{"id":645,"date":"2025-02-17T03:05:19","date_gmt":"2025-02-16T19:05:19","guid":{"rendered":"https:\/\/www.db-hk.com\/?p=645"},"modified":"2025-02-17T03:05:19","modified_gmt":"2025-02-16T19:05:19","slug":"%e5%85%a8%e6%96%b0%e8%a7%86%e8%a7%92%e8%a7%a3%e8%af%bb%ef%bc%8c%e8%a2%ab%e8%af%af%e8%a7%a3%e7%9a%84sec%e4%b8%bb%e5%b8%adgary-gensler","status":"publish","type":"post","link":"http:\/\/www.fubairui.net\/?p=645","title":{"rendered":"\u5168\u65b0\u89c6\u89d2\u89e3\u8bfb\uff0c\u88ab\u8bef\u89e3\u7684SEC\u4e3b\u5e2dGary Gensler"},"content":{"rendered":"<p>\u63d0\u5230\u52a0\u5bc6\u4e16\u754c\u7684\u300c\u516c\u654c\u300d\uff0c\u4e0d\u5c11\u4eba\u7b2c\u4e00\u53cd\u5e94\u4f1a\u60f3\u5230\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\uff08SEC\uff09\uff0c\u6bcf\u4e00\u6b21\u90e8\u5206\u9879\u76ee\u6216\u77e5\u540d\u4eba\u58eb\u88ab SEC \u76ef\u4e0a\uff0c\u90fd\u4f1a\u5bfc\u81f4\u4e00\u8f6e\u884c\u60c5\u4e0b\u8dcc\uff0cSEC \u4e3b\u5e2d Gary Gensler \u66f4\u662f\u300c\u81ed\u540d\u662d\u8457\u300d\u3002<\/p>\n<p>\u4ece 2021 \u5e74 4 \u6708\u62c5\u4efb SEC \u4e3b\u5e2d\u81f3\u4eca\uff0cGary Gensler \u4efb\u671f\u5df2\u8fc7\u5927\u534a\u3002\u5728\u5176\u4efb\u671f\u5185\uff0c\u4ed6\u9891\u7e41\u5411\u52a0\u5bc6\u884c\u4e1a\u300c\u5f00\u70ae\u300d\uff0c\u53d1\u8868\u4e86\u8bf8\u5982\u300c\u52a0\u5bc6\u5e02\u573a\u7684\u4ee3\u5e01\u7edd\u5927\u591a\u6570\u90fd\u5c5e\u4e8e\u8bc1\u5238\uff0c\u6240\u4ee5\u53d1\u5e03\u548c\u9500\u552e\u8fd9\u4e9b\u8bc1\u5238\u578b\u52a0\u5bc6\u4ee3\u5e01\u4f1a\u53d7\u5230\u8bc1\u5238\u6cd5\u7684\u76d1\u7ba1\u300d\u7b49\u76d1\u7ba1\u8a00\u8bba\uff0c\u4ed6\u8fd8\u4e3b\u5bfc\u4e86\u9488\u5bf9\u5e01\u5b89\u3001Coinbase\u3001Kraken \u4ee5\u53ca FTX \u7b49\u4f17\u591a\u77e5\u540d\u52a0\u5bc6\u4f01\u4e1a\u7684\u6848\u4ef6\u3002<\/p>\n<p>\u79cd\u79cd\u8ff9\u8c61\u8868\u660e\uff0cGary Gensler \u4f3c\u4e4e\u5bf9\u52a0\u5bc6\u884c\u4e1a\u5145\u6ee1\u4e86\u504f\u89c1\uff0c\u4f46\u4e8b\u5b9e\u771f\u5982\u5927\u5bb6\u300c\u773c\u89c1\u300d\u7684\u90a3\u6837\u5417\uff1fOdaily \u661f\u7403\u65e5\u62a5\u5c06\u4ece\u4e00\u4e2a\u5168\u65b0\u7684\u89c6\u89d2\uff0c\u5e26\u5927\u5bb6\u91cd\u65b0\u8ba4\u8bc6 SEC \u4e3b\u5e2d Gary Gensler\u3002<\/p>\n<p><strong>\u9ad8\u76db\u51fa\u8eab\u7684 MIT \u6559\u4e66\u5320\uff0c\u8f6c\u8eab\u6210\u4e3a\u52a0\u5bc6\u300c\u94c1\u8155\u6559\u5b98\u300d<\/strong><\/p>\n<p><strong>Gary Gensler \u7684\u5de5\u4f5c\u7ecf\u5386\uff1a\u94c1\u8155\u662f\u4ed6\u7684\u529e\u4e8b\u98ce\u683c<\/strong><\/p>\n<p>Gensler \u51fa\u751f\u5728\u4e00\u4e2a\u72b9\u592a\u5bb6\u5ead\uff0c\u4ece\u5c0f\u5bf9\u91d1\u878d\u8033\u6fe1\u76ee\u67d3\uff0c\u6bd5\u4e1a\u540e\u6309\u90e8\u5c31\u73ed\u8fdb\u5165\u4e86\u534e\u5c14\u8857\u5de8\u9cc4\u9ad8\u76db\u5de5\u4f5c\uff0c\u5e76\u5728 30 \u5c81\u65f6\u6210\u4e3a\u5f53\u65f6\u9ad8\u76db\u6700\u5e74\u8f7b\u7684\u5408\u4f19\u4eba\u4e4b\u4e00\uff0c\u6700\u7ec8\u5728\u9ad8\u76db\u8015\u8018\u4e86 18 \u5e74\u9752\u6625\u3002<\/p>\n<p>1995 \u5e74\uff0c\u9ad8\u76db\u9996\u5e2d\u6267\u884c\u5b98 Robert Rubin \u51fa\u4efb\u7f8e\u56fd\u8d22\u653f\u90e8\u90e8\u957f\uff0cGensler \u8ffd\u968f Rubin \u52a0\u5165\u7f8e\u56fd\u8d22\u653f\u90e8\u51fa\u4efb\u91d1\u878d\u5e02\u573a\u52a9\u7406\u90e8\u957f\uff0c\u6b63\u5f0f\u5f00\u542f\u4ed5\u9014\u3002<\/p>\n<p>Gensler \u4e00\u76f4\u662f\u575a\u5b9a\u7684\u6c11\u4e3b\u515a\u4eba\u58eb\uff0c\u5728 2008 \u5e74\u4e3a\u5965\u5df4\u9a6c\u7684\u7ade\u9009\u603b\u7edf\u6d3b\u52a8\u63d0\u4f9b\u5efa\u8bae\uff0c\u540e\u5728\u5965\u5df4\u9a6c\u62c5\u4efb\u603b\u7edf\u671f\u95f4\uff0c\u51fa\u4efb\u7f8e\u56fd\u5546\u54c1\u671f\u8d27\u4ea4\u6613\u59d4\u5458\u4f1a\uff08CFTO\uff09\u4e3b\u5e2d\u3002\u5f53\u65f6\u6b63\u503c\u91d1\u878d\u5371\u673a\u8fc7\u540e\uff0c\u884d\u751f\u54c1\u5e02\u573a\u6b63\u5904\u4e8e\u767e\u5e9f\u5f85\u5174\u7684\u9636\u6bb5\uff0cGensler \u4ece\u76d1\u7ba1\u5165\u624b\uff0c\u4e0d\u65ad\u63a8\u51fa\u76d1\u7ba1\u65b0\u89c4\uff0c\u5e2e\u52a9\u7f8e\u56fd\u884d\u751f\u54c1\u5e02\u573a\u91cd\u5efa\u5e02\u573a\u79e9\u5e8f\u3002\u7531\u6b64\uff0cGensler \u88ab\u79f0\u4e3a\u300c\u91d1\u878d\u5371\u673a\u540e\u7684\u4e3b\u8981\u6539\u9769\u8005\u4e4b\u4e00\u300d<\/p>\n<p>\u5728\u5965\u5df4\u9a6c\u4efb\u671f\u540e\uff0cGensler \u8fd8\u62c5\u4efb\u5e0c\u62c9\u91cc 2016 \u5e74\u603b\u7edf\u7ade\u9009\u7684\u9996\u5e2d\u8d22\u52a1\u5b98\u3002\u968f\u7740\u7279\u6717\u666e\u7684\u80dc\u9009\uff0c\u4ed5\u9014\u65e0\u671b\u7684 Gensler \u524d\u5f80\u9ebb\u7701\u7406\u5de5\u5b66\u9662\uff08MIT\uff09\u4efb\u804c\uff0c\u6559\u6388\u300a\u533a\u5757\u94fe\u548c\u8d27\u5e01\u300b\u8bfe\u7a0b\u3002<\/p>\n<p>\u5728\u4efb\u8bfe\u671f\u95f4\uff0cGensler \u9f13\u52b1\u5b66\u751f\u53c2\u4e0e\u533a\u5757\u94fe\u884c\u4e1a\uff0c\u5e76\u4ee5 Algorand \u4e3a\u4f8b\u8d5e\u626c\u533a\u5757\u94fe\u53ef\u4ee5\u6539\u53d8\u751f\u6d3b\u3002\u300c\u6216\u8bb8 5 \u5e74\u4e4b\u540e\uff0c\u4f60\u53ef\u4ee5\u5728\u533a\u5757\u94fe\u4e0a\u6253\u9020 Uber \u6216 Lyft\u2026\u2026\u5c4a\u65f6\u533a\u5757\u94fe\u5728\u6027\u80fd\u4e0a\u4f1a\u6709\u4e00\u5b9a\u7684\u5f3a\u5ea6\uff0c\u5982 Silvio Micali \u7684 Algorand\uff0c\u4ed6\u662f\u9ebb\u7701\u7406\u5de5\u5b66\u9662\u56fe\u7075\u5956\u5f97\u4e3b\uff0c\u6211\u4eec\u66fe\u4e00\u540c\u5de5\u4f5c\uff0cSilvio \u5177\u5907\u4f1f\u5927\u6280\u672f\u53ca\u6027\u80fd\uff0c\u4f60\u80fd\u5728\uff08Algorand\uff09\u4e4b\u4e0a\u5f00\u53d1 Uber\u3002\u300d<\/p>\n<p>2020 \u5e74\u62dc\u767b\u593a\u5f97\u5f53\u5e74\u5927\u9009\u80dc\u5229\uff0cGensler \u4e5f\u88ab\u62dc\u767b\u63d0\u540d\u4e3a SEC \u4e3b\u5e2d\uff0c\u5f00\u542f\u4e86\u4ed6\u4e0e\u52a0\u5bc6\u884c\u4e1a\u7684\u7ea0\u845b\u3002<\/p>\n<p>\u4ece Gensler \u7684\u5de5\u4f5c\u7ecf\u5386\u4e2d\u4e0d\u96be\u53d1\u73b0\uff0c\u5982\u4eca\u4ed6\u5f3a\u786c\u7684\u76d1\u7ba1\u98ce\u683c\u6765\u6e90\u4e8e\u62c5\u4efb CFTO \u4e3b\u5e2d\u671f\u95f4\u3002\u6216\u8bb8\u5728\u4ed6\u5fc3\u4e2d\uff0c\u76ee\u524d\u7684\u52a0\u5bc6\u884c\u4e1a\u548c\u91d1\u878d\u5371\u673a\u8fc7\u540e\u7684\u884d\u751f\u54c1\u5e02\u573a\u6709\u7740\u76f8\u4f3c\u4e4b\u5904\u3002\u4f46\u4f5c\u8005\u76f8\u4fe1\u4ece\u4ed6\u5728 MIT \u4efb\u8bfe\u9636\u6bb5\u4e2d\u5bf9\u52a0\u5bc6\u884c\u4e1a\u7684\u70ed\u7231\u5e76\u4e0d\u662f\u4f2a\u88c5\u7684\u3002\u5982\u6b64\u77db\u76fe\u7684\u7ecf\u5386\u51fa\u73b0\u5728 Gensler \u8eab\u4e0a\uff0c\u60f3\u5fc5\u4e5f\u9020\u6210\u4e86\u5927\u4f17\u5bf9\u4ed6\u7684\u8bef\u5224\u3002<\/p>\n<p><strong>\u7ec6\u6570 Gensler \u4efb\u804c\u671f\u95f4\u5bf9\u52a0\u5bc6\u884c\u4e1a\u7684\u6267\u6cd5\u884c\u52a8<\/strong><\/p>\n<p>\u4ece 2021 \u5e74\u5230 2024 \u5e74\uff0cGensler \u9886\u8854\u7684 SEC \u5bf9\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u91c7\u53d6\u4e86\u8bb8\u591a\u91cd\u8981\u7684\u6267\u6cd5\u884c\u52a8\u3002\u4ee5\u4e0b\u662f\u4e00\u4e9b\u8be6\u7ec6\u6848\u4f8b\uff1a<\/p>\n<p>Ripple Labs\uff1a<\/p>\n<ul class=\"wp-block-list\">\n<li>\u6848\u4ef6\u6982\u8981\uff1aSEC \u5728 2020 \u5e74 12 \u6708\u5bf9 Ripple Labs \u63d0\u8d77\u8bc9\u8bbc\uff0c\u6307\u63a7\u5176\u901a\u8fc7\u51fa\u552e XRP \u4ee3\u5e01\u8fdb\u884c\u672a\u6ce8\u518c\u8bc1\u5238\u53d1\u884c\u3002\u8be5\u6848\u4ef6\u5728 2021 \u5e74\u7ee7\u7eed\u63a8\u8fdb\uff0cRipple \u6297\u8fa9\u79f0 XRP \u4e0d\u662f\u8bc1\u5238\u3002<\/li>\n<li>\u7ed3\u679c\uff1a 2023 \u5e74 7 \u6708\u7684\u6cd5\u9662\u5224\u51b3\u4e2d\uff0cRipple \u83b7\u5f97\u4e00\u5b9a\u7684\u80dc\u5229\uff0c\u90e8\u5206\u884c\u4e3a\u88ab\u8ba4\u5b9a\u4e0d\u5c5e\u4e8e\u8bc1\u5238\uff0c\u4f46\u4ecd\u5b58\u5728\u8fdd\u89c4\u4e4b\u5904\uff1b\u800c\u540e SEC \u8981\u6c42 Ripple \u8981\u6c42\u652f\u4ed8\u8fd1 20 \u4ebf\u7f8e\u5143\u7f5a\u6b3e\uff0c\u76ee\u524d\u4ecd\u5728\u7b49\u5f85\u6700\u7ec8\u5224\u51b3\u3002<\/li>\n<\/ul>\n<p>Coinbase\uff1a<\/p>\n<ul class=\"wp-block-list\">\n<li>\u6848\u4ef6\u6982\u8981\uff1a 2021 \u5e74 9 \u6708\uff0cSEC \u8b66\u544a Coinbase \u5176\u8ba1\u5212\u63a8\u51fa\u7684\u501f\u8d37\u4ea7\u54c1\u53ef\u80fd\u6784\u6210\u672a\u6ce8\u518c\u8bc1\u5238\uff0c\u5e76\u5a01\u80c1\u8981\u8d77\u8bc9 Coinbase\u3002<\/li>\n<li>\u7ed3\u679c\uff1aCoinbase \u53d6\u6d88\u4e86\u501f\u8d37\u4ea7\u54c1\u7684\u63a8\u51fa\uff0c\u5e76\u7ee7\u7eed\u4e0e SEC \u5408\u4f5c\u4ee5\u786e\u4fdd\u5176\u5176\u4ed6\u4ea7\u54c1\u7684\u5408\u89c4\u6027\u3002<\/li>\n<\/ul>\n<p>BitConnect\uff1a<\/p>\n<ul class=\"wp-block-list\">\n<li>\u6848\u4ef6\u6982\u8981\uff1aSEC \u5bf9 BitConnect \u53ca\u5176\u521b\u59cb\u4eba\u63d0\u8d77\u8bc9\u8bbc\uff0c\u6307\u63a7\u5176\u8fdb\u884c\u4ef7\u503c\u8d85\u8fc7 20 \u4ebf\u7f8e\u5143\u7684\u5e9e\u6c0f\u9a97\u5c40\u3002<\/li>\n<li>\u7ed3\u679c\uff1aBitConnect \u7684\u591a\u4e2a\u9ad8\u5c42\u88ab\u8d77\u8bc9\uff0c\u6848\u4ef6\u4ecd\u5728\u5904\u7406\u4e2d\u3002<\/li>\n<\/ul>\n<p>BlockFi\uff1a<\/p>\n<ul class=\"wp-block-list\">\n<li>\u6848\u4ef6\u6982\u8981\uff1aSEC \u6307\u63a7 BlockFi \u63d0\u4f9b\u672a\u6ce8\u518c\u7684\u52a0\u5bc6\u501f\u8d37\u4ea7\u54c1\uff0c\u8be5\u4ea7\u54c1\u6784\u6210\u8bc1\u5238\u3002<\/li>\n<li>\u7ed3\u679c\uff1aBlockFi \u540c\u610f\u652f\u4ed8 1 \u4ebf\u7f8e\u5143\u7684\u7f5a\u6b3e\u4ee5\u8fbe\u6210\u548c\u89e3\uff0c\u5176\u4e2d 5000 \u4e07\u7f8e\u5143\u652f\u4ed8\u7ed9 SEC\uff0c\u53e6 5000 \u4e07\u7f8e\u5143\u652f\u4ed8\u7ed9\u5404\u5dde\u76d1\u7ba1\u673a\u6784\u3002<\/li>\n<\/ul>\n<p>Kraken\uff1a<\/p>\n<ul class=\"wp-block-list\">\n<li>\u6848\u4ef6\u6982\u8981\uff1aSEC \u6307\u63a7 Kraken \u7684\u8d28\u62bc\u8ba1\u5212\u6784\u6210\u672a\u6ce8\u518c\u7684\u8bc1\u5238\u3002<\/li>\n<li>\u7ed3\u679c\uff1aKraken \u540c\u610f\u652f\u4ed8 3000 \u4e07\u7f8e\u5143\u7684\u7f5a\u6b3e\u4ee5\u8fbe\u6210\u548c\u89e3\u3002<\/li>\n<\/ul>\n<p>FTX \u548c SBF\uff08Sam Bankman-Fried\uff09\uff1a<\/p>\n<ul class=\"wp-block-list\">\n<li>\u6848\u4ef6\u6982\u8981\uff1a 2022 \u5e74 11 \u6708\uff0cFTX \u56e0\u6d41\u52a8\u6027\u5371\u673a\u7834\u4ea7\uff0c\u66b4\u9732\u51fa\u8d22\u52a1\u7ba1\u7406\u548c\u98ce\u9669\u63a7\u5236\u95ee\u9898\u30022023 \u5e74\uff0cSBF \u88ab\u6307\u63a7\u6b3a\u8bc8\u548c\u632a\u7528\u8d44\u91d1\u3002<\/li>\n<li>\u7ed3\u679c\uff1aSBF \u9762\u4e34\u591a\u9879\u6cd5\u5f8b\u8bc9\u8bbc\uff0c\u6848\u4ef6\u4ecd\u5728\u5904\u7406\u4e2d\u3002<\/li>\n<\/ul>\n<p>\u5e01\u5b89\uff08Binance\uff09\u548c CZ\uff08Changpeng Zhao\uff09\uff1a<\/p>\n<ul class=\"wp-block-list\">\n<li>\u6848\u4ef6\u6982\u8981\uff1aSEC \u5bf9\u5e01\u5b89\u53ca\u5176\u521b\u59cb\u4eba CZ \u5c55\u5f00\u8c03\u67e5\uff0c\u6307\u63a7\u5176\u6d89\u5acc\u6b3a\u8bc8\u6295\u8d44\u8005\uff0c\u5e76\u672a\u6ce8\u518c\u5176\u4ea4\u6613\u6240\u4e1a\u52a1\u3002<\/li>\n<li>\u7ed3\u679c\uff1aBinance \u540c\u610f\u88ab\u6ca1\u6536 25 \u4ebf\u7f8e\u5143\uff0c\u5e76\u652f\u4ed8 18 \u4ebf\u7f8e\u5143\u7684\u5211\u4e8b\u7f5a\u6b3e\uff0c\u603b\u8ba1\u7f5a\u6b3e 43 \u4ebf\u7f8e\u5143\u3002CZ \u88ab\u5224\u5904 4 \u4e2a\u6708\u76d1\u7981\u3002<\/li>\n<\/ul>\n<p>Genesis \u548c Gemini\uff1a<\/p>\n<ul class=\"wp-block-list\">\n<li>\u6848\u4ef6\u6982\u8981\uff1aSEC \u5bf9\u52a0\u5bc6\u8d27\u5e01\u501f\u8d37\u5e73\u53f0 Genesis \u548c\u52a0\u5bc6\u4ea4\u6613\u6240 Gemini \u63d0\u8d77\u8bc9\u8bbc\uff0c\u6307\u63a7\u5176\u901a\u8fc7\u672a\u6ce8\u518c\u7684\u52a0\u5bc6\u501f\u8d37\u4ea7\u54c1\u5438\u5f15\u6295\u8d44\u8005\uff0c\u8fdd\u53cd\u4e86\u8bc1\u5238\u6cd5\u3002<\/li>\n<li>\u7ed3\u679c\uff1a\u6848\u4ef6\u4ecd\u5728\u8fdb\u884c\u4e2d\u3002<\/li>\n<\/ul>\n<p>Terraform Labs \u548c Do Kwon\uff1a<\/p>\n<ul class=\"wp-block-list\">\n<li>\u6848\u4ef6\u6982\u8981\uff1aSEC \u5bf9 Terraform Labs \u53ca\u5176\u521b\u59cb\u4eba Do Kwon \u63d0\u8d77\u8bc9\u8bbc\uff0c\u6307\u63a7\u5176\u6b3a\u8bc8\u6295\u8d44\u8005\u5e76\u8bef\u5bfc\u516c\u4f17\uff0c\u6d89\u53ca\u672a\u6ce8\u518c\u8bc1\u5238\u7684\u53d1\u884c\u548c\u9500\u552e\u3002<\/li>\n<li>\u7ed3\u679c\uff1a\u6848\u4ef6\u4ecd\u5728\u5ba1\u7406\u4e2d\uff0cDo Kwon \u548c Terraform Labs \u9762\u4e34\u4e25\u91cd\u7684\u6cd5\u5f8b\u540e\u679c\u3002<\/li>\n<\/ul>\n<p>\u4ece\u4e0a\u8ff0\u4e3e\u4f8b\u7684\u76f8\u5173\u6848\u4ef6\u6765\u770b\uff0cGensler \u7387\u9886\u7684 SEC \u5bf9\u52a0\u5bc6\u4ea4\u6613\u6240\u63a8\u51fa\u7684\u8d28\u62bc\u548c\u501f\u8d37\u4ea7\u54c1\u51e0\u4e4e\u96f6\u5bb9\u5fcd\uff0c\u5176\u6b21\u662f\u76f8\u5173\u9ed1\u5929\u9e45\u4e8b\u4ef6\u7684\u8ffd\u8d23\uff0c\u6700\u540e\u662f\u53cd\u6b3a\u8bc8\u548c\u53cd\u6d17\u94b1\u76f8\u5173\u7684\u6848\u4ef6\u3002\u4ee5\u4e0a\u4e09\u7c7b\u6267\u6cd5\u884c\u52a8\u66f4\u5bb9\u6613\u4e3a\u52a0\u5bc6\u884c\u4e1a\u63a5\u53d7\u7684\uff0c\u4e5f\u6709\u5229\u4e8e\u884c\u4e1a\u7684\u53d1\u5c55\u3002\u4f46 SEC \u5728\u5224\u65ad\u4ee3\u5e01\u662f\u5426\u5c5e\u4e8e\u300c\u8bc1\u5238\u300d\u7684\u95ee\u9898\u4e0a\u5f15\u53d1\u4e86\u5927\u4f17\u7684\u8d28\u7591\u3002<\/p>\n<p>\u76ee\u524d SEC \u5224\u65ad\u6807\u51c6\u6765\u6e90\u4e8e\u8c6a\u5a01\u6d4b\u8bd5\uff08Howey Test\uff09\uff0c\u5b83\u662f\u6839\u636e\u7f8e\u56fd\u6700\u9ad8\u6cd5\u9662\u5728 1936 \u5e74\u5224\u51b3\u7684\u6848\u4ef6\u300aSEC v. W.J. Howey Co.\u300b\u4e2d\u5236\u5b9a\u7684\u3002\u8c6a\u5a01\u6d4b\u8bd5\u7684\u4e3b\u8981\u539f\u5219\u662f\uff0c\u5982\u679c\u4ea4\u6613\u6d3b\u52a8\u5168\u90e8\u6ee1\u8db3\u4ee5\u4e0b\u6761\u4ef6\u5c06\u88ab\u8ba4\u4e3a\u662f\u8bc1\u5238\u53d1\u884c\uff1a<\/p>\n<ul class=\"wp-block-list\">\n<li>\u6295\u8d44\u8005\u6295\u8d44\u91d1\u94b1\u6216\u5176\u4ed6\u53ef\u66ff\u4ee3\u7684\u8d44\u4ea7\uff1b<\/li>\n<li>\u6295\u8d44\u8005\u7684\u6295\u8d44\u662f\u5728\u4e00\u4e2a\u5171\u540c\u4f01\u4e1a\u4e2d\uff1b<\/li>\n<li>\u6295\u8d44\u8005\u9884\u671f\u4f9d\u8d56\u4e8e\u7b2c\u4e09\u65b9\uff08\u901a\u5e38\u662f\u516c\u53f8\u6216\u5176\u4ed6\u5b9e\u4f53\uff09\u7684\u52aa\u529b\u6765\u83b7\u5f97\u6295\u8d44\u56de\u62a5\uff1b<\/li>\n<li>\u6295\u8d44\u8005\u7684\u56de\u62a5\u4e3b\u8981\u53d6\u51b3\u4e8e\u7b2c\u4e09\u65b9\u7684\u52aa\u529b\u3002<\/li>\n<\/ul>\n<p>\u8fd9\u56db\u70b9\u6761\u4ef6\u901a\u5e38\u9700\u8981\u5168\u90e8\u6ee1\u8db3\uff0c\u4f46\u4ee3\u5e01\u5176\u5b9e\u8f83\u4e3a\u590d\u6742\u7684\uff0c\u53ef\u80fd\u5728\u67d0\u4e9b\u6d3b\u52a8\u4e2d\u6ee1\u8db3\u4e0a\u8ff0\u6761\u4ef6\uff0c\u4f46\u6709\u4e9b\u6d3b\u52a8\u53c8\u4e0d\u5c5e\u4e8e\uff0c\u8fd9\u5c31\u9020\u6210\u300c\u516c\u8bf4\u516c\u6709\u7406\uff0c\u5a46\u8bf4\u5a46\u6709\u7406\u300d\u7684\u5c34\u5c2c\u5c40\u9762\u3002Gensler \u56e0\u6b64\u62db\u6765\u52a0\u5bc6\u884c\u4e1a\u7684\u5632\u8bbd\u3002<\/p>\n<p><strong>Gensler \u867d\u8eab\u62ab\u9a82\u540d\uff0c\u4f46\u4ecd\u4fc3\u8fdb\u52a0\u5bc6\u884c\u4e1a\u5411\u4e3b\u6d41\u91d1\u878d\u7684\u878d\u5408<\/strong><\/p>\n<p>\u52a0\u5bc6\u884c\u4e1a\u5bf9\u4e8e Gensler \u7684\u770b\u6cd5\u5927\u591a\u662f\u8d2c\u4e49\u7684\uff0c\u8ba4\u4e3a\u4ed6\u6b63\u5728\u9010\u6e10\u6bc1\u4e86\u52a0\u5bc6\u884c\u4e1a\u7b49\u76f8\u5173\u8a00\u8bba\u5c61\u89c1\u4e0d\u9c9c\uff0c\u57fa\u672c\u4e0a\u5927\u90e8\u5206\u6587\u7ae0\u4e5f\u662f\u4ece\u8fd9\u4e2a\u89d2\u5ea6\u6765\u62a8\u51fb Gensler \u53ca SEC\u3002<\/p>\n<p>\u8fd9\u4e2a\u89d2\u5ea6\u771f\u7684\u6b63\u786e\u5417\uff1f\u4f9d\u4f5c\u8005\u6765\u770b\uff0c\u6b64\u7c7b\u770b\u6cd5\u6709\u5931\u504f\u9887\uff0c\u7eb5\u89c2\u6574\u4e2a\u52a0\u5bc6\u884c\u4e1a 15 \u5e74\u7684\u5386\u53f2\uff0c\u5386\u5c4a SEC \u5bf9\u52a0\u5bc6\u884c\u4e1a\u7684\u4fc3\u8fdb\u4f5c\u7528\u4e0d\u5982 Gensler \u4efb\u804c\u7684\u4e09\u5e74\u3002<\/p>\n<p>\u7ec6\u6570\u5728 Gensler \u4ece 2021 \u5e74 4 \u6708\u5230\u5982\u4eca\u5bf9\u52a0\u5bc6\u884c\u4e1a\u4ea7\u751f\u79ef\u6781\u5f71\u54cd\u7684\u91cd\u5927\u4e8b\u4ef6\u3002<\/p>\n<ul class=\"wp-block-list\">\n<li>2021 \u5e74 10 \u6708\uff0c\u7b2c\u4e00\u4e2a\u6bd4\u7279\u5e01\u671f\u8d27 ETF \u4e0a\u5e02\u3002<\/li>\n<li>2024 \u5e74 1 \u6708\uff0c\u7b2c\u4e00\u4e2a\u6bd4\u7279\u5e01\u73b0\u8d27 ETF \u4e0a\u5e02\u3002<\/li>\n<li>2024 \u5e74 5 \u6708\uff0c\u6279\u51c6\u4ee5\u592a\u574a\u73b0\u8d27 ETF \u7684 19 b-4 \u6587\u4ef6\u3002\uff08\u591a\u5bb6\u673a\u6784\u8868\u793a\u672c\u6708\u4ee5\u592a\u574a\u73b0\u8d27 ETF \u4ea7\u54c1\u5c06\u4e0a\u7ebf\uff09<\/li>\n<\/ul>\n<p>\u4ee5\u4e0a\u4e09\u4e2a\u91cd\u5927\u4e8b\u4ef6\u5bf9\u4e8e\u52a0\u5bc6\u884c\u4e1a\u6765\u8bb2\u7684\u610f\u4e49\u975e\u540c\u51e1\u54cd\u3002<\/p>\n<p>\u4f5c\u8005\u4ece\u4eb2\u8eab\u7ecf\u5386\u4e3e\u4f8b\uff0c\u4e4b\u524d\u88ab\u5468\u56f4\u4eba\u95ee\u5230\u4ece\u4e8b\u4ec0\u4e48\u884c\u4e1a\uff0c\u63d0\u5230\u52a0\u5bc6\u3001\u865a\u62df\u8d27\u5e01\u4ee5\u53ca\u6bd4\u7279\u5e01\u7b49\u76f8\u5173\u5b57\u773c\uff0c\u90fd\u4f1a\u544a\u8beb\u6211\u300c\u8fd9\u4e2a\u884c\u4e1a\u6709\u95ee\u9898\uff0c\u5c3d\u65e9\u627e\u4e2a\u6b63\u7ecf\u884c\u4e1a\u300d\uff0c\u4f5c\u8005\u57fa\u672c\u4e0a\u53ea\u80fd\u62a5\u4ee5\u5fae\u7b11\u3002\u6bd5\u7adf\u4ece\u6b64\u524d\u5404\u65b9\u6001\u5ea6\u548c\u884c\u4e1a\u73b0\u72b6\u6765\u770b\uff0c\u786e\u5b9e\u4e0d\u597d\u53cd\u9a73\u3002\u4f46\u4eca\u5e74\u5728\u63d0\u53ca\u6b64\u7c7b\u95ee\u9898\u65f6\uff0c\u5468\u56f4\u4eba\u90fd\u80fd\u60f3\u5230\u7f8e\u56fd\u4e0a\u7ebf\u6bd4\u7279\u5e01\u73b0\u8d27 ETF \u548c\u9999\u6e2f\u5bf9 Web3 \u7684\u79ef\u6781\u6001\u5ea6\uff0c\u7eb7\u7eb7\u5411\u4f5c\u8005\u8be2\u95ee\u884c\u4e1a\u7684\u76f8\u5173\u52a8\u6001\uff0c\u5728\u8c08\u53ca\u76f8\u5173\u9879\u76ee\u65f6\u4e5f\u4e0d\u7528\u907f\u8bb3\u3002<\/p>\n<p>\u4ece\u4e0a\u8ff0\u7ecf\u5386\u6765\u770b\uff0cSEC \u6279\u51c6\u52a0\u5bc6\u8d27\u5e01\u7684 ETF \u662f\u5c06\u52a0\u5bc6\u884c\u4e1a\u6b63\u5f0f\u8d70\u8fdb\u4e3b\u6d41\u4e16\u754c\u7684\u80cc\u4e66\uff0c\u4f7f\u52a0\u5bc6\u884c\u4e1a\u4ee5\u4e00\u4e2a\u6b63\u5f0f\u7684\u8eab\u4efd\u4eae\u76f8\u5168\u7403\u3002\u4ec5\u51ed\u8fd9\u4e00\u70b9\uff0cGensler \u5c31\u8db3\u4ee5\u5728\u52a0\u5bc6\u884c\u4e1a\u7684\u5386\u53f2\u4e2d\u5360\u6709\u4e00\u5e2d\u4e4b\u5730\u3002<\/p>\n<p>\u6216\u8bb8\u4e5f\u6709\u4eba\u8ba4\u4e3a\uff0c\u5c31\u7b97\u6362\u4e00\u4e2a\u4eba\u62c5\u4efb SEC \u4e3b\u5e2d\uff0c\u5728\u5982\u4eca\u7684\u5927\u52bf\u6240\u8d8b\u4e0b\uff0c\u540c\u6837\u4e5f\u4f1a\u6279\u51c6\u52a0\u5bc6\u8d27\u5e01 ETF\u3002\u4f46\u6b64\u7c7b\u770b\u6cd5\u96be\u9053\u4e0d\u662f\u300c\u9a6c\u540e\u70ae\u300d\u5417\uff1f\u5982\u4eca\u7684\u5927\u52bf\u5982\u4f55\u5f62\u6210\uff0c\u4ee5\u53ca SEC \u5728\u6279\u51c6\u52a0\u5bc6\u8d27\u5e01 ETF \u4e2d\u7684\u4f5c\u7528\u662f\u5426\u88ab\u4f4e\u4f30\uff0c\u8fd9\u90fd\u65e0\u6cd5\u53bb\u8861\u91cf\u3002\u4f46\u4e3b\u6d41\u4e16\u754c\u7684\u8d44\u91d1\u80fd\u8fdb\u5165\u52a0\u5bc6\u884c\u4e1a\uff0c\u4e0d\u4e5f\u662f\u4ee5\u5b89\u5168\u6027\u4e3a\u524d\u63d0\uff0c\u76f8\u6bd4\u4e8e\u6b64\u7c7b\u8bf4\u6cd5\uff0c\u4f5c\u8005\u8ba4\u4e3a\u8fd9\u4e9b\u4e3b\u6d41\u8d44\u91d1\u4f1a\u66f4\u76f8\u4fe1\u56fd\u5bb6\u7ea7\u7684\u80cc\u4e66\u6240\u5e26\u6765\u7684\u5b89\u5168\u3002<\/p>\n<p>\u540c\u65f6\u5927\u90e8\u5206\u4eba\u8ba4\u4e3a Gensler \u7387\u9886\u7684 SEC \u540c\u6837\u4e5f\u5bf9\u52a0\u5bc6\u884c\u4e1a\u5e26\u6765\u4e00\u5b9a\u7684\u6d88\u6781\u5f71\u54cd\uff0c\u5c24\u5176\u662f\u884c\u60c5\u7684\u4e0b\u8dcc\u548c\u76f8\u5173\u9879\u76ee\u7684\u53d1\u5c55\u3002\u4f46\u770b SEC \u7684\u6267\u6cd5\u6d3b\u52a8\uff0c\u5176\u4e2d\u4e00\u90e8\u5206\u662f\u9ed1\u5929\u9e45\u4e8b\u4ef6\uff0c\u6bd4\u5982 FTX\u3001BitConnect \u7b49\uff0c\u8fd9\u79cd\u4e8b\u4ef6\u662f\u300c\u7eb8\u5305\u4e0d\u4f4f\u706b\u300d\u5fc5\u7136\u4f1a\u5f15\u8d77\u884c\u60c5\u6ce2\u52a8\u7684\uff0c\u5269\u4e0b\u7684\u5927\u591a\u662f\u8bc1\u5238\u7c7b\u4ee3\u5e01\u5224\u5b9a\u95ee\u9898\u3002\u4ece\u4fa7\u9762\u53cd\u5e94\uff0c\u8fd9\u4e5f\u662f\u4e3b\u6d41\u4e16\u754c\u5728\u8bbe\u6cd5\u4e3a\u52a0\u5bc6\u884c\u4e1a\u5f62\u6210\u4e00\u4e2a\u884c\u4e8b\u6846\u67b6\u3002\u867d\u7136\u76ee\u524d\u6846\u67b6\u7684\u6700\u7ec8\u5224\u5b9a\u4f9d\u65e7\u6ca1\u6709\u5b9a\u8bba\uff0c\u4f46\u8fd9\u4e5f\u662f Gensler \u53ca SEC \u79ef\u6781\u5c1d\u8bd5\u7684\u5fc5\u7ecf\u4e4b\u8def\u3002<\/p>\n<p>\u81f3\u4e8e\u77ed\u671f\u6240\u5e26\u6765\u7684\u884c\u60c5\u6ce2\u52a8\u4f1a\u88ab\u65f6\u95f4\u6240\u62b9\u5e73\uff0c\u7ec8\u5f52\u53ea\u662f\u884c\u60c5\u8d8b\u52bf\u4e2d\u4e00\u4e2a\u5c0f\u5c0f\u7684\u8d77\u4f0f\uff0c\u4f46\u8fd1\u51e0\u5e74 SEC \u6279\u51c6\u7684\u52a0\u5bc6\u8d27\u5e01 ETF \u5374\u80fd\u5728\u5386\u53f2\u957f\u6cb3\u4e2d\u7559\u4e0b\u5149\u8f89\u3002<\/p>\n<p>\u603b\u7684\u6765\u8bf4\uff0cGensler \u6216\u8bb8\u6709\u9635\u8425\u3001\u79c1\u5fc3\u3001\u5916\u754c\u538b\u529b\u751a\u81f3\u5229\u76ca\uff0c\u4f46\u4f5c\u8005\u66f4\u613f\u610f\u76f8\u4fe1\u4ed6\u662f\u4ee5\u81ea\u5df1\u7684\u65b9\u5f0f\u8ba9\u52a0\u5bc6\u4e16\u754c\u5c3d\u5feb\u878d\u5165\u4e3b\u6d41\u4e16\u754c\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u63d0\u5230\u52a0\u5bc6\u4e16\u754c\u7684\u300c\u516c\u654c\u300d\uff0c\u4e0d\u5c11\u4eba\u7b2c\u4e00\u53cd\u5e94\u4f1a\u60f3\u5230\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\uff08SEC\uff09\uff0c\u6bcf\u4e00\u6b21\u90e8\u5206\u9879\u76ee\u6216\u77e5\u540d\u4eba\u58eb\u88ab SEC  [&hellip;]<\/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-645","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"http:\/\/www.fubairui.net\/index.php?rest_route=\/wp\/v2\/posts\/645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.fubairui.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.fubairui.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.fubairui.net\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.fubairui.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=645"}],"version-history":[{"count":0,"href":"http:\/\/www.fubairui.net\/index.php?rest_route=\/wp\/v2\/posts\/645\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.fubairui.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.fubairui.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=645"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.fubairui.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}