SEC 主席 Gensler 任期结束，面临司法制裁

SEC 诉 Coinbase (COIN) 案发生了令 SEC 不受欢迎的转折，第三巡回法院做出了对 Coinbase 有利的裁决。

The United States Securities and Exchange Commission (SEC) has faced backlash from a Third Circuit Court ruling in favor of Coinbase (NASDAQ:COIN) in the SEC v Coinbase case.

美国证券交易委员会 (SEC) 在 SEC 诉 Coinbase 案中面临第三巡回法院对 Coinbase（纳斯达克股票代码：COIN）有利的裁决的强烈反对。

Coinbase's Chief Legal Officer Paul Grewal announced the decision on Twitter, highlighting that the Third Circuit Court had ordered the SEC to provide a "more complete explanation" for its order.

Coinbase 首席法律官 Paul Grewal 在 Twitter 上宣布了这一决定，并强调第三巡回法院已命令 SEC 为其命令提供“更完整的解释”。

“We just won our petition for a writ of mandamus at the Third Circuit. Rebuking SEC for its order denying our rulemaking petition, the Court held that the “SEC’s order was conclusory and insufficiently reasoned, and thus arbitrary and capricious, we grant Coinbase’s petition in part and remand to the SEC for a more complete explanation.”

“我们刚刚在第三巡回法院赢得了履行职责令的请愿书。法院谴责 SEC 拒绝我们的规则制定请求的命令，认为“SEC 的命令是结论性的，理由不足，因此是武断且反复无常的，我们部分批准了 Coinbase 的请求，并将其发还给 SEC 以获得更完整的解释。”

The court's decision follows Coinbase's filing with the Third Circuit Court in August 2022, seeking to overturn the SEC's denial of its application to have the agency initiate rulemaking proceedings on the classification of digital assets.

法院做出这一决定之前，Coinbase 于 2022 年 8 月向第三巡回法院提交了文件，试图推翻 SEC 拒绝其申请启动数字资产分类规则制定程序的决定。

Coinbase had applied to the SEC in September 2021 to have the agency initiate rulemaking proceedings on the classification of digital assets. The SEC denied the application in April 2022 without providing a detailed explanation.

Coinbase 于 2021 年 9 月向 SEC 申请，要求该机构启动有关数字资产分类的规则制定程序。 SEC 于 2022 年 4 月拒绝了该申请，但没有提供详细解释。

Coinbase then filed a petition for a writ of mandamus with the Third Circuit Court, arguing that the SEC's denial was arbitrary and capricious and that the court should order the agency to provide a more complete explanation for its decision.

随后，Coinbase 向第三巡回法院提交了一份履行职责令的请愿书，认为 SEC 的拒绝是武断且反复无常的，法院应命令该机构对其决定提供更完整的解释。

The Third Circuit Court agreed with Coinbase and remanded the SEC to explain itself further. The court also noted that the SEC should not give “yet another poor explanation in an already-long line of them.”

第三巡回法院同意 Coinbase 的观点，并要求 SEC 进一步解释。法院还指出，美国证券交易委员会不应该“在已经很长的解释中再给出一个糟糕的解释”。

“But sporadically enforcing ill-fitting rules against crypto companies that are trying to follow the law goes way beyond fighting fraud. It targets a whole industry and risks de facto banning it. On remand, the SEC must grapple with that problem.”

“但偶尔对试图遵守法律的加密货币公司执行不合适的规则远远超出了打击欺诈的范围。它针对整个行业，并有事实上被禁止的风险。在还押时，美国证券交易委员会必须解决这个问题。”

Ripple's Chief Legal Officer Stuart Alderoty shared excerpts from the court ruling on Twitter, highlighting the court's conclusion that the SEC was attempting to ban the crypto industry through selective enforcement of securities laws.

Ripple 首席法律官 Stuart Alderoty 在 Twitter 上分享了法院裁决的摘录，强调了法院的结论，即 SEC 试图通过选择性执行证券法来禁止加密行业。

“Huge congratulations to Paul Grewal and Coinbase for their win today. In Gensler’s final days, his anti-crypto crusade is imploding, and a federal appeals court has laid bare what the industry has said for years: his selective enforcement of securities laws was a (not so) covert attempt to ban the industry outright. Shameful.”

“热烈祝贺 Paul Grewal 和 Coinbase 今天获胜。在 Gensler 的最后几天，他的反加密运动正在爆发，联邦上诉法院揭露了该行业多年来的说法：他选择性地执行证券法是一次（并非如此）秘密的尝试，旨在彻底禁止该行业。可耻。”

The latest court ruling could pressure the SEC to reconsider its appeal in the Ripple case. Amicus Curiae attorney John E. Deaton recently assessed the upside for an SEC appeal, saying,

最新的法院裁决可能会迫使 SEC 重新考虑其在 Ripple 案件中的上诉。法庭之友律师 John E. Deaton 最近评估了 SEC 上诉的好处，他表示：

“Hence, my point: appealing the Ripple ruling is a fool’s errand and I think Paul Atkins will see it that way.”

“因此，我的观点是：对 Ripple 的裁决提出上诉是一件愚蠢的事情，我认为保罗·阿特金斯也会这么认为。”

XRP Price Trends: Legal Battle Drives Sentiment XRP advanced by 0.80% on Monday, January 13, partially reversing Sunday's 2.81% loss to close at $2.5245. Notably, XRP outperformed the broader crypto market, which declined by 0.91% to a total market cap of $3.20 trillion.

XRP 价格趋势：法律斗争推动市场情绪 XRP 于 1 月 13 日星期一上涨 0.80%，部分扭转了周日 2.81% 的跌幅，收于 2.5245 美元。值得注意的是，XRP 的表现优于更广泛的加密货币市场，后者下跌 0.91%，总市值为 3.20 万亿美元。

XRP's price action is closely tied to the developments in the Ripple case. If the SEC files its opening brief and convincingly challenges the Programmatic Sale of XRP ruling, XRP could drop below $2.

XRP 的价格走势与 Ripple 案的进展密切相关。如果 SEC 提交开庭简报并令人信服地挑战 XRP 程序化销售裁决，XRP 可能会跌至 2 美元以下。

On the other hand, if the agency withdraws its appeal, XRP could break above its 2018 record high of $3.5505.

另一方面，如果该机构撤回上诉，XRP 可能会突破 2018 年的历史新高 3.5505 美元。