美SEC拟推出基于Howey测试的代币分类法,尝试重新定义加密货币监管

Odaily
Nov 12, 2025

Odaily星球日报讯 美 SEC 主席 Paul Atkins 提出建立“代币分类法”,以 Howey Test 为基于划分何种加密资产属于证券,其称加密资产可随网络成熟、控制分散而脱离投资合同属性。Paul Atkins 补充称,在接下来的几个月里,预计美 SEC 将考虑建立一个以长期存在的豪威投资合同证券分析为基础的代币分类体系,同时也要认识到我们的法律法规存在一些限制性原则,加密货币可以成为投资合同的一部分,但这并不意味着它们会永远如此。 (The Block

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