阿姆斯特朗指出，美国证券交易委员会需要制定一项新政策，以帮助将加密货币归类为证券。
评论 Ripple 与 SEC 的诉讼
Armstrong 错误 SEC 的加密分类
Armstrong，最近参加了一个 All-In 播客访问，指出并非所有加密货币都是证券，因为有些是货币，而另一些是商品。
“按照相同的规定对待每一种加密货币是没有意义的。 一些加密货币，例如比特币和以太坊，可能是一种商品，而稳定币可能是一种货币。”
阿姆斯特朗表示，加密货币的不同性质意味着美国证券交易委员会不应成为监督加密市场的唯一监管机构，因为某些资产可能不属于其管辖范围。
Coinbase 首席执行官补充说，被归类为货币的加密货币可能会受到财政部的监管，而被视为商品的加密货币预计将受到商品期货交易委员会 (CFTC) 的监管。
“Commodities, securities, and currencies must each have a separate set of regulations and regulatory bodies. Commodities are overseen by the Commodities Futures Trading Commission (CFTC), securities by the Securities and Exchange Commission (SEC), and currencies by the Treasury. “
SEC Constantly Relies on Howey Tests to Classify Cryptos
While no regulatory clarity would determine which cryptocurrency should be deemed a security, currency, or commodity, the Securities and Exchange Commission has relied on the Supreme Court’s 1946 decision on SEC v. W.J. Howey Co., popularly referred to as the Howey test.
The Howey test determines whether a transaction should be considered an investment contract to be registered with the Securities and Exchange Commission.
According to the Howey test, when people pay for something with the expectation of making a profit over a period of time, then that transaction should be considered a security and must be registered with the SEC.
SEC Abusing the Howey Test?
Meanwhile, Brad Garlinghouse, Ripple’s CEO, noted in a recent interview that he believes the SEC is overstretching the Howey test to suit its objective.
“I think that the Howey Test is being stretched beyond recognition,” Garlinghouse said.
Similarly, legal experts also argued that security regulators strayed from the Howey Test in its quest to nail Ripple for not registering XRP with them.
SEC 在考虑 Howey 测试时需要为 Armstrong 建立新的测试。 根据 Armstrong 的说法，这是因为 Howey 测试已经过时，可能不适用于当前情况。
Coinbase 高管宣布他有兴趣与其他加密专家和监管机构合作，为新兴行业制定更友好的规则。
与此同时，Coinbase 是美国交易所之一，在该公司与 SEC 发生法律纠纷后，该交易所停止了对 Ripple 的 XRP 的支持。
