We are honored to announce that we are awarded the \'Caring Company 2003/04\' logo by the <a href=http://www.hkcss.org.hk/index_e.htm target=_blank>Hong Kong Council of Social Services (HKCSS)</a> in recognition of our outstanding corporate citizenship and care for the community. The Honourable, TUNG Chee Hwa, Chief Executive of the Hong Kong Special Administrative Region, officiated at the Recognition Ceremony on Feb 3, 2004.
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UDomain获<a href=http://www.hkcss.org.hk/index_e.htm target=_blank>香港社会服务联会</a>颁赠「商界展关怀 2003/04」标，我们深感荣幸。嘉许\典礼於2004年2月3日举行，由香港特别行政区行政长官董建华先生主持。<br>
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UDomain獲<a href=http://www.hkcss.org.hk/index_e.htm target=_blank>香港社會服務聯會</a>頒贈「商界展關懷 2003/04」標誌，我們深感榮幸。嘉許\典禮於2004年2月3日舉行，由香港特別行政區行政長官董建華先生主持。<br>
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<p>We are honored to announce that we are awarded the \'Caring Company 2003/04\' logo by the <a href="http://www.hkcss.org.hk/index_e.htm">in recognition of our outstanding corporate citizenship and care for the community. The Honourable, TUNG Chee Hwa, Chief Executive of the Hong Kong Special Administrative Region, officiated at the Recognition Ceremony on Feb 3, 2004.</a><br><br><br>&nbsp;</p>

<p>UDomain获<a href="http://www.hkcss.org.hk/index_e.htm">颁赠「商界展关怀 2003/04」标，我们深感荣幸。嘉许\典礼於2004年2月3日举行，由香港特别行政区行政长官董建华先生主持。</a><br><br>&nbsp;</p>

<p>UDomain獲<a href="http://www.hkcss.org.hk/index_e.htm">頒贈「商界展關懷 2003/04」標誌，我們深感榮幸。嘉許\典禮於2004年2月3日舉行，由香港特別行政區行政長官董建華先生主持。</a><br><br>&nbsp;</p>

UDomain becomes an accredited 'Caring Company' in 2003/04

UDomain 荣获社联嘉许为「商界展关怀 2003/04」公司

UDomain 榮獲社聯嘉許為「商界展關懷 2003/04」公司

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</div></div><p>According to the Financial Times, U.S. President Donald Trump plans to issue an upcoming executive order that would allow cryptocurrencies, gold, private equity, and other "alternative investments" to be included in the U.S. 401(k) retirement plans. This move is expected to have a significant impact on the U.S. retirement investment market.</p><p>&nbsp;</p><p>The report cites three informed sources indicating that once Trump’s executive order goes into effect, regulatory bodies will need to carefully review existing regulations to address barriers preventing alternative investments from entering professionally managed 401(k) retirement funds.</p><p>&nbsp;</p><p>This initiative comes as other federal agencies in the U.S. have recently relaxed their stance on allowing cryptocurrencies in retirement funds. Earlier reports indicated that the Department of Labor rescinded previous guidance on May 28, which had cautioned fund managers to be "extremely cautious" before incorporating cryptocurrencies into investment strategies. The Department of Labor claimed this move aimed to correct what it described as the Biden administration's "overreach."</p><p>&nbsp;</p><p>Members of Congress have also attempted to expand the acceptable investment options for 401(k) plans to include cryptocurrencies and other alternative assets. In 2022, Michigan Republican Representative Peter Meijer introduced the Retirement Savings Modernization Act, aimed at amending the Employee Retirement Income Security Act of 1974 to include digital assets, private equity, and venture capital; however, the bill ultimately did not receive a vote.</p><p>&nbsp;</p><p>According to the Investment Company Institute, as of March, Americans held approximately $8.7 trillion in 401(k) retirement funds. The 401(k) plan allows employees to transfer a portion of their wages into tax-deferred investment accounts, with employers often providing matching contributions.</p><p>&nbsp;</p><h3><strong>Some State Governments Begin Allowing Retirement Funds to Buy Bitcoin</strong></h3><p>&nbsp;</p><p>Some state governments have started to allow or are considering allowing digital assets to be included in state retirement investment plans. For example, the North Carolina legislature proposed two bills in March allowing up to 5% of specific retirement fund balances to be invested in cryptocurrencies. The Michigan Retirement System disclosed in 2024 that it holds approximately $6.6 million in ARKB Bitcoin ETF and $10 million in Ethereum ETF investments; the Wisconsin Investment Board revealed holdings worth $163 million in spot Bitcoin ETFs.</p><p>&nbsp;</p><p>Trump's potential executive order would have a profound impact on the U.S. retirement investment market and is expected to prompt a reevaluation of regulatory and investment strategies. However, the specific details of this initiative and its ultimate implementation remain to be seen.</p>

Trump's executive order unlocks 401(k) investments in crypto

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</div></div><p>据《金融时报》报道，美国总统特朗普计划透过一项即将发布的行政命令，允许将加密货币、黄金、私募股权及其他「另类投资」纳入美国的401(k)退休计划。此举将对美国退休投资市场产生重大影响。</p><p>&nbsp;</p><p>报道引述三位知情人士指出，特朗普的行政命令一旦生效，监管机构将需要仔细审查现有法规，以解决阻碍另类投资进入专业管理的401(k)退休基金的障碍。</p><p>&nbsp;</p><p>此举正值美国联邦政府其他机构近期放宽加密货币进入退休基金立场之际。 早前报道指，劳工部于5月28日撤销了先前发布的指引，该指引曾告诫基金经理在将加密货币纳入投资策略前应「极度谨慎」。劳工部声称此举旨在纠正拜登政府的「越权」行为。</p><p>&nbsp;</p><p>国会方面也曾有议员尝试扩大401(k)计划可接受的投资范围，纳入加密货币等另类资产。 2022年，密歇根州共和党众议员 Rep. Peter Meijer 提出的《退休储蓄现代化法案》(Retirement Savings Modernization Act) 旨在修订1974年《雇员退休收入保障法案》(Employee Retirement Income Security Act of 1974)，将数位资产、私募股权、风险投资等纳入其中，但该法案最终未能获得投票表决。</p><p>&nbsp;</p><p>根据投资公司协会（Investment Company Institute）数据，截至3月份，美国人持有约8.7万亿美元的401(k)退休基金。 401(k)计划允许雇员将部分工资转入免税投资账户，通常雇主也会提供相应供款。</p><p>&nbsp;</p><h3><strong>部分州政府已开始允许退休金买比特币</strong></h3><p>&nbsp;</p><p>部分州政府已开始允许或正考虑允许将数位资产纳入州立退休投资计划。例如，北卡罗来纳州议会在3月份提出两项法案，允许将特定退休基金余额的最多5%投资于加密货币。 密歇根州退休系统在2024年披露，持有约660万美元的ARKB比特币ETF和1000万美元的以太坊ETF投资；威斯康星州投资委员会则透露，持有价值1.63亿美元的现货比特币ETF。</p><p>&nbsp;</p><p>特朗普此项潜在的行政命令，将对美国退休投资市场带来深远影响，预计将引发市场对监管及投资策略的重新评估。 然而，此举的具体细节及最终能否实施，仍有待观察。</p>

特朗普行政命令解锁401(k)投资加密货币，市场准备迎接史诗级流动性

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</div></div><p><a href="https://www.ft.com/content/07906211-5ab8-4917-bcad-5397c0bc3170">據《金融時報》報道</a>，美國總統特朗普計劃透過一項即將發佈的行政命令，允許將加密貨幣、黃金、私募股權及其他「另類投資」納入美國的401(k)退休計劃。此舉將對美國退休投資市場產生重大影響。</p><p>&nbsp;</p><p>報道引述三位知情人士指出，<a href="https://cftime.io/three-major-u-s-crypto-regulation-bills/">特朗普</a>的行政命令一旦生效，監管機構將需要仔細審查現有法規，以解決阻礙另類投資進入專業管理的401(k)退休基金的障礙。</p><p>&nbsp;</p><p>此舉正值美國聯邦政府其他機構近期放寬加密貨幣進入退休基金立場之際。 早前報道指，勞工部於5月28日撤銷了先前發佈的指引，該指引曾告誡基金經理在將加密貨幣納入投資策略前應「極度謹慎」。勞工部聲稱此舉旨在糾正拜登政府的「越權」行為。</p><p>&nbsp;</p><p>國會方面也曾有議員嘗試擴大401(k)計劃可接受的投資範圍，納入加密貨幣等另類資產。2022年，密歇根州共和黨眾議員 Rep. Peter Meijer 提出的《退休儲蓄現代化法案》(Retirement Savings Modernization Act) 旨在修訂1974年《僱員退休收入保障法案》(Employee Retirement Income Security Act of 1974)，將數位資產、私募股權、風險投資等納入其中，但該法案最終未能獲得投票表決。</p><p>&nbsp;</p><p><a href="https://www.ici.org/statistical-report/ret_25_q1#:~:text=Americans%20held%20%2412.2%20trillion%20in,in%20401(k)%20plans.">根據投資公司協會（Investment Company Institute）數據，截至3月份</a>，美國人持有約8.7萬億美元的401(k)退休基金。401(k)計劃允許僱員將部分工資轉入免稅投資賬戶，通常僱主也會提供相應供款。</p><p>&nbsp;</p><h3>部分州政府已開始允許退休金買比特幣</h3><p>&nbsp;</p><p>部分州政府已開始允許或正考慮允許將數位資產納入州立退休投資計劃。例如，<a href="https://cftime.io/americans-do-not-support-us-cryptocurrency-reserve-plan/">北卡羅來納州</a>議會在3月份提出兩項法案，允許將特定退休基金餘額的最多5%投資於加密貨幣。 密歇根州退休系統在2024年披露，持有約660萬美元的ARKB比特幣ETF和1000萬美元的以太坊ETF投資；威斯康星州投資委員會則透露，持有價值1.63億美元的現貨比特幣ETF。</p><p>&nbsp;</p><p>特朗普此項潛在的行政命令，將對美國退休投資市場帶來深遠影響，預計將引發市場對監管及投資策略的重新評估。 然而，此舉的具體細節及最終能否實施，仍有待觀察。</p>

特朗普行政命令解鎖401(k)投資加密貨幣 市場準備迎接史詩級流動性

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</div></div><p>Bitcoin's price has broken through $120,000. Despite this astronomical rise, several on-chain indicators suggest that the current bull market is not overheating but rather indicates potential for continued growth.</p><p>&nbsp;</p><h3><strong>Bitcoin Soars as On-Chain Data Indicates Bull Market Sustainability</strong></h3><p>&nbsp;</p><p>Compared to the price peaks before March and December 2024, the current Bitcoin price surge exhibits different characteristics. In previous peaks, the Market Value to Realized Value (MVRV) ratio spiked above 2.7, reflecting high market speculation. However, the current MVRV ratio is only 2.2, indicating a relatively stable market environment.</p><p>&nbsp;</p><p>Data from CryptoQuant shows that short-term holders (those holding for less than a month) currently make up only 15% of the market, significantly lower than the 30% seen during prior price peaks. This suggests limited inflow of new funds and a relatively cautious investor sentiment. Additionally, the Short-Term Holder Profit and Loss Ratio (SOPR) indicates that recent buyers are not actively selling, resulting in relatively low selling pressure.</p><p>&nbsp;</p><p>The Miner Position Index (MPI) has also continued to decline, indicating that miners prefer to hold Bitcoin rather than sell, contrasting with the past phenomenon where rising prices prompted significant selling by miners.</p><p>&nbsp;</p><h3><strong>Institutional Investors Driving Growth, Not Speculative Trading</strong></h3><p>&nbsp;</p><p>CryptoQuant analysis indicates that the recent Bitcoin price increase is not driven by speculative trading but may be supported by strategic adoption by nations and corporations, suggesting a structurally different bull market cycle. Analysts emphasize that relying solely on historical patterns for on-chain data analysis is insufficient and requires deeper contextual interpretation. With no signs of overheating after breaking new highs, there is significant potential for further price increases in the medium to long term.</p><p>&nbsp;</p><h3><strong>Exchange Balances Continue to Decline, Reducing Sell-Off Risks</strong></h3><p>&nbsp;</p><p>Data from Santiment shows that despite Bitcoin's price rising nearly 20% since the low on June 22, traders have not been transferring large amounts of Bitcoin back to exchanges. Instead, holders are continuously moving Bitcoin to self-custody wallets. Over the past four months, exchange Bitcoin balances have decreased by 315,830 BTC, a drop of 21%; since July 2020, they have decreased by 1.88 million BTC, a decline of 61%. The ongoing decrease in exchange balances reduces the risk of large-scale sell-offs, indicating that long-term investors are more inclined to hold.</p><p>&nbsp;</p><p>In conclusion, while Bitcoin's price has reached a historic high, multiple on-chain data indicators suggest that this bull market differs from previous ones, exhibiting higher sustainability and potential for long-term development. However, market risks remain, and investors should remain cautious.</p>

Bitcoin breaks through the sky

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</div></div><p>比特币(BTC)价格突破12万美元，创下历史新高。尽管比特币冲破天际，但多项链上指标显示，当前牛市并未过热，反而暗示着持续增长的潜力。</p><p>&nbsp;</p><h3>比特币冲破天际 链上数据显示牛市可持续性</h3><p>&nbsp;</p><p>与2024年3月和12月之前的价格峰值相比，此次比特币价格上涨呈现出不同的特征。 以往峰值时，市值与实现价格比率 (MVRV) 曾飙升至2.7以上，反映市场投机情绪高涨。然而，目前MVRV比率仅为2.2，显示市场环境相对稳定。</p><p>&nbsp;</p><p>CryptoQuant的数据显示，短期持有者（持有时间少于一个月）目前仅占市场的15%，远低于先前价格高点时的30%。这意味着新增资金流入有限，投资者态度相对谨慎。 同时，短期持有者的短期持有者盈亏比率 (SOPR) 表明近期买家并未积极抛售，卖压相对低迷。</p><p>&nbsp;</p><p>矿工持仓指数 (MPI) 也持续下跌，显示矿工倾向于持有比特币而非抛售，与过去价格上涨引发矿工大量抛售的现象形成鲜明对比。</p><p>&nbsp;</p><h3>机构投资者推动，而非投机炒作</h3><p>&nbsp;</p><p>CryptoQuant分析指出，此次比特币价格上涨并非由投机炒作驱动，而是可能受到国家和企业战略性采用的支持，暗示着一个结构性不同的牛市周期。 分析师强调，单纯依靠历史模式分析链上数据已不足够，需要更深入的情境化解读。 由于突破新高未出现过热迹象，中长期价格进一步上涨的潜力巨大。</p><h3>&nbsp;</h3><h3>交易所余额持续下降，降低抛售风险</h3><p>&nbsp;</p><p>Santiment数据显示，尽管比特币价格自6月22日低点上涨近20%，但交易者并未将比特币大量转回交易所。 相反，持有者持续将比特币转移至自托管钱包。过去四个月，交易所比特币余额减少了315,830个BTC，降幅达21%；自2020年7月以来，减少了188万个BTC，降幅达61%。交易所余额的持续下降，降低了大规模抛售的风险，显示长期投资者更倾向于长期持有。</p><p>&nbsp;</p><p>总而言之，尽管比特币价格创下历史新高，但多项链上数据指标显示，此次牛市与以往不同，其可持续性较高，并可能拥有更长远的发展潜力。 然而，市场风险依然存在，投资者仍需保持谨慎。</p>

比特币冲破天际「却没人想卖」？链上指标惊现「2016年牛市复刻版」

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</div></div><p><a href="https://cftime.io/bitcoin-breaks-through-110k/">比特幣</a>(BTC)價格突破12萬美元，創下歷史新高。儘管比特幣衝破天際，但多項鏈上指標顯示，當前牛市並未過熱，反而暗示著持續增長的潛力。</p><p>&nbsp;</p><p><strong>即加入</strong><a href="https://t.me/+l--9PJpFdIgxOTk9"><strong>CFTime TG 討論區</strong></a><strong>！想掌握最新加密市場動態與 AI 新聞與資訊，更能隨時獲得免費 web 3入場券！</strong></p><p>&nbsp;</p><h3>比特幣衝破天際 <strong>鏈上數據顯示牛市可持續性</strong></h3><p>&nbsp;</p><p>與2024年3月和12月之前的價格峰值相比，此次比特幣價格上漲呈現出不同的特徵。 以往峰值時，市值與實現價格比率 (MVRV) 曾飆升至2.7以上，反映市場投機情緒高漲。然而，目前MVRV比率僅為2.2，顯示市場環境相對穩定。</p><p>&nbsp;</p><p><a href="https://cryptoquant.com/insights/quicktake/68703bb04cb15045bedc7859-New-All-Time-High-Without-Overheating-On-Chain-Data-Suggests-Room-for-Further-Gr">CryptoQuant的數據顯示</a>，短期持有者（持有時間少於一個月）目前僅佔市場的15%，遠低於先前價格高點時的30%。這意味著新增資金流入有限，投資者態度相對謹慎。 同時，短期持有者的短期持有者盈虧比率 (SOPR) 表明近期買家並未積極拋售，賣壓相對低迷。</p><p>&nbsp;</p><p>礦工持倉指數 (MPI) 也持續下跌，顯示礦工傾向於持有比特幣而非拋售，與過去價格上漲引發礦工大量拋售的現象形成鮮明對比。</p><p>&nbsp;</p><h3><strong>機構投資者推動，而非投機炒作</strong></h3><p>&nbsp;</p><p>CryptoQuant分析指出，此次比特幣價格上漲並非由投機炒作驅動，而是可能受到國家和企業戰略性採用的支持，暗示著一個結構性不同的牛市週期。 分析師強調，單純依靠歷史模式分析鏈上數據已不足夠，需要更深入的情境化解讀。 由於突破新高未出現過熱跡象，中長期價格進一步上漲的潛力巨大。</p><h3>&nbsp;</h3><h3><strong>交易所餘額持續下降，降低拋售風險</strong></h3><p>&nbsp;</p><p>Santiment數據顯示，儘管比特幣價格自6月22日低點上漲近20%，但交易者並未將比特幣大量轉回交易所。 相反，持有者持續將比特幣轉移至自託管錢包。過去四個月，交易所比特幣餘額減少了315,830個BTC，降幅達21%；自2020年7月以來，減少了188萬個BTC，降幅達61%。交易所餘額的持續下降，降低了大規模拋售的風險，顯示長期投資者更傾向於長期持有。</p><p>&nbsp;</p><p>總而言之，儘管比特幣價格創下歷史新高，但多項鏈上數據指標顯示，此次牛市與以往不同，其可持續性較高，並可能擁有更長遠的發展潛力。 然而，市場風險依然存在，投資者仍需保持謹慎。</p>

比特幣衝破天際「卻沒人想賣」？鏈上指標驚現「2016年牛市復刻版」

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</div></div><p>After the passage of the "One Big Beautiful Bill Act" by Congress, House Republicans are launching "Cryptocurrency Week" with an intensive legislative push aimed at reshaping the U.S. cryptocurrency regulatory framework and preventing future digital currency issuance by state governments. This initiative is seen as part of a broader plan by the Trump administration to establish U.S. leadership in global crypto innovation.</p><p>&nbsp;</p><h3><strong>Core Content of Cryptocurrency Week:</strong></h3><p>&nbsp;</p><p>The House plans to focus on three important cryptocurrency bills during the week of July 14: the "CLARITY Act," the "Anti-CBDC Surveillance State Act," and the "GENIUS Act." Republican lawmakers emphasize that these bills will bring regulatory certainty to the digital asset market while effectively preventing the Federal Reserve from issuing a Central Bank Digital Currency (CBDC).</p><p>&nbsp;</p><p>House Financial Services Committee Chairman French Hill (R-AR) stated, "After years of effort in Congress on digital assets, we are advancing landmark legislation to establish a clear regulatory framework for digital assets." This framework aims to protect consumer rights, enhance regulatory transparency, and explicitly prohibit the Federal Reserve from issuing a CBDC.</p><p>&nbsp;</p><p>House Agriculture Committee Chairman GT Thompson (R-PA) remarked, "The industry has long called for a clear regulatory framework. The House Agriculture Committee has worked alongside the Financial Services Committee to finalize the CLARITY Act, which will soon be voted on by the House and sent to the Senate for consideration."</p><h3>&nbsp;</h3><h3><strong>Progress of Cryptocurrency Week Legislation:</strong></h3><p>&nbsp;</p><p><strong>Anti-CBDC Surveillance State Act:</strong> Passed the House Financial Services Committee in April with a vote of 27 in favor and 22 against. This bill, introduced by Congressman Tom Emmer (R-MN), aims to prevent the Federal Reserve from issuing a digital dollar based on concerns over financial surveillance and the Fed transitioning to a retail banking institution.</p><p>&nbsp;</p><p><strong>CLARITY Act:</strong> Approved by the House Financial Services and Agriculture Committees in June. This bill would strip the U.S. Securities and Exchange Commission (SEC) of its oversight authority over the cryptocurrency industry.</p><p>&nbsp;</p><p><strong>GENIUS Act:</strong> Passed the Senate in June and is currently awaiting a vote in the House.</p><p>&nbsp;</p><p>Congressman Tom Emmer (R-MN) emphasized that these bills will safeguard financial privacy and strengthen the U.S.'s leading position in blockchain innovation, ultimately making America a leader in the global cryptocurrency space. "Innovators in the U.S. will have a clearer understanding of the regulatory environment, enabling them to grow domestically while ensuring that the future of the digital economy reflects our values of privacy, personal sovereignty, and free market competition."</p><p>&nbsp;</p><h3><strong>Coordination Between State Legislation and Federal Policy:</strong></h3><p>&nbsp;</p><p>Senator Cynthia Lummis (R-WY) noted that this federal action aligns with the legislative direction of some states. "Wyoming has actively embraced digital assets for nearly a decade, and we are pleased to see the federal government beginning to follow the Cowboy State's lead." She also expressed support for passing comprehensive stablecoin legislation to establish clear market rules and ensure that any CBDC respects the privacy and financial freedoms of Americans.</p>

US House Republicans launch "Crypto Week"

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</div></div><p>在「大而美法案」(One Big Beautiful Bill Act)，获国会通过后，美国众议院共和党人正发起「加密货币周」，以密集的立法行动，目标是重塑美国加密货币监管框架，并阻止未来由州政府发行数位货币。此举被视为特朗普政府更广泛计划的一部分，旨在确立美国在全球加密创新领域的领导地位。</p><h3>&nbsp;</h3><h3>加密货币周核心内容：</h3><p>&nbsp;</p><p>众议院计划于7月14日当周集中审议三项重要加密货币法案： 《CLARITY法案》、《反 CBDC 监控国家法案》以及《GENIUS法案》。 共和党立法者强调，这些法案将为数位资产市场带来监管确定性，同时有效阻止美联储发行中央银行数位货币 (CBDC)。</p><p>&nbsp;</p><p>众议院金融服务委员会主席 French Hill (R-AR) 在声明中指出：「经过多年在国会致力于数位资产的努力，我们正推进具有里程碑意义的法案，以建立明确的数位资产监管框架。」 该框架旨在保障消费者权益，提升监管透明度，并明确禁止美联储发行 CBDC。</p><p>&nbsp;</p><p>众议院农业委员会主席 GT Thompson (R-PA) 则表示：「业界长期呼吁明确的监管框架。众议院农业委员会与金融服务委员会携手合作，完成了《CLARITY法案》的制定，接下来将由众议院表决，并送交参议院审议。」</p><p>&nbsp;</p><p>加密货币周法案进展：</p><ul><li><br>《反 CBDC 监控国家法案》: 4月已以27票赞成、22票反对的结果通过众议院金融服务委员会。该法案由众议员 Tom Emmer (R-MN) 提出，旨在基于对金融监控以及美联储转变为零售银行机构的担忧，阻止美联储发行数位美元。<br>《CLARITY法案》: 6月获得众议院金融服务委员会和农业委员会批准。该法案将剥夺美国证券交易委员会 (SEC) 对加密货币行业的监督权。<br>《GENIUS法案》: 6月已通过参议院，目前等待众议院投票。</li></ul><p>&nbsp;</p><p>众议员 Tom Emmer (R-MN) 强调，通过这些法案将维护金融隐私，巩固美国在区块链创新上的领先地位，最终让美国成为全球加密货币领域的领头羊。 「美国的创新者将更清晰地了解监管环境，得以在国内发展，同时确保数位经济的未来能反映我们对隐私、个人主权和自由市场竞争的价值观。」</p><h3>&nbsp;</h3><h3>州级立法与联邦政策的协同：</h3><p>&nbsp;</p><p>参议员 Cynthia Lummis (R-WY) 指出，联邦政府的这一行动与部分州的立法方向一致。 「怀俄明州近十年来一直积极拥抱数位资产，我们很高兴看到联邦政府开始追随牛仔州的脚步。」 她同时表示，支持通过全面的稳定币法案，建立明确的市场规则，并确保任何 CBDC 都能尊重美国人的隐私和金融自由。</p>

美国众议院共和党发动「加密货币周」！三大法案7月中表决

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</div></div><p>在「<a href="https://cftime.io/big-beautiful-bill/">大而美法案</a>」(One Big Beautiful Bill Act)，獲國會通過後，美國眾議院共和黨人正發起「加密貨幣週」，以密集的立法行動，目標是重塑美國加密貨幣監管框架，並阻止未來由州政府發行數位貨幣。此舉被視為特朗普政府更廣泛計劃的一部分，旨在確立美國在全球加密創新領域的領導地位。</p><h3>&nbsp;</h3><h3>加密貨幣週<strong>核心內容：</strong></h3><p>&nbsp;</p><p>眾議院計劃於7月14日當週集中審議三項重要加密貨幣法案： 《CLARITY法案》、《反 CBDC 監控國家法案》以及《<a href="https://cftime.io/circle-plunges/">GENIUS</a>法案》。 共和黨立法者強調，這些法案將為數位資產市場帶來監管確定性，同時有效阻止美聯儲發行中央銀行數位貨幣 (CBDC)。</p><p>&nbsp;</p><p>眾議院金融服務委員會主席 French Hill (R-AR) <a href="https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=410793">在聲明中指出</a>：「經過多年在國會致力於數位資產的努力，我們正推進具有里程碑意義的法案，以建立明確的數位資產監管框架。」 該框架旨在保障消費者權益，提升監管透明度，並明確禁止美聯儲發行 CBDC。</p><p>&nbsp;</p><p>眾議院農業委員會主席 GT Thompson (R-PA) 則表示：「業界長期呼籲明確的監管框架。眾議院農業委員會與金融服務委員會攜手合作，完成了《CLARITY法案》的制定，接下來將由眾議院表決，並送交參議院審議。」</p><p>&nbsp;</p><p>加密貨幣週<strong>法案進展：</strong></p><ul><li>&nbsp;</li><li><strong>《反 CBDC 監控國家法案》:</strong> 4月已以27票贊成、22票反對的結果通過眾議院金融服務委員會。該法案由眾議員 Tom Emmer (R-MN) 提出，旨在基於對金融監控以及美聯儲轉變為零售銀行機構的擔憂，阻止美聯儲發行數位美元。</li><li><strong>《CLARITY法案》:</strong> 6月獲得眾議院金融服務委員會和農業委員會批准。該法案將剝奪美國證券交易委員會 (SEC) 對加密貨幣行業的監督權。</li><li><strong>《GENIUS法案》:</strong> 6月已通過參議院，目前等待眾議院投票。</li></ul><p>&nbsp;</p><p>眾議員 Tom Emmer (R-MN) 強調，通過這些法案將維護金融隱私，鞏固美國在區塊鏈創新上的領先地位，最終讓美國成為全球加密貨幣領域的領頭羊。「美國的創新者將更清晰地了解監管環境，得以在國內發展，同時確保數位經濟的未來能反映我們對隱私、個人主權和自由市場競爭的價值觀。」</p><p>&nbsp;</p><h3><strong>州級立法與聯邦政策的協同：</strong></h3><p>&nbsp;</p><p>參議員<a href="https://cftime.io/cynthia-lummis/"> Cynthia </a>Lummis (R-WY) 指出，聯邦政府的這一行動與部分州的立法方向一致。「懷俄明州近十年來一直積極擁抱數位資產，我們很高興看到聯邦政府開始追隨牛仔州的腳步。」 她同時表示，支持通過全面的穩定幣法案，建立明確的市場規則，並確保任何 CBDC 都能尊重美國人的隱私和金融自由。</p>

美國眾議院共和黨發動「加密貨幣週」！三大法案7月中表決  

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</div></div><p>&nbsp;</p><p>The world of cryptocurrency and blockchain technology has been a wild ride—full of innovation, opportunity, and, let’s be honest, a fair share of regulatory confusion. But 2025 is shaping up to be a game-changer for the U.S. crypto scene, thanks to two major pieces of legislation: the GENIUS Act and the CLARITY Act. These bills are poised to bring much-needed structure to the digital asset space, potentially transforming how businesses, investors, and developers operate in the blockchain ecosystem. In this blog, we’ll break down what these laws are, why they matter, and how they could redefine the future of crypto in America. Let’s dive in!</p><p>&nbsp;</p><h2 class="green-h2">What Are the GENIUS and CLARITY Acts?</h2><p><strong>The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act</strong> and <strong>the Digital Asset Market Clarity (CLARITY) Act</strong> are bipartisan bills designed to provide clear regulatory frameworks for cryptocurrencies and stablecoins in the United States. For years, the crypto industry has been stuck in a regulatory gray zone, with agencies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) often clashing over jurisdiction. This uncertainty has stifled innovation, pushed developers overseas, and left investors navigating a murky landscape. These acts aim to change that by setting clear rules for stablecoins, digital assets, and blockchain developers.</p><p>GENIUS Act: Focuses on regulating stablecoins—cryptocurrencies pegged to stable assets like the U.S. dollar—to ensure they’re safe, transparent, and usable for everyday transactions.<br>CLARITY Act: Creates a broader framework for digital assets, defining what qualifies as a security, commodity, or stablecoin, and assigns regulatory oversight to the appropriate agencies.</p><p>Together, these laws could unlock a new era of blockchain innovation, making the U.S. a global leader in digital finance.</p><p>&nbsp;</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><p>&nbsp;</p><h2 class="green-h2">Why These Laws Are a Big Deal</h2><p><span style="color:#2A3795;"><strong>Ending the Regulatory Wild West</strong></span></p><p>The crypto industry in the U.S. has long suffered from a lack of clarity. Without clear rules, businesses have faced uncertainty about compliance, and developers have been hesitant to build in the U.S. due to the risk of unexpected enforcement actions. The GENIUS and CLARITY Acts aim to end this chaos by providing:</p><p>Clear Definitions: The CLARITY Act categorizes digital assets into securities, commodities, or stablecoins, clarifying whether the SEC or CFTC has jurisdiction.<br>Stablecoin Guardrails: The GENIUS Act mandates reserve requirements, anti-money laundering compliance, and consumer protections for stablecoin issuers, ensuring they’re as reliable as traditional banking products.</p><p>This clarity is a win for everyone—from startups building decentralized apps to institutional investors looking to enter the crypto market.</p><p><span style="color:#2A3795;"><strong>Boosting Blockchain Innovation</strong></span></p><p>By removing regulatory ambiguity, these laws could unleash a wave of innovation similar to the internet boom after the 1996 Telecommunications Act. The GENIUS Act, for example, encourages traditional financial institutions like JPMorgan to explore blockchain-based solutions, such as tokenized deposits on public blockchains like Ethereum’s Base. Meanwhile, the CLARITY Act protects non-custodial developers (like those building decentralized protocols) from being unfairly treated as money transmitters, fostering a more decentralized ecosystem.</p><p><span style="color:#2A3795;"><strong>Protecting Consumers Without Stifling Growth</strong></span></p><p>One of the biggest criticisms of past crypto regulation attempts was that they either went too hard (crushing innovation) or too soft (leaving consumers vulnerable). These acts strike a balance:</p><p>GENIUS Act: Ensures stablecoins are fully backed by reserves and comply with strict anti-money laundering laws, but it doesn’t overburden issuers with unworkable rules.<br>CLARITY Act: Promotes self-custody and peer-to-peer transactions, empowering users to control their assets without intermediaries while maintaining consumer protections.</p><p>&nbsp;</p><h2 class="green-h2">Breaking Down the GENIUS Act: Stablecoins Get a Makeover</h2><p><span style="color:#2A3795;"><strong>What Is the GENIUS Act?</strong></span></p><p>The GENIUS Act, officially the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025, is all about stablecoins—digital currencies designed to maintain a stable value, typically pegged to the U.S. dollar. Unlike volatile cryptocurrencies like Bitcoin or Ethereum, stablecoins are ideal for payments, remittances, and DeFi applications because of their price stability. The GENIUS Act, which passed the Senate in June 2025, sets out to make stablecoins a trusted part of the financial system.</p><p><span style="color:#2A3795;"><strong>Key Provisions of the GENIUS Act</strong></span></p><p>Reserve Requirements: Stablecoin issuers must hold 1:1 reserves in cash or Treasury bills to ensure every coin is fully backed. This prevents the kind of unbacked stablecoin disasters we’ve seen in the past.<br>Bankruptcy Protections: If an issuer goes bankrupt, coin holders get priority for repayment, protecting consumers from losing their funds.<br>Anti-Money Laundering (AML) Compliance: Issuers must follow strict AML and counter-terrorism financing rules to keep bad actors out of the system.<br>No Interest Payments: Unlike bank deposits, stablecoins under the GENIUS Act can’t pay interest, keeping them distinct from traditional banking products.<br>Ethical Guardrails: The act prohibits members of Congress and senior officials from issuing stablecoins while in office, addressing concerns about conflicts of interest.</p><p><span style="color:#2A3795;"><strong>Why It Matters</strong></span></p><p>Stablecoins are the backbone of DeFi and cross-border payments. By providing a clear regulatory framework, the GENIUS Act could drive mainstream adoption, allowing companies and consumers to use stablecoins for low-cost, instant transactions worldwide. Industry experts like Paul Brody from EY call this a “galvanizing moment” for the crypto market, predicting it will reshape global payments.</p><p>&nbsp;</p><h2 class="green-h2">The CLARITY Act: A Roadmap for Digital Assets</h2><p><span style="color:#2A3795;"><strong>What Is the CLARITY Act?</strong></span></p><p>The Digital Asset Market Clarity Act of 2025 is a broader effort to regulate the entire crypto ecosystem. Introduced by Rep. French Hill, it passed key House committees in June 2025 and is awaiting a full House vote. The CLARITY Act aims to define what digital assets are, who regulates them, and how they can be used, bringing an end to years of regulatory tug-of-war between the SEC and CFTC.</p><p><span style="color:#2A3795;"><strong>Key Provisions of the CLARITY Act</strong></span></p><p>Digital Asset Categories: Divides digital assets into three groups: securities (overseen by the SEC), commodities (overseen by the CFTC), and stablecoins (regulated under frameworks like the GENIUS Act). For example, cryptocurrencies like XRP, DOGE, and ETH could be classified as “digital commodities.”<br>Non-Custodial Protections: Ensures developers of non-custodial protocols (like miners, validators, or wallet providers) aren’t unfairly treated as money transmitters, protecting decentralization.<br>Self-Custody Rights: Guarantees users the right to hold their own assets without relying on intermediaries, promoting financial freedom.<br>Exchange and Broker Registration: Requires digital commodity exchanges, brokers, and dealers to register with the CFTC, creating a regulated marketplace.</p><p><span style="color:#2A3795;"><strong>Why It Matters</strong></span></p><p>The CLARITY Act could finally resolve the question of “who regulates what” in crypto. By assigning the CFTC as the primary regulator for digital commodities, it reduces the SEC’s often heavy-handed approach, which has been criticized for stifling innovation. This shift could make it easier for exchanges and projects to operate in the U.S. without fear of legal repercussions.</p><p>&nbsp;</p><h2 class="green-h2">What’s Next for These Bills?</h2><p>As of July 7, 2025, the GENIUS Act has passed the Senate and is awaiting a House vote, with some experts predicting it could be signed into law by August if it moves quickly. The CLARITY Act, meanwhile, has cleared House committees and is headed for a full House vote, though its Senate journey may be bumpier due to its broader scope. There’s also debate about whether the two bills should be combined, with some lawmakers, including President Trump, opposing this to keep the stablecoin-focused GENIUS Act streamlined.</p><p>&nbsp;</p><h2 class="green-h2">Potential Challenges</h2><p>Political Pushback: Some Democrats have raised concerns about the GENIUS Act’s ties to certain stablecoin issuers and proposed amendments to add stricter anti-corruption measures.<br>Consumer Protection Gaps: Critics argue the GENIUS Act lacks robust protections, like deposit insurance similar to the FDIC’s $250,000 guarantee for bank accounts.<br>Non-Native Tokens: The CLARITY Act’s focus on blockchain-native tokens might leave some utility tokens (like those tied to lending protocols) classified as securities, potentially complicating regulation.</p><p>&nbsp;</p><h2 class="green-h2">How These Laws Could Shape the Future</h2><p>If signed into law, the GENIUS and CLARITY Acts could:</p><p>Attract Investment: Clear rules will give institutional players like Goldman Sachs and JPMorgan confidence to invest heavily in blockchain projects.<br>Boost DeFi and Stablecoin Use: Stablecoins could become a go-to for global payments, while DeFi platforms benefit from clearer guidelines for non-custodial protocols.<br>Keep Innovation in the U.S.: By creating a friendly regulatory environment, these laws could prevent developers from fleeing to jurisdictions like the EU, which already has the MiCA framework.<br>Set a Global Standard: The U.S. could lead the way in crypto regulation, influencing how other countries approach digital assets.</p><p>As crypto advocate John Deaton noted, these laws could make it “highly unlikely” for future administrations to reverse course on crypto-friendly policies, ensuring long-term stability for the industry.</p><p>&nbsp;</p><h2 class="green-h2">Get Ready for a New Crypto Era</h2><p>The GENIUS and CLARITY Acts are more than just bills—they’re a signal that the U.S. is ready to embrace blockchain technology and cryptocurrencies as critical pieces of the financial future. For developers, investors, and everyday users, these laws promise a safer, clearer, and more innovative crypto ecosystem. Whether you’re a blockchain newbie or a seasoned DeFi trader, now’s the time to pay attention. The rules of the game are changing, and the U.S. is gearing up to lead the charge.</p><p>&nbsp;</p><p style="text-align:center;">UD is a leading blockchain and network security solution provider in Hong Kong<br>We are dedicated to assisting enterprises in advancing their businesses through innovative blockchain technology, ushering from Web 2.0 to Web 3.0</p><div class="raw-html-embed"><a id="productEnquiryBtn" class="normal" data-cta="Service-Enquiry" href="https://www.ud.hk/en/blockchain-consulting-services">Consult Experts</a></div><p><br>&nbsp;&nbsp;</p>

The GENIUS and CLARITY Acts: Your Guide to the Crypto Laws Reshaping America’s Blockchain Future

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</div></div><p>&nbsp;</p><p>加密货币和区块链技术的世界就像一场刺激的冒险，充满创新、机会，但也不乏监管上的混乱。然而，2025年将成为美国加密行业的转捩点，这得益于两项重要的立法：GENIUS法案和CLARITY法案。这两项法案将为数位资产市场提供清晰的监管框架，可能改变企业、投资者和开发者在区块链生态系统中的运作方式。在这篇部落格中，我们将深入解析这两项法案的内容、重要性，以及它们如何重塑美国的加密货币未来。</p><p>&nbsp;</p><h2 class="green-h2">GENIUS与CLARITY法案是什麽？</h2><p><strong>美国稳定币创新与指导法案（GENIUS Act）</strong>和 <strong>数位资产市场清晰法案（CLARITY Act）</strong>是两项跨党派法案，旨在为美国的加密货币和稳定币提供明确的监管框架。多年来，加密行业一直处于监管灰色地带，证券交易委员会（SEC）与商品期货交易委员会（CFTC）在管辖权上频频争执。这种不确定性阻碍了创新，迫使开发者转向海外，投资者也在不明朗的环境中挣扎。这两项法案旨在解决这些问题，为稳定币、数位资产和区块链开发者制定清晰规则。</p><p>GENIUS法案：专注于监管稳定币（与美元等稳定资产挂钩的加密货币），确保其安全、透明且适用于日常交易。<br>CLARITY法案：为数位资产提供更广泛的框架，定义哪些资产属于证券、商品或稳定币，并明确由哪个机构负责监管。</p><p>这两项法案可能开启区块链创新的新时代，让美国成为全球数位金融的领导者。</p><p>&nbsp;</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><p>&nbsp;</p><h2 class="green-h2">为什麽这两项法案如此重要？</h2><p><span style="color:#2A3795;"><strong>终结监管乱象</strong></span></p><p>美国的加密行业长期以来缺乏明确的监管规则，企业面临合规的不确定性，开发者因担心突如其来的执法行动而不敢在美国发展。GENIUS与CLARITY法案通过以下方式解决这一问题：</p><p>明确定义：CLARITY法案将数位资产分为证券、商品和稳定币，明确SEC或CFTC的管辖权。<br>稳定币规范：GENIUS法案要求稳定币发行人遵守储备要求、反洗钱法规和消费者保护措施，确保稳定币像传统银行产品一样可靠。</p><p>这种清晰的监管框架对所有人来说都是双赢——从开发去中心化应用的新创公司到希望进入加密市场的机构投资者。</p><p><span style="color:#2A3795;"><strong>推动区块链创新</strong></span></p><p>通过消除监管不确定性，这两项法案可能引发类似1996年《电信法案》后的互联网热潮。GENIUS法案鼓励像摩根大通这样的传统金融机构探索区块链解决方案，例如在以太坊Base等公链上进行代币化存款。CLARITY法案则保护非託管开发者（例如去中心化协议的开发者），避免他们被不公平地视为货币传输者，促进更去中心化的生态系统。</p><p><span style="color:#2A3795;"><strong>在保护消费者与促进成长间取得平衡</strong></span></p><p>过去的加密监管尝试要麽过于严苛（扼杀创新），要麽过于宽松（让消费者暴露于风险）。这两项法案在两者间找到平衡：</p><p>GENIUS法案：确保稳定币有足额储备，并遵守严格的反洗钱法规，但不会以过于繁琐的规则压垮发行人。<br>CLARITY法案：促进自我託管和点对点交易，让用户能掌控自己的资产，无需依赖中介机构，同时保持消费者保护。</p><p>&nbsp;</p><h2 class="green-h2">深入解析GENIUS法案：稳定币的全面升级</h2><p><span style="color:#2A3795;"><strong>GENIUS法案是什麽？</strong></span></p><p>美国稳定币创新与指导法案（GENIUS Act）专注于稳定币，这是一种设计为保持稳定价值的数位货币，通常与美元挂钩。与比特币或以太坊等波动性较高的加密货币不同，稳定币因其价格稳定，适用于支付、跨境汇款和去中心化金融（DeFi）应用。GENIUS法案于2025年6月通过参议院，旨在让稳定币成为金融系统中值得信赖的一部分。</p><p><span style="color:#2A3795;"><strong>GENIUS法案的关键内容</strong></span></p><p>储备要求：稳定币发行人必须持有1:1的现金或国库券储备，确保每枚稳定币都有足额支持，避免过去未备足储备的稳定币灾难。<br>破产保护：若发行人破产，稳定币持有者享有优先偿付权，保护消费者免于资金损失。<br>反洗钱合规：发行人需遵守严格的反洗钱和反恐融资规定，杜绝不法分子利用稳定币。<br>禁止支付利息：与银行存款不同，GENIUS法案下的稳定币不得支付利息，以区别于传统银行产品。<br>道德规范：法案禁止国会议员和高级官员在任内发行稳定币，以解决利益冲突的问题。</p><p><span style="color:#2A3795;"><strong>为什麽重要？</strong></span></p><p>稳定币是DeFi和跨境支付的支柱。GENIUS法案提供清晰的监管框架，可能推动稳定币的主流採用，让企业和消费者能以低成本、即时的方式进行全球交易。行业专家如安永（EY）的Paul Brody称这是加密市场的“催化时刻”，预测将重塑全球支付格局。</p><p>&nbsp;</p><h2 class="green-h2">CLARITY法案：数位资产的路线图</h2><p><span style="color:#2A3795;"><strong>CLARITY法案是什麽？</strong></span></p><p>数位资产市场清晰法案（CLARITY Act） 旨在为整个加密生态系统提供监管框架。由众议员French Hill提出，该法案于2025年6月通过众议院委员会，现正等待众议院全体投票。CLARITY法案解决了“谁监管什麽”的问题，终结了SEC与CFTC之间的长期争执。</p><p><span style="color:#2A3795;"><strong>CLARITY法案的关键内容</strong></span></p><p>数位资产分类：将数位资产分为三类：证券（由SEC监管）、商品（由CFTC监管）和稳定币（受GENIUS法案等框架监管）。例如，像XRP、DOGE和ETH这样的加密货币可能被归类为“数位商品”。<br>非託管保护：确保非託管协议的开发者（如矿工、验证者或钱包提供者）不被不公平地视为货币传输者，保护去中心化生态。<br>自我託管权利：保障用户无需依赖中介机构即可持有资产，促进财务自由。<br>交易所和经纪人註册：要求数位商品交易所、经纪人和交易商向CFTC註册，建立受监管的市场。</p><p><span style="color:#2A3795;"><strong>为什麽重要？</strong></span></p><p>CLARITY法案最终解决了加密货币监管的归属问题。通过指定CFTC作为数位商品的主要监管机构，减少了SEC过于严苛的监管方式，这种方式常被批评为扼杀创新。这一转变可能使美国的交易所和项目更容易在无法律风险的情况下运营。</p><p>&nbsp;</p><h2 class="green-h2">法案的下一步？</h2><p>截至2025年7月7日，GENIUS法案已通过参议院，正等待众议院投票，若进展顺利，专家预测可能于8月签署成为法律。CLARITY法案已通过众议院委员会，即将进行全体投票，但其参议院审议可能因范围较广而更具挑战。部分议员讨论是否合併这两项法案，但包括川普总统在内的一些人反对合併，认为应保持GENIUS法案对稳定币的专注。</p><p><span style="color:#2A3795;"><strong>潜在挑战</strong></span></p><p>政治阻力：一些民主党人对GENIUS法案与某些稳定币发行人的关联表示担忧，提出增强反腐措施的修正案。<br>消费者保护不足：批评者认为GENIUS法案缺乏强大的保护措施，例如类似FDIC的25万美元存款保险。<br>非原生代币问题：CLARITY法案专注于区块链原生代币，可能导致某些实用代币（如借贷协议相关代币）被归类为证券，增加监管複杂性。</p><p>&nbsp;</p><h2 class="green-h2">这些法案如何塑造未来？</h2><p>若成为法律，GENIUS与CLARITY法案可能：</p><p>吸引投资：清晰的规则将为高盛、摩根大通等机构投资者提供信心，大举投资区块链项目。<br>推动DeFi和稳定币应用：稳定币可能成为全球支付的主流工具，DeFi平台也将受益于非託管协议的明确指引。<br>留住美国创新：友好的监管环境可防止开发者流向欧盟等已有MiCA框架的地区。<br>树立全球标准：美国可能在加密监管上引领全球，影响其他国家的数位资产政策。</p><p>正如加密货币倡导者John Deaton所说，这些法案将使未来政府“极不可能”逆转对加密友好的政策，确保行业长期稳定。</p><p>&nbsp;</p><h2 class="green-h2">迎接加密新时代</h2><p>GENIUS与CLARITY法案不仅仅是法案，它们标誌着美国准备拥抱区块链技术和加密货币作为金融未来的关键部分。对于开发者、投资者和普通用户来说，这些法案承诺打造更安全、清晰和创新的加密生态系统。无论你是区块链新手还是资深的DeFi交易者，现在是关注的时候了。游戏规则正在改变，美国正准备引领潮流。</p><p>&nbsp;</p><p style="text-align:center;"><span style="color:#3C3C3C;">UD 是香港领先区块链及网络安全方案供应商</span><br><span style="color:#3C3C3C;">致力助不同的企业通过创新区块链技术进一步发展业务，从 Web 2.0 向 Web 3.0 的新时代迈进</span></p><div class="raw-html-embed"><a id="productEnquiryBtn" class="normal" data-cta="Service-Enquiry" href="https://www.ud.hk/sc/blockchain-consulting-services">谘询专家</a></div><p><br>&nbsp;</p>

GENIUS与CLARITY法案：美国区块链未来的关键加密法规全解析

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</div></div><p>&nbsp;</p><p>加密貨幣和區塊鏈技術的世界就像一場刺激的冒險，充滿創新、機會，但也不乏監管上的混亂。然而，2025年將成為美國加密行業的轉捩點，這得益於兩項重要的立法：GENIUS法案和CLARITY法案。這兩項法案將為數位資產市場提供清晰的監管框架，可能改變企業、投資者和開發者在區塊鏈生態系統中的運作方式。在這篇部落格中，我們將深入解析這兩項法案的內容、重要性，以及它們如何重塑美國的加密貨幣未來。</p><p>&nbsp;</p><h2 class="green-h2">GENIUS與CLARITY法案是什麼？</h2><p><strong>美國穩定幣創新與指導法案（GENIUS Act）</strong>和 <strong>數位資產市場清晰法案（CLARITY Act）</strong>是兩項跨黨派法案，旨在為美國的加密貨幣和穩定幣提供明確的監管框架。多年來，加密行業一直處於監管灰色地帶，證券交易委員會（SEC）與商品期貨交易委員會（CFTC）在管轄權上頻頻爭執。這種不確定性阻礙了創新，迫使開發者轉向海外，投資者也在不明朗的環境中掙扎。這兩項法案旨在解決這些問題，為穩定幣、數位資產和區塊鏈開發者制定清晰規則。</p><p>GENIUS法案：專注於監管穩定幣（與美元等穩定資產掛鉤的加密貨幣），確保其安全、透明且適用於日常交易。<br>CLARITY法案：為數位資產提供更廣泛的框架，定義哪些資產屬於證券、商品或穩定幣，並明確由哪個機構負責監管。</p><p>這兩項法案可能開啟區塊鏈創新的新時代，讓美國成為全球數位金融的領導者。</p><p>&nbsp;</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><p>&nbsp;</p><h2 class="green-h2">為什麼這兩項法案如此重要？</h2><p><span style="color:#2A3795;"><strong>終結監管亂象</strong></span></p><p>美國的加密行業長期以來缺乏明確的監管規則，企業面臨合規的不確定性，開發者因擔心突如其來的執法行動而不敢在美國發展。GENIUS與CLARITY法案通過以下方式解決這一問題：</p><p>明確定義：CLARITY法案將數位資產分為證券、商品和穩定幣，明確SEC或CFTC的管轄權。<br>穩定幣規範：GENIUS法案要求穩定幣發行人遵守儲備要求、反洗錢法規和消費者保護措施，確保穩定幣像傳統銀行產品一樣可靠。</p><p>這種清晰的監管框架對所有人來說都是雙贏——從開發去中心化應用的新創公司到希望進入加密市場的機構投資者。</p><p><span style="color:#2A3795;"><strong>推動區塊鏈創新</strong></span></p><p>通過消除監管不確定性，這兩項法案可能引發類似1996年《電信法案》後的互聯網熱潮。GENIUS法案鼓勵像摩根大通這樣的傳統金融機構探索區塊鏈解決方案，例如在以太坊Base等公鏈上進行代幣化存款。CLARITY法案則保護非託管開發者（例如去中心化協議的開發者），避免他們被不公平地視為貨幣傳輸者，促進更去中心化的生態系統。</p><p><span style="color:#2A3795;"><strong>在保護消費者與促進成長間取得平衡</strong></span></p><p>過去的加密監管嘗試要麼過於嚴苛（扼殺創新），要麼過於寬鬆（讓消費者暴露於風險）。這兩項法案在兩者間找到平衡：</p><p>GENIUS法案：確保穩定幣有足額儲備，並遵守嚴格的反洗錢法規，但不會以過於繁瑣的規則壓垮發行人。<br>CLARITY法案：促進自我託管和點對點交易，讓用戶能掌控自己的資產，無需依賴中介機構，同時保持消費者保護。</p><p>&nbsp;</p><h2 class="green-h2">深入解析GENIUS法案：穩定幣的全面升級</h2><p><span style="color:#2A3795;"><strong>GENIUS法案是什麼？</strong></span></p><p>美國穩定幣創新與指導法案（GENIUS Act）專注於穩定幣，這是一種設計為保持穩定價值的數位貨幣，通常與美元掛鉤。與比特幣或以太坊等波動性較高的加密貨幣不同，穩定幣因其價格穩定，適用於支付、跨境匯款和去中心化金融（DeFi）應用。GENIUS法案於2025年6月通過參議院，旨在讓穩定幣成為金融系統中值得信賴的一部分。</p><p><span style="color:#2A3795;"><strong>GENIUS法案的關鍵內容</strong></span></p><p>儲備要求：穩定幣發行人必須持有1:1的現金或國庫券儲備，確保每枚穩定幣都有足額支持，避免過去未備足儲備的穩定幣災難。<br>破產保護：若發行人破產，穩定幣持有者享有優先償付權，保護消費者免於資金損失。<br>反洗錢合規：發行人需遵守嚴格的反洗錢和反恐融資規定，杜絕不法分子利用穩定幣。<br>禁止支付利息：與銀行存款不同，GENIUS法案下的穩定幣不得支付利息，以區別於傳統銀行產品。<br>道德規範：法案禁止國會議員和高級官員在任內發行穩定幣，以解決利益衝突的問題。</p><p><span style="color:#2A3795;"><strong>為什麼重要？</strong></span></p><p>穩定幣是DeFi和跨境支付的支柱。GENIUS法案提供清晰的監管框架，可能推動穩定幣的主流採用，讓企業和消費者能以低成本、即時的方式進行全球交易。行業專家如安永（EY）的Paul Brody稱這是加密市場的“催化時刻”，預測將重塑全球支付格局。</p><p>&nbsp;</p><h2 class="green-h2">CLARITY法案：數位資產的路線圖</h2><p><span style="color:#2A3795;"><strong>CLARITY法案是什麼？</strong></span></p><p>數位資產市場清晰法案（CLARITY Act） 旨在為整個加密生態系統提供監管框架。由眾議員French Hill提出，該法案於2025年6月通過眾議院委員會，現正等待眾議院全體投票。CLARITY法案解決了“誰監管什麼”的問題，終結了SEC與CFTC之間的長期爭執。</p><p><span style="color:#2A3795;"><strong>CLARITY法案的關鍵內容</strong></span></p><p>數位資產分類：將數位資產分為三類：證券（由SEC監管）、商品（由CFTC監管）和穩定幣（受GENIUS法案等框架監管）。例如，像XRP、DOGE和ETH這樣的加密貨幣可能被歸類為“數位商品”。<br>非託管保護：確保非託管協議的開發者（如礦工、驗證者或錢包提供者）不被不公平地視為貨幣傳輸者，保護去中心化生態。<br>自我託管權利：保障用戶無需依賴中介機構即可持有資產，促進財務自由。<br>交易所和經紀人註冊：要求數位商品交易所、經紀人和交易商向CFTC註冊，建立受監管的市場。</p><p><span style="color:#2A3795;"><strong>為什麼重要？</strong></span></p><p>CLARITY法案最終解決了加密貨幣監管的歸屬問題。通過指定CFTC作為數位商品的主要監管機構，減少了SEC過於嚴苛的監管方式，這種方式常被批評為扼殺創新。這一轉變可能使美國的交易所和項目更容易在無法律風險的情況下運營。</p><p>&nbsp;</p><h2 class="green-h2">法案的下一步？</h2><p>截至2025年7月7日，GENIUS法案已通過參議院，正等待眾議院投票，若進展順利，專家預測可能於8月簽署成為法律。CLARITY法案已通過眾議院委員會，即將進行全體投票，但其參議院審議可能因範圍較廣而更具挑戰。部分議員討論是否合併這兩項法案，但包括川普總統在內的一些人反對合併，認為應保持GENIUS法案對穩定幣的專注。</p><p><span style="color:#2A3795;"><strong>潛在挑戰</strong></span></p><p>政治阻力：一些民主黨人對GENIUS法案與某些穩定幣發行人的關聯表示擔憂，提出增強反腐措施的修正案。<br>消費者保護不足：批評者認為GENIUS法案缺乏強大的保護措施，例如類似FDIC的25萬美元存款保險。<br>非原生代幣問題：CLARITY法案專注於區塊鏈原生代幣，可能導致某些實用代幣（如借貸協議相關代幣）被歸類為證券，增加監管複雜性。</p><p>&nbsp;</p><h2 class="green-h2">這些法案如何塑造未來？</h2><p>若成為法律，GENIUS與CLARITY法案可能：</p><p>吸引投資：清晰的規則將為高盛、摩根大通等機構投資者提供信心，大舉投資區塊鏈項目。<br>推動DeFi和穩定幣應用：穩定幣可能成為全球支付的主流工具，DeFi平台也將受益於非託管協議的明確指引。<br>留住美國創新：友好的監管環境可防止開發者流向歐盟等已有MiCA框架的地區。<br>樹立全球標準：美國可能在加密監管上引領全球，影響其他國家的數位資產政策。</p><p>正如加密貨幣倡導者John Deaton所說，這些法案將使未來政府“極不可能”逆轉對加密友好的政策，確保行業長期穩定。</p><p>&nbsp;</p><h2 class="green-h2">迎接加密新時代</h2><p>GENIUS與CLARITY法案不僅僅是法案，它們標誌著美國準備擁抱區塊鏈技術和加密貨幣作為金融未來的關鍵部分。對於開發者、投資者和普通用戶來說，這些法案承諾打造更安全、清晰和創新的加密生態系統。無論你是區塊鏈新手還是資深的DeFi交易者，現在是關注的時候了。遊戲規則正在改變，美國正準備引領潮流。</p><p>&nbsp;</p><p style="text-align:center;"><span style="color:#3C3C3C;">D 是香港領先區塊鏈及網絡安全方案供應商</span><br><span style="color:#3C3C3C;">致力助不同的企業通過創新區塊鏈技術進一步發展業務，從 Web 2.0 向 Web 3.0 的新時代邁進</span></p><div class="raw-html-embed"><a id="productEnquiryBtn" class="normal" data-cta="Service-Enquiry" href="https://www.ud.hk/tc/blockchain-consulting-services">諮詢專家</a></div><p>&nbsp;</p><p>&nbsp;</p>

GENIUS與CLARITY法案：美國區塊鏈未來的關鍵加密法規全解析

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</div></div><p>&nbsp;</p><p>Stablecoins are transforming how we think about money in the digital age, and one name stands out: USDC. Issued by Circle, USDC has become a cornerstone of the crypto market, and Circle’s recent IPO under the ticker CRCL has sent shockwaves through both crypto and traditional finance. In this article, we’ll break down what USDC is, why Circle’s IPO is a game-changer, and what it means for the future of digital currency. Whether you’re a crypto newbie or a seasoned trader, this guide will give you the lowdown on this seismic shift.</p><p>&nbsp;</p><h2 class="green-h2">What Is USDC?</h2><p>The Stablecoin PowerhouseUSDC, or USD Coin, is a stablecoin pegged 1:1 to the U.S. dollar, designed to provide stability in the volatile crypto market. Launched by Circle in 2018, USDC allows users to move funds quickly and securely across blockchains without the wild price swings of cryptocurrencies like Bitcoin or Ethereum. Think of it as a digital dollar that lives on the blockchain, making it ideal for trading, payments, and decentralized finance (DeFi) applications.&nbsp;</p><p>&nbsp;</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><p>&nbsp;</p><h2 class="green-h2">How Does USDC Work?</h2><p>USDC is backed by reserves of cash, short-term U.S. Treasury bills, and other liquid assets, ensuring its value stays close to $1. These reserves are managed by trusted institutions like BlackRock and held in custody at BNY Mellon, with regular audits to maintain transparency. As of July 2025, USDC has a circulating supply of over $61 billion, making it the second-largest stablecoin behind Tether’s USDT.</p><p>Here’s why USDC is a big deal:Stability:&nbsp;</p><p>－ Pegged to the dollar, it’s a safe haven for crypto traders.<br>－ Transparency: Circle publishes regular attestations of its reserves.<br>－ Versatility: USDC operates across multiple blockchains like Ethereum, Solana, and Avalanche, enhancing its usability.<br>－ Institutional Appeal: Its regulatory compliance makes it a favorite for businesses and institutional investors.</p><p>&nbsp;</p><h2 class="green-h2">Circle: The Company Behind USDC</h2><p>Circle Internet Group, the Boston-based fintech behind USDC, is a leader in bridging traditional finance and crypto. Founded in 2013, Circle has focused on building a trusted, regulated platform for digital currencies. Its flagship product, USDC, has grown to dominate 25% of the stablecoin market, driven by pro-crypto legislation like the U.S. Senate’s GENIUS Act.</p><p>Circle’s mission is to create a seamless, transparent financial system on the internet. As CEO Jeremy Allaire puts it, “Circle has long sought to uphold the highest standards of trust, transparency, governance, and compliance.” This commitment has positioned Circle as a trusted player in both crypto and traditional markets.</p><p>&nbsp;</p><h2 class="green-h2">The CRCL IPO: A Crypto Milestone</h2><p>On June 5, 2025, Circle went public on the New York Stock Exchange under the ticker CRCL, raising $1.1 billion in one of the most oversubscribed IPOs in recent memory—25 times oversubscribed, to be exact. The IPO priced shares at $31, but they skyrocketed, hitting a peak of $299 and settling around $181.29 by June 30, giving Circle a market cap of roughly $43.75 billion.</p><p>This explosive debut reflects investor frenzy for stablecoin exposure, fueled by:</p><p>－ Regulatory Tailwinds: The GENIUS Act, passed by the U.S. Senate, signals a crypto-friendly regulatory environment, boosting confidence in USDC’s future.<br>－ Market Demand: With USDC’s $61 billion circulating supply, Circle is a pure-play bet on the growing stablecoin market.<br>－ Institutional Hype: Major banks like Barclays and Bernstein issued “buy” ratings, with price targets above $200, though some, like JPMorgan, cautioned about overvaluation.</p><p>However, the stock’s 485% surge since its debut has sparked debate. Goldman Sachs and JPMorgan warned of elevated valuations, with price targets of $83 and $80, respectively, suggesting potential downside. Despite this, Circle’s market cap briefly surpassed USDC’s circulating supply, a testament to its meteoric rise.</p><p>&nbsp;</p><h2 class="green-h2">Circle’s Big Bet: A National Trust Bank</h2><p>Fresh off its IPO, Circle announced a bold move on June 30, 2025: applying for a U.S. national trust bank charter with the Office of the Comptroller of the Currency (OCC). If approved, Circle would establish the First National Digital Currency Bank, N.A., to directly manage USDC reserves and offer custody services for institutional clients’ digital assets.</p><p><strong>Why This Matters</strong></p><p>A national trust bank charter would:Enhance USDC’s Credibility:&nbsp;</p><p>－ Federal oversight would align Circle with strict regulatory standards, reinforcing trust in USDC.<br>－ Strengthen Infrastructure: Managing its own reserves would reduce reliance on third parties like BNY Mellon.<br>－ Position Circle as a Leader: Only Anchorage Digital holds a similar charter among crypto firms, giving Circle a competitive edge.<br>－ Boost Adoption: Compliance with the GENIUS Act could make USDC the go-to stablecoin for institutions and retailers.</p><p>The OCC has 120 days to review the application, with a 30-day public comment period. This move could redefine Circle’s role in the financial system, but it’s not without risks—analysts warn of regulatory scrutiny, especially after reports of USDC being used for illicit activities like North Korean sanctions evasion.</p><p>&nbsp;</p><h2 class="green-h2">What’s Next for Circle and USDC?</h2><p>Circle’s IPO and bank charter application signal a turning point for stablecoins. Here’s what to watch:</p><p>－ Regulatory Clarity: If the GENIUS Act passes the House, stablecoins could become mainstream, with Circle as a key beneficiary.<br>－ Stock Volatility: CRCL’s wild ride (up 800% at one point, then a 25% weekly drop) suggests more turbulence ahead.<br>－ Competition: Tether’s USDT, with a $156.4 billion market cap, remains the dominant stablecoin, and new players like Meta’s ≋USD could challenge USDC.<br>－ Innovation: Circle’s new Circle Gateway tool simplifies USDC use across blockchains, potentially driving adoption.</p><p>&nbsp;</p><h2 class="green-h2">How to Get Started with USDC</h2><p>Ready to dive into USDC? Here’s a quick guide:</p><p>－ Choose a Wallet: Use a crypto wallet like MetaMask or Coinbase Wallet that supports USDC.<br>－ Buy USDC: Purchase USDC on exchanges like Coinbase, Binance, or Kraken using USD or other cryptocurrencies.<br>－ Explore Use Cases: Use USDC for trading, DeFi (e.g., lending on Aave), or cross-border payments.<br>－ Store Securely: Keep your USDC in a secure wallet or consider hardware wallets for long-term storage.<br>－ Stay Informed: Follow Circle’s updates on X or their official blog for news on USDC and CRCL.</p><p>&nbsp;</p><h2 class="green-h2">The Bottom Line: Is CRCL a Buy?</h2><p>Circle’s IPO and USDC’s growth have made it a darling of Wall Street and crypto enthusiasts alike. The company’s push to become a national trust bank and its alignment with U.S. regulations position it for long-term success. However, CRCL’s lofty valuation and competition from Tether and others introduce risks.</p><p>For crypto fans, USDC is a reliable stablecoin with growing utility. For investors, CRCL offers exposure to the stablecoin boom but comes with volatility. As Jim Cramer noted, “Circle’s a solid company, but the stock’s gotten too hot for me.” Whether you’re trading USDC or eyeing CRCL shares, stay sharp and keep an eye on regulatory developments.</p><p>&nbsp;</p><p style="text-align:center;">UD is a leading blockchain and network security solution provider in Hong Kong<br>We are dedicated to assisting enterprises in advancing their businesses through innovative blockchain technology, ushering from Web 2.0 to Web 3.0</p><div class="raw-html-embed"><a id="productEnquiryBtn" class="normal" data-cta="Service-Enquiry" href="https://www.ud.hk/en/blockchain-consulting-services">Consult Experts</a></div><p><br>&nbsp;&nbsp;</p>

Unpacking USDC and Circle’s Explosive CRCL IPO: The Stablecoin Revolution Hits Wall Street

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</div></div><p>&nbsp;</p><p>稳定币正在改变我们对数位时代货币的看法，其中 USDC 无疑是一颗耀眼的明星。由 Circle 发行的 USDC 已成为加密货币市场的基石，而 Circle 最近以 CRCL 代码在纽约证券交易所上市的首次公开募股（IPO）更是震惊了加密货币与传统金融界。本文将深入解析 USDC 的本质、Circle IPO 的重大意义，以及这对数位货币未来的影响。无论你是加密货币新手还是资深交易者，这篇指南将为你提供全面的洞察。</p><p>&nbsp;</p><h2 class="green-h2">什麽是 USDC？</h2><p>稳定币的强者USDC（USD Coin）是一种与美元 1:1 挂钩的稳定币，旨在为波动剧烈的加密货币市场提供稳定性。Circle 于 2018 年推出 USDC，让用户能在区块链上快速、安全地转移资金，无需面对比特币或以太坊等加密货币的价格剧烈波动。可以将 USDC 视为区块链上的数位美元，非常适合用于交易、支付和去中心化金融（DeFi）应用。</p><p>&nbsp;</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><p>&nbsp;</p><h2 class="green-h2">USDC 的运作原理</h2><p>USDC 由现金、短期美国国库券和其他流动资产作为储备支持，确保其价值接近 1 美元。这些储备由贝莱德（BlackRock）等信誉良好的机构管理，并由纽约梅隆银行（BNY Mellon）负责保管，定期进行审计以确保透明度。截至 2025 年 7 月，USDC 的流通供应量已超过 610 亿美元，成为仅次于泰达币（USDT）的第二大稳定币。</p><p>USDC 的优势包括：</p><p>－ 稳定性：与美元挂钩，是加密货币交易者的避风港。<br>－ 透明度：Circle 定期发布储备金证明报告。<br>－ 多功能性：USDC 可在以太坊、Solana 和 Avalanche 等多个区块链上运行，应用范围广泛。<br>－ 机构吸引力：其合规性使其深受企业和机构投资者青睐。</p><p>&nbsp;</p><h2 class="green-h2">Circle：USDC 背后的公司</h2><p>总部位于波士顿的金融科技公司 Circle Internet Group 是 USDC 的发行方，也是连接传统金融与加密货币的领导者。成立于 2013 年，Circle 专注于打造一个受监管的数位货币平台。其旗舰产品 USDC 已佔据稳定币市场 25% 的份额，得益于美国参议院通过的《GENIUS 法案》等亲加密货币立法。</p><p>Circle 的使命是在互联网上建立一个无缝、透明的金融系统。正如首席执行官 Jeremy Allaire 所说：「Circle 一直致力于秉持最高的信任、透明度、治理和合规标准。」这一承诺使 Circle 在加密货币和传统市场中赢得了信任。</p><p>&nbsp;</p><h2 class="green-h2">CRCL IPO：加密货币的里程碑</h2><p>2025 年 6 月 5 日，Circle 在纽约证券交易所以 CRCL 代码上市，筹资 11 亿美元，成为近年来最受追捧的 IPO 之一，认购倍数高达 25 倍。IPO 定价为每股 31 美元，但股价随即飙升，最高达到 299 美元，截至 6 月 30 日稳定在 181.29 美元左右，市值约 437.5 亿美元。</p><p>这场火爆的首秀反映了投资者对稳定币的狂热，推动因素包括：</p><p>－ 监管顺风：美国参议院的《GENIUS 法案》为加密货币创造了友好的监管环境，提升了对 USDC 未来的信心。<br>－ 市场需求：USDC 流通供应量达 610 亿美元，Circle 成为稳定币市场的纯粹投资标的。<br>－ 机构热捧：巴克莱银行和伯恩斯坦等主要银行给予「买入」评级，目标价超过 200 美元，儘管摩根大通警告估值过高。</p><p>然而，CRCL 股价自上市以来上涨 485%，引发了估值争议。高盛和摩根大通分别将目标价定为 83 美元和 80 美元，暗示可能存在下行风险。儘管如此，Circle 的市值一度超过 USDC 的流通供应量，显示其惊人涨势。</p><p>&nbsp;</p><h2 class="green-h2">Circle 的大胆计划：申请成为国家信託银行</h2><p>IPO 成功后，Circle 于 2025 年 6 月 30 日宣布申请美国货币监理署（OCC）的国家信託银行执照。如果获得批准，Circle 将成立「第一国家数位货币银行」，直接管理 USDC 储备并为机构客户提供数位资产託管服务。</p><p>为什麽这很重要？</p><p>国家信託银行执照将带来以下影响：<br>－ 提升 USDC 公信力：联邦监管将使 Circle 符合严格标准，进一步增强 USDC 的信任度。<br>－ 强化基础设施：自行管理储备将减少对纽约梅隆银行等第三方的依赖。<br>－ 确立领导地位：目前仅 Anchorage Digital 拥有类似执照，Circle 将获得竞争优势。<br>－ 促进採用：符合《GENIUS 法案》的合规性可能使 USDC 成为机构和零售商的首选稳定币。</p><p>OCC 将在 120 天内审查申请，并开放 30 天的公众评论期。此举可能重新定义 Circle 在金融系统中的角色，但也面临风险，例如监管审查加剧，尤其是在有报导称 USDC 被用于北韩规避制裁等非法活动后</p><p>&nbsp;</p><h2 class="green-h2">Circle 与 USDC 的下一步</h2><p>Circle 的 IPO 和银行执照申请标誌着稳定币的转捩点。以下是需要关注的重点：</p><p>－ 监管进展：若《GENIUS 法案》在众议院通过，稳定币可能成为主流，Circle 将是主要受益者。<br>－ 股价波动：CRCL 股价曾一度上涨 800%，但最近一周下跌 25%，预示未来仍将震盪。<br>－ 竞争压力：泰达币（USDT）以 1564 亿美元的市值领跑稳定币市场，Meta 的 ≋USD 等新竞争者也可能挑战 USDC。<br>－ 创新推动：Circle 推出的 Circle Gateway 工具简化了跨区块链使用 USDC 的流程，可能进一步推广应用。</p><p>&nbsp;</p><h2 class="green-h2">如何开始使用 USDC</h2><p>准备好体验 USDC 了吗？以下是简单入门指南：</p><p>－ 选择钱包：使用支援 USDC 的加密货币钱包，如 MetaMask 或 Coinbase Wallet。<br>－ 购买 USDC：在 Coinbase、Binance 或 Kraken 等交易所使用美元或其他加密货币购买 USDC。<br>－ 探索应用：使用 USDC 进行交易、参与 DeFi（例如在 Aave 上借贷）或跨境支付。<br>－ 安全储存：将 USDC 存放在安全钱包中，长期持有可考虑硬体钱包。<br>－ 保持更新：在 X 平台或 Circle 官方博客关注 USDC 和 CRCL 的最新消息。</p><p>&nbsp;</p><h2 class="green-h2">CRCL 值得投资吗？</h2><p>Circle 的 IPO 和 USDC 的成长使其成为华尔街和加密货币爱好者的焦点。公司申请成为国家信託银行并与美国监管保持一致，为长期成功奠定了基础。然而，CRCL 的高估值以及来自泰达币等竞争对手的压力也带来风险。</p><p>对加密货币爱好者来说，USDC 是一个可靠且用途广泛的稳定币。对投资者而言，CRCL 提供了参与稳定币热潮的机会，但需警惕波动性。正如 Jim Cramer 所说：「Circle 是一家稳健的公司，但股价对我来说太热了。」无论你是交易 USDC 还是考虑投资 CRCL，请保持敏锐并关注监管动态。</p><p>&nbsp;</p><p style="text-align:center;"><span style="color:#3C3C3C;">UD 是香港领先区块链及网络安全方案供应商</span><br><span style="color:#3C3C3C;">致力助不同的企业通过创新区块链技术进一步发展业务，从 Web 2.0 向 Web 3.0 的新时代迈进</span></p><div class="raw-html-embed"><a id="productEnquiryBtn" class="normal" data-cta="Service-Enquiry" href="https://www.ud.hk/sc/blockchain-consulting-services">谘询专家</a></div><p><br>&nbsp;</p>

稳定币革命席捲华尔街：揭秘 USDC 与 Circle 的 CRCL IPO

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</div></div><p>&nbsp;</p><p>穩定幣正在改變我們對數位時代貨幣的看法，其中 USDC 無疑是一顆耀眼的明星。由 Circle 發行的 USDC 已成為加密貨幣市場的基石，而 Circle 最近以 CRCL 代碼在紐約證券交易所上市的首次公開募股（IPO）更是震驚了加密貨幣與傳統金融界。本文將深入解析 USDC 的本質、Circle IPO 的重大意義，以及這對數位貨幣未來的影響。無論你是加密貨幣新手還是資深交易者，這篇指南將為你提供全面的洞察。</p><p>&nbsp;</p><h2 class="green-h2">什麼是 USDC？</h2><p>穩定幣的強者USDC（USD Coin）是一種與美元 1:1 掛鉤的穩定幣，旨在為波動劇烈的加密貨幣市場提供穩定性。Circle 於 2018 年推出 USDC，讓用戶能在區塊鏈上快速、安全地轉移資金，無需面對比特幣或以太坊等加密貨幣的價格劇烈波動。可以將 USDC 視為區塊鏈上的數位美元，非常適合用於交易、支付和去中心化金融（DeFi）應用。</p><p>&nbsp;</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><p>&nbsp;</p><h2 class="green-h2"><span style="color:#28AA2E;"><strong>USDC 的運作原理</strong></span></h2><p>USDC 由現金、短期美國國庫券和其他流動資產作為儲備支持，確保其價值接近 1 美元。這些儲備由貝萊德（BlackRock）等信譽良好的機構管理，並由紐約梅隆銀行（BNY Mellon）負責保管，定期進行審計以確保透明度。截至 2025 年 7 月，USDC 的流通供應量已超過 610 億美元，成為僅次於泰達幣（USDT）的第二大穩定幣。</p><p>USDC 的優勢包括：</p><p>－ 穩定性：與美元掛鉤，是加密貨幣交易者的避風港。<br>－ 透明度：Circle 定期發布儲備金證明報告。<br>－ 多功能性：USDC 可在以太坊、Solana 和 Avalanche 等多個區塊鏈上運行，應用範圍廣泛。<br>－ 機構吸引力：其合規性使其深受企業和機構投資者青睞。</p><p>&nbsp;</p><h2 class="green-h2">Circle：USDC 背後的公司</h2><p>總部位於波士頓的金融科技公司 Circle Internet Group 是 USDC 的發行方，也是連接傳統金融與加密貨幣的領導者。成立於 2013 年，Circle 專注於打造一個受監管的數位貨幣平台。其旗艦產品 USDC 已佔據穩定幣市場 25% 的份額，得益於美國參議院通過的《GENIUS 法案》等親加密貨幣立法。</p><p>Circle 的使命是在互聯網上建立一個無縫、透明的金融系統。正如首席執行官 Jeremy Allaire 所說：「Circle 一直致力於秉持最高的信任、透明度、治理和合規標準。」這一承諾使 Circle 在加密貨幣和傳統市場中贏得了信任。</p><p>&nbsp;</p><h2 class="green-h2">CRCL IPO：加密貨幣的里程碑</h2><p>2025 年 6 月 5 日，Circle 在紐約證券交易所以 CRCL 代碼上市，籌資 11 億美元，成為近年來最受追捧的 IPO 之一，認購倍數高達 25 倍。IPO 定價為每股 31 美元，但股價隨即飆升，最高達到 299 美元，截至 6 月 30 日穩定在 181.29 美元左右，市值約 437.5 億美元。</p><p>這場火爆的首秀反映了投資者對穩定幣的狂熱，推動因素包括：</p><p>－ 監管順風：美國參議院的《GENIUS 法案》為加密貨幣創造了友好的監管環境，提升了對 USDC 未來的信心。<br>－ 市場需求：USDC 流通供應量達 610 億美元，Circle 成為穩定幣市場的純粹投資標的。<br>－ 機構熱捧：巴克萊銀行和伯恩斯坦等主要銀行給予「買入」評級，目標價超過 200 美元，儘管摩根大通警告估值過高。</p><p>然而，CRCL 股價自上市以來上漲 485%，引發了估值爭議。高盛和摩根大通分別將目標價定為 83 美元和 80 美元，暗示可能存在下行風險。儘管如此，Circle 的市值一度超過 USDC 的流通供應量，顯示其驚人漲勢。</p><p>&nbsp;</p><h2 class="green-h2">Circle 的大膽計劃：申請成為國家信託銀行</h2><p>IPO 成功後，Circle 於 2025 年 6 月 30 日宣布申請美國貨幣監理署（OCC）的國家信託銀行執照。如果獲得批准，Circle 將成立「第一國家數位貨幣銀行」，直接管理 USDC 儲備並為機構客戶提供數位資產託管服務。</p><p><strong>為什麼這很重要？</strong></p><p>國家信託銀行執照將帶來以下影響：<br>－ 提升 USDC 公信力：聯邦監管將使 Circle 符合嚴格標準，進一步增強 USDC 的信任度。<br>－ 強化基礎設施：自行管理儲備將減少對紐約梅隆銀行等第三方的依賴。<br>－ 確立領導地位：目前僅 Anchorage Digital 擁有類似執照，Circle 將獲得競爭優勢。<br>－ 促進採用：符合《GENIUS 法案》的合規性可能使 USDC 成為機構和零售商的首選穩定幣。</p><p>OCC 將在 120 天內審查申請，並開放 30 天的公眾評論期。此舉可能重新定義 Circle 在金融系統中的角色，但也面臨風險，例如監管審查加劇，尤其是在有報導稱 USDC 被用於北韓規避制裁等非法活動後</p><p>&nbsp;</p><h2 class="green-h2">Circle 與 USDC 的下一步</h2><p>Circle 的 IPO 和銀行執照申請標誌著穩定幣的轉捩點。以下是需要關注的重點：</p><p>－ 監管進展：若《GENIUS 法案》在眾議院通過，穩定幣可能成為主流，Circle 將是主要受益者。<br>－ 股價波動：CRCL 股價曾一度上漲 800%，但最近一周下跌 25%，預示未來仍將震盪。<br>－ 競爭壓力：泰達幣（USDT）以 1564 億美元的市值領跑穩定幣市場，Meta 的 ≋USD 等新競爭者也可能挑戰 USDC。<br>－ 創新推動：Circle 推出的 Circle Gateway 工具簡化了跨區塊鏈使用 USDC 的流程，可能進一步推廣應用。</p><p>&nbsp;</p><h2 class="green-h2">如何開始使用 USDC</h2><p>準備好體驗 USDC 了嗎？以下是簡單入門指南：</p><p>－ 選擇錢包：使用支援 USDC 的加密貨幣錢包，如 MetaMask 或 Coinbase Wallet。<br>－ 購買 USDC：在 Coinbase、Binance 或 Kraken 等交易所使用美元或其他加密貨幣購買 USDC。<br>－ 探索應用：使用 USDC 進行交易、參與 DeFi（例如在 Aave 上借貸）或跨境支付。<br>－ 安全儲存：將 USDC 存放在安全錢包中，長期持有可考慮硬體錢包。<br>－ 保持更新：在 X 平台或 Circle 官方博客關注 USDC 和 CRCL 的最新消息。</p><p>&nbsp;</p><h2 class="green-h2">CRCL 值得投資嗎？</h2><p>Circle 的 IPO 和 USDC 的成長使其成為華爾街和加密貨幣愛好者的焦點。公司申請成為國家信託銀行並與美國監管保持一致，為長期成功奠定了基礎。然而，CRCL 的高估值以及來自泰達幣等競爭對手的壓力也帶來風險。</p><p>對加密貨幣愛好者來說，USDC 是一個可靠且用途廣泛的穩定幣。對投資者而言，CRCL 提供了參與穩定幣熱潮的機會，但需警惕波動性。正如 Jim Cramer 所說：「Circle 是一家穩健的公司，但股價對我來說太熱了。」無論你是交易 USDC 還是考慮投資 CRCL，請保持敏銳並關注監管動態。</p><p>&nbsp;</p><p style="text-align:center;"><span style="color:#3C3C3C;">UD 是香港領先區塊鏈及網絡安全方案供應商</span><br><span style="color:#3C3C3C;">致力助不同的企業通過創新區塊鏈技術進一步發展業務，從 Web 2.0 向 Web 3.0 的新時代邁進</span></p><div class="raw-html-embed"><a id="productEnquiryBtn" class="normal" data-cta="Service-Enquiry" href="https://www.ud.hk/tc/blockchain-consulting-services">諮詢專家</a></div><p>&nbsp;</p><p>&nbsp;</p>

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