美国证券交易委员会新任主席保罗·阿特金斯可能会重新定义美国加密货币监管的未来

这一选择绝非微不足道，它是在该行业面临日益增加的不确定性和被视为敌对政策的关键时刻做出的。

The appointment of Paul Atkins to lead the Securities and Exchange Commission (SEC), as announced by Donald Trump, could redefine the future of crypto regulation in the United States. This choice, far from being trivial, comes at a critical juncture as the sector faces increasing uncertainties and policies perceived as hostile.

唐纳德·特朗普宣布任命保罗·阿特金斯领导证券交易委员会（SEC），这可能会重新定义美国加密货币监管的未来。这一选择绝非微不足道，它是在该行业面临日益增加的不确定性和被视为敌对政策的关键时刻做出的。

Under the previous administration, the SEC’s management sparked sharp criticism due to an approach посчитавшийся overly restrictive towards these assets. By choosing a candidate known for his pro-innovation positions and expertise in crypto, Trump appears to send a clear signal in favor of a change of direction.

在上届政府领导下，美国证券交易委员会的管理层因对这些资产过于严格的限制而引发了尖锐的批评。通过选择一位以支持创新立场和加密货币专业知识而闻名的候选人，特朗普似乎发出了支持改变方向的明确信号。

Paul Atkins, between speculation and confirmation

保罗·阿特金斯，介于猜测与证实之间

Before the official announcement of his appointment, Paul Atkins was already among the most mentioned names to take the helm of the Securities and Exchange Commission (SEC). In early December, the platform Kalshi estimated his chances of being appointed at 93 %, a prediction based on strategic exchanges between Atkins and Donald Trump’s transition team. This context highlighted a marked interest in a pro-business candidate at a time when Gary Gensler’s management, criticized for its excessive rigor towards the crypto industry, had triggered growing dissatisfaction.

在正式宣布任命之前，保罗·阿特金斯已经是最受关注的美国证券交易委员会 (SEC) 掌舵人之一。 12月初，Kalshi平台估计他被任命的几率为93%，这一预测是基于阿特金斯和唐纳德·特朗普过渡团队之间的战略交流。这种背景突显了人们对亲商业候选人的浓厚兴趣，当时加里·詹斯勒 (Gary Gensler) 的管理层因对加密行业过于严格而受到批评，引发了越来越多的不满。

Donald Trump’s announcement confirmed these speculations. In a message published on his social network Truth Social, the president-elect hailed Paul Atkins as “a proven leader for sensible regulations.” This statement fits into a clear political strategy aimed at reformulating the SEC’s approach to the challenges of technological innovation. Drawing on his experience as a SEC commissioner from 2002 to 2008 and his role as co-chair of the Token Alliance, Atkins represents a break from the policies perceived as restrictive of the previous administration.

唐纳德·特朗普的声明证实了这些猜测。在他的社交网络“Truth Social”上发布的消息中，候任总统称赞保罗·阿特金斯是“一位公认的明智监管领导者”。这一声明符合旨在重新制定 SEC 应对技术创新挑战的方法的明确政治战略。阿特金斯凭借 2002 年至 2008 年担任 SEC 委员的经验以及担任代币联盟联合主席的经历，代表了对前任政府视为限制性政策的突破。

This choice comes at a critical moment for the crypto sector, which calls for clear and balanced regulations. Through the appointment of a strong advocate for transparency and investor protection, Donald Trump seems not only to fulfill his campaign commitments but also to indirectly address a critique of the Biden administration. This transition reflects a desire to reposition the United States as a leader in innovation in blockchain and to respond to the growing demand for regulatory stability.

这一选择是在加密行业的关键时刻做出的，加密行业需要明确和平衡的监管。通过任命一位透明度和投资者保护的强有力倡导者，唐纳德·特朗普似乎不仅履行了他的竞选承诺，而且还间接回应了对拜登政府的批评。这一转变反映了将美国重新定位为区块链创新领导者并满足日益增长的监管稳定性需求的愿望。

An expected break with the Gensler era

与 Gensler 时代的预期决裂

The presidency of Gary Gensler at the helm of the SEC left a controversial mark on the crypto industry. Between 2021 and 2023, the agency initiated more than 104 lawsuits against companies in the sector, with legal fees estimated at 426 million dollars. This strategy, described as a “legal war” by the Blockchain Association, has been widely criticized for its lack of clarity and its impact on innovation. Many sector players have denounced the absence of a coherent regulatory framework, which exacerbates the perception of a hostile environment for crypto businesses.

SEC 主席加里·詹斯勒 (Gary Gensler) 的任期给加密货币行业留下了争议性的印记。 2021年至2023年间，该机构针对该行业的公司发起了超过104起诉讼，法律费用估计达4.26亿美元。这一策略被区块链协会称为“法律战”，因其缺乏明确性及其对创新的影响而受到广泛批评。许多行业参与者谴责缺乏连贯的监管框架，这加剧了人们对加密货币业务不利环境的看法。

The arrival of Paul Atkins at the head of the SEC could mark a major turnaround. Some experts foresee a easing of regulatory pressures, especially regarding approval requests for financial products related to crypto, such as ETFs based on assets like Solana. Such an appointment also sparks hopes for a more balanced approach that combines support for innovation and protection for investors. Given his experience and pro-business positions, Atkins seems capable of bringing a different perspective that is more favorable to the emergence of innovative solutions.

保罗·阿特金斯 (Paul Atkins) 出任 SEC 主席可能标志着一个重大转变。一些专家预计监管压力将会缓解，尤其是与加密货币相关的金融产品（例如基于 Solana 等资产的 ETF）的审批请求。这样的任命也引发了人们对采取更加平衡的方法的希望，将支持创新和保护投资者结合起来。鉴于他的经验和支持商业的立场，阿特金斯似乎能够带来更有利于创新解决方案出现的不同观点。

The consequences of this transition could extend well beyond American borders. A more open policy towards cryptos would enhance the attractiveness of the United States for companies in the sector, which could then establish their operations there instead of seeking refuge in more permissive jurisdictions. This dynamic could reposition the United States as a global leader in the blockchain ecosystem and would provide a regulatory framework that is both clear and competitive. However, uncertainties remain regarding how Atkins will realize this vision. The challenges related to implementing fair regulation, without forgetting the excesses of the past, remain significant and will require pragmatic solutions.

这一转变的后果可能远远超出美国国界。对加密货币采取更加开放的政策将增强美国对该行业公司的吸引力，这些公司可以在那里开展业务，而不是在更宽松的司法管辖区寻求庇护。这种动态可以将美国重新定位为区块链生态系统的全球领导者，并将提供一个既明确又具有竞争力的监管框架。然而，阿特金斯将如何实现这一愿景仍存在不确定性。在不忘记过去的过度行为的情况下，与实施公平监管相关的挑战仍然严峻，需要务实的解决方案。

The appointment of Paul Atkins to the head of the SEC paves the way for a potential reshaping of relations between the crypto industry and regulators. This decision, seen as a signal of appeasement, raises both hopes and questions. For many industry players, it embodies the opportunity to move out of an era marked by tensions and legal conflicts. However, expectations remain cautious, as the issues related to balanced regulation are vast and complex.

保罗·阿特金斯 (Paul Atkins) 被任命为 SEC 主席，为加密货币行业与监管机构之间关系的潜在重塑铺平了道路。这一决定被视为绥靖信号，同时引发了希望和疑问。对于许多行业参与者来说，它意味着走出一个充满紧张和法律冲突的时代的机会。然而，由于与平衡监管相关的问题广泛而复杂，预期仍保持谨慎。

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.

通过我们的“阅读赚钱”计划最大化您的 Cointribune 体验！对于您阅读的每一篇文章，均可赚取积分并获得独家奖励。立即注册并开始赚取福利。

A graduate of Sciences Po Toulouse and holder of a blockchain consultant certification from Alyra, I joined the Cointribune adventure in 2019.

我毕业于图卢兹政治学院，并持有 Alyra 的区块链顾问认证，于 2019 年加入了 Cointribune 冒险之旅。

Convinced of blockchain’s potential to transform numerous sectors of the economy, I undertook the mission of raising awareness and informing the general public about this constantly evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. I strive every day to provide an objective analysis of the news, decipher market trends, relay the latest technological innovations and put the economic and societal stakes of this unfolding revolution into perspective.

我坚信区块链具有改变众多经济部门的潜力，因此我承担了提高公众认识并让公众了解这个不断发展的生态系统的使命。我的目标是让每个人都能更好地了解区块链并抓住它提供的机会。我每天都努力对新闻进行客观分析，解读市场趋势，传播最新的技术创新，并正确看待这场正在展开的革命的经济和社会利益。