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4\u00a0\u5f20\u5929\u4ef7\u7f5a\u5355<\/p>\n

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UST&LUNA \u7684\u59cb\u4f5c\u4fd1\u8005\uff1aTerraform Labs \u53ca\u521b\u59cb\u4eba Do Kwon<\/strong><\/p>\n

\u7f8e\u00a0SEC\u00a0\u5bf9 Terraform Labs \u53ca\u5176\u521b\u59cb\u4eba Do Kwon\u00a0\u5904\u4ee5\u9ad8\u8fbe 46.8 \u4ebf\u7f8e\u5143\u7684\u7f5a\u6b3e \uff0c\u7f6a\u540d\u662f\u8bef\u5bfc\u6295\u8d44\u8005\u548c\u63d0\u4f9b\u672a\u6ce8\u518c\u8bc1\u5238\u3002\u5176\u4e2d\u7f5a\u6b3e\u7ec6\u8282\u4e3a\uff1a\u300c\u4f5c\u4e3a\u548c\u89e3\u7684\u4e00\u90e8\u5206\uff0cTerraform \u540c\u610f\u652f\u4ed8 35 \u4ebf 8687 \u4e07 5883 \u7f8e\u5143\u7684\u975e\u6cd5\u6240\u5f97\uff0c4 \u4ebf 6695 \u4e07 2423 \u7f8e\u5143\u7684\u5224\u51b3\u524d\u5229\u606f\uff0c\u4ee5\u53ca 4 \u4ebf 2000\u00a0\u4e07\u7f8e\u5143\u7684\u6c11\u4e8b\u7f5a\u6b3e\u3002Terraform \u8fd8\u540c\u610f\u505c\u6b62\u9500\u552e\u5176\u52a0\u5bc6\u8d44\u4ea7\u8bc1\u5238\uff0c\u7ed3\u675f\u8fd0\u8425\uff0c\u66ff\u6362\u4e24\u540d\u8463\u4e8b\uff0c\u5e76\u901a\u8fc7\u6e05\u7b97\u8ba1\u5212\u5c06\u5269\u4f59\u8d44\u4ea7\u5206\u914d\u7ed9\u6295\u8d44\u8005\u53d7\u5bb3\u8005\u548c\u503a\u6743\u4eba\uff0c\u8be5\u8ba1\u5212\u9700\u8981\u5f97\u5230 Terraform \u6b63\u5728\u8fdb\u884c\u7684\u7834\u4ea7\u6848\u4ef6\u6cd5\u9662\u7684\u6279\u51c6\u3002Do Kwon \u540c\u610f\u4e0e Terraform \u5171\u540c\u627f\u62c5 1 \u4ebf 1000\u00a0\u4e07\u7f8e\u5143\u7684\u975e\u6cd5\u6240\u5f97\u548c 1432 \u4e07 196 \u7f8e\u5143\u7684\u5224\u51b3\u524d\u5229\u606f\uff0c\u4ee5\u53ca 8000\u00a0\u4e07\u7f8e\u5143\u7684\u6c11\u4e8b\u7f5a\u6b3e\u3002\u300d<\/p>\n

\u5c3d\u7ba1\u6d88\u606f\u4f20\u51fa\u540e\uff0c\u300a\u8d22\u5bcc\u300b\u6742\u5fd7\u58f0\u79f0 Terraform Labs \u5df2\u7834\u4ea7\uff0c\u65e0\u6cd5\u5411\u7f8e SEC \u652f\u4ed8 44.7 \u4ebf\u7f8e\u5143\u5de8\u989d\u7f5a\u91d1\u201d\u3002\u800c 7 \u6708\u5e95\uff0cSEC \u4e5f\u53d1\u6587\u8868\u793a\uff0c\u300c\u5728\u6295\u8d44\u8005\u548c\u503a\u6743\u4eba\u6536\u5230\u76f8\u5e94\u7834\u4ea7\u6848\u7684\u5168\u90e8\u8d54\u507f\u4e4b\u524d\uff0cSEC \u4e0d\u4f1a\u6536\u5230\u4efb\u4f55\u8d54\u507f\u3002\u300d<\/p>\n

\u76ee\u524d\uff0c\u8be5\u7f5a\u5355\u7684\u6700\u65b0\u8fdb\u5ea6\u4e3a Terra \u9879\u76ee\u65b9\u4e8e 8 \u6708\u53d1\u5e03\u516c\u544a\u8868\u793a \uff0cTerraform Labs Pte Ltd \uff08TFL\uff09\u548c Terraform Labs Limited \uff08TLL\uff09\u7684\u7b2c 11 \u7ae0\u7834\u4ea7\u6848\u4ef6\u542c\u8bc1\u4f1a\u5c06\u4e8e 2024 \u5e74 9 \u6708 19 \u65e5\u5317\u4eac\u65f6\u95f4\u665a\u4e0a 10 \u70b9\uff08\u7f8e\u56fd\u4e1c\u90e8\u65f6\u95f4\u4e0a\u5348 10 \u70b9\uff09\u4e3e\u884c\u3002<\/p>\n

\u7275\u626f\u8fd1 10 \u4ebf\u7528\u6237\u7684\u793e\u4ea4\u5de8\u5934\uff1aTelegram Group Inc. \u548c TON Issuer Inc.<\/strong><\/p>\n

Telegram \u88ab\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\u7f5a\u6b3e 12.4 \u4ebf\u7f8e\u5143\uff0c\u539f\u56e0\u662f\u5176\u88ab\u53d1\u73b0\u5728 TON\uff08Telegram \u5f00\u653e\u7f51\u7edc\uff09\u9996\u6b21\u4ee3\u5e01\u53d1\u884c (ICO) \u4e2d\u975e\u6cd5\u51fa\u552e\u672a\u6ce8\u518c\u7684\u6570\u5b57\u4ee3\u5e01\u3002\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\u8fdb\u884c\u4e86\u5e72\u9884\uff0c\u53eb\u505c\u4e86\u8be5\u9879\u76ee\uff0c\u5e76\u5f3a\u8c03\u4e86\u901a\u8fc7\u4ee3\u5e01\u9500\u552e\u7b79\u96c6\u8d44\u91d1\u65f6\u6ce8\u518c\u548c\u5408\u89c4\u7684\u91cd\u8981\u6027\u3002<\/p>\n

\u636e\u7f8e SEC \u76f8\u5173\u4fe1\u606f\uff1a\u300c\u88ab\u544a\uff08\u6307 Telegram \u53ca\u66fe\u7ecf\u7684 TON\uff09\u4ee5\u6298\u6263\u4ef7\u5411\u5168\u7403 171 \u540d\u521d\u59cb\u8d2d\u4e70\u8005\u51fa\u552e\u4e86\u7ea6 29 \u4ebf\u4e2a\u79f0\u4e3a\u2018Grams\u2019\u7684\u6570\u5b57\u4ee3\u5e01\uff0c\u5176\u4e2d\u5305\u62ec\u5411 39 \u540d\u7f8e\u56fd\u8d2d\u4e70\u8005\u51fa\u552e\u4e86\u8d85\u8fc7 10 \u4ebf\u4e2a Grams\u3002Telegram \u627f\u8bfa\u5728\u5176\u533a\u5757\u94fe\u63a8\u51fa\u540e\u4e0d\u8fdf\u4e8e 2019 \u5e74 10 \u6708 31 \u65e5\u5c06 Grams \u4ea4\u4ed8\u7ed9\u521d\u59cb\u8d2d\u4e70\u8005\uff0c\u5c4a\u65f6\u8d2d\u4e70\u8005\u548c Telegram \u5c06\u80fd\u591f\u5411\u7f8e\u56fd\u5e02\u573a\u51fa\u552e\u6570\u5341\u4ebf\u4e2a Grams\u3002\u6295\u8bc9\u79f0\uff0c\u88ab\u544a\u672a\u80fd\u6ce8\u518c\u5176\u5bf9 Grams\uff08\u8bc1\u5238\uff09\u7684\u8981\u7ea6\u548c\u9500\u552e\uff0c\u8fdd\u53cd\u4e86\u300a1933 \u5e74\u8bc1\u5238\u6cd5\u300b\u7684\u6ce8\u518c\u89c4\u5b9a\u3002\u300d<\/p>\n

\u968f\u540e\u7684\u4e8b\u60c5\uff0c\u5927\u5bb6\u90fd\u77e5\u9053\u4e86\uff0cTelegram \u5c06 TON \u4ea4\u7ed9\u4e86\u300c\u793e\u533a\u300d\uff0c\u5c06 IC0 \u7684\u90e8\u5206\u8d44\u91d1\uff0812 \u4ebf\u7f8e\u5143\uff09\u4e88\u4ee5\u9000\u8fd8\uff0c\u5e76\u63a5\u53d7\u5bf9\u5e94\u7684\u5904\u7f5a\uff081850 \u4e07\u7f8e\u5143\uff09\u3002<\/p>\n

\u6700\u5177\u300c\u4f20\u7edf\u91d1\u878d\u5c5e\u6027\u300d\u7684\u4e00\u96c6\uff1aGTV Media Group Inc.\u3001Saraca Media Group Inc. \u548c Voice of Guo Media Inc.<\/strong><\/p>\n

\u8fd9\u4e9b\u5b9e\u4f53\u56e0\u975e\u6cd5\u672a\u7ecf\u6ce8\u518c\u53d1\u884c GTV \u666e\u901a\u80a1\u548c\u6570\u5b57\u8d44\u4ea7\u8bc1\u5238\u800c\u88ab\u7f5a\u6b3e 5.3943 \u4ebf\u7f8e\u5143\u3002SEC \u7684\u884c\u52a8\u65e8\u5728\u89e3\u51b3\u5176\u53d1\u884c\u7f3a\u4e4f\u900f\u660e\u5ea6\u548c\u76d1\u7ba1\u5408\u89c4\u6027\u7684\u95ee\u9898\uff0c\u4fdd\u62a4\u6295\u8d44\u8005\u514d\u53d7\u6b3a\u8bc8\u548c\u9519\u8bef\u4fe1\u606f\u7684\u4fb5\u5bb3\u3002<\/p>\n

\u770b\u5f97\u51fa\u6765\uff0c\u4f20\u5a92\u96c6\u56e2\u76f8\u5173\u7684\u6570\u5b57\u8d44\u4ea7\u8bc1\u5238\u4e5f\u5728\u7f8e SEC \u7684\u300c\u5c04\u7a0b\u8303\u56f4\u300d\u4e4b\u5185\u3002<\/strong><\/p>\n

\u60ac\u800c\u672a\u51b3\u7684\u300c\u8bc1\u5238\u300d\u7591\u6848\uff1aRipple Labs Inc.<\/strong><\/p>\n

Ripple Labs \u56e0\u5c06 XRP \u4f5c\u4e3a\u672a\u6ce8\u518c\u8bc1\u5238\u51fa\u552e\u800c\u9762\u4e34 1.25 \u4ebf\u7f8e\u5143\u7684\u7f5a\u6b3e\u3002\u8be5\u6848\u662f\u52a0\u5bc6\u8d27\u5e01\u9886\u57df\u6700\u53d7\u5173\u6ce8\u7684\u6848\u4ef6\u4e4b\u4e00\uff0c\u6d89\u53ca XRP \u662f\u5426\u5e94\u6839\u636e\u7f8e\u56fd\u6cd5\u5f8b\u5f52\u7c7b\u4e3a\u8bc1\u5238\u7684\u4e89\u8bba\u3002SEC \u63d0\u8d77\u6b64\u6848\u662f\u4e3a\u4e86\u4fdd\u62a4\u6295\u8d44\u8005\u514d\u53d7\u6b3a\u8bc8\u884c\u4e3a\u7684\u4fb5\u5bb3\uff0c\u5e76\u5f3a\u8c03\u5bf9 IC0 \u548c\u4ee3\u5e01\u9500\u552e\u8fdb\u884c\u66f4\u4e25\u683c\u76d1\u7ba1\u7684\u5fc5\u8981\u6027\u3002<\/p>\n

\u6b64\u6b21\u4e8b\u4ef6\u7684\u9636\u6bb5\u6027\u843d\u5e55\u53d1\u751f\u4e8e\u4eca\u5e74 8 \u6708\u521d\uff0c\u300c\u7f8e\u6cd5\u5b98\u88c1\u5b9a Ripple \u5411\u6563\u6237\u9500\u552e XRP \u672a\u8fdd\u53cd\u8054\u90a6\u8bc1\u5238\u6cd5\u300d\uff0c\u4f46 Ripple \u4ecd\u9700\u8981\u7f34\u7eb3 1.25 \u4ebf\u7f8e\u5143\u7684\u7f5a\u6b3e\u3002\u800c\u5c31\u5728\u51e0\u5929\u524d\uff0cRipple \u8fd8\u5411\u6cd5\u5b98\u8bf7\u6c42\u6682\u505c\u6267\u884c SEC 1.25 \u4ebf\u7f8e\u5143\u7f5a\u6b3e\u88c1\u51b3\u3002<\/p>\n

\u7efc\u4e0a\u6765\u770b\uff0c\u5de8\u989d\u7f5a\u5355\u7684\u4e3b\u8981\u539f\u56e0\u5728\u4e8e IC0 \u4ee3\u5e01\u9500\u552e\u3001\u672a\u6ce8\u518c\u8bc1\u5238\u8ba4\u5b9a\u7b49\u73af\u8282\uff0c\u800c\u4e14\u76f8\u5173\u9879\u76ee\u90fd\u662f\u52a0\u5bc6\u884c\u4e1a\u7684\u300c\u95e8\u9762\u62c5\u5f53\u300d\uff0c\u7b26\u5408\u7f8e\u56fd SEC\u300c\u6572\u5c71\u9707\u864e\u300d\u7684\u76ee\u7684\u3002<\/strong><\/p>\n

\u7f5a\u6b3e\u8d8b\u52bf\uff1a\u4e8b\u4ef6\u8d8a\u6765\u8d8a\u5c11\uff0c\u91d1\u989d\u8d8a\u6765\u8d8a\u5927<\/strong><\/p>\n

\u5386\u6570 2014 \u5e74\u5230 2024 \u5e74\u7684\u7f5a\u6b3e\u52a8\u5411\uff0c 2018 \u5e74\u4e4b\u524d\uff0c\u6267\u6cd5\u884c\u52a8\u6b21\u6570\u4ec5\u5728\u4e2a\u4f4d\u6570\uff0c\u8bf4\u660e\u5f7c\u65f6\u7f8e SEC \u5bf9\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u5173\u6ce8\u6709\u9650\uff0c\u4fa7\u9762\u4e5f\u8bf4\u660e\u4e86\u52a0\u5bc6\u884c\u4e1a\u5904\u4e8e\u86ee\u8352\u671f\uff0c\u89c4\u6a21\u6709\u9650\u3002<\/p>\n

\u800c\u81ea 2018 \u5e74\u5230 2023 \u5e74\uff0c\u968f\u7740\u5e02\u573a\u5468\u671f\u7684\u725b\u718a\u8f6c\u6362\uff0c\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u4e5f\u65e5\u6e10\u6210\u719f\uff0c\u7f8e SEC \u6267\u6cd5\u884c\u52a8\u4ece 14 \u4ef6\u9010\u6e10\u589e\u957f\u5230 30 \u4ef6\uff1b\u76f4\u5230 2024 \u5e74\uff0c\u6bd4\u7279\u5e01\u8bde\u751f 15 \u5468\u5e74\u3001\u4ee5\u592a\u574a\u8bde\u751f 10 \u5468\u5e74\u4e4b\u9645\uff0c\u7ed3\u5408\u6bd4\u7279\u5e01\u73b0\u8d27 ETF\u3001\u4ee5\u592a\u574a\u73b0\u8d27 ETF \u76f8\u7ee7\u901a\u8fc7\uff0c\u7f8e\u56fd\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u53c2\u4e0e\u4eba\u6570\u7a81\u7834 5000 \u4e07\uff0c\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u7684\u89c4\u6a21\u4f53\u91cf\u4ee5\u53ca\u7531\u6b64\u5377\u52a8\u7684\u58f0\u52bf\u8303\u56f4\u5df2\u7136\u4e0d\u53ef\u5c0f\u89d1\uff0c\u6240\u4ee5 SEC \u7684\u6267\u6cd5\u884c\u52a8\u4e8b\u4ef6\u9661\u964d\u81f3 11 \u4ef6\uff0c\u4f46\u7f5a\u6b3e\u91d1\u989d\u5374\u5df2\u7a81\u7834\u65b0\u9ad8\u3002<\/p>\n

\u636e\u7edf\u8ba1\uff0c2018 \u5e74\uff0c\u5e73\u5747\u7f5a\u6b3e\u91d1\u989d\u4ec5\u4e3a 339 \u4e07\u7f8e\u5143\uff0c\u5230 2024 \u5e74\u8fd9\u4e00\u6570\u5b57\u5219\u5df2\u4e0a\u5347\u81f3\u5e73\u5747 4.26 \u4ebf\u7f8e\u5143\uff0c\u589e\u957f\u4e86 12466.37% \u3002<\/strong><\/p>\n

\n
\"2024\u5e74\u7f8eSEC\u300c\u521b\u6536\u300d47\u4ebf\u7f8e\u5143\uff0c\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u6210\u300c\u63d0\u6b3e\u673a\u300d\uff1f\"\"2024\u5e74\u7f8eSEC\u300c\u521b\u6536\u300d47\u4ebf\u7f8e\u5143\uff0c\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u6210\u300c\u63d0\u6b3e\u673a\u300d\uff1f\"<\/figure>\n<\/div>\n

\u7f8e\u00a0SEC\u00a0\u7f5a\u6b3e\u9010\u5e74\u660e\u7ec6<\/p>\n

\u6807\u5fd7\u6027\u5e74\u4efd\uff1a2019 \u5e74\u30012021 \u5e74\u30012024 \u5e74<\/strong><\/p>\n

2019 \u5e74\uff0c\u7f8e SEC \u5e73\u5747\u7f5a\u6b3e\u91d1\u989d\u4ece 339 \u4e07\u7f8e\u5143\u5927\u5e45\u8dc3\u5347\u81f3 7068 \u4e07\u7f8e\u5143\uff0c Telegram Group Inc. \u53ca TON \u533a\u5757\u94fe\u9879\u76ee\u9500\u552e\u672a\u7ecf\u6ce8\u518c\u7684\u6570\u5b57\u4ee3\u5e01\u800c\u88ab\u5904\u4ee5 12.4 \u4ebf\u7f8e\u5143\u7f5a\u6b3e\u4e00\u4e8b\u6210\u4e3a\u300c\u76d1\u7ba1\u8f6c\u6298\u70b9\u300d\u3002\u4e0e 2018 \u5e74\u76f8\u6bd4\uff0c\u8fd9\u4e00\u6570\u5b57\u589e\u957f\u4e86 1979.05% \uff0c\u8868\u660e SEC \u5728\u5904\u7406\u52a0\u5bc6\u8d27\u5e01\u9886\u57df\u76d1\u7ba1\u8fdd\u89c4\u884c\u4e3a\u7684\u65b9\u6cd5\u4e0a\u53d1\u751f\u4e86\u91cd\u5927\u8f6c\u53d8\u3002<\/p>\n

\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u5f53\u65f6\u7684 SEC \u4e3b\u5e2d\u662f\u7531\u7279\u6717\u666e\u5728\u804c\u671f\u95f4\u4efb\u547d\u7684\u3001\u6709\u7740\u300c\u534e\u5c14\u8857\u761f\u795e\u300d\u4e4b\u79f0\u7684 Jay Clayton\u2014\u2014\u5728\u5176\u4efb\u671f\u5185\uff0cSEC \u66fe\u4e8e 2018 \u5e74\u6307\u63a7\u7279\u65af\u62c9\u521b\u59cb\u4eba\u9a6c\u65af\u514b\u5728\u793e\u4ea4\u5a92\u4f53\u4e0a\u53d1\u5e03\u7684\u79c1\u6709\u5316\u6d88\u606f\u5177\u6709\u300c\u865a\u5047\u548c\u8bef\u5bfc\u6027\u300d\uff0c\u6700\u7ec8\u9a6c\u65af\u514b\u4e0e SEC \u548c\u89e3\uff0c\u8f9e\u53bb\u7279\u65af\u62c9\u4e3b\u5e2d\u804c\u52a1\u5e76\u652f\u4ed8\u4e86 2000 \u4e07\u7f8e\u5143\u7f5a\u6b3e\u3002\u6b64\u5916\uff0c\u7f8e SEC \u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u7684\u5f3a\u786c\u6001\u5ea6\u4e5f\u81ea\u5176\u5f00\u59cb\uff0cJay Clayton \u4e0d\u4f46\u5c06\u6709\u5173\u4ea4\u6613\u7eb3\u5165\u8bc1\u5238\u6cd5\u4f8b\u76d1\u7ba1\uff0c\u66f4\u9650\u5236\u52a0\u5bc6\u8d27\u5e01\u96c6\u8d44\u6d3b\u52a8\u53ca\u6bd4\u7279\u5e01\u4ea4\u6613\u4e70\u5356\u57fa\u91d1\uff1a<\/strong>2018 \u5e74\uff0cSEC \u6566\u4fc3\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u5e73\u53f0\u8fdb\u884c\u6ce8\u518c\u5e76\u63a5\u53d7\u8fdb\u4e00\u6b65\u76d1\u7ba1\uff0c\u5e76\u8ba4\u4e3a\u9664\u4e86\u6bd4\u7279\u5e01\u548c\u4ee5\u592a\u574a\u4e4b\u5916\uff0c\u5176\u4ed6\u6570\u5b57\u52a0\u5bc6\u8d27\u5e01\u5747\u4e3a\u8bc1\u5238\uff0c\u5e94\u53d7\u7f8e\u56fd\u8bc1\u5238\u6cd5\u7684\u76d1\u7ba1\uff0c\u521d\u59cb\u4ee3\u5e01\u53d1\u884c IC0 \u300c\u57fa\u672c\u4e0a\u4e5f\u662f\u4e00\u79cd\u9700\u8981\u9075\u5b88\u7279\u5b9a\u76d1\u7ba1\u8981\u6c42\u7684\u8bc1\u5238\u53d1\u884c\u300d\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u81ea 2018 \u5e74\u8d77\uff0cSEC \u56e0\u514d\u53d7\u5e02\u573a\u64cd\u63a7\u3001\u76d1\u7ba1\u89c4\u5219\u4e0d\u660e\u786e\u7b49\u539f\u56e0\u63a8\u8fdf\u5e76\u62d2\u7edd\u4e86\u591a\u5bb6\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\u7684\u6bd4\u7279\u5e01 ETF \u7533\u8bf7\uff0c\u4e00\u5ea6\u5f15\u53d1\u5e02\u573a\u4e0d\u6ee1\u3002<\/p>\n

2020 \u5e74\u5e95\uff0c\u5728\u5176\u8f9e\u4efb\u65f6\uff0c\u636e\u7edf\u8ba1\uff0cSEC \u5b8c\u6210\u4e86 65 \u9879\u6700\u7ec8\u89c4\u5219\u7684\u5236\u5b9a\u5de5\u4f5c\uff0c\u5f81\u6536\u4e86 140 \u4ebf\u7f8e\u5143\u7684\u7f5a\u6b3e\uff0c\u5e76\u5411\u4e3e\u62a5\u4eba\u652f\u4ed8\u4e86\u7ea6 5.65 \u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d\u5305\u62ec\u521b\u7eaa\u5f55\u7684 1.14 \u4ebf\u7f8e\u5143\u5956\u91d1\uff0c\u662f\u8be5\u9879\u76ee\u5386\u53f2\u4e0a\u89c4\u6a21\u6700\u5927\u7684\u4e00\u9879\u5956\u52b1\u3002\u636e Politico \u62a5\u9053\uff0c\u514b\u83b1\u987f\u4efb\u5185 3152 \u4ef6\u7684\u603b\u6267\u6cd5\u6848\u4ef6\u6570\u8fdc\u9ad8\u4e8e\u4e0a\u4e00\u4efb SEC \u4e3b\u5e2d\u3002\u968f\u540e\uff0c\u7f8e SEC \u4e3b\u5e2d\u7531 Allison Herren Lee \u6682\u65f6\u4ee3\u7406\u3002<\/p>\n

2021 \u5e74 4 \u6708\uff0c\u73b0\u4efb\u7f8e SEC \u4e3b\u5e2d Gary Gensler \u4e0a\u53f0\uff0c\u4f5c\u4e3a\u5965\u5df4\u9a6c\u6267\u653f\u671f\u95f4\u7684\u7f8e\u56fd\u5546\u54c1\u671f\u8d27\u4ea4\u6613\u59d4\u5458\u4f1a\uff08CFTC\uff09\u4e3b\u5e2d\u3001\u524d\u9ad8\u76db\u6295\u8d44\u94f6\u884c\u5bb6\u3001\u9ebb\u7701\u7406\u5de5\u6559\u6388\uff0cGary Gensler \u5728\u7ee7\u627f Jay Clayton \u5bf9\u52a0\u5bc6\u884c\u4e1a\u7684\u5f3a\u786c\u6001\u5ea6\u7684\u540c\u65f6\uff0c\u4e5f\u56e0\u81ea\u5df1\u5bf9\u52a0\u5bc6\u8d27\u5e01\u7684\u719f\u6089\u5f00\u59cb\u4e86\u81ea\u5df1\u7684\u300c\u52a0\u5bc6\u4e0d\u53cb\u597d\u76d1\u7ba1\u4e4b\u65c5\u300d\u2014\u2014 2021 \u5e74\uff0c\u7f8e SEC \u5e73\u5747\u7f5a\u6b3e\u91d1\u989d\u8fc5\u901f\u53cd\u5f39\u81f3 3520 \u4e07\u7f8e\u5143\uff0c \u8f83 2020 \u5e74\u589e\u957f 579.35% \uff0c\u6b63\u662f\u8fd9\u4e00\u5e74\uff0c\u7f8e SEC \u53d1\u8d77\u5bf9 Ripple \u8c03\u67e5\u4e0e\u7f5a\u6b3e\uff0cGary Gensler \u4ee5\u5176\u5bf9\u52a0\u5bc6\u884c\u4e1a\u7684\u300c\u719f\u6089\u300d\uff0c\u5f00\u59cb\u5c06\u7f8e SEC \u7684\u7126\u70b9\u91cd\u65b0\u653e\u5230\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u7684\u4e3b\u8981\u53c2\u4e0e\u8005\u8eab\u4e0a\u3002<\/p>\n

2024 \u5e74\u7684\u300c\u5de8\u989d\u7f5a\u5355\u300d\u5219\u66f4\u50cf\u662f\u7ed9 2022 \u5e74\u7684\u300cUST\u3001LUNA \u66b4\u96f7\u4e8b\u4ef6\u300d\u5212\u4e0a\u4e00\u4e2a\u53e5\u53f7\uff0c\u6b63\u5982\u6211\u4eec\u524d\u6587\u63d0\u5230\u7684\u90a3\u6837\uff0c\u5177\u4f53\u6267\u884c\u4ecd\u6709\u5f85\u65f6\u95f4\u7684\u68c0\u9a8c\u3002<\/p>\n

\u7f5a\u6b3e\u91d1\u989d\uff1a\u9ad8\u989d\u7f5a\u6b3e\u8f83\u5c11\uff0c1000 \u4e07\u7f8e\u5143\u4ee5\u4e0b\u7f5a\u6b3e\u8fbe 76 \u8d77<\/strong><\/p>\n

\u56de\u987e\u8fc7\u5f80\u7f5a\u6b3e\u4e8b\u4ef6\uff0c\u81ea 2020 \u5e74\u5230 2024 \u5e74\uff0c10 \u4ebf\u7f8e\u5143\u7ea7\u522b\u7684\u9ad8\u989d\u7f5a\u6b3e\u4ec5\u6709 2 \u8d77\uff0c\u800c 1000 \u4e07\u7f8e\u5143\u4ee5\u4e0b\u7684\u7f5a\u6b3e\u591a\u8fbe 76 \u8d77\uff0c\u8fd9\u8868\u660e\uff0c\u4e00\u65b9\u9762\uff0c\u9762\u4e34\u5408\u89c4\u95ee\u9898\u7684\u4e2d\u5c0f\u578b\u4f01\u4e1a\u7ecf\u5e38\u53d7\u5230\u5904\u7f5a\uff1b\u53e6\u5916\u4e00\u65b9\u9762\uff0c\u4e5f\u8bf4\u660e\u7f8e SEC \u5bf9\u5c0f\u578b\u9879\u76ee\u4e5f\u6beb\u4e0d\u624b\u8f6f\uff0c\u5176\u76d1\u7ba1\u76d1\u7763\u8303\u56f4\u76f8\u5f53\u5e7f\u6cdb\u3002<\/p>\n

\u5f53\u7136\uff0c\u4ece\u8d8b\u52bf\u5c42\u9762\u6765\u770b\uff0c\u7f8e SEC \u76ee\u524d\u7684\u6001\u5ea6\u662f\u2014\u2014\u9488\u5bf9\u5177\u6709\u4ee3\u8868\u6027\u7684\u6848\u4f8b\uff0c\u91c7\u53d6\u5177\u6709\u66f4\u5927\u5f71\u54cd\u529b\u7684\u6267\u6cd5\u884c\u52a8\uff08\u5982\u66f4\u9ad8\u989d\u7684\u7f5a\u5355\u3001\u66f4\u5356\u529b\u7684\u5ba3\u4f20\u7b49\u7b49\uff09\uff0c\u6811\u7acb\u884c\u4e1a\u6848\u4f8b\u3002<\/p>\n

\"2024\u5e74\u7f8eSEC\u300c\u521b\u6536\u300d47\u4ebf\u7f8e\u5143\uff0c\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u6210\u300c\u63d0\u6b3e\u673a\u300d\uff1f\"\"2024\u5e74\u7f8eSEC\u300c\u521b\u6536\u300d47\u4ebf\u7f8e\u5143\uff0c\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u6210\u300c\u63d0\u6b3e\u673a\u300d\uff1f\"<\/figure>\n

2020-2024\u00a0\u5e74\u7f5a\u6b3e\u4e8b\u4ef6\u91d1\u989d\u7edf\u8ba1<\/p>\n

\u5c0f\u7ed3\uff1a\u76d1\u7ba1\u968f\u884c\u4e1a\u53d1\u5c55\u65e5\u76ca\u6210\u719f\uff0c\u7f8e SEC \u4ecd\u662f\u300c\u8fbe\u6469\u514b\u5229\u65af\u4e4b\u5251\u300d<\/strong><\/p>\n

2013 \u5e74\uff0c\u52a0\u5bc6\u8d27\u5e01\u53d1\u5c55\u521d\u671f\uff0c\u7f8e SEC \u7f5a\u6b3e\u91d1\u989d\u4e3a 4070 \u4e07\u7f8e\u5143\uff1b<\/p>\n

2020 \u5e74\uff0c\u7f8e SEC \u5bf9 Robinhood Financial LLC \u5904\u4ee5 6500 \u4e07\u7f8e\u5143\u7684\u7f5a\u6b3e\uff1b<\/p>\n

2022 \u5e74\uff0c\u7f8e SEC \u5bf9\u4e2a\u4eba\u884c\u4e3a\u8005 Barksdales \u7684\u6b3a\u8bc8\u6027 ICO \u8fdb\u884c\u8d77\u8bc9\uff1b<\/p>\n

2023 \u5e74\uff0c\u7f8e SEC \u5bf9\u7f8e\u56fd\u4e0a\u5e02\u4ea4\u6613\u6240 Coinbase \u7b49\u63d0\u51fa\u6307\u63a7\uff1b<\/p>\n

2024 \u5e74\uff0c\u7f8e SEC \u5bf9 Terraform Labs \u548c Do Kwon \u5904\u4ee5\u521b\u7eaa\u5f55\u7684 46.8 \u4ebf\u7f8e\u5143\u7f5a\u6b3e\u3002<\/p>\n

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