去年夏天,美國證券交易委員會(SEC)起訴加密貨幣交易所 Coinbase 和 Binance,指控它們以各種加密貨幣的形式上市和交易未註冊的證券。 本週,監管機構的法律團隊在法庭上面對交易所,因為這些公司辯稱 SEC 沒有證明這些加密貨幣是證券。
玫瑰還有別的名字嗎?
敘事
疲憊不堪的人沒有休息:雖然上週的報道是關於 SEC 是否會批准現貨比特幣交易所交易基金 (ETF) 以及最終批准之前發生的大致事件順序,但本週我們又回到了監管機構執法部門辯稱,它有理由將加密貨幣視為證券,因此向法院提起訴訟。
為什麼這很重要
美國加密貨幣產業的很大一部分很可能取決於 SEC 針對 Coinbase、Binance/Binance.US 和 Kraken 的案件的結果。 如果聯邦法官同意各種數位資產都是證券,而美國證券交易委員會有權決定哪些數位資產是證券,那麼這將對發行人和交易平台提出新的註冊和報告要求。 相反,如果法官一致認為美國證券交易委員會的行為過度,或者國會應該制定一些量身定制的法律,那麼這將為該行業的很大一部分開綠燈。
分解它
2023 年 6 月,SEC 起訴 Coinbase 和 Binance,指控這兩家公司列出了 solana (SOL)、filecoin (FIL) 和 axie infinity (AXS) 等數位資產,但這些資產實際上是未註冊的證券。
當然,業界對這些訴訟感到非常不安,儘管 SEC 主席加里·詹斯勒 (Gary Gensler) 在很長一段時間裡一直在電報稱這些訴訟將會發生。 在過去的幾個月裡,我們看到立法者、行業遊說者和其他人提交了法庭之友陳述,敦促法院同意被告完全駁回案件的動議。
傑西漢密爾頓 (Jesse Hamilton) 在這裡預覽了周三的 Coinbase 聽證會,許多核心想法在功能上與幣安案相同。 當然,整篇文章值得您關注,但他最重要的觀點之一可能是現階段不太可能被解僱。
法官凱瑟琳·波爾克·法伊拉(Katherine Polk Failla) 在聽證會上提出了一些棘手的問題,但尚未做出裁決。
SEC 律師表示, 代幣本身不是證券,而是聽證會期間涉及的實際交易。
由於華盛頓特區下雪,週五美國證券交易委員會針對幣安案件的聽證會被推遲到週一。
A separate hearing of interest occurred before the U.S. Supreme Court, where two parties are challenging a longstanding Supreme Court precedent known as the Chevron doctrine, which gives federal regulatory agencies latitude to interpret federal laws for rulemaking purposes.
This precedent may be overturned, SCOTUSblog reported after the hearing.
Michael Passalacqua, an associate with Willkie Farr & Gallagher LLP, said the case is worth watching, as regulatory agencies "would be less inclined to discover new meanings within ambiguous (and often dated) statutes."
"We may even see crypto legislation gain momentum again in Congress as Congress may be incentivized to pass new laws to regulate the industry (as opposed to deferring to agency interpretations)," he said.
Stories you may have missed
Bitcoin ETFs Stir Optimism, Ambivalence and Dread Among Crypto's Staunchest Supporters: Sandali Handagama spoke to a number of bitcoin and crypto advocates about last week's ETF approvals.
Do Kwon Appeals New Montenegro High Court Decision Upholding Extradition Requests, Lawyer Says: Terraform Labs' Do Kwon has appealed the Montenegro High Court's ruling that he should be extradited. Elsewhere, Terraform Labs' attorneys successfully lobbied for the SEC's case against itto be postponed to March 25 in the hopes that he'll be extradited to the U.S., rather than South Korea.
This week
Wednesday
09:00 UTC (10:00 a.m. CET) The European Banking Authority (EBA) heldthe first of two hearings on the Markets in Crypto Assets Regulation (MiCA), looking at regulatory technical standards (RTS) and implementing technical standards (ITS).
13:00 UTC (2:00 p.m. CET) The EBA heldits second MiCA hearing, which focused on guidelines for preventing illicit crypto activities.
15:00 UTC (10:00 a.m. EST) There was a hearing in SEC v. Coinbase.
Friday
15:00 UTC (10:00 a.m. EST) There was going to be a hearing in SEC v. Binance, but it was delayed to Monday due to snow in Washington, D.C.
Elsewhere:
(Axios) Brady Dale and Crystal Kim, alongside several of their colleagues at Axios, created this delightful timeline chronicling the bitcoin ETF saga.
(The Air Current) TAC created a reading list of stories that perhaps provide an explanation for how Boeing began this year by watching a deactivated emergency exit door blow off an aircraft during flight (Disclosure: I'm invested in Boeing shares).
(IRS) The Internal Revenue Service has said that a controversial component of the 2021 bipartisan Infrastructure Investment and Jobs Act that modified Section 6050I of the U.S. code to require business to report related crypto transactions in excess of $10,000 will not take effect until the Treasury Department publishes some regulations around that. The reporting requirement is in effect for cash transactions exceeding that amount.
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