从扼流圈行动到BTC储备：探索特朗普政府的加密政策转变

这一变化标志着先前拜登政府的严格监管方法，朝着宽松而支持的立场迈进。

The Trump administration has brought a significant shift to the crypto policy in the US, marking a departure from the stringent regulatory approach of the previous Biden administration and moving towards a more permissive and supportive stance. This change in attitude is expected to have a substantial impact on the industry, setting the stage for a period of rapid growth and innovation.

特朗普政府对美国的加密政策进行了重大转变，这标志着前往拜登政府的严格监管方法的背离，并朝着更加宽容和更支持的立场迈进了。预计这种态度的变化将对该行业产生重大影响，为快速增长和创新时期奠定了基础。

During President Joe Biden’s tenure, federal agencies ramped up their supervision of the crypto industry. The Department of Justice (DOJ) established the National Cryptocurrency Enforcement Team (NCET) in 2021 to focus on combating crypto-related crimes. At the same time, the Securities and Exchange Commission (SEC), led by Chair Gary Gensler, pursued multiple enforcement actions against major exchanges, such as Coinbase and Binance, for alleged violations of securities laws.

在乔·拜登（Joe Biden）总统任职期间，联邦机构加大了对加密工业的监督。司法部（DOJ）在2021年建立了国家加密货币执法团队（NCET），专注于打击与加密相关的犯罪。同时，由主席加里·盖斯勒（Gary Gensler）领导的美国证券交易委员会（SEC）（SEC）针对主要交易所（例如Coinbase and Binance）采取了多项执法行动，涉嫌违反证券法。

In 2023 alone, the SEC initiated 46 crypto-related enforcement actions, showcasing a 53% increase from the previous year. Moreover, the Biden administration employed indirect measures to limit crypto’s expansion. Agencies like the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve issued advisories discouraging banks from partnerships with crypto firms, ultimately leading to the partial closure of the industry.

仅在2023年，SEC就发起了46次与加密相关的执法行动，比上一年增长了53％。此外，拜登政府采取了间接措施来限制加密货币的扩展。联邦存款保险公司（FDIC）和美联储等机构发出了与加密货币公司的合作伙伴关系的咨询，最终导致了该行业的部分关闭。

This strategy, comparable to the original Operation Choke Point, aimed to mitigate perceived risks linked to digital assets. However, it drew criticism from those in the crypto industry, who viewed it as an obstruction to innovation and financial inclusion.

该策略与原始操作障碍点相当，目的是减轻与数字资产相关的感知风险。但是，它引起了加密货币行业中人们的批评，他们认为这是对创新和金融包容性的阻碍。

Conversely, the Trump administration’s policies are being welcomed by many in the crypto sector. Exchanges, institutional investors, and retail traders see this deregulation as an opportunity for the industry to flourish.

相反，特朗普政府的政策受到加密货币部门的许多人的欢迎。交易所，机构投资者和零售商人认为，这种放松管制是该行业蓬勃发展的机会。

With reduced regulatory pressures and an aggressive move towards a national Bitcoin reserve, the industry anticipates a much more favorable environment in the next four years.

随着监管压力的减轻和向国家比特币储备的积极进展，该行业预计在未来四年中会有更有利的环境。

A Deep Dive into the US' Evolving Approach to Digital Asset Oversight

深入研究美国发展的数字资产监督方法

深入研究美国发展的数字资产监督方法

This report by CryptoSlate will provide an in-depth analysis of the policy reversal that has reshaped the relationship between the US federal government and the crypto industry.

加密板岩的这份报告将对政策逆转的深入分析，该政策逆转重塑了美国联邦政府与加密货币行业之间的关系。

The report will examine the Biden administration's aggressive enforcement campaign, highlighting key actions by the DOJ, SEC, and banking regulators, including the creation of the National Cryptocurrency Enforcement Team and the broader strategy known as Operation Choke Point 2.0. It will then analyze how the Trump administration has dismantled much of that framework in 2025 through Executive Order 14178 and the disbanding of the NCET.

该报告将研究拜登政府的积极执法运动，强调司法部，SEC和银行监管机构的关键行动，包括成立国家加密货币执法团队以及更广泛的战略，称为Choce Point 2.0行动。然后，它将分析特朗普政府在2025年通过14178号行政命令和NCET解散的方式如何拆除该框架的大部分框架。

By comparing regulatory priorities across administrations, assessing specific case withdrawals, and exploring the legal and market implications of this transition, the report aims to provide a complete breakdown of the United States' evolving approach to digital asset oversight.

通过比较整个行政部门的监管优先级，评估特定案件提款并探讨该过渡的法律和市场影响，该报告旨在对美国不断发展的数字资产监督方法进行彻底的细分。

The Biden administration’s crypto policy was largely focused on regulation and enforcement, with the goal of protecting investors and ensuring the stability of the financial system. This policy was implemented through a number of actions, including the creation of the National Cryptocurrency Enforcement Team (NCET) at the Department of Justice (DOJ) in 2021 to combat crypto-related crimes.

拜登政府的加密政策主要集中在监管和执法上，目的是保护投资者并确保金融体系的稳定性。该政策是通过多项行动实施的，包括在2021年在司法部（DOJ）建立国家加密货币执法团队（NCET）来打击与加密相关的犯罪。

The administration also urged the Federal Reserve to create a digital dollar and imposed restrictions on crypto firms, warning banks about partnerships with digital asset companies. This strategy, which some have called Operation Choke Point 2.0, was seen as an attempt to dampen the rapid growth of the crypto industry and mitigate perceived risks associated with digital assets.

政府还敦促美联储建立数字美元并对加密货币公司施加限制，并警告银行与数字资产公司的合作伙伴关系。该策略称之为操作障碍点2.0，被视为试图抑制加密工业的快速增长并减轻与数字资产相关的感知风险。

The Trump administration, on the other hand, adopted a more supportive stance towards crypto, aiming to foster innovation and promote the use of Bitcoin as a national reserve currency. This policy shift was evident in Executive Order 14178, which directed federal agencies to prioritize a rational approach to digital asset regulation, setting the stage for a period of rapid growth and innovation in the crypto sector.

另一方面，特朗普政府对加密货币采取了更为支持的立场，旨在促进并促进将比特币用作国家储备货币。这一政策转变在14178号行政命令中很明显，该命令指示联邦机构优先考虑合理的数字资产法规方法，为加密货币部门的快速增长和创新时期奠定了基础。

The administration also disbanded the NCET, reflecting a broader shift away from the Biden administration’s focus on enforcement and towards a more balanced approach that took into account the potential benefits of crypto technology.

政府还解散了NCET，反映了拜登政府对执法的关注和更加平衡的方法的更广泛的转变，该方法考虑了加密技术的潜在好处。

This focus on Bitcoin as a reserve currency was a key aspect of the Trump administration’s crypto policy. The administration recognized the need for a stable and easily transferable reserve currency in today’s globalized economy, and Bitcoin’s unique properties made it an ideal candidate.

这种专注于比特币作为储备货币是特朗普政府加密政策政策的关键方面。政府认识到在当今的全球化经济中需要稳定且易于转移的储备货币，比特币的独特财产使其成为理想的候选人。

The administration’s policies have significant implications for the future of the crypto industry in the United States. With reduced regulatory pressures and an aggressive move towards a national Bitcoin reserve, the industry anticipates a much more favorable environment in the next four years.

政府的政策对美国加密业的未来具有重大影响。随着监管压力的减轻和向国家比特币储备的积极进展，该行业预计在未来四年中会有更有利的环境。

This shift in policy could have a substantial impact on the industry, setting the stage for a period of rapid growth and innovation. It remains to be seen how this new policy will play out in practice and what the long-term implications will be for the crypto industry in the United States.

政策的这种转变可能会对行业产生重大影响，为快速增长和创新时期奠定了基础。这项新政策在实践中将如何发挥作用以及对美国加密行业的长期影响还有待观察。