{"id":1605,"date":"2025-08-12T00:15:29","date_gmt":"2025-08-11T16:15:29","guid":{"rendered":"http:\/\/www.design-suit.com\/?p=1605"},"modified":"2025-08-12T00:15:29","modified_gmt":"2025-08-11T16:15:29","slug":"%e5%8a%a0%e5%af%86%e5%a5%b6%e7%88%b8%e7%99%bb%e5%9c%ba%ef%bc%8cpaul-atkins%e9%a2%86%e5%af%bc%e4%b8%8b%e7%9a%84sec%e8%83%bd%e5%90%a6%e9%87%8d%e5%a1%91%e7%be%8e%e5%9b%bd%e5%8a%a0","status":"publish","type":"post","link":"http:\/\/www.wancg.com\/?p=1605","title":{"rendered":"\u201c\u52a0\u5bc6\u5976\u7238\u201d\u767b\u573a\uff0cPaul Atkins\u9886\u5bfc\u4e0b\u7684SEC\u80fd\u5426\u91cd\u5851\u7f8e\u56fd\u52a0\u5bc6\u5e02\u573a\uff1f | PANews"},"content":{"rendered":"

\u672c\u6587\u4f5c\u8005\u4e3aOKG Research\u8d44\u6df1\u7814\u7a76\u5458Jason Jiang<\/p>\n

\u5317\u4eac\u65f6\u95f42025\u5e744\u670822\u65e5\uff0cPaul Atkins\u6b63\u5f0f\u5ba3\u8a93\u5c31\u4efb\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\uff08SEC\uff09\u7b2c34\u4efb\u4e3b\u5e2d\u3002\u8fd9\u4f4d\u7531\u7279\u6717\u666e\u603b\u7edf\u63d0\u540d\u3001\u5728\u53c2\u8bae\u9662\u4ee552\u7968\u5bf944\u7968\u786e\u8ba4\u7684\u201c\u81ea\u7531\u5e02\u573a\u6d3e\u201d\u76d1\u7ba1\u8005\uff0c\u4e0d\u540c\u4e8e\u5176\u524d\u4efbGary Gensler\u5728\u4efb\u671f\u5185\u4ee5\u6267\u6cd5\u4e3a\u4e3b\u7684\u76d1\u7ba1\u65b9\u5f0f\uff0c\u4e00\u4e0a\u4efb\u4fbf\u660e\u786e\u8868\u793a\uff1a\u5efa\u8bbe\u6e05\u6670\u3001\u5f00\u653e\u7684\u6570\u5b57\u8d44\u4ea7\u76d1\u7ba1\u6846\u67b6\u5c06\u662f\u201c\u9996\u8981\u4efb\u52a1\u201d\u3002<\/p>\n

Gensler\u65f6\u4ee3\uff0c\u7f8e\u56fdSEC\u5bf9\u52a0\u5bc6\u884c\u4e1a\u5c55\u5f00\u5927\u89c4\u6a21\u6267\u6cd5\u884c\u52a8\uff0c\u51e0\u4e4e\u5c06\u6240\u6709\u4ee3\u5e01\u89c6\u4e3a\u8bc1\u5238\uff0c\u4ee4\u521b\u4e1a\u8005\u3001\u6295\u8d44\u673a\u6784\u548c\u4ea4\u6613\u5e73\u53f0\u957f\u671f\u5904\u4e8e\u4e0d\u786e\u5b9a\u4e0e\u98ce\u9669\u4e4b\u4e2d\u3002\u5728\u8fd9\u79cd\u76d1\u7ba1\u9ad8\u538b\u4e0e\u653f\u7b56\u6a21\u7cca\u4ea4\u7ec7\u7684\u80cc\u666f\u4e0b\uff0cAtkins\u7684\u4e0a\u4efb\u88ab\u4e1a\u5185\u89c6\u4e3a\u7f8e\u56fd\u52a0\u5bc6\u76d1\u7ba1\u7684\u201c\u91cd\u542f\u65f6\u523b\u201d\u3002<\/p>\n

\u4ece\u4f20\u7edf\u76d1\u7ba1\u8005\u5230<\/strong>\u201c<\/strong>\u52a0\u5bc6\u8001\u5175<\/strong>\u201d<\/strong><\/h3>\n

Paul Atkins\u662f\u4e00\u4f4d\u5178\u578b\u7684\u201c\u534e\u76db\u987f-\u534e\u5c14\u8857\u7a7f\u68ad\u8005\u201d\u3002\u4ed6\u6bd5\u4e1a\u4e8e\u6c83\u798f\u5fb7\u5b66\u9662\u548c\u8303\u5fb7\u5821\u5927\u5b66\u6cd5\u5b66\u9662\uff0c\u65e9\u5e74\u66fe\u4efb\u804c\u4e8e\u534e\u5c14\u8857\u9876\u7ea7\u5f8b\u6240Davis Polk\uff0c\u4ece\u4e8b\u8bc1\u5238\u53d1\u884c\u548c\u5e76\u8d2d\u7b49\u4e1a\u52a1\uff0c\u5e76\u5728\u5df4\u9ece\u5de5\u4f5c\u79ef\u7d2f\u56fd\u9645\u7ecf\u9a8c\u30021990\u5e74\u4ee3\u521d\u8fdb\u5165SEC\uff0c\u5148\u540e\u62c5\u4efb\u4e24\u4f4d\u524d\u4e3b\u5e2d\u7684\u9ad8\u7ea7\u987e\u95ee\uff0c\u4e3b\u8d23\u516c\u53f8\u6cbb\u7406\u4e0e\u5e02\u573a\u7ed3\u6784\u6539\u9769\u7b49\u8bae\u9898\u3002<\/p>\n

2002\u5e74\uff0cAtkins\u88ab\u65f6\u4efb\u603b\u7edf\u5c0f\u5e03\u4ec0\u4efb\u547d\u4e3aSEC\u4e13\u5458\u3002\u57282008\u5e74\u5378\u4efb\u524d\uff0c\u4ed6\u4ee5\u63a8\u52a8\u900f\u660e\u5316\u76d1\u7ba1\u3001\u53cd\u5bf9\u5b98\u50da\u81a8\u80c0\u8457\u79f0\uff0c\u662f\u7f8e\u56fd\u81ea\u7531\u5e02\u573a\u76d1\u7ba1\u7406\u5ff5\u7684\u4ee3\u8868\u4eba\u7269\u4e4b\u4e00\u30022009\u5e74\uff0c\u4ed6\u521b\u529e\u4e86\u5408\u89c4\u54a8\u8be2\u673a\u6784Patomak Global Partners\uff0c\u4e3a\u91d1\u878d\u673a\u6784\u548c\u52a0\u5bc6\u4f01\u4e1a\u63d0\u4f9b\u5408\u89c4\u6218\u7565\u670d\u52a1\u3002<\/p>\n

\u5728\u521b\u529ePatomak\u7684\u8fc7\u7a0b\u4e2d\uff0cAtkins\u4e0e\u52a0\u5bc6\u884c\u4e1a\u5efa\u7acb\u8d77\u6df1\u5ea6\u8054\u7cfb\u3002Atkins\u62c5\u4efb\u7f8e\u56fd\u6570\u5b57\u5546\u4f1a\u4e0b\u5c5e\u201cToken Alliance\u201d\u7684\u8054\u5408\u4e3b\u5e2d\uff0c\u4e3b\u5bfc\u5236\u5b9a\u4ee3\u5e01\u53d1\u884c\u548c\u52a0\u5bc6\u5e73\u53f0\u7684\u6700\u4f73\u5b9e\u8df5\u3002\u4ed6\u8fd8\u66fe\u4e3aSecuritize\u3001Anchorage Digital\u7b49\u77e5\u540d\u52a0\u5bc6\u516c\u53f8\u63d0\u4f9b\u6218\u7565\u54a8\u8be2\uff0c\u5e76\u6295\u8d44\u4e8e\u52a0\u5bc6\u8d44\u4ea7\u57fa\u91d1Off The Chain Capital\u3002\u8d22\u52a1\u62ab\u9732\u663e\u793a\uff0c\u5176\u5bb6\u5ead\u52a0\u5bc6\u76f8\u5173\u8d44\u4ea7\u89c4\u6a21\u9ad8\u8fbe\u6570\u767e\u4e07\u7f8e\u5143\u3002<\/p>\n

\u8fd9\u4e9b\u7ecf\u5386\u4f7f\u5f97Atkins\u6210\u4e3a\u4f20\u7edf\u76d1\u7ba1\u8005\u4e2d\u4e3a\u6570\u4e0d\u591a\u3001\u5bf9\u52a0\u5bc6\u884c\u4e1a\u65e2\u6709\u7406\u8bba\u8ba4\u77e5\u53c8\u6709\u5b9e\u6218\u7ecf\u9a8c\u7684\u4ee3\u8868\u4eba\u7269\u3002\u4e0d\u8fc7\uff0cAtkins\u7684\u52a0\u5bc6\u80cc\u666f\u4e5f\u66fe\u5f15\u53d1\u4e89\u8bae\u3002\u5728FTX\u5d29\u76d8\u524d\uff0cPatomak\u66fe\u4e3a\u5176\u63d0\u4f9b\u5408\u89c4\u5efa\u8bae\u670d\u52a1\uff0c\u8fd9\u6bb5\u7ecf\u5386\u6210\u4e3a\u5176\u63d0\u540d\u8fc7\u7a0b\u4e2d\u7684\u4e89\u8bae\u70b9\u4e4b\u4e00\u3002\u5c3d\u7ba1\u5982\u6b64\uff0c\u53c2\u8bae\u9662\u591a\u6570\u515a\u6700\u7ec8\u4ecd\u7ed9\u4e88\u652f\u6301\uff0c\u80cc\u540e\u4e0d\u4ec5\u662f\u5bf9\u5176\u4e13\u4e1a\u80fd\u529b\u7684\u8ba4\u53ef\uff0c\u4e5f\u53cd\u6620\u51fa\u7f8e\u56fd\u653f\u6cbb\u6c1b\u56f4\u4e2d\u52a0\u5bc6\u76d1\u7ba1\u6001\u5ea6\u6b63\u5728\u677e\u52a8\u3002<\/p>\n

\u76d1\u7ba1\u4e0d\u5e94\u6210\u4e3a\u521b\u65b0\u7684\u654c\u4eba<\/strong><\/h3>\n

\u4e0eGensler\u65f6\u671f\u201c\u8bc9\u8bbc\u6cbb\u7406\u884c\u4e1a\u201d\u7684\u76d1\u7ba1\u8def\u5f84\u4e0d\u540c\uff0cAtkins\u5728\u542c\u8bc1\u4f1a\u53ca\u5c31\u804c\u9996\u65e5\u5747\u660e\u786e\u8868\u6001\uff1aSEC\u7684\u4f7f\u547d\u5e94\u4ece\u201c\u901a\u8fc7\u6267\u6cd5\u754c\u5b9a\u89c4\u5219\u201d\u8f6c\u5411\u201c\u901a\u8fc7\u89c4\u5219\u5f15\u5bfc\u5408\u89c4\u201d\u3002<\/p>\n

\u4ed6\u8ba4\u4e3a\uff0c\u76d1\u7ba1\u4e0d\u80fd\u4ee5\u6253\u538b\u521b\u65b0\u4e3a\u4ee3\u4ef7\uff0c\u4e5f\u4e0d\u80fd\u8ba9\u5e02\u573a\u5728\u6cd5\u5f8b\u7070\u8272\u5730\u5e26\u4e2d\u957f\u671f\u5f77\u5fa8\u3002\u201c\u76d1\u7ba1\u4e0d\u5e94\u6210\u4e3a\u521b\u65b0\u7684\u654c\u4eba\u201d\uff0c\u800c\u5e94\u63d0\u4f9b\u201c\u7406\u6027\u3001\u660e\u786e\u3001\u53ef\u6267\u884c\u7684\u5408\u89c4\u8def\u5f84\u201d\uff0c\u8fd9\u662f\u4ed6\u5bf9\u6574\u4e2a\u52a0\u5bc6\u884c\u4e1a\u91ca\u653e\u7684\u9996\u4e2a\u5173\u952e\u4fe1\u53f7\u3002<\/p>\n

Atkins\u6279\u8bc4\u524d\u4efb\u201c\u4e00\u5200\u5207\u5c06\u52a0\u5bc6\u8d27\u5e01\u89c6\u4e3a\u8bc1\u5238\u201d\u7684\u505a\u6cd5\uff0c\u5bfc\u81f4\u5e02\u573a\u9677\u5165\u201c\u5148\u88ab\u8d77\u8bc9\u3001\u540e\u627e\u89c4\u5219\u201d\u7684\u6b7b\u5faa\u73af\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u4ed6\u503e\u5411\u4e8e\u57fa\u4e8e\u4ee3\u5e01\u529f\u80fd\u3001\u53bb\u4e2d\u5fc3\u5316\u7a0b\u5ea6\u7b49\u7ef4\u5ea6\uff0c\u6784\u5efa\u66f4\u5177\u5f39\u6027\u548c\u9002\u5e94\u6027\u7684\u76d1\u7ba1\u5206\u7c7b\u4f53\u7cfb\uff0c\u5e76\u6307\u51fa\u201c\u7f8e\u56fd\u4e0d\u5e94\u56e0\u76d1\u7ba1\u4e0d\u786e\u5b9a\u800c\u4e27\u5931\u5728Web3\u65f6\u4ee3\u7684\u7ade\u4e89\u4f18\u52bf\u201d\u3002\u8fd9\u4e0e\u52a0\u5bc6\u793e\u533a\u3001\u5f00\u53d1\u8005\u751a\u81f3\u90e8\u5206\u673a\u6784\u6295\u8d44\u8005\u591a\u5e74\u6765\u7684\u547c\u5401\u9ad8\u5ea6\u5951\u5408\u3002<\/p>\n

\u81ea4\u67089\u65e5\u53c2\u8bae\u9662\u6295\u7968\u786e\u8ba4Atkins\u5c06\u62c5\u4efb\u4e3b\u5e2d\u540e\uff0cSEC\u7684\u4e00\u7cfb\u5217\u52a8\u4f5c\u5df2\u7ecf\u4ee4\u52a0\u5bc6\u884c\u4e1a\u660e\u663e\u611f\u53d7\u5230\u76d1\u7ba1\u98ce\u5411\u7684\u53d8\u5316\uff0c\u88ab\u4e00\u4e9b\u4e1a\u5185\u4eba\u58eb\u620f\u79f0\u4e3a\u76d1\u7ba1\u673a\u6784\u53d8\u8eab\u201c\u52a0\u5bc6\u5976\u7238\u201d\uff1a<\/p>\n

1<\/strong>\u3001\u542f\u52a8\u4e0e\u52a0\u5bc6\u884c\u4e1a\u7684\u5bf9\u8bdd<\/strong>\u3002\u4e3a\u4e86\u5c3d\u5feb\u586b\u8865\u76d1\u7ba1\u7a7a\u767d\u3001\u8fbe\u6210\u4e1a\u754c\u5171\u8bc6\uff0cSEC\u52a0\u5bc6\u8d27\u5e01\u5de5\u4f5c\u7ec4<\/strong>\u8ba1\u5212\u5728\u4eca\u5e744\u6708\u81f36\u6708\u4e3e\u529e\u56db\u573a\u516c\u5f00\u5706\u684c\u4f1a\u8bae\uff0c\u6db5\u76d6\u4ea4\u6613\u6240\u76d1\u7ba1\u3001\u6258\u7ba1\u89c4\u8303\u3001DeFi\u5408\u89c4\u4ee5\u53ca\u8d44\u4ea7\u4ee3\u5e01\u5316\u7b49\u5173\u952e\u8bae\u9898\uff0c\u9080\u8bf7\u4e1a\u754c\u4ee3\u8868\u3001\u6d88\u8d39\u8005\u7ec4\u7ec7\u4e0e\u653f\u7b56\u7814\u7a76\u8005\u5171\u5546\u76d1\u7ba1\u8def\u5f84\u3002\u8fd9\u662f<\/strong>SEC<\/strong>\u5386\u53f2\u4e0a\u9996\u6b21\u5c31\u52a0\u5bc6\u8bae\u9898\u8bbe\u7acb\u7cfb\u7edf\u6027\u7684\u653f\u7b56\u534f\u5546\u673a\u5236\uff0c\u663e\u793a<\/strong>Atkins<\/strong>\u9886\u5bfc\u4e0b\u7684<\/strong>SEC <\/strong>\u5e0c\u671b\u901a\u8fc7\u503e\u542c\u884c\u4e1a\u58f0\u97f3\uff0c\u7528<\/strong>\u201c<\/strong>\u5408\u4f5c\u53d6\u4ee3\u5bf9\u6297<\/strong>\u201d<\/strong>\uff0c\u53ca\u65f6\u8c03\u6574\u653f\u7b56\u4f18\u5148\u4e8b\u9879\u3002<\/strong><\/p>\n

4\u670811\u65e5\u7684\u9996\u573a\u5706\u684c\u8bae\u9898\u4e3a\u201c\u4e3a\u52a0\u5bc6\u4ea4\u6613\u91cf\u8eab\u5b9a\u5236\u76d1\u7ba1\u201d\uff0c\u63a2\u8ba8\u5982\u4f55\u5728\u73b0\u6709\u8bc1\u5238\u6cd5\u6846\u67b6\u4e0b\u8c03\u6574\u89c4\u5219\u4ee5\u9002\u5e94\u52a0\u5bc6\u4ea4\u6613\u6240\u3002<\/p>\n

2<\/strong>\u3001\u5bc6\u8bc9\u8bbc\u6848\u4ef6\u5927\u9762\u79ef\u548c\u89e3\u6216\u64a4\u8bc9<\/strong>\u3002Atkins\u5c65\u65b0\u540e\uff0cSEC \u5bf9\u5f85\u5b58\u91cf\u52a0\u5bc6\u8bc9\u8bbc\u6848\u4ef6\u7684\u6001\u5ea6\u660e\u663e\u8f6f\u5316\u30024\u670811\u65e5\uff0cSEC\u4e0eRipple\u8fbe\u6210\u957f\u671f\u8bc9\u8bbc\u548c\u89e3\u534f\u8bae\uff0c\u7f5a\u6b3e\u91d1\u989d\u524a\u51cf\u81f35000\u4e07\u7f8e\u5143\uff0c\u4e14XRP\u672a\u88ab\u660e\u786e\u5b9a\u4e49\u4e3a\u8bc1\u5238\u3002\u4e0e\u6b64\u540c\u65f6\uff0cNova Labs\u7b49\u591a\u4e2a\u9879\u76ee\u7684\u8bc9\u8bbc\u88ab\u76f4\u63a5\u64a4\u9500\uff0c\u4e1a\u5185\u79f0\u4e4b\u4e3a\u201c\u76d1\u7ba1\u7279\u8d66\u6f6e\u201d\u3002\u8fd9\u79cd\u201c\u7ea0\u504f\u201d\u59ff\u6001\u91ca\u653e\u51fa\u660e\u786e\u4fe1\u53f7\uff1aSEC\u5c06\u5bf9\u524d\u4efb\u4efb\u5185\u52a0\u5bc6\u6267\u6cd5\u6ee5\u8bc9\u8fdb\u884c\u56de\u6eaf\u6027\u4fee\u6b63\uff0c\u5e0c\u671b\u901a\u8fc7\u8c08\u5224\u89e3\u51b3\u9057\u7559\u4e89\u8bae\uff0c\u4e3a\u884c\u4e1a\u63d0\u4f9b\u653f\u7b56\u5598\u606f\u7a7a\u95f4\u3002<\/p>\n

3<\/strong>\u3001\u52a0\u5bc6\u62ab\u9732\u6807\u51c6\u521d\u6b65\u6210\u578b<\/strong>\u3002\u540c\u6837\u57284\u670811\u65e5\uff0cSEC\u4f01\u4e1a\u878d\u8d44\u90e8\u53d1\u5e03\u4e86\u5173\u4e8e\u52a0\u5bc6\u4ee3\u5e01\u53d1\u884c\u7684\u975e\u7ea6\u675f\u6027\u4fe1\u606f\u62ab\u9732\u6307\u5f15\uff0c\u6db5\u76d6\u9879\u76ee\u67b6\u6784\u3001\u4ee3\u5e01\u529f\u80fd\u3001\u6cbb\u7406\u8bbe\u8ba1\u3001\u53d1\u5c55\u8fdb\u5ea6\u7b49\u5185\u5bb9\u3002\u8fd9\u662fSEC\u9996\u6b21\u5c1d\u8bd5\u4e3a\u52a0\u5bc6\u9879\u76ee\u63d0\u4f9b\u201c\u9884\u671f\u5185\u7684\u62ab\u9732\u6e05\u5355\u201d\uff0c\u6807\u5fd7\u5176\u76d1\u7ba1\u903b\u8f91\u5df2\u4ece\u201c\u4e8b\u540e\u6267\u6cd5\u201d\u5411\u201c\u4e8b\u524d\u6307\u5f15\u201d\u8f6c\u53d8\u3002\u201c\u52a0\u5bc6\u5988\u5988\u201dHester Peirce\u8bc4\u4ef7\u79f0\uff0c\u8fd9\u4f53\u73b0\u4e86\u65b0\u4e3b\u5e2d\u6cbb\u4e0bSEC\u613f\u610f\u201c\u4e0b\u573a\u6307\u5bfc\u201d\uff0c\u800c\u975e\u8ba9\u884c\u4e1a\u5728\u5371\u9669\u8fb9\u7f18\u6478\u7d22\u524d\u884c\u3002<\/p>\n

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3<\/strong>\u5927\u8bae\u9898\u5c06\u6210\u4e3a<\/strong>Atkins<\/strong>\u52a0\u5bc6\u65b0\u653f\u7684\u4f18\u5148\u4e8b\u9879<\/strong><\/h3>\n

\u5728\u91ca\u653e\u521d\u6b65\u53cb\u597d\u4fe1\u53f7\u540e\uff0c\u4e1a\u754c\u666e\u904d\u5173\u6ce8Atkins\u4e3b\u5bfc\u4e0bSEC\u63a5\u4e0b\u6765\u7684\u91cd\u70b9\u653f\u7b56\u8d70\u5411\u3002\u5f53\u524d\u5e02\u573a\u666e\u904d\u805a\u7126\u4e8e\u4e09\u5927\u65b9\u5411\uff1a<\/p>\n

1<\/strong>\u3001\u52a0\u901f\u7a33\u5b9a\u5e01\u7acb\u6cd5\u5de5\u4f5c<\/strong>\u3002\u7279\u6717\u666e\u591a\u6b21\u516c\u5f00\u652f\u6301\u63a8\u51fa\u89c4\u8303\u7684\u7f8e\u5143\u7a33\u5b9a\u5e01\uff0c\u4ee5\u589e\u52a0\u7f8e\u56fd\u56fd\u503a\u9700\u6c42\u3001\u5de9\u56fa\u7f8e\u5143\u5728\u6570\u5b57\u65f6\u4ee3\u7684\u4e3b\u5bfc\u5730\u4f4d\u3002Atkins\u5df2\u8868\u6001\u652f\u6301\u7531\u53c2\u8bae\u5458Bill Hagerty\u63d0\u51fa\u7684\u300aGENIUS\u6cd5\u6848\u300b\uff0c\u4e3a\u7a33\u5b9a\u5e01\u8bbe\u7acb\u8bb8\u53ef\u8bc1\u3001\u50a8\u5907\u91d1\u3001\u4fe1\u606f\u62ab\u9732\u7b49\u57fa\u672c\u6846\u67b6\uff0c\u5e76\u5efa\u8bae\u5bf9\u4e2d\u5c0f\u578b\u9879\u76ee\u63d0\u4f9b\u5dde\u7ea7\u8c41\u514d\u901a\u9053\u3002SEC\u5728\u5176\u4efb\u5185\u53ef\u80fd\u9010\u6b65\u9000\u51fa\u5bf9\u201c\u975e\u8bc1\u5238\u578b\u7a33\u5b9a\u5e01\u201d\uff08\u5982USDC\uff09\u7684\u76f4\u63a5\u5e72\u9884\uff0c\u5c06\u5176\u76d1\u7ba1\u91cd\u5fc3\u4ea4\u7531\u94f6\u884c\u76d1\u7ba1\u673a\u6784\u6216\u7acb\u6cd5\u673a\u6784\u7edf\u4e00\u5f52\u53e3\u3002\u8fd9\u5c06\u4e3a\u7a33\u5b9a\u5e01\u5408\u6cd5\u5408\u89c4\u5927\u89c4\u6a21\u4f7f\u7528\u626b\u9664\u5173\u952e\u969c\u788d\uff0c\u4e5f\u6709\u52a9\u4e8e\u63a8\u52a8\u7f8e\u56fd\u6570\u5b57\u7f8e\u5143\u751f\u6001\u5efa\u8bbe\u3002<\/p>\n

2<\/strong>\u3001\u5408\u89c4\u4ea4\u6613\u6240\u6ce8\u518c\u8def\u5f84\u6709\u671b\u6253\u901a<\/strong>\u3002\u8fc7\u53bb\u4e24\u5e74\uff0cCoinbase\u7b49\u4ea4\u6613\u6240\u9762\u4e34SEC\u8bc9\u8bbc\uff0c\u539f\u56e0\u5728\u4e8e\u201c\u672a\u6ce8\u518c\u8fd0\u8425\u8bc1\u5238\u4ea4\u6613\u5e73\u53f0\u201d\u3002Atkins\u4e3b\u5f20\u4e3a\u6b64\u7c7b\u5e73\u53f0\u8bbe\u5b9a\u4e13\u95e8\u5408\u89c4\u6846\u67b6\uff0c\u4f8b\u5982\u5141\u8bb8\u6ce8\u518c\u4e3a\u201c\u66ff\u4ee3\u4ea4\u6613\u7cfb\u7edf\u201d\uff08ATS\uff09\u6216\u201c\u52a0\u5bc6\u4e13\u7528\u5238\u5546\u201d\u3002<\/p>\n

\u636e\u300aThe Block\u300b\u63f4\u5f15SEC\u5185\u90e8\u4eba\u58eb\u62ab\u9732\uff0c\u5f53\u524d\u591a\u4e2a\u64a4\u8bc9\u52a8\u4f5c\u5df2\u5728\u51c6\u5907\u4e2d\uff0cCoinbase\u6848\u4ea6\u53ef\u80fd\u201c\u975e\u6218\u800c\u7ed3\u201d\uff0c\u4e3a\u540e\u7eed\u5408\u89c4\u8def\u5f84\u6253\u5f00\u7a7a\u95f4\u3002\u66f4\u91cd\u8981\u7684\u662f\uff0cSEC\u53ef\u80fd\u4e0d\u518d\u8bd5\u56fe\u4e00\u7edf\u76d1\u7ba1\uff0c\u800c\u662f\u4e0eCFTC\u3001FinCEN\u7b49\u673a\u6784\u534f\u8c03\uff0c\u5236\u5b9a\u201c\u8d23\u4efb\u5206\u5de5\u660e\u786e\u201d\u7684\u591a\u673a\u6784\u76d1\u7ba1\u6846\u67b6\uff0c\u4e3a\u4ea4\u6613\u6240\u53ca\u5176\u7528\u6237\u63d0\u4f9b\u66f4\u53ef\u9884\u6d4b\u7684\u73af\u5883\u3002<\/p>\n

3<\/strong>\u3001\u4ee3\u5e01\u8ba4\u5b9a\u6807\u51c6\u5c06\u88ab\u91cd\u5851<\/strong>\u3002\u5f53\u524d\u52a0\u5bc6\u5e02\u573a\u6700\u68d8\u624b\u7684\u8bae\u9898\u4e4b\u4e00\uff0c\u662f\u4f55\u79cd\u4ee3\u5e01\u5c5e\u4e8e\u8bc1\u5238\uff0c\u4f55\u79cd\u5c5e\u4e8e\u5546\u54c1\u6216\u975e\u76d1\u7ba1\u8d44\u4ea7\u3002\u8fc7\u53bbSEC\u5e7f\u6cdb\u9002\u7528Howey\u6d4b\u8bd5\u8ba4\u5b9a\u4ee3\u5e01\u4e3a\u8bc1\u5238\uff0cAtkins\u5219\u66f4\u503e\u5411\u7ed3\u5408\u4ee3\u5e01\u529f\u80fd\uff08\u5b9e\u7528\u6027 vs \u6295\u8d44\u6027\uff09\u4e0e\u53bb\u4e2d\u5fc3\u5316\u7a0b\u5ea6\u8fdb\u884c\u5206\u7c7b\u8bc4\u4f30\u3002\u4ed6\u652f\u6301\u7531\u4e13\u5458Hester Peirce\u63d0\u51fa\u7684\u201c\u5b89\u5168\u6e2f\u63d0\u6848\u201d\uff0c\u5373\u7ed9\u4e88\u521b\u4e1a\u9879\u76ee3\u5e74\u5bbd\u9650\u671f\uff0c\u5728\u65e0\u9700\u62c5\u5fc3SEC\u91c7\u53d6\u6cd5\u5f8b\u884c\u52a8\u7684\u524d\u63d0\u4e0b\u5b8c\u6210\u5206\u5e03\u5f0f\u7f51\u7edc\u5efa\u8bbe\u3002\u8fd9\u610f\u5473\u7740\u201c\u521d\u521b\u8c41\u514d + \u957f\u671f\u5408\u89c4\u201d\u7684\u53cc\u8f68\u5236\u6216\u5c06\u6210\u5f62\uff0c\u63a8\u52a8\u9879\u76ee\u53d1\u5e01\u4e0e\u878d\u8d44\u751f\u6001\u518d\u5ea6\u6d3b\u8dc3\u3002\u4e0e\u6b64\u540c\u65f6\uff0cAtkins\u652f\u6301\u201c\u53d1\u884c\u5373\u62ab\u9732\u201d\u539f\u5219\uff0c\u5373\u53ea\u8981\u4ee3\u5e01\u9879\u76ee\u5728\u53d1\u884c\u65f6\u63d0\u4f9b\u5b8c\u6574\u4fe1\u606f\u62ab\u9732\uff0c\u5177\u5907\u900f\u660e\u6cbb\u7406\u7ed3\u6784\uff0c\u5373\u53ef\u5728\u5408\u89c4\u6846\u67b6\u5185\u8fd0\u8425\u3002\u8fd9\u6216\u5c06\u6781\u5927\u7f13\u89e3\u9879\u76ee\u65b9\u7684\u5408\u89c4\u538b\u529b\uff0c\u5438\u5f15\u65b0\u4e00\u6ce2\u4ee3\u5e01\u878d\u8d44\u9879\u76ee\u56de\u6d41\u7f8e\u56fd\u5e02\u573a\u3002<\/p>\n

\u6b64\u5916\uff0cSEC\u65b0\u6210\u7acb\u7684\u5185\u90e8\u7814\u7a76\u7ec4\u6b63\u5728\u5bf9\u4e3b\u6d41\u516c\u94fe\u8d44\u4ea7\u8fdb\u884c\u5c5e\u6027\u91cd\u8bc4\uff0c\u5176\u4e2dXRP\u3001SOL\u7b49\u5177\u5e7f\u6cdb\u5e94\u7528\u57fa\u7840\u7684\u4ee3\u5e01\uff0c\u82e5\u88ab\u6392\u9664\u5728\u8bc1\u5238\u8ba4\u5b9a\u4e4b\u5916\uff0c\u5c06\u4e3a\u52a0\u5bc6ETF\u5f00\u653e\u66f4\u591a\u54c1\u79cd\u3002\u4e8b\u5b9e\u4e0a\uff0cAtkins\u5c31\u804c\u9996\u65e5\uff084\u670810\u65e5\uff09\uff0cSEC \u5df2\u5feb\u901f\u6279\u51c6\u4e86\u4ee5\u592a\u574a\u73b0\u8d27ETF\u7684\u671f\u6743\u4ea4\u6613\uff0c\u8fd9\u4e3a\u6295\u8d44\u8005\u63d0\u4f9b\u4e86\u66f4\u591a\u53c2\u4e0e\u6e20\u9053\uff0c\u91ca\u653e\u51fa\u5bf9\u52a0\u5bc6\u8d44\u4ea7\u91d1\u878d\u5316<\/strong>\u7684\u652f\u6301\u4fe1\u53f7\u3002<\/p>\n

\u7ed3\u8bed<\/strong><\/h3>\n

Paul Atkins\u7684\u4e0a\u4efb\uff0c\u4ee3\u8868\u7740\u52a0\u5bc6\u884c\u4e1a\u5728\u7f8e\u56fd\u8fdb\u5165\u4e86\u4e00\u4e2a\u65b0\u7684\u76d1\u7ba1\u5468\u671f\u3002\u7a33\u5b9a\u5e01\u5408\u89c4\u901a\u9053\u3001\u4ea4\u6613\u6240\u6ce8\u518c\u5236\u5ea6\u3001\u4ee3\u5e01\u6cd5\u5f8b\u8ba4\u5b9a\uff0c\u8fd9\u4e9b\u5173\u952e\u73af\u8282\u82e5\u80fd\u5728\u5176\u4efb\u671f\u5185\u7834\u5c40\uff0c\u5c06\u91cd\u5851\u7f8e\u56fd\u5728\u5168\u7403\u52a0\u5bc6\u6cbb\u7406\u4f53\u7cfb\u4e2d\u7684\u5730\u4f4d\u3002\u66f4\u91cd\u8981\u7684\u662f\uff0c\u76d1\u7ba1\u903b\u8f91\u7684\u53d8\u5316\u5c06\u91ca\u653e\u66f4\u5f3a\u7684\u5236\u5ea6\u4fe1\u53f7\uff1a\u4e0d\u662f\u76d1\u7ba1\u5c11\u4e86\uff0c\u800c\u662f\u76d1\u7ba1\u66f4\u6e05\u6670\u3001\u66f4\u534f\u5546\u3001\u66f4\u5177\u5efa\u8bbe\u6027\u3002<\/p>\n

\u5bf9\u52a0\u5bc6\u884c\u4e1a\u6765\u8bf4\uff0c\u8fd9\u662f\u4e00\u573a\u6765\u4e4b\u4e0d\u6613\u7684\u5598\u606f\uff0c\u4e5f\u662f\u4e00\u573a\u66f4\u9700\u7406\u6027\u4e0e\u81ea\u5f8b\u7684\u91cd\u542f\u3002\u4f46Atkins\u5e76\u975e\u201c\u653e\u4efb\u4e3b\u4e49\u8005\u201d\uff0c\u4ed6\u5728\u591a\u6b21\u53d1\u8a00\u4e2d\u91cd\u7533\uff0cSEC\u5c06\u7ee7\u7eed\u4e25\u5389\u6253\u51fb\u6b3a\u8bc8\u3001\u5185\u5e55\u4ea4\u6613\u3001\u5e02\u573a\u64cd\u7eb5\u7b49\u8fdd\u6cd5\u884c\u4e3a\uff1b\u771f\u6b63\u7684\u8f6c\u53d8\uff0c\u5728\u4e8e\u8ba9\u884c\u4e1a\u77e5\u9053\u201c\u5408\u89c4\u4e4b\u8def\u5728\u54ea\u91cc\u201d\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u672c\u6587\u4f5c\u8005\u4e3aOKG Research\u8d44\u6df1\u7814\u7a76\u5458Jason Jiang \u5317\u4eac\u65f6\u95f42025\u5e744\u670822\u65e5\uff0cPaul A […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1605","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"http:\/\/www.wancg.com\/index.php?rest_route=\/wp\/v2\/posts\/1605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.wancg.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.wancg.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.wancg.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.wancg.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1605"}],"version-history":[{"count":1,"href":"http:\/\/www.wancg.com\/index.php?rest_route=\/wp\/v2\/posts\/1605\/revisions"}],"predecessor-version":[{"id":4738,"href":"http:\/\/www.wancg.com\/index.php?rest_route=\/wp\/v2\/posts\/1605\/revisions\/4738"}],"wp:attachment":[{"href":"http:\/\/www.wancg.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.wancg.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1605"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.wancg.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}