美国 SEC 2024 年概览及 2025 年预期

随着 2025 年的到来，加密货币行业正在准备迎接重大的监管变化。美国证券交易委员会（SEC）正在经历重大变革，标志着加密行业进入了新时代。

As 2025 begins, the crypto industry is preparing for major regulatory shifts. The U.S. Securities and Exchange Commission (SEC) is undergoing significant changes, promising a new era for crypto.

2025 年伊始，加密行业正在为重大监管转变做准备。美国证券交易委员会（SEC）正在经历重大变革，有望开启加密货币的新时代。

Following Donald Trump's re-election and the appointment of pro-crypto leaders like Paul Atkins and David Sacks, expectations are running high.

在唐纳德·特朗普连任并任命保罗·阿特金斯和大卫·萨克斯等支持加密货币的领导人之后，人们的期望越来越高。

Many see this as a turning point for the industry's future, especially after SEC Chair Gary Gensler's tough stance. His tenure was marked by regulatory uncertainty and legal battles with industry giants.

许多人认为这是该行业未来的转折点，特别是在 SEC 主席加里·詹斯勒 (Gary Gensler) 采取强硬立场之后。他的任期内充满了监管不确定性以及与行业巨头的法律纠纷。

A振り返り of US SEC in 2024 and Anticipations for 2025

美国SEC 2024年回顾及2025年展望

Despite the milestones, 2024 was a turbulent year for the crypto industry. Bitcoin (BTC) hit the $100,000 mark for the first time ever.

尽管取得了里程碑式的成就，2024 年对于加密行业来说仍然是动荡的一年。比特币 (BTC) 首次突破 10 万美元大关。

Moreover, Spot Bitcoin and Ethereum Exchange Traded Funds (ETFs) gained massive popularity with institutional adoption.

此外，现货比特币和以太坊交易所交易基金（ETF）因机构采用而广受欢迎。

Significantly, the industry witnessed the fourth Bitcoin halving in Q2. These events showcased the maturing market. However, these milestones were overshadowed by persistent regulatory crackdowns.

值得注意的是，该行业在第二季度见证了第四次比特币减半。这些事件展示了市场的成熟。然而，这些里程碑被持续的监管打压所掩盖。

Under Gary Gensler's leadership, the SEC took an aggressive approach to crypto, targeting major players like Ripple, Coinbase, and Uniswap. His claims that crypto was inherently linked to fraud caused a lot of tension in the industry.

在加里·根斯勒 (Gary Gensler) 的领导下，美国证券交易委员会 (SEC) 对加密货币采取了积极的态度，针对 Ripple、Coinbase 和 Uniswap 等主要参与者。他声称加密货币本质上与欺诈有关，这在行业内引起了很大的紧张。

Gensler's aggressive approach was met with heavy criticism from crypto proponents and political leaders.

Gensler 的激进做法遭到了加密货币支持者和政治领导人的严厉批评。

During his campaign, Donald Trump promised to fire Gensler and adopt a more innovation-friendly approach, giving crypto supporters hope.

在竞选期间，唐纳德·特朗普承诺解雇 Gensler 并采取更加有利于创新的方法，这给加密货币支持者带来了希望。

After his victory, Gensler tendered his resignation, paving the way for Trump to appoint Paul Atkins as the new SEC Chair.

获胜后，詹斯勒提出辞职，为特朗普任命保罗·阿特金斯担任新任 SEC 主席铺平了道路。

Anticipations for 2025 are high, with hopes that Paul Atkins' leadership will bring clarity to crypto regulation. Many believe he can protect investors while fostering innovation in the industry.

人们对 2025 年抱有很高的期望，希望保罗·阿特金斯 (Paul Atkins) 的领导能够使加密货币监管变得更加清晰。许多人相信他可以保护投资者，同时促进行业创新。

Role of Paul Atkins and the Crypto Czar

保罗·阿特金斯和加密货币沙皇的角色

Paul Atkins, a former SEC commissioner known for market-friendly policies, will lead the SEC for 4 years.

因市场友好政策而闻名的前 SEC 委员保罗·阿特金斯 (Paul Atkins) 将领导 SEC 四年。

Atkins is set to lead the SEC for 4 years, driving his vision of promoting innovation while protecting consumers.

阿特金斯将领导 SEC 四年，实现他在保护消费者的同时促进创新的愿景。

His approach marks a clear shift from his predecessor's strict regulatory stance, which could signal a potential change in the SEC's approach to digital assets.

他的做法标志着其前任严格监管立场的明显转变，这可能预示着 SEC 对数字资产的做法可能发生变化。

In a bold move, Trump created a new role of "Crypto Czar."

特朗普采取了大胆举措，创造了“加密货币沙皇”的新角色。

The incoming President appointed David Sacks, a tech investor, to oversee cryptocurrency and AI policies. Sacks will be in charge of shaping regulations in these fields.

即将上任的总统任命科技投资者戴维·萨克斯 (David Sacks) 负责监督加密货币和人工智能政策。萨克斯将负责制定这些领域的法规。

Atkins aims to make the SEC more transparent and work with self-regulatory organizations.

阿特金斯旨在使 SEC 更加透明并与自律组织合作。

He will simplify rules to make them clear and fair while encouraging innovation, an approach that has garnered support from entrepreneurs and investors.

他将简化规则，使其变得清晰和公平，同时鼓励创新，这一做法得到了企业家和投资者的支持。

However, figures like Senator Elizabeth Warren criticized it, fearing it could weaken investor protection.

然而，参议员伊丽莎白·沃伦(Elizabeth Warren)等人士对此提出批评，担心这会削弱投资者保护。

Crypto ETF Applications and the Road Ahead

加密货币 ETF 应用和未来之路

Under Gensler, the SEC was slow to approve Spot Bitcoin ETFs, but these ETFs were finally approved in late 2024, marking a key change.

在 Gensler 的领导下，SEC 批准现货比特币 ETF 的速度很慢，但这些 ETF 最终在 2024 年底获得批准，标志着一个关键的变化。

With Atkins at the helm, the crypto industry hopes for faster reviews of other crypto ETF proposals. This includes potential XRP and Solana (SOL) ETFs.

在阿特金斯的带领下，加密行业希望能够更快地审查其他加密 ETF 提案。这包括潜在的 XRP 和 Solana (SOL) ETF。

Market experts believe the new SEC leadership could pave the way for more opportunities for crypto investment and growth.

市场专家认为，新的 SEC 领导层可能为加密货币投资和增长提供更多机会。

By creating a friendlier regulatory climate, Atkins could attract institutional investors who were previously deterred by the SEC's approach.

通过创造更友好的监管环境，阿特金斯可以吸引此前因美国证券交易委员会的做法而望而却步的机构投资者。

While challenges remain in striking a balance between innovation and investor protection, Atkins and Sacks can help the SEC find a better equilibrium.

尽管在创新和投资者保护之间取得平衡仍然存在挑战，但阿特金斯和萨克斯可以帮助美国证券交易委员会找到更好的平衡。

The shift to a pro-crypto regulatory environment under Trump's presidency marks a pivotal moment for the crypto industry.

特朗普担任总统期间向支持加密货币的监管环境的转变标志着加密货币行业的关键时刻。

As Bitcoin prices continue to rise and institutional interest in crypto grows, the revamped SEC under Paul Atkins has the power to transform the industry. His tenure could help position the United States as a world leader in blockchain innovation.

随着比特币价格持续上涨以及机构对加密货币的兴趣不断增长，保罗·阿特金斯领导下的改组后的美国证券交易委员会有能力改变这个行业。他的任期可能有助于将美国定位为区块链创新的世界领导者。