{"id":992,"date":"2025-02-26T19:41:44","date_gmt":"2025-02-26T11:41:44","guid":{"rendered":"https:\/\/www.yixiangtian.com\/?p=992"},"modified":"2025-02-26T19:41:44","modified_gmt":"2025-02-26T11:41:44","slug":"%e7%ba%bd%e7%ba%a6%e5%ae%a2%ef%bc%9a%e9%9d%9e%e7%90%86%e6%80%a7%e7%b9%81%e8%8d%a3%ef%bc%9f%e7%89%b9%e6%9c%97%e6%99%ae%e5%8a%a0%e5%af%86%e7%83%ad%e6%bd%ae%e5%b0%86%e6%8c%81%e7%bb%ad","status":"publish","type":"post","link":"https:\/\/www.yunsiwang.com\/?p=992","title":{"rendered":"\u7ebd\u7ea6\u5ba2\uff1a\u975e\u7406\u6027\u7e41\u8363\uff1f\u201c\u7279\u6717\u666e\u52a0\u5bc6\u70ed\u6f6e\u201d\u5c06\u6301\u7eed\u591a\u4e45"},"content":{"rendered":"<div>\n<div>\n<div>\n<div>\n<div class=\"col-sm-11 col-12\">\n<div class=\"rich_text_content mt-9\">\n<p><em>\u539f\u6587\u6765\u6e90\uff1aJohn Cassidy X \u8d26\u53f7<\/em><\/p>\n<p><em>\u4f5c\u8005\uff1a John Cassidy <\/em><\/p>\n<p><em>\u7f16\u8bd1\uff1a\u6bd4\u63a8 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\u8ba4\u4e3a\u8bb8\u591a\u52a0\u5bc6\u8d44\u4ea7\u90fd\u662f\u8bc1\u5238\uff0c\u5176\u53d1\u884c\u4eba\u9762\u4e34\u5e7f\u6cdb\u7684\u6ce8\u518c\u548c\u62ab\u9732\u8981\u6c42\u3002\u8be5\u673a\u6784\u6307\u8d23 Coinbase \u7ecf\u8425\u7740\u4e00\u5bb6\u672a\u6ce8\u518c\u7684\u8bc1\u5238\u4ea4\u6613\u6240\uff0c\u5e76\u6307\u8d23 Ripple \u5728\u51fa\u552e\u5176 XRP \u52a0\u5bc6\u8d27\u5e01\u65f6\u7ec4\u7ec7\u4e86\u4e00\u6b21\u672a\u6ce8\u518c\u7684\u8bc1\u5238\u53d1\u884c\u3002\u4e24\u5bb6\u516c\u53f8\u90fd\u5426\u8ba4\u4e86\u8fd9\u4e9b\u6307\u63a7\u3002\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\uff0c\u4e00\u540d\u8054\u90a6\u6cd5\u5b98\u88c1\u5b9a\uff0c\u9488\u5bf9 Coinbase \u7684\u6848\u4ef6\u5927\u90e8\u5206\u53ef\u4ee5\u7ee7\u7eed\u8fdb\u884c\uff0c\u8fd9\u88ab\u5e7f\u6cdb\u89e3\u8bfb\u4e3a SEC \u7684\u80dc\u5229\u3002\u4f46 Ripple \u7684\u8bc9\u8bbc\u6700\u7ec8\u4ee5\u88c1\u5b9a\u8be5\u516c\u53f8\u5728\u7535\u5b50\u4ea4\u6613\u6240\u5411\u6563\u6237\u6295\u8d44\u8005\u51fa\u552e XRP \u5e76\u672a\u8fdd\u53cd\u8bc1\u5238\u6cd5\u800c\u544a\u7ec8\uff0cRipple \u79f0\u8fd9\u662f\u4e00\u6b21\u91cd\u8981\u7684\u80dc\u5229\u3002<\/p>\n<p>\u5c55\u671b\u672a\u6765\uff0c\u56fd\u9645\u5f8b\u5e08\u4e8b\u52a1\u6240 WilmerHale \u5728\u6700\u8fd1\u7684\u5ba2\u6237\u8b66\u62a5\u4e2d\u8868\u793a\uff0c\u5728\u7279\u6717\u666e\u7b2c\u4e8c\u5c4a\u653f\u5e9c\u6267\u653f\u671f\u95f4\uff0c\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\u300c\u53ef\u80fd\u4f1a\u63d0\u51fa\u91cf\u8eab\u5b9a\u5236\u7684\u89c4\u5219\uff0c\u8003\u8651\u5230\u52a0\u5bc6\u8d44\u4ea7\u548c\u4f20\u7edf\u8bc1\u5238\u4e4b\u95f4\u7684\u5dee\u5f02\u300d\uff0c\u8fd9\u6b63\u662f\u52a0\u5bc6\u884c\u4e1a\u60f3\u8981\u7684\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u5728\u56fd\u4f1a\u5c71\uff0c\u5171\u548c\u515a\u4eba\u53ef\u4ee5\u901a\u8fc7\u7acb\u6cd5\uff0c\u4f7f\u8bb8\u591a\u52a0\u5bc6\u8d27\u5e01\u53d1\u884c\u4eba\u81f3\u5c11\u90e8\u5206\u5730\u6446\u8131\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\u7684\u5173\u6ce8\uff0c\u65b9\u6cd5\u662f\u6269\u5927\u5546\u54c1\u671f\u8d27\u4ea4\u6613\u59d4\u5458\u4f1a (CFTC) \u7684\u7ba1\u8f96\u8303\u56f4\uff0c\u8be5\u59d4\u5458\u4f1a\u7684\u9884\u7b97\u548c\u6267\u6cd5\u90e8\u95e8\u89c4\u6a21\u8981\u5c0f\u5f97\u591a\u3002\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\uff0c\u4f17\u8bae\u9662\u901a\u8fc7\u4e86\u4e00\u9879\u5171\u548c\u515a\u652f\u6301\u7684\u6cd5\u6848\uff0c\u8be5\u6cd5\u6848\u5c06\u6388\u6743 CFTC \u5c06\u6570\u5b57\u8d44\u4ea7\u4f5c\u4e3a\u5546\u54c1\u8fdb\u884c\u76d1\u7ba1\uff0c\u53ea\u8981\u5b83\u4eec\u6240\u4f9d\u8d56\u7684\u533a\u5757\u94fe\u662f\u53bb\u4e2d\u5fc3\u5316\u7684\u3002Gensler \u53cd\u5bf9\u8be5\u6cd5\u6848\uff0c\u79f0\u5b83\u5c06\u524a\u5f31\u5bf9\u6295\u8d44\u8005\u7684\u4fdd\u62a4\uff0c\u5e76\u5141\u8bb8\u52a0\u5bc6\u8d27\u5e01\u53d1\u884c\u4eba\u81ea\u6211\u8ba4\u8bc1\u5176\u4ea7\u54c1\u662f\u6570\u5b57\u5546\u54c1\u800c\u4e0d\u662f\u8bc1\u5238\u3002\u9274\u4e8e\u5171\u548c\u515a\u8d62\u5f97\u4e86\u53c2\u8bae\u9662\u7684\u63a7\u5236\u6743\uff0c\u7c7b\u4f3c\u7684\u7acb\u6cd5\u53ef\u80fd\u4f1a\u5728\u90a3\u91cc\u63d0\u51fa\u5e76\u63d0\u4ea4\u603b\u7edf\u7684\u529e\u516c\u684c\u3002<\/p>\n<p>\u8fd9\u4f4d\u5373\u5c06\u4e0a\u4efb\u7684\u52a0\u5bc6\u62e5\u62a4\u8005\u5df2\u7ecf\u627f\u8bfa\u5c06\u7f8e\u56fd\u53d8\u6210\u300c\u5730\u7403\u7684\u52a0\u5bc6\u4e4b\u90fd\u300d\u3002\u52a0\u5bc6\u7231\u597d\u8005\u5c06\u671f\u5f85\u7279\u6717\u666e\u5151\u73b0\u4ed6\u7684\u7ade\u9009\u627f\u8bfa\uff0c\u5efa\u7acb\u300c\u56fd\u5bb6\u6218\u7565\u6bd4\u7279\u5e01\u50a8\u5907\u300d\u3002\u4e0a\u5468\uff0c\u7279\u6717\u666e\u4efb\u547d\u9a6c\u65af\u514b\u7684\u5408\u4f19\u4eba\u3001\u98ce\u9669\u6295\u8d44\u5bb6\u5927\u536b\u00b7\u8428\u514b\u65af (David Sacks) \u4e3a\u4ed6\u7684\u300c\u767d\u5bab\u4eba\u5de5\u667a\u80fd\u548c\u52a0\u5bc6\u6c99\u7687\u300d\uff0c\u8fd9\u8fdb\u4e00\u6b65\u9f13\u821e\u4e86\u52a0\u5bc6\u7231\u597d\u8005\u3002<\/p>\n<p>\u7406\u8bba\u4e0a\uff0c\u7f8e\u8054\u50a8\u53ef\u4ee5\u901a\u8fc7\u9650\u5236\u91d1\u878d\u6760\u6746\u3001\u63d0\u9ad8\u5229\u7387\u6216\u4e24\u8005\u517c\u800c\u6709\u4e4b\u6765\u6291\u5236\u52a0\u5bc6\u8d27\u5e01\u7684\u76db\u884c\u3002\u4f46\u662f\uff0c\u5f53\u6295\u673a\u6d3b\u52a8\u4e0d\u65ad\u6d8c\u73b0\u3001\u8d44\u4ea7\u4ef7\u683c\u98d9\u5347\u65f6\uff0c\u8fd9\u79cd\u63aa\u65bd\u5e76\u4e0d\u53d7\u6b22\u8fce\u3002<\/p>\n<p>20 \u4e16\u7eaa 90 \u5e74\u4ee3\u672b\uff0c\u5f53\u65f6\u7684\u7f8e\u8054\u50a8\u4e3b\u5e2d\u827e\u4f26\u00b7\u683c\u6797\u65af\u6f58\u5728\u6700\u521d\u8b66\u544a\u300c\u975e\u7406\u6027\u7e41\u8363\u300d\u540e\uff0c\u8896\u624b\u65c1\u89c2\uff0c\u4efb\u7531\u7eb3\u65af\u8fbe\u514b\u5927\u8dcc\u3002\uff081998 \u5e74 1 \u6708\u81f3 2000 \u5e74 3 \u6708\uff0c\u79d1\u6280\u80a1\u6307\u6570\u4e0a\u6da8\u4e86\u4e24\u500d\u3002\uff09\u76ee\u524d\uff0c\u7f8e\u8054\u50a8\u5e72\u9884\u4ee5\u538b\u4f4e\u52a0\u5bc6\u8d44\u4ea7\u7684\u53ef\u80fd\u6027\u4f3c\u4e4e\u5f88\u5c0f\u3002\u592e\u884c\u6b63\u5728\u91c7\u53d6\u884c\u52a8\u964d\u4f4e\u5229\u7387\uff0c\u800c\u4e0d\u662f\u63d0\u9ad8\u5229\u7387\uff0c\u4e0a\u5468\uff0c\u592e\u884c\u4e3b\u5e2d\u6770\u7f57\u59c6\u00b7\u9c8d\u5a01\u5c14\u5c06\u6bd4\u7279\u5e01\u4e0e\u9ec4\u91d1\u8fdb\u884c\u4e86\u6bd4\u8f83\uff0c\u5c06\u5176\u4f5c\u4e3a\u4e00\u79cd\u6295\u8d44\u8d44\u4ea7\u2014\u2014\u8bb8\u591a\u52a0\u5bc6\u4eba\u58eb\u90fd\u63d0\u51fa\u4e86\u8fd9\u4e00\u8bba\u70b9\u3002<\/p>\n<p>\u6700\u540e\uff0c\u534e\u5c14\u8857\u5f00\u59cb\u62e5\u62b1\u52a0\u5bc6\u8d27\u5e01\u3002\u5728 2023 \u5e74\u8f93\u6389\u4e00\u573a\u5173\u952e\u7684\u8bc9\u8bbc\u540e\uff0cSEC \u5728\u4eca\u5e74\u5e74\u521d\u6279\u51c6\u63a8\u51fa\u6bd4\u7279\u5e01\u4ea4\u6613\u6240\u4ea4\u6613\u57fa\u91d1 (ETF)\uff0c\u8be5\u57fa\u91d1\u8ffd\u8e2a\u52a0\u5bc6\u8d27\u5e01\u7684\u4ef7\u503c\uff0c\u6563\u6237\u6295\u8d44\u8005\u53ef\u4ee5\u8d2d\u4e70\u3002\u8d1d\u83b1\u5fb7\u3001\u5bcc\u8fbe\u548c\u5bcc\u5170\u514b\u6797\u9093\u666e\u987f\u7b49\u5927\u578b\u91d1\u878d\u516c\u53f8\u5df2\u7ecf\u63d0\u4f9b\u8fd9\u4e9b\u4ea7\u54c1\uff0c\u800c\u5609\u4fe1\u7406\u8d22\u5219\u63d0\u4f9b\u300c\u52a0\u5bc6\u4e3b\u9898 ETF\u300d\uff0c\u8fd9\u662f\u4e00\u79cd\u65e8\u5728\u8ffd\u8e2a\u591a\u79cd\u52a0\u5bc6\u8d44\u4ea7\u548c\u516c\u53f8\u4ef7\u683c\u7684\u6307\u6570\u57fa\u91d1\u3002\u81ea\u5927\u9009\u4ee5\u6765\uff0c\u6bd4\u7279\u5e01 ETF \u7684\u4ef7\u503c\u5df2\u4e0a\u6da8\u7ea6 45%\uff0c\u8fd9\u80af\u5b9a\u4f1a\u523a\u6fc0\u5176\u4ed6\u91d1\u878d\u516c\u53f8\u63a8\u51fa\u7c7b\u4f3c\u7684\u4ea7\u54c1\u3002<\/p>\n<p>\u7efc\u5408\u8003\u8651\u6240\u6709\u8fd9\u4e9b\u56e0\u7d20\uff0c\u52a0\u5bc6\u8d44\u4ea7\u7684\u4ef7\u503c\u4e0a\u6da8\u6216\u4e00\u4e9b\u89c2\u5bdf\u4eba\u58eb\u611f\u5230\u7d27\u5f20\u4e5f\u5c31\u4e0d\u8db3\u4e3a\u5947\u4e86\u3002\u5eb7\u5948\u5c14\u5927\u5b66\u7ecf\u6d4e\u5b66\u5bb6\u3001\u300a\u8d27\u5e01\u7684\u672a\u6765\uff1a\u6570\u5b57\u9769\u547d\u5982\u4f55\u6539\u53d8\u8d27\u5e01\u548c\u91d1\u878d\u300b\u4e00\u4e66\u7684\u4f5c\u8005 Eswar Prasad \u8868\u793a\uff0c\u4ed6\u62c5\u5fc3\u6700\u8fd1\u7684\u4e8b\u6001\u53d1\u5c55\u53ef\u80fd\u4f1a\u8ba9\u8bb8\u591a\u666e\u901a\u7f8e\u56fd\u4eba\u89c9\u5f97\u52a0\u5bc6\u8d44\u4ea7\u662f\u4e00\u79cd\u5b89\u5168\u7684\u6295\u8d44\uff0c\u800c\u4e0d\u662f\u4e00\u79cd\u6781\u4e0d\u7a33\u5b9a\u548c\u6295\u673a\u6027\u7684\u6295\u8d44\u3002<\/p>\n<p>Eswar Prasad 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