美國監(jiān)管者呼吁填補加密貨幣“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.

美國一位高級監(jiān)管者表示，美國財政部需要加大力度填補加密貨幣行業(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——盡管近幾個月有所下降，但比特幣和其他數(shù)字貨幣的總價值已超過3540億美元——已經吸引了監(jiān)管機構的興趣，它們必須在不扼殺新技術與清除欺詐風險之間取得平衡。

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

美國一位高級監(jiān)管者表示，美國財政部需要加大力度填補加密貨幣行業(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——盡管近幾個月有所下降，但比特幣和其他數(shù)字貨幣的總價值已超過3540億美元——已經吸引了監(jiān)管機構的興趣，它們必須在不扼殺新技術與清除欺詐風險之間取得平衡。

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.

美國財政部長史蒂文•姆努欽(Steven Mnuchin) 1月份表示，金融穩(wěn)定監(jiān)督委員會(Financial Stability Oversight Council)已成立了一個工作組來研究加密貨幣。金融穩(wěn)定監(jiān)督委員會成立于2008年金融危機后，負責識別美國經濟面臨的威脅。

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.

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

“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.”

他對英國《金融時報》表示：“我認為它們真的需要介入，聚集所有監(jiān)管者，征集意見，與利益相關方談話。如果需要立法，就向國會提出來。現(xiàn)在這個領域處于監(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.

貝南是美國商品期貨交易委員會唯一的民主黨委員，他還表態(tài)反對另一位委員布賴恩•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，即設立一個名為“虛擬商品協(xié)會”(Virtual Commodity Association)的加密貨幣自律組織(SRO)，資金由會員費提供。

“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：“最終而言，最獨立于其會員、擁有最多樣性的觀點，以及最強大發(fā)現(xiàn)、揭露和懲罰不當行為能力的一個虛擬商品自律組織，將為這些市場增添最大的誠信。”

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.

自律組織在美國金融市場上運用廣泛，例如美國金融業(yè)監(jiān)管局(Financial Industry Regulatory Authority)和美國全國期貨協(xié)會(National Futures Association)。不過貝南認為，建立一個加密貨幣自律組織不適合這樣一個處于萌芽階段的產業(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：“我們需要想法，但鑒于該行業(yè)處于初始階段，我對自律組織模式有點懷疑……自律組織模式，無論是金融業(yè)監(jiān)管局還是全國期貨協(xié)會，都是在國會授權下誕生的。我不是暗示國會必須盡快采取行動或打算很快采取行動，但我確實認為需要共同行動。”

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”.

 

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

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.

美國財政部長史蒂文•姆努欽(Steven Mnuchin) 1月份表示，金融穩(wěn)定監(jiān)督委員會(Financial Stability Oversight Council)已成立了一個工作組來研究加密貨幣。金融穩(wěn)定監(jiān)督委員會成立于2008年金融危機后，負責識別美國經濟面臨的威脅。

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.

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

“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.”

他對英國《金融時報》表示：“我認為它們真的需要介入，聚集所有監(jiān)管者，征集意見，與利益相關方談話。如果需要立法，就向國會提出來?，F(xiàn)在這個領域處于監(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.

貝南是美國商品期貨交易委員會唯一的民主黨委員，他還表態(tài)反對另一位委員布賴恩•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，即設立一個名為“虛擬商品協(xié)會”(Virtual Commodity Association)的加密貨幣自律組織(SRO)，資金由會員費提供。

“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：“最終而言，最獨立于其會員、擁有最多樣性的觀點，以及最強大發(fā)現(xiàn)、揭露和懲罰不當行為能力的一個虛擬商品自律組織，將為這些市場增添最大的誠信。”

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.

自律組織在美國金融市場上運用廣泛，例如美國金融業(yè)監(jiān)管局(Financial Industry Regulatory Authority)和美國全國期貨協(xié)會(National Futures Association)。不過貝南認為，建立一個加密貨幣自律組織不適合這樣一個處于萌芽階段的產業(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：“我們需要想法，但鑒于該行業(yè)處于初始階段，我對自律組織模式有點懷疑……自律組織模式，無論是金融業(yè)監(jiān)管局還是全國期貨協(xié)會，都是在國會授權下誕生的。我不是暗示國會必須盡快采取行動或打算很快采取行動，但我確實認為需要共同行動。”

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”.

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