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ADA Cardano 推出合规代币标准 CIP-0113：在去中心化与监管需求间寻求平衡
Cardano 已部署一项新的代币标准，允许受监管资产的发行方冻结、没收及限制其代币的流通。这一控制权虽然与加密货币“无需许可”的默认特性相悖，但却是银行、基金管理者以及稳定币发行商所迫切需要的合规工具。
Cardano 基金会于 10 月 7 日在 TOKEN2049 大会上宣布，经过多次独立的安全审计后，该标准（CIP-0113）已在 Cardano 主网上线。网络本身将在每一次转账、铸造和销毁操作中强制执行发行方的规则。
CIP-0113 的实际运作机制
根据基金会的公告，该标准允许发行方将 KYC（了解你的客户）和 AML（反洗钱）检查、制裁筛查、冻结与没收权力以及转账限制直接嵌入到原生的 Cardano 代币中。
CIP-0113 将合规逻辑附加到代币本身，而非应用程序或封装层。在此标准下发行的代币仍然是基于网络扩展 UTXO 模型构建的原生 Cardano 资产。因此，钱包、区块浏览器和应用程序会像处理其他任何资产一样对待它们，交易成本也保持可预测性。
Publishers can choose modular rule sets (called Modules) or write their own rules and update them as regulations change without having to hard fork or change the core protocol. It is important to note that freezing, confiscation and clawback powers apply only to tokens issued under this standard. They do not affect ADA or existing native assets, nor do they give the Cardano Foundation the power to control the network.
Frederik Gregaard, CEO of the Cardano Foundation, said in the announcement: "Rules must move with assets and be enforced at each transfer." He added that programmable tokens are still native assets, and "compliance is enforced by the network itself, not through encapsulation layers or closed systems."
Decentralized trade-offs
The powers granted by CIP-0113 run counter to the concept that "anyone can send funds to anyone." Depending on specific rules, the authorizing party can transfer tokens without the holder's consent. The code also recommends that lending services review these powers before accepting such tokens as collateral.
This is indeed a trade-off, but other major networks have embraced this model. Ethereum has a token standard ERC-3643 for rights control;Solana adds transfer control functions through token extensions; and XRP Ledger supports issuer recovery and holder restriction functions.
Cases at the institutional level are very specific. Both the Bank for International Settlements (BIS) and the International Monetary Fund (IMF) point out that programmability-that is, hard-coding compliance into assets-is at the core of the next generation of tokenized markets. The Swiss Capital Markets and Technology Association (CMTAT) has recognized CIP-0113 programmable asset token as the smart contract equivalent of its framework, thereby reducing Switzerland's due diligence burden based on ledger securities. The standard is designed to appeal to issuers Cardano wants to introduce, rather than day-to-day ADA holders.
Things to Watch for the Future
This release builds on Cardano's institutional promotion strategy, which has previously opened native tokens to institutional custody through Fireblocks and launched a pilot project with Petrobras to track renewable jet fuel and diesel. Wallets such as Eternl and GeroWallet, the CardanoScan block browser, and developer tool provider BloxBean all supported the new standard when it was launched.
The Cardano Foundation said it will continue to work with projects and institutions, including developing securities modules for regulated financial instruments. The real test is adoption rates: whether any stablecoin issuers, funds or bond plans actually use CIP-0113 to issue tokens, and whether the Cardano community accepts that the network now provides a native method of freezing and confiscating.
