美国证券交易委员会（SEC）努力跟上加密货币发展的步伐，敲响了警钟

由于加密货币领域的快速发展，包括美国证券交易委员会（SEC）在内的监管机构在实施有效监管方面面临着挑战。被称为“加密货币妈妈”的专员 Hester Peirce 批评 SEC 的指导方针不明确以及由员工驱动的决策流程。她主张让整个委员会更多地参与监管事务，并对 SEC 等小型机构的独立性提出质疑，强调为加密行业运营的公司制定明确且一致的规则的必要性。

SEC's Struggle to Keep Pace with Crypto Evolution Raises Concerns

SEC 努力跟上加密货币发展的步伐引发担忧

The Securities and Exchange Commission (SEC), a pivotal regulatory body in the United States, has drawn criticism from Commissioner Hester Peirce for its perceived inability to keep pace with the rapidly evolving crypto industry.

作为美国的重要监管机构，美国证券交易委员会 (SEC) 因无法跟上快速发展的加密货币行业的步伐而受到专员 Hester Peirce 的批评。

During a recent event organized by the Practicing Law Institute, Peirce, often referred to as the "Crypto Mom" due to her advocacy for financial innovation, expressed her reservations about the SEC's regulatory framework. Peirce highlighted the complexities and inconsistencies within the SEC's guidelines, which she believes hinder clarity and coherence within the securities sector.

在执业法律研究所最近组织的一次活动中，由于倡导金融创新而经常被称为“加密货币妈妈”的皮尔斯表达了她对 SEC 监管框架的保留意见。 Peirce 强调了 SEC 指导方针的复杂性和不一致之处，她认为这阻碍了证券行业的清晰度和一致性。

The commissioner emphasized the need for the SEC to involve the entire commission, not solely staff members, in the regulatory process. She questioned the efficacy of small regulatory agencies like the SEC, which are appointed by the executive branch and approved by Congress, yet designed to remain independent of specific administrations or political affiliations.

该专员强调，美国证券交易委员会需要让整个委员会（而不仅仅是工作人员）参与监管过程。她质疑美国证券交易委员会等小型监管机构的效率，这些机构由行政部门任命并经国会批准，但其设计目的是保持独立于特定政府或政治派别。

Peirce's criticisms extend to the SEC's failure in articulating clear and consistent regulations for businesses operating within the crypto space. Her dissent against the SEC's denial of the Winklevoss-owned Gemini's request for a Bitcoin-based exchange-traded fund (ETF) in 2018 garnered significant attention. Peirce not only advocated for the approval of the proposal but also accused the Commission of "engaging in merit regulation," which essentially prohibits individuals from investing in specific securities, even if they acknowledge the associated risks.

皮尔斯的批评延伸到美国证券交易委员会未能为加密货币领域运营的企业制定清晰一致的法规。她对美国证券交易委员会 (SEC) 拒绝 Winklevoss 旗下的 Gemini 在 2018 年提出的基于比特币的交易所交易基金 (ETF) 的请求表示异议，引起了广泛关注。皮尔斯不仅主张批准该提案，还指责委员会“参与绩效监管”，这实质上禁止个人投资特定证券，即使他们承认相关风险。

The SEC's approval of a Bitcoin ETF in January 2022, despite opposition from some commissioners, further exacerbated the agency's stance on cryptocurrencies. The official statement accompanying the approval acknowledged the practical uses of certain digital assets, but simultaneously highlighted the prevalent use of Bitcoin for speculation and illicit activities, including money laundering, ransomware, and terrorist financing.

尽管遭到一些委员的反对，美国证券交易委员会还是于 2022 年 1 月批准了比特币 ETF，这进一步加剧了该机构对加密货币的立场。批准的官方声明承认了某些数字资产的实际用途，但同时强调了比特币普遍用于投机和非法活动，包括洗钱、勒索软件和恐怖主义融资。

Amidst the ongoing debate, SEC Chair Gary Gensler has requested additional funding to bolster the agency's regulatory capacity in light of the rapid advancements within the crypto landscape. The proposal seeks to add 148 staff members by 2025, increasing the total from 5,473 in 2024 to 5,621 in 2025.

在持续的争论中，鉴于加密领域的快速发展，SEC 主席加里·詹斯勒 (Gary Gensler) 要求提供额外资金，以增强该机构的监管能力。该提案力求到 2025 年增加 148 名工作人员，使总数从 2024 年的 5,473 人增加到 2025 年的 5,621 人。

The Office of the General Counsel within the SEC has also requested two additional positions to support its whistleblowing program, which has witnessed a surge in activity. This increase in resources aims to address the rising number of civil and administrative litigation cases filed against the Commission.

SEC 总法律顾问办公室还要求增加两个职位来支持其举报计划，该计划的活动激增。增加资源的目的是解决针对委员会提起的民事和行政诉讼案件数量不断增加的问题。

Despite these efforts, concerns persist regarding the SEC's ability to effectively regulate the burgeoning crypto industry. Inconsistent data, coupled with the difficulty in monitoring numerous actors who may not be bound by conventional disclosure or reporting regulations, poses significant challenges for regulators.

尽管做出了这些努力，但人们仍然对 SEC 有效监管新兴加密行业的能力感到担忧。数据不一致，加上难以监控众多可能不受传统披露或报告法规约束的参与者，给监管机构带来了重大挑战。

Peirce's criticisms underscore the urgent need for the SEC to reassess its prohibition on Bitcoin- or crypto-based ETFs. The successful implementation of such ETFs in countries like Canada and Brazil serves as a testament to their feasibility and potential benefits for investors.

Peirce 的批评凸显了 SEC 迫切需要重新评估其对比特币或加密货币 ETF 的禁令。此类 ETF 在加拿大和巴西等国家的成功实施证明了其可行性和投资者的潜在利益。

The SEC's regulatory approach to cryptocurrencies has been a subject of intense scrutiny. The agency's perceived hesitation to embrace innovation, coupled with its inconsistent statements regarding the legality of certain digital assets, has led to uncertainty within the industry. As the crypto market continues to evolve at a rapid pace, the SEC faces the daunting task of balancing the need for consumer protection with the promotion of innovation and investment opportunities.

美国证券交易委员会对加密货币的监管方法一直受到严格审查。该机构在接受创新方面犹豫不决，加上其对某些数字资产合法性的声明不一致，导致了行业内的不确定性。随着加密货币市场继续快速发展，美国证券交易委员会面临着平衡消费者保护需求与促进创新和投资机会的艰巨任务。