美國(guó)監(jiān)管者呼吁填補(bǔ)加密貨幣“監(jiān)管真空”

The US Treasury needs to intensify efforts to fill the “regulatory vacuum” for the cryptocurrency industry, according to a top US regulator.

美國(guó)一位高級(jí)監(jiān)管者表示，美國(guó)財(cái)政部需要加大力度填補(bǔ)加密貨幣行業(yè)的“監(jiān)管真空”。

The explosion in cryptocurrencies — the total value of bitcoin and other digital currencies stands at more than $354bn despite a fall in recent months — has attracted the interest of regulators, who have had to balance the desire not to stymie the new technology while weeding out fraudulent ventures.

加密貨幣的爆炸式增長(zhǎng)——盡管近幾個(gè)月有所下降，但比特幣和其他數(shù)字貨幣的總價(jià)值已超過(guò)3540億美元——已經(jīng)吸引了監(jiān)管機(jī)構(gòu)的興趣，它們必須在不扼殺新技術(shù)與清除欺詐風(fēng)險(xiǎn)之間取得平衡。

The US Treasury needs to intensify efforts to fill the “regulatory vacuum” for the cryptocurrency industry, according to a top US regulator.

美國(guó)一位高級(jí)監(jiān)管者表示，美國(guó)財(cái)政部需要加大力度填補(bǔ)加密貨幣行業(yè)的“監(jiān)管真空”。

The explosion in cryptocurrencies — the total value of bitcoin and other digital currencies stands at more than $354bn despite a fall in recent months — has attracted the interest of regulators, who have had to balance the desire not to stymie the new technology while weeding out fraudulent ventures.

加密貨幣的爆炸式增長(zhǎng)——盡管近幾個(gè)月有所下降，但比特幣和其他數(shù)字貨幣的總價(jià)值已超過(guò)3540億美元——已經(jīng)吸引了監(jiān)管機(jī)構(gòu)的興趣，它們必須在不扼殺新技術(shù)與清除欺詐風(fēng)險(xiǎn)之間取得平衡。

Steven Mnuchin, Treasury secretary, said in January that the Financial Stability Oversight Council, which was set up after the 2008 financial crisis to identify threats to the US economy, had formed a working group to look at cryptocurrencies.

美國(guó)財(cái)政部長(zhǎng)史蒂文•姆努欽(Steven Mnuchin) 1月份表示，金融穩(wěn)定監(jiān)督委員會(huì)(Financial Stability Oversight Council)已成立了一個(gè)工作組來(lái)研究加密貨幣。金融穩(wěn)定監(jiān)督委員會(huì)成立于2008年金融危機(jī)后，負(fù)責(zé)識(shí)別美國(guó)經(jīng)濟(jì)面臨的威脅。

However, Rostin Behnam, a commissioner at the Commodity Futures Trading Commission, said much more needed to be done, emphasising the need to go beyond the currencies themselves and focus on issues related to the underlying “distributed ledgers” and initial coin offerings.

但美國(guó)商品期貨交易委員會(huì)(CFTC)委員羅斯坦•貝南(Rostin Behnam)表示，需要采取多得多的行動(dòng)，他強(qiáng)調(diào)，目光需要超越加密貨幣本身，關(guān)注同根本的“分布式賬本”和首次代幣發(fā)行(ICO)有關(guān)的問(wèn)題。

“I think they really need to step in, gather all the regulators, take in ideas, talk to stakeholders and then if legislation is needed, propose that to Congress,” he told the FT. “There is a regulatory vacuum right now in this space.”

他對(duì)英國(guó)《金融時(shí)報(bào)》表示：“我認(rèn)為它們真的需要介入，聚集所有監(jiān)管者，征集意見(jiàn)，與利益相關(guān)方談話。如果需要立法，就向國(guó)會(huì)提出來(lái)?，F(xiàn)在這個(gè)領(lǐng)域處于監(jiān)管真空。”

Mr Behnam, the sole Democratic commissioner at the CFTC, also spoke against fellow commissioner Brian Quintenz, who this week reiterated his support for “self-regulatory organisations” to oversee the emerging cryptocurrency industry.

貝南是美國(guó)商品期貨交易委員會(huì)唯一的民主黨委員，他還表態(tài)反對(duì)另一位委員布賴恩•昆滕斯(Brian Quintenz)的言論。昆滕斯在本周重申，他支持由“自律組織”來(lái)監(jiān)督新興的加密貨幣行業(yè)。

Mr Quintenz applauded recent proposals from Cameron and Tyler Winklevoss to set up a self-regulatory organisation for cryptocurrencies called the Virtual Commodity Association, funded by membership fees.

昆滕斯贊揚(yáng)了泰勒•文克萊沃斯(Tyler Winklevoss)和卡梅倫•文克萊沃斯(Cameron Winklevoss)兄弟最近提出的建議，即設(shè)立一個(gè)名為“虛擬商品協(xié)會(huì)”(Virtual Commodity Association)的加密貨幣自律組織(SRO)，資金由會(huì)員費(fèi)提供。

“Ultimately, a virtual commodity SRO that has the most independence from its membership, the most diversity of views, and the strongest ability to discover, reveal and punish wrongdoing, will add the most integrity to these markets,” Mr Quintenz said.

昆滕斯說(shuō)：“最終而言，最獨(dú)立于其會(huì)員、擁有最多樣性的觀點(diǎn)，以及最強(qiáng)大發(fā)現(xiàn)、揭露和懲罰不當(dāng)行為能力的一個(gè)虛擬商品自律組織，將為這些市場(chǎng)增添最大的誠(chéng)信。”

SROs are widely used in US financial markets, such as the Financial Industry Regulatory Authority and National Futures Association. However, Mr Behnam argued that setting up an cryptocurrency SRO would be unsuitable for such an embryonic industry.

自律組織在美國(guó)金融市場(chǎng)上運(yùn)用廣泛，例如美國(guó)金融業(yè)監(jiān)管局(Financial Industry Regulatory Authority)和美國(guó)全國(guó)期貨協(xié)會(huì)(National Futures Association)。不過(guò)貝南認(rèn)為，建立一個(gè)加密貨幣自律組織不適合這樣一個(gè)處于萌芽階段的產(chǎn)業(yè)。

“We need ideas, but I am a little sceptical of an SRO model given the nascent stage of the industry . . .  SRO models, whether its Finra or NFA, were born as products of congressional mandates,” Mr Behnam said. “I am not suggesting Congress has to act or is going to act anytime soon, but I do think there needs to be movement together.”

貝南說(shuō)：“我們需要想法，但鑒于該行業(yè)處于初始階段，我對(duì)自律組織模式有點(diǎn)懷疑……自律組織模式，無(wú)論是金融業(yè)監(jiān)管局還是全國(guó)期貨協(xié)會(huì)，都是在國(guó)會(huì)授權(quán)下誕生的。我不是暗示國(guó)會(huì)必須盡快采取行動(dòng)或打算很快采取行動(dòng)，但我確實(shí)認(rèn)為需要共同行動(dòng)。”

Also weighing in on the need for better regulation, Christine Lagarde, the managing director of the International Monetary Fund, argued this week that “we should take a step back and understand the peril that comes along with the promise”.

 

國(guó)際貨幣基金組織(IMF)總裁克里斯蒂娜•拉加德(Christine Lagarde)也認(rèn)為需要加強(qiáng)監(jiān)管，她本周表示“我們應(yīng)該退后一步，了解光明前景承諾所伴隨的危險(xiǎn)”。

Steven Mnuchin, Treasury secretary, said in January that the Financial Stability Oversight Council, which was set up after the 2008 financial crisis to identify threats to the US economy, had formed a working group to look at cryptocurrencies.

美國(guó)財(cái)政部長(zhǎng)史蒂文•姆努欽(Steven Mnuchin) 1月份表示，金融穩(wěn)定監(jiān)督委員會(huì)(Financial Stability Oversight Council)已成立了一個(gè)工作組來(lái)研究加密貨幣。金融穩(wěn)定監(jiān)督委員會(huì)成立于2008年金融危機(jī)后，負(fù)責(zé)識(shí)別美國(guó)經(jīng)濟(jì)面臨的威脅。

However, Rostin Behnam, a commissioner at the Commodity Futures Trading Commission, said much more needed to be done, emphasising the need to go beyond the currencies themselves and focus on issues related to the underlying “distributed ledgers” and initial coin offerings.

但美國(guó)商品期貨交易委員會(huì)(CFTC)委員羅斯坦•貝南(Rostin Behnam)表示，需要采取多得多的行動(dòng)，他強(qiáng)調(diào)，目光需要超越加密貨幣本身，關(guān)注同根本的“分布式賬本”和首次代幣發(fā)行(ICO)有關(guān)的問(wèn)題。

“I think they really need to step in, gather all the regulators, take in ideas, talk to stakeholders and then if legislation is needed, propose that to Congress,” he told the FT. “There is a regulatory vacuum right now in this space.”

他對(duì)英國(guó)《金融時(shí)報(bào)》表示：“我認(rèn)為它們真的需要介入，聚集所有監(jiān)管者，征集意見(jiàn)，與利益相關(guān)方談話。如果需要立法，就向國(guó)會(huì)提出來(lái)。現(xiàn)在這個(gè)領(lǐng)域處于監(jiān)管真空。”

Mr Behnam, the sole Democratic commissioner at the CFTC, also spoke against fellow commissioner Brian Quintenz, who this week reiterated his support for “self-regulatory organisations” to oversee the emerging cryptocurrency industry.

貝南是美國(guó)商品期貨交易委員會(huì)唯一的民主黨委員，他還表態(tài)反對(duì)另一位委員布賴恩•昆滕斯(Brian Quintenz)的言論。昆滕斯在本周重申，他支持由“自律組織”來(lái)監(jiān)督新興的加密貨幣行業(yè)。

Mr Quintenz applauded recent proposals from Cameron and Tyler Winklevoss to set up a self-regulatory organisation for cryptocurrencies called the Virtual Commodity Association, funded by membership fees.

昆滕斯贊揚(yáng)了泰勒•文克萊沃斯(Tyler Winklevoss)和卡梅倫•文克萊沃斯(Cameron Winklevoss)兄弟最近提出的建議，即設(shè)立一個(gè)名為“虛擬商品協(xié)會(huì)”(Virtual Commodity Association)的加密貨幣自律組織(SRO)，資金由會(huì)員費(fèi)提供。

“Ultimately, a virtual commodity SRO that has the most independence from its membership, the most diversity of views, and the strongest ability to discover, reveal and punish wrongdoing, will add the most integrity to these markets,” Mr Quintenz said.

昆滕斯說(shuō)：“最終而言，最獨(dú)立于其會(huì)員、擁有最多樣性的觀點(diǎn)，以及最強(qiáng)大發(fā)現(xiàn)、揭露和懲罰不當(dāng)行為能力的一個(gè)虛擬商品自律組織，將為這些市場(chǎng)增添最大的誠(chéng)信。”

SROs are widely used in US financial markets, such as the Financial Industry Regulatory Authority and National Futures Association. However, Mr Behnam argued that setting up an cryptocurrency SRO would be unsuitable for such an embryonic industry.

自律組織在美國(guó)金融市場(chǎng)上運(yùn)用廣泛，例如美國(guó)金融業(yè)監(jiān)管局(Financial Industry Regulatory Authority)和美國(guó)全國(guó)期貨協(xié)會(huì)(National Futures Association)。不過(guò)貝南認(rèn)為，建立一個(gè)加密貨幣自律組織不適合這樣一個(gè)處于萌芽階段的產(chǎn)業(yè)。

“We need ideas, but I am a little sceptical of an SRO model given the nascent stage of the industry . . .  SRO models, whether its Finra or NFA, were born as products of congressional mandates,” Mr Behnam said. “I am not suggesting Congress has to act or is going to act anytime soon, but I do think there needs to be movement together.”

貝南說(shuō)：“我們需要想法，但鑒于該行業(yè)處于初始階段，我對(duì)自律組織模式有點(diǎn)懷疑……自律組織模式，無(wú)論是金融業(yè)監(jiān)管局還是全國(guó)期貨協(xié)會(huì)，都是在國(guó)會(huì)授權(quán)下誕生的。我不是暗示國(guó)會(huì)必須盡快采取行動(dòng)或打算很快采取行動(dòng)，但我確實(shí)認(rèn)為需要共同行動(dòng)。”

Also weighing in on the need for better regulation, Christine Lagarde, the managing director of the International Monetary Fund, argued this week that “we should take a step back and understand the peril that comes along with the promise”.

國(guó)際貨幣基金組織(IMF)總裁克里斯蒂娜•拉加德(Christine Lagarde)也認(rèn)為需要加強(qiáng)監(jiān)管，她本周表示“我們應(yīng)該退后一步，了解光明前景承諾所伴隨的危險(xiǎn)”。