前代理CFTC主席卡罗琳·范发推:监管“B计划”已就绪
MoonPay Institutional首席执行官、前商品期货交易委员会(CFTC)代理主席卡罗琳·D·范(Caroline D. Pham)近日在社交媒体平台X上发布了一条引人深思的声明。她写道:“始终存在‘B计划’。”这一言论迅速引发了XRP社区的广泛关注。
在此语境下,“B计划”指的是美国证券交易委员会(SEC)和商品期货交易委员会(CFTC)的立法后规则制定工作。此前,《CLARITY法案》于9月15日未能通过终结辩论投票,以49票对50票落败,距离推进至全院辩论所需的60票还差11票。随着国会十月选举休会前的立法窗口关闭,监管的主导权已从国会转移至各监管机构。
SEC率先行动
SEC主席保罗·阿特金斯(Paul Atkins)在投票前已明确表态,承诺无论是否有立法支持,都将依据SEC的法定权限采取行动,且他确实兑现了诺言。
8月18日,SEC提出了《加密资产条例》(Regulation Crypto Assets),建立了一个新的发行框架,为作为投资合约的加密资产提供了两种注册豁免。
On September 1, the SEC subsequently made a comprehensive revision of the transfer agency rules, the first major update since the 1970s. The new rules clearly allow transfer agents to use blockchain and distributed ledger technology (DLT) to maintain securities ownership records. The proposal also introduces new reporting requirements on DLT use and tokenized securities activity.
On September 17, two days after the bill failed, the SEC issued an Innovation Exemption. The exemption grants participants a five-year relief measure allowing them to facilitate the circulation of tokenized NMS shares through automated market makers on the public blockchain. The exemption is valid until September 17, 2031.
The CFTC followed closely
CFTC Chairman Michael Selig said on the day of the Senate vote that his agency "has targeted and is ready to introduce rules." The CFTC acted quickly.
On September 17, the CFTC submitted the Crypto Asset Trading Regulations and the Crypto Asset Markets Regulations to the White House Office of Information and Regulatory Affairs, with the relevant identification code RIN3038-AF80.
On the same day, the CFTC issued Staff Letters Nos. 26-25, expanding the scope of non-enforcement exemptions for passive software providers to cover the entire industry, rather than being limited to a single company that previously only held authority.
The community responded enthusiastically
Fan's post triggered a positive response from the cryptocurrency community. One commentator reversed the narrative and wrote: "Plan A is for the CFTC to establish special economic zones (SES) for supervision; Plan B is for providing clarity." Another commentator celebrated the victory, writing: "We have been praying for Plan B. First it advanced slowly, and then suddenly it exploded in full swing."
The comment quoted a recent post by EasyA co-founder Dom Kwok, which suggested that XRP prices would rise rapidly. Many other commentators have also pointed out that rule-making has always been the main plan. This response suggests that communities view regulatory rulemaking as a credible way forward, rather than just a last resort.

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