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美众议员Emmer重推《证券清晰法案》,拟为加密资产划定监管边界

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2025-03-27 01:48:33

美国众议员重磅提案:
《证券清晰法案》或重塑加密行业合规格局



美国众议院议员Tom Emmer(共和党)与Darren Soto(民主党)近日联合重新提交《证券清晰法案》(Securities Clarity Act),该法案核心目标在于解决长期困扰加密行业的监管模糊问题,通过立法明确区分加密资产与证券合约的法律属性。



关键突破点:

• 首创"投资合约资产"法律概念,规定数字资产应独立于其初始发行时的证券合约状态

• 为去中心化阶段的代币重新分类为商品提供明确法律依据

• 建立创新项目合规发展路径,避免SEC监管不确定性阻碍技术发展



行业支持力度空前:

Coin Center、区块链协会(Blockchain Association)等顶级行业组织已公开背书,该法案被视为美国加密市场监管框架立法的重要里程碑,可能为后续《数字商品消费者保护法》等关键立法铺平道路。



对投资者的潜在影响:

1. 降低监管风险:明确代币合规标准,减少项目突发性监管打击

2. 增强市场确定性:法律分类清晰化将吸引更多机构资金入场

3. 长期价值重估:符合商品定义的代币可能获得更优估值模型

4. 注意过渡期波动:法案通过初期或引发市场重新定价

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