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ETH 美国商品期货交易委员会更新加密资产代币化监管指引
美国商品期货交易委员会（CFTC）近日修订了其监管指南，在特定条件下，允许注册的加密货币经纪商和清算所将客户资产投资于经批准的金融工具的代币化版本。这一举措标志着监管机构在明确加密行业规则方面迈出了重要一步。
扩大对代币化资产的指导范围
周四，CFTC发布了一份更新后的政策框架，该框架建立在今年3月发布的初步指导方针基础之上。公告详细说明了注册加密货币公司在何种情况下可以使用代币化资产版本：前提是这些代币必须提供与传统等效资产相同的法律和经济权利。
新政策还确认，受监管的企业可以在基于区块链的系统上维护记录。CFTC主席迈克尔·塞利格（Michael Selig）强调，此次修改旨在为加密行业带来更高的清晰度。只要符合既定标准，CFTC并不反对利用区块链技术进行记录保存。
获准的公司可以将客户资金分配给代币化替代方案，前提是数字形式与原始工具的法律保护和经济结构相匹配。这一监管步骤扩大了可代币化的资产范围，为专注于加密货币的企业在资产管理方面带来了效率提升和透明度增加的机会。
《CLARITY法案》未获推进
CFTC的修订指南紧随近期美国参议院的一项挫折之后，立法者未能推动《数字资产市场清晰法案》（Digital Asset Market Clarity Act）。该提案原旨在厘清CFTC与美国证券交易委员会（SEC）在数字资产领域的监管边界。
行业分析师目前预计，国会至少在2027年之前不会通过主要立法来定义加密市场的结构。鉴于立法进展停滞，包括CFTC和SEC在内的联邦监管机构正通过运用现有的法定权力，加速推进加密规则的制定。
CFTC已向白宫提交了一项市场监督战略。在此前立法受挫后，SEC发布了一项命令，建立了代币化证券交易的临时框架。SEC主席保罗·阿特金斯（Paul Atkins）此前曾暗示，即使没有国会的立法指导，其机构也准备好建立独立的加密货币交易准则。SEC已提出针对特定数字投资合同的监管提案。
业界及州级反应
加密行业大多支持《CLARITY法案》。Coinbase首席执行官布莱恩·阿姆斯特朗（Brian Armstrong）在早些时候参议院否决该法案后表示，该行业无法承受等待立法的代价。Blockchain Association首席执行官、前CFTC委员萨默·默辛格（Summer Mersinger）指出，更清晰的规则将刺激主流采用率，并吸引更多投资进入数字资产领域。
However, the bill has encountered resistance at the state level. Several state attorneys general have written to the Senate Banking Committee opposing the bill's possible loss of enforcement powers in securities markets. They argue that state governments must retain the power to protect consumers from fraud.
Aaron Klein of the Brookings Institution counters that federal oversight is best for capital markets and states should focus on prosecuting criminal fraud cases. Mursinger pointed out that state action usually occurs after violations occur and called for preventive federal regulation.
Although Senator Thom Tillis voted against it, the procedural move left open the possibility of him calling for a future re-vote, potentially reviving the legislation.
As agencies continue to advance regulatory measures, the development of parallel crypto markets has highlighted the rapid changes and complex technologies that participants must closely track. In the Meme Token market, an Internet trend can turn into millions of dollars in attention in a matter of days. According to data shared by Fomo App, a deal involving "Niu Lai" was eye-catching: an initial investment of $99 eventually increased to approximately $370,000, becoming a distinctive example of activity in this field. In this market, not only is price crucial, investors 'timing and token selection are equally critical. The Fomo App integrates token discovery and trading on the same platform, providing functions such as social dynamics, investor ranking and transaction notification.
