该交易所上市和交易各种代币（包括其原生代币 BNB）的指控，以及监管机构的看法该公司促进对这些代币的投资。

The SEC first sued Binance in June 2023, alleging the exchange was operating as an unregistered broker, clearinghouse and trading venue, offered unregistered securities through BNB and the BUSD stablecoin, as well as its staking service. Binance, Binance.US (otherwise known as BAM Trading) and Binance executives moved to dismiss the lawsuit. Judge Amy Berman Jackson, in a June 2024 ruling, dismissed charges tied to Binance's Simple Earn product and secondary BNB sales, but allowed most of the SEC's charges to proceed.

美国证券交易委员会 (SEC) 于 2023 年 6 月首次起诉币安，指控该交易所作为未注册经纪商、清算所和交易场所运营，通过 BNB 和 BUSD 稳定币及其质押服务提供未注册证券。币安、Binance.US（也称为 BAM Trading）和币安高管提出驳回诉讼。法官艾米·伯曼·杰克逊 (Amy Berman Jackson) 在 2024 年 6 月的一项裁决中驳回了与币安 Simple Earn 产品和二级 BNB 销售相关的指控，但允许 SEC 的大部分指控继续进行。

However, in a July 2024 hearing, attorneys went back-and-forth over whether the judge's ruling meant that 10 cryptocurrencies the SEC alleged were also sold as unregistered securities were still part of the case.

然而，在 2024 年 7 月的听证会上，律师们就法官的裁决是否意味着 SEC 指控的 10 种加密货币也作为未注册证券出售仍属于该案的一部分进行了反复讨论。

The SEC filed the proposed amended complaint at a court-ordered deadline; Binance has until Oct. 11 to oppose the motion.

SEC 在法院规定的截止日期前提交了拟议的修订后的申诉；币安必须在 10 月 11 日之前反对该动议。

A redline version of the proposed amended complaint walks through the differences, showing far more detail on the SEC's allegations about Binance's listing of various tokens and how the regulator thinks the company promotes investments in these tokens.

拟议修改后的投诉的红线版本探讨了这些差异，更详细地展示了 SEC 对币安上市各种代币的指控，以及监管机构认为该公司如何促进对这些代币的投资。

One line adds that in addition to some cryptocurrencies being native to a specific blockchain, others may be built on top of blockchains. Another line clarified that proof-of-stake networks still reward validators like proof-of-work networks.

其中一行补充说，除了某些加密货币原生于特定区块链之外，其他加密货币也可能构建在区块链之上。另一条线路澄清说，权益证明网络仍然像工作量证明网络一样奖励验证者。

The proposed filing also adds "initial exchange offerings" to its section on initial coin offerings.

拟议的文件还在有关首次代币发行的部分中添加了“首次交易所发行”。

One substantial addition alleges that Binance is "an integral part of the markets for crypto assets, including those that are offered and sold as securities, and Binance fills these markets with information republishing and amplifying the issuer and promoter statements and activity."

一项重要补充称，币安是“加密资产市场不可或缺的一部分，包括那些作为证券提供和出售的资产，币安通过重新发布信息并放大发行人和发起人的声明和活动来填充这些市场。”

The filing adds other paragraphs focusing on Binance's own role in allegedly promoting digital assets it lists and trades.

该文件还添加了其他段落，重点关注币安在推广其上市和交易的数字资产方面所扮演的角色。

The filing emphasizes the SEC's allegation that BNB is a token that is offered and sold as a security, and the exchange's customers, employees and investors share this expectation.

该文件强调了 SEC 的指控，即 BNB 是一种作为证券发行和出售的代币，该交易所的客户、员工和投资者也有同样的期望。

"Binance has offered and sold BNB as an 'exchange token,' marketing it to investors as an investment in the success of the Binance.com Platform and touting the potential returns that investors could expect from a potential increased demand and price for BNB as the platform grew," the filing said.

“币安已将 BNB 作为‘交易代币’提供和出售，将其作为对 Binance.com 平台成功的投资向投资者进行营销，并宣传投资者可以从 BNB 潜在需求和价格增加中获得潜在回报。平台不断发展，”文件称。

Binance's BNB burns and its support of projects that use BNB are also designed to help the token increase in value, the SEC alleged.

SEC 称，币安的 BNB 销毁及其对使用 BNB 的项目的支持也是为了帮助代币增值。

Binance paid U.S. employees, including BAM Trading (Binance.US) executives, in BNB, the SEC alleged.

SEC 称，币安向包括 BAM Trading (Binance.US) 高管在内的美国员工支付了 BNB。

"In internal Binance town halls, Zhao frequently touted Binance’s ETOP [employee token option plan] as essentially equivalent to employee stock options – i.e., as a direct way for employees to share in any profits from the growth of the Binance.com Platform and the Binance enterprise," the filing alleged.

“在币安内部市政厅，赵经常吹捧币安的 ETOP [员工代币期权计划]，本质上等同于员工股票期权——即，作为员工分享 Binance.com 平台和币安平台发展带来的任何利润的直接方式。币安企业”，文件称。

The filing goes into similar additional detail around Binance Simple Earn and the 10 digital assets – SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS and COTI – it alleges were sold as unregistered securities on the Binance platform.

该文件还涉及 Binance Simple Earn 和 10 种数字资产（SOL、ADA、MATIC、FIL、ATOM、SAND、MANA、ALGO、AXS 和 COTI）的类似附加细节，据称这些资产在币安平台上作为未注册证券出售。

"As part of their business practices and provision of intermediary services, Binance and BAM Trading promote the Ten Crypto Assets as attractive investments for their customers, including by amplifying and reinforcing the promotional statements and activity of the crypto asset issuers and promoters," the filing said.

文件称：“作为其业务实践和提供中介服务的一部分，币安和 BAM Trading 将十大加密资产宣传为对其客户有吸引力的投资，包括通过扩大和加强加密资产发行者和发起人的促销声明和活动。”说。

Binance and the issuers of the tokens provide "selective information" to encourage Binance's customers to invest in the tokens, the SEC alleged, using screenshots of Binance's Solana page as an example.

SEC 以币安 Solana 页面的屏幕截图为例，声称币安和代币发行人提供“选择性信息”，以鼓励币安的客户投资代币。

"When Binance and BAM Trading approve a listing of a crypto asset, they typically negotiate and enter into agreements with the crypto asset issuers that impose various requirements on the issuer to incentivize trading by customers of the Binance Platforms," the filing said.

文件称：“当币安和 BAM Trading 批准加密资产上市时，他们通常会与加密资产发行人进行谈判并签订协议，对发行人提出各种要求，以激励币安平台客户的交易。”

Other pages on Binance's website, like its explanation of the term "tokenomics," also refers to tokens' market value and "equate the purchase and sale of crypto assets to trading in the traditional securities markets," the filing said.

文件称，币安网站上的其他页面，比如对“代币经济学”一词的解释，也提到了代币的市场价值，并“将加密资产的买卖等同于传统证券市场的交易”。

Token issuers have similarly touted their teams' efforts, the SEC alleged.

美国证券交易委员会称，代币发行人也同样宣传了他们团队的努力。

In its proposed amended complaint motion, the SEC said it was doing away with the phrase "crypto asset securities," saying in a footnote that the agency "is not referring to the crypto asset itself as the security."

在拟议的修订投诉动议中，美国证券交易委员会表示，它将取消“加密资产证券”一词，并在脚注中表示，该机构“并未将加密资产本身称为证券”。

Rather, the SEC said it "regrets any confusion it may have invited" by using the phrase to refer to "the full set of contracts, expectations and understandings centered on the sales and distributions" of whichever digital assets were at question.

相反，美国证券交易委员会表示，它“对可能造成的任何混乱表示遗憾”，因为该短语是指任何有问题的数字资产的“以销售和分销为中心的全套合同、期望和理解”。

"As the Court explained, the crypto asset is

“正如法院所解释的，加密资产是