IMF的新框架将XRP归类为安全性，引发争议

国际货币基金组织最近发布了第七版的付款和国际投资手册（BPM7）。该最新版本是一个重大更新，是自2009年以来的首次修订，尤其是加密货币在全球经济中的作用日益增长。但是，在此更新中，国际货币基金组织试图对这些数字资产进行分类引发了争议，尤其是关于XRP的争议。

The International Monetary Fund (IMF) has released the seventh edition of its Balance of Payments and International Investment Manual (BPM7). This latest version is a significant update, being the first revision since 2009. It incorporates the growing role of cryptocurrencies in the global economy. However, its attempt to categorize these digital assets has sparked controversy, especially concerning XRP.

国际货币基金组织（IMF）发布了其付款余额和国际投资手册（BPM7）的第七版。该最新版本是一个重大更新，是自2009年以来的首次修订。它结合了加密货币在全球经济中的越来越多的作用。但是，它对这些数字资产进行分类的尝试引发了争议，尤其是关于XRP的争议。

How does the IMF classify crypto like XRP?

IMF如何像XRP一样对加密分类？

Under this newly updated framework, the IMF classifies crypto assets by whether they create a financial claim or liability on the issuer. In this context, the IMF states that utility tokens, which include many altcoins, provide future access to goods or services and should be classified as “debt securities.”

在这个新更新的框架下，国际货币基金组织通过对发行人创建财务索赔还是责任来对加密资产进行分类。在这种情况下，国际货币基金组织指出，包括许多AltCoins在内的公用事业令牌提供了未来的商品或服务访问权限，应归类为“债务证券”。

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This classification made some humorously predict that XRP could soon be permanently listed as a security.

这种分类使一些幽默地预测XRP很快可能被永久列为安全性。

Interestingly, the IMF’s approach to categorizing utility tokens could potentially classify not only XRP but also other leading cryptocurrencies like Ethereum and Solana as “debt securities.”

有趣的是，国际货币基金组织将公用事业令牌分类的方法不仅可以对XRP进行分类，还可以将其他领先的加密货币（如以太坊和Solana）归类为“债务证券”。

However, Ripple's CTO, David Schwartz, doesn't agree with this line of reasoning. He argued that if XRP fits this definition, then other major cryptocurrencies, such as Bitcoin and Ethereum, should also fall under the same category.

但是，Ripple的首席技术官David Schwartz不同意这一推理。他认为，如果XRP符合此定义，那么其他主要的加密货币（例如比特币和以太坊）也应属于同一类别。

"If XRP is a utility token or a security according to the IMF's criteria because it can be used for future transaction fees, then BTC and ETH should also be classified the same way," Schwartz argued.

Schwartz认为：“如果XRP是根据IMF的标准是实用令牌或安全性，因为它可以用于将来的交易费用，那么BTC和ETH也应以相同的方式进行分类。”

If XRP is a utility token because you can use it to pay future transaction fees, then so are BTC and ETH.

如果XRP是实用程序代币，因为您可以使用它来支付未来的交易费用，那么BTC和ETH也是如此。

Moreover, Ripple's CTO also pointed out that, in his opinion, no major token really fits the IMF's definition of a utility token.

此外，Ripple的首席技术官还指出，他认为，没有任何大的令牌真正符合IMF对公用事业令牌的定义。

"I'm not sure what major token, if any, would be an example of that," he said.

他说：“我不确定什么（如果有的话）将是一个例子。”

This debate over XRP's classification comes at a crucial time. Ripple is nearing the end of its ongoing legal battle, where the status of XRP was at the center of the dispute.

关于XRP分类的这场辩论在关键时刻进行。 Ripple接近正在进行的法律斗争的尽头，XRP的地位是争端的中心。

Back in 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, alleging that the company's sale of XRP violated securities laws. However, in 2023, District Judge Analisa Torres ruled that Ripple's sales of XRP to the general public did not qualify as securities transactions. She did, however, find that the firm's direct sales to institutional investors did violate the Integration Theory.

早在2020年，美国证券交易委员会（SEC）提起了针对波纹的诉讼，指控该公司出售XRP违反了证券法。但是，在2023年，地方法院法官Analisa Torres裁定，Ripple向公众的XRP销售不符合证券交易的资格。但是，她确实发现该公司向机构投资者的直接销售确实违反了整合理论。