众议院的 FIT21 法案真的是加密货币需要的立法吗？

尽管许多业内人士对昨天《21 世纪金融创新和技术法案》的通过表示欢迎，但也有许多人提出了批评和担忧。

The House of Representatives passed the Financial Innovation and Technology for the 21st Century Act on Wednesday, advancing a measure that would set up a regulatory framework for digital assets.

众议院周三通过了《21 世纪金融创新和技术法案》，推进了一项为数字资产建立监管框架的措施。

The bill passed 279 to 136, largely along party lines, with the vast majority of Republicans supporting the bill and 71 Democrats voting against it. The bill will now head to the Senate, though it is unlikely to be taken up this year.

该法案以 279 票对 136 票通过，主要按照党派路线，绝大多数共和党人支持该法案，71 名民主党人投反对票。该法案现在将提交参议院，但今年不太可能获得通过。

If passed, the bill would give the Commodity Futures Trading Commission (CFTC) the authority to oversee digital assets that are deemed to be commodities, while the Securities and Exchange Commission (SEC) would continue to oversee those that are classified as securities.

如果通过，该法案将赋予商品期货交易委员会（CFTC）监管被视为商品的数字资产的权力，而证券交易委员会（SEC）将继续监管被归类为证券的数字资产。

This would mark a significant shift in the regulatory landscape for crypto, as the SEC has largely taken the lead in regulating the industry to date, despite lacking explicit authority to do so.

这将标志着加密货币监管格局的重大转变，因为迄今为止，尽管缺乏明确的授权，但美国证券交易委员会在很大程度上主导了该行业的监管。

However, some crypto legal experts have raised concerns about the bill, arguing that it does not go far enough in shifting regulatory oversight away from the SEC.

然而，一些加密货币法律专家对该法案表示担忧，认为该法案在将监管监督从 SEC 手中转移出去方面还远远不够。

“It does not even shift agencies; SEC would still have huge power. It provides for a dual regulatory regime, split between SEC and CFTC. It does this by giving the CFTC authority it never had—regulatory authority over a spot commodities market,” crypto legal expert Gabriel Shapiro said on X. “Man we have been psyopped so bad on this FIT21 thing.”

“它甚至没有改变机构； SEC 仍然拥有巨大的权力。它规定了 SEC 和 CFTC 之间的双重监管制度。它通过赋予 CFTC 前所未有的权力来做到这一点，即对现货商品市场的监管权，”加密货币法律专家 Gabriel Shapiro 在 X 上表示。“伙计，我们对 FIT21 的事情感到非常震惊。”

“There has never before been a spot commodities market that is *regulated*...we are just handing this authority over wholesale to the CFTC and hoping they are not insane fascists like Gary (but he used to be head of CFTC lol),” he added.

“以前从来没有一个现货商品市场受到*监管*......我们只是将批发权交给了 CFTC，并希望他们不是像加里这样疯狂的法西斯分子（但他曾经是 CFTC 的负责人，哈哈）， “ 他加了。

Others have also pointed out that the bill may not give the CFTC the broad authority it needs to effectively oversee the crypto markets.

其他人也指出，该法案可能不会赋予商品期货交易委员会有效监督加密货币市场所需的广泛权力。

“This bill needlessly creates more jurisdiction for the CFTC over spot and a walled garden for incumbents, among other things. But you dipshits kept asking for new laws,” Stephen Palley, a partner at Brown Rudnick, said.

“这项法案毫无必要地为 CFTC 建立了更多的现货管辖权，并为现任者建立了围墙花园等。但你们这些蠢货却一直要求制定新法律。”布朗鲁德尼克律师事务所合伙人斯蒂芬·帕利说道。

The bill has also faced criticism from Maxine Waters (D-CA), the ranking Democrat on the House Financial Services Committee, who called it one of the worst bills she's ever seen.

该法案还面临众议院金融服务委员会资深民主党人玛克辛·沃特斯（D-CA）的批评，她称这是她见过的最糟糕的法案之一。

She said the bill would stretch the resources of the CFTC, which has only around 700 employees compared to the SEC’s 4,500, and could also undermine other legislative efforts, like the stablecoin bill Waters worked on alongside House Financial Services Chair Patrick McHenry (R-NC).

她表示，该法案将耗尽 CFTC 的资源，该委员会只有约 700 名员工，而 SEC 则有 4,500 名员工，而且还可能破坏其他立法工作，例如沃特斯与众议院金融服务主席 Patrick McHenry（北卡罗来纳州共和党议员）共同制定的稳定币法案。 ）。

“Let me let you [in] on a secret that the big crypto doesn't want you to know even under this bill,” Waters said. “The CFTC does not get enough authority to regulate crypto in this bill.”

“让我告诉你一个秘密，即使根据这项法案，大型加密货币也不想让你知道，”沃特斯说。 “CFTC 在该法案中没有获得足够的权力来监管加密货币。”

SEC Chair Gary Gensler has also said the effort would create more confusion and regulatory gaps than it closes. Gensler has said for years that the law is clear and that there should not be bespoke rules for crypto.

SEC 主席加里·根斯勒 (Gary Gensler) 也表示，这一努力将造成更多的混乱和监管漏洞，而不是其所能弥补的。 Gensler 多年来一直表示，法律是明确的，不应该为加密货币制定定制规则。

Still, many in the crypto industry have viewed the bipartisan vote as a symbolic vote for crypto itself, perhaps a harbinger of a better future. The move comes just days after the House and Senate voted to repeal a controversial SEC accounting rule, which itself was seen as a sign that sanity will ultimately prevail.

尽管如此，加密行业的许多人仍将两党投票视为对加密本身的象征性投票，也许是更美好未来的预兆。就在几天前，众议院和参议院投票废除了一项有争议的美国证券交易委员会会计规则，该规则本身被视为理智最终将占上风的迹象。

If there is a silver lining, many experts think FIT21 is likely to die on the vine. TD Cowen, for instance, said a few weeks ago the bill stood "no chance of becoming law in this Congress.”

如果还有一线希望的话，许多专家认为 FIT21 很可能会中途夭折。例如，TD Cowen 几周前表示，该法案“没有机会在本届国会成为法律”。

So maybe this is one psyop worth celebrating?

那么也许这是一次值得庆祝的心理战？

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