<p>
	The Economic Digest interviewed the Head of Technical Development of UDomain, Mr. Eric FAN on 3 common internet problems that SMEs usually faced or neglected.&nbsp; In addition, Eric shared smart tips on embracing new digital world and challenges.</p>
<p>
	The feature story was published in supplement of the Economic Digest (23-29 September 2017, Issue 1873) in Chinese, please click below picture for details or watch <a href="http://www.edigest.hk/tvchannel/channel.php/view/61/144">the interview video</a>.&nbsp;</p>
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	<a href="/cms_images/EDCS1873_2017中小企最佳營商夥伴_UDomain Web_FINAL.jpg" target="_blank"><img alt="" class="img-responsive img-center" src="/cms_images/EDCS1873_2017中小企最佳營商夥伴_UDomain Web_FINAL.jpg" style="width: 450px; height: 283px;" /></a></p>


<p>
	《经济一周》访问 UDomain 的科技发展部总监范健文先生，有关中小企经常面对或忽略的三大网络问题，并分享该如何布署以迎接互联网新商机及攻击。</p>
<p>
	专访载于《经济一周》第1873期 (2017年9月23-29日)&nbsp;随书附送之特刋内，可点击以下图片浏览详情或<a href="http://www.edigest.hk/tvchannel/channel.php/view/61/144">观看影片</a>。</p>
<p>
	&nbsp;</p>
<p style="text-align: center;">
	<a href="/cms_images/EDCS1873_2017中小企最佳營商夥伴_UDomain Web_FINAL.jpg" target="_blank"><img alt="" class="img-responsive img-center" src="/cms_images/EDCS1873_2017中小企最佳營商夥伴_UDomain Web_FINAL.jpg" style="width: 450px; height: 283px;" /></a></p>


<p>
	《經濟一週》訪問 UDomain 的科技發展部總監范健文先生，有關中小企經常面對或忽略的三大網絡問題，並分享該如何佈署以迎接互聯網新商機及攻擊。</p>
<p>
	專訪載於《經濟一週》第1873期 (2017年9月23-29日)&nbsp;隨書附送之特刋內，可點擊以下圖片瀏覽詳情或<a href="http://www.edigest.hk/tvchannel/channel.php/view/61/144">觀看影片</a>。</p>
<p style="text-align: center;">
	<a href="/cms_images/EDCS1873_2017中小企最佳營商夥伴_UDomain Web_FINAL.jpg" target="_blank"><img alt="" class="img-responsive img-center" src="/cms_images/EDCS1873_2017中小企最佳營商夥伴_UDomain Web_FINAL.jpg" style="width: 450px; height: 283px;" /></a></p>


Interviewed by Economic Digest – Managed Security Services

经济一周访问 - UDomain 网络安全管理服务

經濟一週訪問 - UDomain 網絡安全管理服務

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</div></div><p>&nbsp;</p><p>Welcome to the world of Web3, a landscape brimming with innovation, disruption, and a fair share of complexity. If you’ve spent any time in this space, you've undoubtedly heard the name "XRP." It’s a digital asset that evokes strong opinions—celebrated by its supporters for its speed and efficiency, and scrutinized by critics over its ties to the company Ripple and its long-standing legal battles.</p><p>But XRP is more than just another cryptocurrency. Its journey is a fascinating case study that sits at the very heart of one of the most pressing issues in the entire digital asset industry: <strong>regulatory clarity</strong>.</p><p>Whether you're a developer, an investor, or a business leader looking to understand the future of digital finance, grasping what XRP is and why its legal saga matters is crucial. This article will serve as your comprehensive guide. We’ll break down the fundamentals in a tutorial-style format and then explore the intricate relationship between XRP and the evolving world of Web3 legislation.</p><p>&nbsp;</p><h2 class="green-h2" style="margin-left:0px;">Part 1: The Fundamentals - What Exactly Is XRP?</h2><p>To understand the regulatory story, we first need to get the technology straight. Many newcomers confuse XRP with Ripple, or think it's just another version of Bitcoin. Let's clear that up.</p><h3 style="margin-left:0px;">Demystifying the Core Triad: Ripple, the XRP Ledger (XRPL), and XRP</h3><p>Understanding XRP requires you to see it as one part of a three-piece puzzle. These three components are distinct but interconnected:</p><p>The key takeaway is this: <strong>Ripple is a company that uses the XRP Ledger and the digital asset XRP in some of its products, but it does not control the decentralized XRPL itself.</strong> This distinction is at the core of the legal and philosophical debates surrounding it.</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><h3 style="margin-left:0px;">How Does the XRP Ledger Work? A Quick Look Under the Hood</h3><p>The XRP Ledger operates differently from Bitcoin or Ethereum. It doesn’t use Proof-of-Work (mining) or Proof-of-Stake (staking). Instead, it uses a unique consensus protocol called the <strong>XRP Ledger Consensus Protocol</strong>.</p><p>Here’s a simplified breakdown:</p><p>These features weren't chosen by accident. They were specifically designed to support the primary use case of XRP: payments.</p><h3 style="margin-left:0px;">Key Use Cases: What is XRP Designed For?</h3><p>While the XRP Ledger can support various functions like tokenization and even DeFi, its "killer app" has always been focused on revolutionizing <strong>cross-border payments</strong>.</p><p><strong>1. The Problem: Traditional International Payments are Broken</strong></p><p>Imagine a small business in the U.S. needs to pay a supplier in the Philippines. Using the traditional banking system (like SWIFT), this process is:</p><p><strong>2. The Solution: On-Demand Liquidity (ODL)</strong></p><p>This is where Ripple's flagship product, <strong>On-Demand Liquidity (ODL)</strong>, comes in, using XRP as a bridge currency.</p><p>Here’s how it works:</p><p>The entire process can happen in under a minute. The key benefit? Neither institution had to pre-fund accounts with foreign currency. XRP acts as a neutral, "on-demand" bridge between any two currencies, freeing up capital and dramatically lowering costs.</p><p>This specific, business-focused use case is what makes XRP stand out, but it’s also what drew the intense gaze of financial regulators.</p><hr><h2 class="green-h2" style="margin-left:0px;">Part 2: The Legal Labyrinth - XRP and the Fight for Regulatory Clarity</h2><p>Now that we have a solid technical foundation, let's move to the main event: the clash between innovation and regulation, with XRP at its epicenter.</p><h3 style="margin-left:0px;">The Elephant in the Room: The SEC vs. Ripple Lawsuit</h3><p>In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs and two of its executives. This wasn't just another enforcement action; it was a bombshell that sent shockwaves through the entire crypto industry.</p><p><strong>The Core of the Conflict: Is XRP an "Investment Contract" (a Security)?</strong></p><p>The SEC's central claim was that XRP is, and has always been, an <strong>unregistered security</strong>. In the U.S., assets classified as "securities" are subject to strict disclosure and registration rules designed to protect investors. To determine if something is a security, the courts use a framework from a 1946 Supreme Court case known as the <strong>Howey Test</strong>.</p><p>The Howey Test defines an "investment contract" as a transaction where:</p><h3 style="margin-left:0px;">The Landmark Ruling (and Its Crucial Nuances)</h3><p>After years of legal sparring, on July 13, 2023, Judge Analisa Torres delivered a landmark summary judgment that provided a nuanced—and widely celebrated—outcome for the crypto industry.</p><p>The ruling was not a simple "win" or "loss." Instead, the Judge split her decision based on <i>how</i> XRP was sold:</p><h3 style="margin-left:0px;">Why This Case is a Bellwether for All of Web3</h3><p>The Ripple ruling was more than just a verdict on XRP. It was the first time a U.S. court provided a legal framework for analyzing how a digital asset might be a security in one context and not in another.</p><p>The XRP case serves as a live, high-stakes test for how the world's largest economy will ultimately treat digital assets.</p><hr><h2 class="green-h2" style="margin-left:0px;">Part 3: The Bigger Picture - Global Web3 Legislation and XRP's Place</h2><p>The regulatory story doesn't end in the United States. In fact, Ripple has long maintained a "global-first" strategy, precisely because of the regulatory uncertainty at home. Understanding this global landscape is key to seeing the future of Web3.</p><h3 style="margin-left:0px;">The U.S. Legislative Landscape: Playing Catch-Up</h3><p>While the courts provide some clarity, the ultimate solution in the U.S. must come from Congress. Several bipartisan bills are in various stages of discussion, aiming to create a comprehensive regulatory framework. Key proposals include:</p><p>XRP, with its partial legal victory and its clear use case in payments, is well-positioned to fit into a future framework where digital assets used for utility (like payments) are treated differently from those sold purely for speculation.</p><h3 style="margin-left:0px;">Europe's MiCA Framework: A Proactive Approach</h3><p>In stark contrast to the U.S., the European Union has taken a proactive and comprehensive approach with its <strong>Markets in Crypto-Assets (MiCA)</strong> regulation.</p><p>MiCA creates a single, harmonized regulatory framework across all 27 EU member states. It provides clear rules for crypto-asset issuers, exchanges, and wallet providers. Instead of "regulation by enforcement," MiCA offers a clear path to licensing and compliance.</p><p>For a project like XRP, MiCA is a breath of fresh air. It provides the kind of regulatory certainty that businesses crave. Because XRP is not considered a security in many jurisdictions and has a proven use case, it can operate with much greater confidence within the EU's clear guidelines. Ripple has already secured licenses in places like Ireland, preparing for this new reality.</p><h3 style="margin-left:0px;">Asia and the Middle East: Embracing Innovation</h3><p>Jurisdictions like <strong>Singapore, Japan, and the United Arab Emirates (specifically Dubai)</strong> have also moved much faster than the U.S. They see Web3 and digital assets as a source of economic innovation and are competing to become global crypto hubs.</p><p>Ripple has established major offices and partnerships in these regions, particularly in Dubai and Singapore, leveraging their regulatory clarity to expand its ODL network where it's needed most—in the cross-border payment corridors of Asia and the Middle East.</p><h2 class="green-h2" style="margin-left:0px;">&nbsp;</h2><h2 class="green-h2" style="margin-left:0px;">The Road Ahead: A Future Forged by Technology and Law</h2><p>So, what have we learned?</p><p>XRP is not just a token; it's a specialized tool powered by a fast and efficient blockchain, the XRP Ledger, and championed by a company, Ripple, focused on solving a real-world problem in global finance.</p><p>More importantly, XRP's journey through the U.S. legal system and its strategic positioning across the globe make it a microcosm of the entire Web3 industry's evolution. Its story highlights the critical tension between permissionless innovation and the need for regulatory frameworks that protect consumers and foster stable markets.</p><p>The landmark SEC ruling provided a glimmer of hope for a more nuanced approach in the U.S., while frameworks like MiCA in Europe show that clarity is not only possible but beneficial. As these legal and regulatory structures solidify, digital assets with clear utility—like XRP's role in payments—are arguably the best-positioned to thrive.</p><p>The future of Web3 will not be written by code alone. It will be forged in the crucible where technology, law, and global economics meet. By understanding the story of XRP, you gain a powerful lens through which to view that future.</p><hr><p><strong>Looking to integrate robust, future-proof blockchain solutions into your business? The regulatory landscape can be complex, but the opportunities are immense. Contact Us Today to explore how our expertise can help you navigate the world of Web3 and unlock its transformative potential.</strong></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 Ultimate Guide to XRP: Navigating the Coin, the Company, and the Coming Wave of Web3 Regulation

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</div></div><p>&nbsp;</p><p>欢迎来到 Web3 的世界——这是一个充满创新、颠覆性，同时也相当复杂的领域。如果您曾在这个领域稍作停留，那么您无疑听过“XRP”这个名字。它是一种能引发强烈反响的数字资产——其支持者称赞它的速度和效率，而批评者则对其与 Ripple 公司的关系及其长期的法律战提出质疑。</p><p>但 XRP 不仅仅是另一种加密货币。它的发展历程是一个引人入胜的案例研究，恰恰触及了整个数字资产行业中最迫切的问题之一：<strong>监管的清晰度</strong>。</p><p>无论您是开发者、投资者，还是希望了解数字金融未来的商业领袖，掌握 XRP 是什么，以及为何其法律纠纷如此重要，都是至关重要的。本文将成为您的全面指南。我们将以教程的风格剖析其基础知识，然后探讨 XRP 与不断演变的 Web3 法规之间错综复杂的关系。</p><p>&nbsp;</p><h2 class="green-h2" style="margin-left:0px;">第一部分：基础知识 - XRP 究竟是什么？</h2><p>要理解其监管故事，我们首先需要理清技术层面的概念。许多新手会将 XRP 与 Ripple 混淆，或认为它只是另一种版本的比特币。让我们来澄清这些误解。</p><h3 style="margin-left:0px;">解开核心三要素之谜：Ripple、XRP 账本 (XRPL) 与 XRP</h3><p>要理解 XRP，您需要将其视为一个三位一体谜题中的一部分。这三个组成部分各自独立但又相互关联：</p><p>关键在于：<strong>Ripple 是一家在其部分产品中使用了 XRP 账本和数字资产 XRP 的公司，但它并不控制去中心化的 XRPL 本身。</strong> 这一区别是围绕它的法律和哲学辩论的核心。</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><h3 style="margin-left:0px;">XRP 账本如何运作？一探其内部机制</h3><p>XRP 账本的运作方式与比特币或以太坊不同。它不使用工作量证明（挖矿）或权益证明（质押）。相反，它使用一种独特的共识协议，称为 <strong>XRP 账本共识协议 (XRP Ledger Consensus Protocol)</strong>。</p><p>以下是简化后的运作方式：</p><p>这些特性并非偶然。它们是专门为支持 XRP 的主要应用场景——支付——而设计的。</p><h3 style="margin-left:0px;">主要应用场景：XRP 的设计初衷是什么？</h3><p>虽然 XRP 账本可以支持代币化甚至 DeFi 等多种功能，但其“杀手级应用”始终专注于彻底改变<strong>跨境支付</strong>。</p><p><strong>1. 问题所在：传统的国际支付系统已经过时</strong></p><p>想象一下，一家美国的小企业需要向菲律宾的供应商付款。使用传统的银行系统（如 SWIFT），这个过程会是：</p><p><strong>2. 解决方案：按需流动性 (On-Demand Liquidity, ODL)</strong></p><p>这就是 Ripple 的旗舰产品 <strong>On-Demand Liquidity (ODL)</strong> 发挥作用的地方，它使用 XRP 作为桥梁货币。</p><p>其运作方式如下：</p><p>整个过程可以在一分钟内完成。关键好处是什么？两家机构都无需在账户中预先存入外币。XRP 作为一种中立的、“按需”的桥梁，连接任意两种货币，从而释放资本并显著降低成本。</p><p>这个具体的、以商业为重点的应用场景使 XRP 脱颖而出，但这也正是它吸引金融监管机构密切关注的原因。</p><hr><h2 class="green-h2" style="margin-left:0px;">第二部分：法律迷宫 - XRP 与争取监管清晰度的斗争</h2><p>现在我们有了坚实的技术基础，让我们进入正题：创新与监管的冲突，而 XRP 正处于这场冲突的风眼。</p><h3 style="margin-left:0px;">核心问题：美国证监会 (SEC) vs. Ripple 诉讼案</h3><p>2020 年 12 月，美国证券交易委员会（SEC）对 Ripple Labs 及其两名高管提起诉讼。这不仅仅是另一次执法行动；它是一枚重磅炸弹，在整个加密行业引发了巨大震荡。</p><p><strong>冲突的核心：XRP 是否为“投资合约”（即证券）？</strong></p><p>SEC 的核心主张是，XRP 过去和现在一直都是一种<strong>未注册的证券</strong>。在美国，被归类为“证券”的资产必须遵守严格的信息披露和注册规则，以保护投资者。为了判断某物是否为证券，法院使用了一个源自 1946 年最高法院案例的框架，称为<strong>豪威测试 (Howey Test)</strong>。</p><p>豪威测试将“投资合约”定义为满足以下条件的交易：</p><h3 style="margin-left:0px;">里程碑式的裁决（及其关键的细微之处）</h3><p>经过多年的法律交锋，法官 Analisa Torres 于 2023 年 7 月 13 日作出了一项里程碑式的简易判决，为加密行业带来了一个微妙但广受欢迎的结果。</p><p>这个裁决并非简单的“赢”或“输”。相反，法官根据 XRP 的<i>销售方式</i>作出了区分：</p><h3 style="margin-left:0px;">为何此案对整个 Web3 而言是个风向标？</h3><p>Ripple 的裁决不仅仅是对 XRP 的判决。这是美国法院首次为分析数字资产在何种情况下可能被视为证券，而在另一种情况下则不是，提供了一个法律框架。</p><p>XRP 案就像一场正在进行的高风险测试，考验着世界最大经济体最终将如何对待数字资产。</p><hr><h2 class="green-h2" style="margin-left:0px;">第三部分：宏观格局 - 全球 Web3 法规与 XRP 的定位</h2><p>监管的故事并不止步于美国。事实上，正是由于美国国内的监管不确定性，Ripple 长期以来一直奉行“全球优先”的策略。理解这一全球格局是洞见 Web3 未来的关键。</p><h3 style="margin-left:0px;">美国的立法前景：正在追赶</h3><p>虽然法院提供了一些清晰度，但美国的最终解决方案必须来自国会。几项跨党派法案正处于不同讨论阶段，旨在创建一个全面的监管框架。关键提案包括：</p><p>凭借其部分的法律胜利和在支付领域的明确应用，XRP 处于有利位置，能够融入未来将实用型数字资产（如用于支付的资产）与纯粹用于投机的资产区别对待的框架中。</p><h3 style="margin-left:0px;">欧洲的 MiCA 框架：积极主动的策略</h3><p>与美国形成鲜明对比的是，欧盟采取了积极而全面的方法，推出了其**《加密资产市场法规》(Markets in Crypto-Assets, MiCA)**。</p><p>MiCA 为所有 27 个欧盟成员国创建了一个统一、协调的监管框架。它为加密资产发行商、交易所和钱包提供商提供了明确的规则。MiCA 提供的不是“执法式监管”，而是一条通往许可和合规的清晰路径。</p><p>对于像 XRP 这样的项目来说，MiCA 就像一股清新的空气。它提供了企业所渴求的那种监管确定性。由于 XRP 在许多司法管辖区不被视为证券，并且拥有经过验证的应用场景，因此它可以在欧盟的明确指导方针下更有信心地运营。Ripple 已经在爱尔兰等地获得了许可，为这一新现实做好了准备。</p><h3 style="margin-left:0px;">亚洲与中东：拥抱创新</h3><p>像**新加坡、日本和阿联酋（特别是迪拜）**等司法管辖区的行动也比美国快得多。他们将 Web3 和数字资产视为经济创新的源泉，并竞相成为全球加密中心。</p><p>Ripple 已经与这些地区，特别是在迪拜和新加坡，设立了重要的办事处和合作伙伴关系，利用其监管的清晰度来扩展其 ODL 网络，尤其是在亚洲和中东最需要跨境支付的走廊。</p><h2 style="margin-left:0px;">&nbsp;</h2><h2 class="green-h2" style="margin-left:0px;">未来之路：由科技与法律共同塑造的未来</h2><p>那么，我们学到了什么？</p><p>XRP 不仅仅是一种代币；它是由一个快速高效的区块链——XRP 账本——驱动的专业工具，并由一家专注于解决全球金融实际问题的公司——Ripple——所推动。</p><p>更重要的是，XRP 在美国法律体系中的历程及其在全球的战略布局，使其成为整个 Web3 行业演变的缩影。它的故事凸显了无需许可的创新与保护消费者、培育稳定市场的监管框架需求之间的关键张力。</p><p>具里程碑意义的 SEC 裁决为美国采取更细致的监管方法带来了一线希望，而欧洲的 MiCA 等框架则表明，清晰度不仅是可能的，而且是有益的。随着这些法律和监管结构的巩固，具有明确实用性的数字资产——例如 XRP 在支付中的作用——可以说最有可能蓬勃发展。</p><p>Web3 的未来不会仅由代码书写。它将在科技、法律和全球经济交汇的熔炉中被锻造出来。通过理解 XRP 的故事，您将获得一个强大的视角，用以洞察那个未来。</p><hr><p><strong>正在寻求将稳健、面向未来的区块链解决方案整合到您的业务中吗？监管环境可能很复杂，但机遇是巨大的。[立即联系我们]，探讨我们的专业知识如何帮助您驾驭 Web3 的世界，并释放其变革潜力。</strong></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>

XRP 全面指南：深入解析其代币、公司以及即将到来的 Web3 监管浪潮

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</div></div><p>&nbsp;</p><p>歡迎來到 Web3 的世界——這是一個充滿創新、顛覆性，同時也相當複雜的領域。如果您曾在這個領域稍作停留，那麼您無疑聽過「XRP」這個名字。它是一種能引發強烈迴響的數位資產——其支持者稱讚它的速度和效率，而批評者則對其與 Ripple 公司的關係及其長期的法律戰提出質疑。</p><p>但 XRP 不僅僅是另一種加密貨幣。它的發展歷程是一個引人入勝的案例研究，正正觸及了整個數位資產行業中最迫切的問題之一：<strong>監管的清晰度</strong>。</p><p>無論您是開發者、投資者，還是希望了解數位金融未來的商業領袖，掌握 XRP 是什麼，以及為何其法律傳奇如此重要，都是至關重要的。本文將成為您的全面指南。我們將以教學的風格剖析其基礎知識，然後探討 XRP 與不斷演變的 Web3 法規之間錯綜複雜的關係。</p><p>&nbsp;</p><h2 class="green-h2" style="margin-left:0px;">第一部分：基礎知識 - XRP 究竟是什麼？</h2><p>要理解其監管故事，我們首先需要理清技術層面的概念。許多新手會將 XRP 與 Ripple 混淆，或認為它只是另一種版本的比特幣。讓我們來釐清這些誤解。</p><h3 style="margin-left:0px;">解開核心三要素之謎：Ripple、XRP 帳本 (XRPL) 與 XRP</h3><p>要理解 XRP，您需要將其視為一個三位一體謎題中的一部分。這三個組成部分各自獨立但又相互關聯：</p><p>關鍵在於：<strong>Ripple 是一家在其部分產品中使用了 XRP 帳本和數位資產 XRP 的公司，但它並不控制去中心化的 XRPL 本身。</strong> 這一區別是圍繞它的法律和哲學辯論的核心。</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><h3 style="margin-left:0px;">XRP 帳本如何運作？一探其內部機制</h3><p>XRP 帳本的運作方式與比特幣或以太坊不同。它不使用工作量證明（挖礦）或權益證明（質押）。相反，它使用一種獨特的共識協議，稱為 <strong>XRP 帳本共識協議 (XRP Ledger Consensus Protocol)</strong>。</p><p>以下是簡化後的運作方式：</p><p>這些特性並非偶然。它們是專門為支援 XRP 的主要應用場景——支付——而設計的。</p><h3 style="margin-left:0px;">主要應用場景：XRP 的設計初衷是什麼？</h3><p>雖然 XRP 帳本可以支援代幣化甚至 DeFi 等多種功能，但其「殺手級應用」始終專注於徹底改變<strong>跨境支付</strong>。</p><p><strong>1. 問題所在：傳統的國際支付系統已經過時</strong></p><p>想像一下，一家美國的小企業需要向菲律賓的供應商付款。使用傳統的銀行系統（如 SWIFT），這個過程會是：</p><p><strong>2. 解決方案：按需流動性 (On-Demand Liquidity, ODL)</strong></p><p>這就是 Ripple 的旗艦產品 <strong>On-Demand Liquidity (ODL)</strong> 發揮作用的地方，它使用 XRP 作為橋樑貨幣。</p><p>其運作方式如下：</p><p>整個過程可以在一分鐘內完成。關鍵好處是什麼？兩家機構都無需在帳戶中預先存入外幣。XRP 作為一種中立的、「按需」的橋樑，連接任意兩種貨幣，從而釋放資本並顯著降低成本。</p><p>這個具體的、以商業為重點的應用場景使 XRP 脫穎而出，但這也正是它吸引金融監管機構密切關注的原因。</p><hr><h2 class="green-h2" style="margin-left:0px;">第二部分：法律迷宮 - XRP 與爭取監管清晰度的鬥爭</h2><p>現在我們有了堅實的技術基礎，讓我們進入正題：創新與監管的衝突，而 XRP 正處於這場衝突的風眼。</p><h3 style="margin-left:0px;">房間裡的大象：美國證監會 (SEC) vs. Ripple 訴訟案</h3><p>2020 年 12 月，美國證券交易委員會（SEC）對 Ripple Labs 及其兩名高管提起訴訟。這不僅僅是另一次執法行動；它是一枚重磅炸彈，在整個加密行業引發了巨大震盪。</p><p><strong>衝突的核心：XRP 是否為「投資合約」（即證券）？</strong></p><p>SEC 的核心主張是，XRP 過去和現在一直都是一種<strong>未註冊的證券</strong>。在美國，被歸類為「證券」的資產必須遵守嚴格的資訊披露和註冊規則，以保護投資者。為了判斷某物是否為證券，法院使用了一個源自 1946 年最高法院案例的框架，稱為<strong>豪威測試 (Howey Test)</strong>。</p><p>豪威測試將「投資合約」定義為滿足以下條件的交易：</p><h3 style="margin-left:0px;">里程碑式的裁決（及其關鍵的細微之處）</h3><p>經過多年的法律交鋒，法官 Analisa Torres 於 2023 年 7 月 13 日作出了一項里程碑式的簡易判決，為加密行業帶來了一個微妙但廣受歡迎的結果。</p><p>這個裁決並非簡單的「贏」或「輸」。相反，法官根據 XRP 的<i>銷售方式</i>作出了區分：</p><h3 style="margin-left:0px;">為何此案對整個 Web3 而言是個風向標？</h3><p>Ripple 的裁決不僅僅是對 XRP 的判決。這是美國法院首次為分析數位資產在何種情況下可能被視為證券，而在另一種情況下則不是，提供了一個法律框架。</p><p>XRP 案就像一場正在進行的高風險測試，考驗著世界最大經濟體最終將如何對待數位資產。</p><hr><h2 class="green-h2" style="margin-left:0px;">第三部分：宏觀格局 - 全球 Web3 法規與 XRP 的定位</h2><p>監管的故事並不止步於美國。事實上，正是由於美國國內的監管不確定性，Ripple 長期以來一直奉行「全球優先」的策略。理解這一全球格局是洞見 Web3 未來的關鍵。</p><h3 style="margin-left:0px;">美國的立法前景：正在追趕</h3><p>雖然法院提供了一些清晰度，但美國的最終解決方案必須來自國會。幾項跨黨派法案正處於不同討論階段，旨在創建一個全面的監管框架。關鍵提案包括：</p><p>憑藉其部分的法律勝利和在支付領域的明確應用，XRP 處於有利位置，能夠融入未來將實用型數位資產（如用於支付的資產）與純粹用於投機的資產區別對待的框架中。</p><h3 style="margin-left:0px;">歐洲的 MiCA 框架：積極主動的策略</h3><p>與美國形成鮮明對比的是，歐盟採取了積極而全面的方法，推出了其<strong>《加密資產市場法規》(Markets in Crypto-Assets, MiCA)</strong>。</p><p>MiCA 為所有 27 個歐盟成員國創建了一個統一、協調的監管框架。它為加密資產發行商、交易所和錢包提供商提供了明確的規則。MiCA 提供的不是「執法式監管」，而是一條通往許可和合規的清晰路徑。</p><p>對於像 XRP 這樣的項目來說，MiCA 就像一股清新的空氣。它提供了企業所渴求的那種監管確定性。由於 XRP 在許多司法管轄區不被視為證券，並且擁有經過驗證的應用場景，因此它可以在歐盟的明確指導方針下更有信心地運營。Ripple 已經在愛爾蘭等地獲得了許可，為這一新現實做好了準備。</p><h3 style="margin-left:0px;">亞洲與中東：擁抱創新</h3><p>像**新加坡、日本和阿聯酋（特別是杜拜）**等司法管轄區的行動也比美國快得多。他們將 Web3 和數位資產視為經濟創新的源泉，並競相成為全球加密中心。</p><p>Ripple 已經在這些地區，特別是在杜拜和新加坡，設立了重要的辦事處和合作夥伴關係，利用其監管的清晰度來擴展其 ODL 網絡，尤其是在亞洲和中東最需要跨境支付的走廊。</p><h2 style="margin-left:0px;">&nbsp;</h2><h2 class="green-h2" style="margin-left:0px;">未來之路：由科技與法律共同塑造的未來</h2><p>那麼，我們學到了什麼？</p><p>XRP 不僅僅是一種代幣；它是由一個快速高效的區塊鏈——XRP 帳本——驅動的專業工具，並由一家專注於解決全球金融實際問題的公司——Ripple——所推動。</p><p>更重要的是，XRP 在美國法律體系中的歷程及其在全球的戰略佈局，使其成為整個 Web3 行業演變的縮影。它的故事突顯了無需許可的創新與保護消費者、 fostering 穩定市場的監管框架需求之間的關鍵張力。</p><p>具里程碑意義的 SEC 裁決為美國採取更細緻的監管方法帶來了一線希望，而歐洲的 MiCA 等框架則表明，清晰度不僅是可能的，而且是有益的。隨著這些法律和監管結構的鞏固，具有明確實用性的數位資產——例如 XRP 在支付中的作用——可以說最有可能蓬勃發展。</p><p>Web3 的未來不會僅由代碼書寫。它將在科技、法律和全球經濟交匯的熔爐中被鍛造出來。通過理解 XRP 的故事，您將獲得一個強大的視角，用以洞察那個未來。</p><hr><p><strong>正在尋求將穩健、面向未來的區塊鏈解決方案整合到您的業務中嗎？監管環境可能很複雜，但機遇是巨大的。[立即聯絡我們]，探討我們的專業知識如何幫助您駕馭 Web3 的世界，並釋放其變革潛力。</strong></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>

XRP 全面指南：深入解析其代幣、公司以及即將到來的 Web3 監管浪潮

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</div></div><p>Bitwise investment director Matt Hougan recently made a startling prediction: the Bitcoin bull run might be delayed until 2026, implying the death of the four-year Bitcoin cycle. This prediction immediately sparked heated debate in the market, as other analysts hold differing views on Bitcoin's price trajectory. Some believe Bitcoin will deviate from historical patterns, while others predict it will follow the halving cycle, peaking in the coming months.</p><p>&nbsp;</p><p>Currently, Bitcoin is priced at $118,169, with an increase of over 10% in the past 30 days. In a Friday X video, Hougan stated, "I think 2026 is going to be a year where Bitcoin's price goes up, and we might be in for a good few years." He argues that the traditional four-year halving cycle is invalidated, citing reasons such as the diminishing halving effect (halving impact decreases by half every four years) and favorable interest rate cycles. Since April, US President Trump has continuously pressured Federal Reserve Chairman Powell to cut interest rates, a potential positive for Bitcoin as lower rates reduce the attractiveness of traditional assets like bonds and fixed deposits to investors.</p><p>&nbsp;</p><p>Hougan further points out that the risk of a significant Bitcoin price correction has lessened due to a clearer regulatory environment and continued institutional investment. "The bust risk has diminished because of regulatory improvement and the institutionalization of the industry," he emphasized. He suggests that the early stages of institutional investment and ongoing regulatory processes hint at a higher-than-historical-trend upside potential for Bitcoin within this cycle. He concludes, "The long-term forces favoring Bitcoin will overwhelm the traditional 'four-year cycle' forces, and 2026 will be a good year."</p><p>&nbsp;</p><h3><strong>Bitcoin Bull Run Delayed to 2026, but "Significant Cyclical Risks Remain"</strong></h3><p>&nbsp;</p><p>However, Hougan acknowledges significant cyclical risks remain, primarily stemming from the rise of Bitcoin-holding companies. "This is something to watch, and it's a big deal," he said. Asset management firm VanEck echoed similar concerns, warning that companies accumulating Bitcoin through issuing new shares or taking on debt face extremely high risks, even potential liquidity crunches, during a significant Bitcoin price drop.</p><p>&nbsp;</p><p>Hougan predicts that Bitcoin's price gains will be steady rather than explosive in the short term. "I think this is more of a 'sustained steady boom' than a supercycle," he added. "I could be wrong, and I'm sure there will be significant volatility."</p><p>&nbsp;</p><h3><strong>Analysis: The Bitcoin Four-Year Cycle Theory No Longer Applies</strong></h3><p>&nbsp;</p><p>Hougan's perspective resonates with other recent market players. CryptoQuant CEO Ki Young Ju also believes the Bitcoin four-year cycle theory is "dead." He stated, "My prediction was based on this theory—buy when whales accumulate, sell when retail joins. But this pattern no longer applies. In the last cycle, whales sold to retail; this time, old whales sold to new long-term whales. Institutional investment is bigger than we thought."</p><p>&nbsp;</p><p>However, not all analysts agree. Crypto analyst Rekt Capital cautions that if Bitcoin follows the 2020 historical pattern, its price expansion might only have a few months left, potentially peaking in October (550 days after the April 2024 halving).</p>

Bitcoin's four-year cycle theory is dead?

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</div></div><p>Bitwise投资总监Matt Hougan近日抛出震撼预测：<a href="https://cftime.io/satoshi-nakamoto-ranks-11th-worlds-richest/">比特币</a>暴涨时机可能延后至2026年，这意味着比特币四年周期已死。此预测一出，立即引发市场热议，因其他分析师对于比特币价格走势看法分歧，有人认为比特币将偏离历史模式，也有人预测其将遵循减半周期，在未来几个月达到价格峰值。</p><p>&nbsp;</p><p>目前比特币价格为118,169美元，过去30天升幅逾一成。 Hougan在上周五的<a href="https://x.com/Matt_Hougan/status/1948709817125593227">X影片中明确表示</a>：「我认为2026年将是比特币价格上涨的一年，而且我们可能将迎来持续几年的好光景。」他认为，传统的四年减半周期已失效，原因包括：减半效应每四年递减一半，以及有利的利率周期。自四月以来，美国总统特朗普持续施压联准会主席鲍尔减息，此举被视为比特币的潜在利多，因为低利率将降低债券和定期存款等传统资产对投资人的吸引力。</p><p>&nbsp;</p><p>Hougan进一步指出，随着监管环境日趋明朗，以及机构投资者持续进场，比特币价格大幅回调的风险已降低。 「爆雷风险已减弱，原因在于监管改善和行业的制度化。」他强调，机构投资的早期阶段和持续的监管过程，都暗示比特币在本周期内的上涨潜力可能高于历史趋势。他总结道：「长期有利于比特币的力量将压倒传统『四年周期』力量，2026年将是好年景。」</p><p>&nbsp;</p><h3><strong>比特币暴涨时机延后至2026 惟「仍存在显著的周期性风险」</strong></h3><p>&nbsp;</p><p>然而，Hougan也坦言，比特币仍存在显著的周期性风险，其中最主要来自于比特币库存公司的兴起。 「这值得关注，而且影响重大。」他表示。资产管理公司VanEck也表达了类似的担忧，警告那些透过发行新股或举债累积比特币的公司，在比特币价格大幅下跌时，将面临极高的风险，甚至资金过度紧张。</p><p>&nbsp;</p><p>Hougan预测，比特币价格的涨势短期内将趋于稳定，而非剧烈上涨。 「我认为这更像是『持续稳定的繁荣』，而非超级周期。」他补充道：「我可能错了，而且我确信会有很大的波动性。」</p><h3>&nbsp;</h3><h3><strong>分析：比特币四年周期理论不再适用</strong></h3><p>&nbsp;</p><p>Hougan的观点与近期其他市场人士的看法产生共鸣。 CryptoQuant 行政总监纪永柱也认为比特币四年周期理论「已死」。他表示：「我的预测是基于此理论——鲸鱼累积时买入，散户加入时卖出。但这种模式不再适用。上一轮周期，鲸鱼卖给散户；这次，老鲸鱼卖给新的长期鲸鱼。机构投资的规模比我们想像的还要大。」</p><p>&nbsp;</p><p>然而，并非所有分析师都同意此观点。加密分析师Rekt Capital则警告，如果比特币遵循2020年的历史模式，其价格扩张可能只剩下几个月，并可能在10月份（2024年4月减半后的550天）达到峰值。</p>

比特币四年周期理论「已死」三大关键原因曝光

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</div></div><p>Bitwise投資總監Matt Hougan近日拋出震撼預測：<a href="https://cftime.io/satoshi-nakamoto-ranks-11th-worlds-richest/">比特幣</a>暴漲時機可能延後至2026年，這意味著比特幣四年週期已死。此預測一出，立即引發市場熱議，因其他分析師對於比特幣價格走勢看法分歧，有人認為比特幣將偏離歷史模式，也有人預測其將遵循減半週期，在未來幾個月達到價格峰值。</p><p>&nbsp;</p><p>目前比特幣價格為118,169美元，過去30天升幅逾一成。Hougan在上週五的<a href="https://x.com/Matt_Hougan/status/1948709817125593227">X影片中明確表示</a>：「我認為2026年將是比特幣價格上漲的一年，而且我們可能將迎來持續幾年的好光景。」他認為，傳統的四年減半週期已失效，原因包括：減半效應每四年遞減一半，以及有利的利率週期。自四月以來，美國總統特朗普持續施壓聯準會主席鮑爾減息，此舉被視為比特幣的潛在利多，因為低利率將降低債券和定期存款等傳統資產對投資人的吸引力。</p><p>&nbsp;</p><p>Hougan進一步指出，隨著監管環境日趨明朗，以及機構投資者持續進場，比特幣價格大幅回調的風險已降低。「爆雷風險已減弱，原因在於監管改善和行業的制度化。」他強調，機構投資的早期階段和持續的監管過程，都暗示比特幣在本週期內的上漲潛力可能高於歷史趨勢。他總結道：「長期有利於比特幣的力量將壓倒傳統『四年週期』力量，2026年將是好年景。」</p><p>&nbsp;</p><h3><strong>比特幣暴漲時機延後至2026 惟「仍存在顯著的週期性風險」</strong></h3><p>&nbsp;</p><p>然而，Hougan也坦言，比特幣仍存在顯著的週期性風險，其中最主要來自於比特幣庫存公司的興起。「這值得關注，而且影響重大。」他表示。資產管理公司VanEck也表達了類似的擔憂，警告那些透過發行新股或舉債累積比特幣的公司，在比特幣價格大幅下跌時，將面臨極高的風險，甚至資金過度緊張。</p><p>&nbsp;</p><p>Hougan預測，比特幣價格的漲勢短期內將趨於穩定，而非劇烈上漲。「我認為這更像是『持續穩定的繁榮』，而非超級週期。」他補充道：「我可能錯了，而且我確信會有很大的波動性。」</p><h3>&nbsp;</h3><h3><strong>分析：比特幣四年週期理論不再適用</strong></h3><p>&nbsp;</p><p>Hougan的觀點與近期其他市場人士的看法產生共鳴。CryptoQuant 行政總監紀永柱也認為比特幣四年週期理論「已死」。他表示：「我的預測是基於此理論——鯨魚累積時買入，散戶加入時賣出。但這種模式不再適用。上一輪週期，鯨魚賣給散戶；這次，老鯨魚賣給新的長期鯨魚。機構投資的規模比我們想像的還要大。」</p><p>&nbsp;</p><p>然而，並非所有分析師都同意此觀點。加密分析師Rekt Capital則警告，如果比特幣遵循2020年的歷史模式，其價格擴張可能只剩下幾個月，並可能在10月份（2024年4月減半後的550天）達到峰值。</p>

比特幣四年週期理論「已死」三大關鍵原因曝光

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</div></div><p>&nbsp;</p><h2 class="green-h2" style="margin-left:0px;">Introduction: A New Era for Digital Currency in Hong Kong Has Begun</h2><p>The day has arrived. <strong>August 1, 2025</strong>, marks a watershed moment for the global digital asset industry. The Hong Kong Monetary Authority's (HKMA) landmark regulatory regime for stablecoin issuers is <strong>now officially in effect</strong>.</p><p>The anticipation is over. The discussions, consultations, and sandboxing have culminated in a live, enforceable framework designed to bring trust, stability, and legitimacy to the cornerstone of the Web3 economy: <strong>stablecoins</strong>.</p><p>After the industry-shaking collapses of projects like TerraUSD, the world called for robust guardrails. Hong Kong has answered that call, not with rules that stifle innovation, but with a clear roadmap intended to protect users, stabilize the financial system, and cement its position as the world's pre-eminent Web3 hub.</p><p>This is no longer a theoretical exercise. The rules are active, and the consequences of non-compliance are real. For developers, exchanges, investors, and businesses, understanding how to operate in this new environment is mission-critical.</p><p>In this live guide, we break down what the new reality looks like. We'll cover:</p><p>The future of regulated digital currency is here. Let's navigate it together.</p><hr><h2 class="green-h2" style="margin-left:0px;"><strong>Part 1: The Ordinance in Action — Understanding the New Rulebook</strong></h2><p>As of today, a <strong>mandatory licensing regime for issuers of fiat-referenced stablecoins (FRS)</strong> is the law in Hong Kong. This framework acts as a seal of approval from one of the world's most respected financial regulators, separating the compliant from the cowboys.</p><p>The ordinance is built on four key pillars:</p><h3 style="margin-left:0px;"><strong>The Scope: What's Regulated and What's Not?</strong></h3><p>The rules are precise, targeting issuers of <strong>Fiat-Referenced Stablecoins (FRS)</strong> who market to the Hong Kong public.</p><p>The message is unequivocal: if your stablecoin looks and acts like digital fiat, it must now adhere to the highest standards of a regulated financial instrument.</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><hr><h2 class="green-h2" style="margin-left:0px;"><strong>Part 2: The Immediate Impact — Who is Affected Today?</strong></h2><p>The ripple effects of this ordinance are now being felt across the ecosystem.</p><h3 style="margin-left:0px;"><strong>1. Stablecoin Issuers</strong></h3><p>The change is stark. Operating or actively marketing a fiat-referenced stablecoin to the Hong Kong public without an HKMA license is now a <strong>criminal offense</strong>.</p><h3 style="margin-left:0px;"><strong>2. Virtual Asset Service Providers (VASPs) — Exchanges &amp; Platforms</strong></h3><p>For crypto exchanges licensed by the SFC in Hong Kong, the directive is clear: they <strong>must only offer and trade stablecoins issued by an HKMA-licensed issuer.</strong></p><h3 style="margin-left:0px;"><strong>3. Investors and Everyday Users</strong></h3><p>For you, the end-user, this is a massive upgrade in security and confidence.</p><hr><h2 class="green-h2" style="margin-left:0px;"><strong>Part 3: Operating Under the New Rules: A Practical Guide</strong></h2><p>Theory is over. Here’s how to navigate the landscape as it exists today.</p><h3 style="margin-left:0px;"><strong>For New Issuers: The Path to a License</strong></h3><p>While the ordinance is active, the door is not closed to new entrants. Securing an HKMA license is a demanding but clear process. Any new applicant must prove their worth across several domains:</p><p>The <strong>HKMA's regulatory sandbox</strong> remains a vital tool for dialogue and testing for serious applicants, allowing them to refine their model in communication with the regulator.</p><h3 style="margin-left:0px;"><strong>For Businesses and Developers:</strong></h3><p>Your strategy must now be built around the licensed stablecoin ecosystem.</p><hr><h2 class="green-h2" style="margin-left:0px;"><strong>Part 4: The Big Picture — Hong Kong's Bold Future in Digital Finance</strong></h2><p>With the ordinance now law, Hong Kong is not just participating in the Web3 revolution—it is actively shaping it.</p><h3 style="margin-left:0px;"><strong>1. The Birth of the Trusted HKD Stablecoin</strong></h3><p>The framework is now in place for the emergence of a truly global, trusted, and liquid Hong Kong Dollar (HKD) stablecoin. This is a game-changer for tokenized real-world assets (RWAs), DeFi, and trade finance in Asia, providing a native currency for the digital age.</p><h3 style="margin-left:0px;"><strong>2. A Beacon for Institutional Capital</strong></h3><p>The regulatory clarity provided by the ordinance is precisely what institutional investors have been waiting for. It removes ambiguity and provides a safe, regulated channel for large-scale capital to enter the digital asset market.</p><h3 style="margin-left:0px;"><strong>3. The Competitive Edge</strong></h3><p>By being a first-mover with a comprehensive and credible framework, Hong Kong has established itself as the premier destination for serious FinTech and Web3 projects. It offers what innovators crave most: a large market with clear rules.</p><hr><h2 class="green-h2" style="margin-left:0px;"><strong>Conclusion: A New Chapter is Written</strong></h2><p>The Hong Kong Stablecoin Ordinance is no longer a future promise; it is the present reality. It represents a maturation of the digital asset industry, moving from speculation to utility.</p><p>This new era demands excellence, transparency, and a commitment to user protection. For those ready to build on this foundation of trust, Hong Kong has laid out the welcome mat. The future of finance is being built today, and its blueprint is live in Asia's World City.</p><hr><p><strong>Ready to build on the world's most robust regulatory foundation for digital assets?</strong><br>Our team provides expert guidance on developing compliant, secure, and innovative blockchain solutions.&nbsp;</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;</p>

The Stablecoin Ordinance is Here: Your Live Guide to Hong Kong's New Digital Asset Reality

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</div></div><p>&nbsp;</p><h2 class="green-h2" style="margin-left:0px;"><strong>引言：香港数字货币的新纪元已正式开启</strong></h2><p>这一天终于到来。<strong>2025年8月1日</strong>，是全球数字资产行业的一个分水岭。香港金融管理局（金管局）针对稳定币发行人的里程碑式监管制度<strong>现已正式生效</strong>。</p><p>漫长的期待已经结束。经过多轮咨询、讨论和监管沙盒的测试，一个旨在为Web3经济的基石——<strong>稳定币</strong>——带来信任、稳定性和合法性的、具有执行力的框架，现已全面实施。</p><p>在经历了TerraUSD等项目崩溃的行业震荡后，全球市场都在呼唤强有力的监管护栏。香港对此作出了回应，其推出的并非扼杀创新的规则，而是一张清晰的路线图，旨在保护用户、稳定金融体系，并巩固其作为全球领先Web3枢纽的地位。</p><p>这不再是纸上谈兵。规则已经生效，违规的后果是真实的。对于开发者、交易所、投资者和企业而言，理解如何在这个新环境中运营，是关乎成败的关键任务。</p><p>在这份实战指南中，我们将为您剖析新规之下的现实。我们将涵盖：</p><p>受监管的数字货币未来已至。让我们一同探索前路。</p><hr><h2 class="green-h2" style="margin-left:0px;"><strong>第一部分：条例实践——理解新的游戏规则</strong></h2><p>从今天起，针对<strong>法币参考稳定币（FRS）发行人的强制性牌照制度</strong>已成为香港的法律。此框架如同全球最受尊敬的金融监管机构之一所颁发的认证，旨在将合规者与“野蛮生长”的经营者区分开来。</p><p>该条例建立在四大支柱之上：</p><h3 style="margin-left:0px;"><strong>监管范围：哪些纳入，哪些豁免？</strong></h3><p>规则的界定非常精确，主要针对向香港公众推广的**法币参考稳定币（FRS）**发行人。</p><p>信息非常明确：如果您的稳定币在功能和性质上类似数字法币，它现在就必须遵守受监管金融工具的最高标准。</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><hr><h2 class="green-h2" style="margin-left:0px;"><strong>第二部分：即时影响——今天谁会受到影响？</strong></h2><p>此条例的涟漪效应现已在整个生态系统中显现。</p><h3 style="margin-left:0px;"><strong>1. 稳定币发行人</strong></h3><p>变化是显著的。在未持有金管局牌照的情况下，向香港公众运营或积极推广法币参考稳定币，现已构成<strong>刑事罪行</strong>。</p><h3 style="margin-left:0px;"><strong>2. 虚拟资产服务提供商 (VASP) — 交易所与平台</strong></h3><p>对于已获香港证监会发牌的加密货币交易所而言，指令非常清晰：它们<strong>只能上架和交易由金管局持牌发行人所发行的稳定币</strong>。</p><h3 style="margin-left:0px;"><strong>3. 投资者与日常用户</strong></h3><p>对您这位终端用户而言，这在安全与信心上是一次重大升级。</p><hr><h2 class="green-h2" style="margin-left:0px;"><strong>第三部分：新规下的运营：实用指南</strong></h2><p>理论探讨结束。以下是如何在今日的现实环境中航行。</p><h3 style="margin-left:0px;"><strong>对新发行人而言：牌照申请之路</strong></h3><p>尽管条例已生效，但对新进入者的大门并未关闭。获取金管局牌照是一个严格但清晰的过程。任何新申请者必须在多个领域证明其实力：</p><p><strong>金管局的监管沙盒</strong>对认真的申请者而言，仍然是一个进行对话和测试的重要工具，让他们能在与监管机构的沟通中完善其模式。</p><h3 style="margin-left:0px;"><strong>对企业和开发者而言：</strong></h3><p>您的战略现在必须围绕持牌稳定币生态系统来构建。</p><hr><h2 class="green-h2" style="margin-left:0px;"><strong>总结：新篇章已经写下</strong></h2><p>香港的稳定币条例不再是未来的承诺，而是当下的现实。它代表着数字资产行业的成熟，从投机走向实用。</p><p>这个新时代要求卓越、透明和对用户保护的承诺。对于准备在这个信任基础上进行建设的人来说，香港已经铺好了红地毯。金融的未来正在今天被构建，其蓝图已在“亚洲国际都会”实时展现。</p><hr><p><strong>准备好在世界最稳健的数字资产监管基础上进行建设吗？</strong><br>我们的团队为您提供开发合规、安全和创新的区块链解决方案的专家指导。</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>

稳定币新规已至：香港数字资产新时代的实战指南

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</div></div><p>&nbsp;</p><h2 class="green-h2" style="margin-left:0px;"><strong>引言：香港數位貨幣新紀元正式揭幕</strong></h2><p>這一天終於來臨。<strong>2025年8月1日</strong>，是全球數位資產行業的一個分水嶺。香港金融管理局（金管局）針對穩定幣發行人的里程碑式監管制度<strong>現已正式生效</strong>。</p><p>漫長的等待已經結束。經過多輪諮詢、討論和監管沙盒測試，一個具備執行力、旨在為Web3經濟基石——<strong>穩定幣</strong>——帶來信任、穩定性和合法性的框架，現已全面實施。</p><p>在經歷了TerraUSD等項目崩盤的行業震盪後，全球市場都在呼喚強而有力的監管護欄。香港對此作出了回應，其推出的並非扼殺創新的規則，而是一張清晰的路線圖，旨在保護用戶、穩定金融體系，並鞏固其作為全球領先Web3樞紐的地位。</p><p>這不再是紙上談兵。規則已經生效，違規的後果是真實的。對於開發者、交易所、投資者和企業而言，理解如何在這個新環境中營運，是關乎成敗的關鍵任務。</p><p>在這份實戰指南中，我們將為您剖析新規之下的現實。我們將涵蓋：</p><p>受規管的數位貨幣未來已至。讓我們一同探索前路。</p><hr><h2 class="green-h2" style="margin-left:0px;"><strong>第一部分：條例實踐——理解新的遊戲規則</strong></h2><p>由今天起，針對<strong>法幣參考穩定幣（FRS）發行人的強制性發牌制度</strong>已成為香港的法律。此框架猶如全球最受尊敬的金融監管機構之一所頒發的認證，旨在將合規者與「西部牛仔」式的經營者區分開來。</p><p>該條例建立在四大支柱之上：</p><h3 style="margin-left:0px;"><strong>監管範圍：哪些納入，哪些豁免？</strong></h3><p>規則的界定非常精確，主要針對向香港公眾推廣的**法幣參考穩定幣（FRS）**發行人。</p><p>信息非常明確：如果您的穩定幣在功能和性質上類似數位法幣，它現在就必須遵守受規管金融工具的最高標準。</p><div class="raw-html-embed"><ad-banner-1></ad-banner-1></div><hr><h2 class="green-h2" style="margin-left:0px;"><strong>第二部分：即時影響——今天誰會受到影響？</strong></h2><p>此條例的漣漪效應現已在整個生態系統中顯現。</p><h3 style="margin-left:0px;"><strong>1. 穩定幣發行人</strong></h3><p>變化是顯著的。在未持有金管局牌照的情況下，向香港公眾營運或積極推廣法幣參考穩定幣，現已構成<strong>刑事罪行</strong>。</p><h3 style="margin-left:0px;"><strong>2. 虛擬資產服務提供者 (VASP) — 交易所與平台</strong></h3><p>對於已獲香港證監會發牌的加密貨幣交易所而言，指令非常清晰：它們<strong>只能上架和交易由金管局持牌發行人所發行的穩定幣</strong>。</p><h3 style="margin-left:0px;"><strong>3. 投資者與日常用戶</strong></h3><p>對您這位終端用戶而言，這是在安全與信心上的一次重大升級。</p><hr><h2 class="green-h2" style="margin-left:0px;"><strong>第三部分：新規下的營運：實用指南</strong></h2><p>理論探討結束。以下是如何在今日的現實環境中航行。</p><h3 style="margin-left:0px;"><strong>對新發行人而言：牌照申請之路</strong></h3><p>儘管條例已生效，但對新進者的大門並未關閉。獲取金管局牌照是一個嚴格但清晰的過程。任何新申請者必須在多個領域證明其實力：</p><p><strong>金管局的監管沙盒</strong>對認真的申請者而言，仍然是一個進行對話和測試的重要工具，讓他們能在與監管機構的溝通中完善其模式。</p><h3 style="margin-left:0px;"><strong>對企業和開發者而言：</strong></h3><p>您的策略現在必須圍繞持牌穩定幣生態系統來構建。</p><hr><h2 class="green-h2" style="margin-left:0px;"><strong>總結：新篇章已經寫下</strong></h2><p>香港的穩定幣條例不再是未來的承諾，而是當下的現實。它代表著數位資產行業的成熟，從投機走向實用。</p><p>這個新時代要求卓越、透明和對用戶保護的承諾。對於準備在這個信任基礎上進行建設的人來說，香港已經鋪好了紅地毯。金融的未來正在今天被構建，其藍圖已在亞洲國際都會實時展現。</p><hr><p><strong>準備好在世界最穩健的數位資產監管基礎上進行建設嗎？</strong><br>我們的團隊為您提供開發合規、安全和創新的區塊鏈解決方案的專家指導。</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>

穩定幣時代已來臨：香港數位資產新規的實戰指南

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</div></div><p>&nbsp;</p><p>ApeX Protocol has released a data analysis ranking the most influential figures in cryptocurrency, with Tesla CEO Elon Musk surpassing Donald Trump to become the most influential person in the field. His $2 billion in cryptocurrency assets and 221.2 million social media followers far exceed those of other competitors.</p><p>The report notes that Trump ranks second with $1.34 million in cryptocurrency assets and 142.7 million followers. Salvadoran President Nayib Bukele comes in third with $8.44 million in cryptocurrency assets and 17.6 million followers. It’s worth mentioning that there is only one woman in the top ten, Senator Cynthia Lummis, as well as one non-U.S. leader, Bukele.</p><p>&nbsp;</p><figure class="image"><img src="https://cftime.io/wp-content/uploads/2025/07/image-12-1024x397.png" alt=""></figure><h3>&nbsp;</h3><p>The influence index from ApeX Protocol shows that fame and follower count are significantly more important than mere wealth. Musk's leading position is based on his substantial cryptocurrency assets and expansive social media influence. Trump follows closely, with his influence primarily stemming from his active promotion of pro-cryptocurrency policies.</p><p>President Bukele maintains a top-three position due to his early adoption of Bitcoin and ongoing social media engagement. Following him are former presidential candidate Robert F. Kennedy Jr. and several U.S. Congress members who actively advocate for pro-cryptocurrency policies.</p><h3>Musk’s Cryptocurrency Strategy: A Blend of Bitcoin, Dogecoin, and Political Strategy</h3><p>Musk actively enhances his influence in the cryptocurrency space. On July 7, 2025, he announced the formation of a new "American Party" and confirmed on the X platform that the party would "embrace Bitcoin," bluntly stating that "fiat currency is hopeless."</p><p>Musk holds a significant amount of Bitcoin through Tesla: in early 2021, Tesla purchased $1.5 billion worth of Bitcoin and currently holds approximately 11,509 BTC (valued at about $1.26 billion). His public support for Dogecoin has also consistently influenced market fluctuations; for example, after announcing the formation of his political party, Dogecoin’s price rose by 5%. He frequently tweets about mysterious meme coins and payment hints, with past posts like "$Doge" causing significant price spikes or drops.</p><p>Even the feud between Musk and Trump relates to cryptocurrency: on July 1, Trump jokingly stated on social media that "DOGE should take a close look at Musk's company," highlighting how cryptocurrency has become a focal point in their social media war.</p><h3>Trump’s Cryptocurrency Plans: Bitcoin Reserves and Active Policy Promotion</h3><p>Ranking second, Trump actively promotes pro-cryptocurrency policies. On his first day back in office, he signed an executive order to establish a U.S. Strategic Bitcoin Reserve and digital asset reserves, aimed at using seized cryptocurrencies as reserve assets and pledging to make the U.S. the "crypto capital of the world." His plan proposed in March 2025 sparked a market rebound, with Bitcoin prices soaring 10% to reach $94,000—leading to increases in Cardano, Solana, and Ripple as well, as he listed them among reserve assets.</p><p>In early March, Trump hosted a White House cryptocurrency summit to reverse the previous administration's crackdown and lobbied Congress to pass pro-cryptocurrency legislation, publicly urging Republicans in mid-July to support a landmark cryptocurrency bill, stating on social media: "The House will soon vote on a bill that makes America the undisputed leader in digital assets—digital assets are the future."</p><p>However, this plan has faced resistance within the Republican Party: a small group of conservative House members briefly stalled the debate on Trump-supported cryptocurrency bills (the GENIUS Act and related measures). Nevertheless, Trump's administration's strong stance in favor of cryptocurrency keeps him at the forefront of the influence ranking. His nomination of Robert F. Kennedy Jr. as Secretary of Health and Human Services, along with Musk being viewed as a potential SEC chair, further solidifies this influence.</p><h3>Influence of Other Political Figures and Independents</h3><p>In addition to Musk and Trump, the report mentions other influential figures, such as Salvadoran President Bukele, whose early Bitcoin adoption and ongoing social media interaction maintain his influence. U.S. Senator Cynthia Lummis, as chair of the Senate Digital Assets Subcommittee, actively promotes pro-cryptocurrency legislation, such as reintroducing the "Bitcoin Bill" in March 2025 and assisting with the GENIUS stablecoin bill, securing her position on the list. Vice President J.D. Vance and Texas Congressman Ted Cruz also rank highly due to their pro-cryptocurrency policies. Additionally, Robert F. Kennedy Jr.’s public support for Bitcoin has elevated his influence.</p><h3>The Evolution of Regulation, Legislation, and Influence</h3><p>The regulatory wave of the first half of 2025, along with debates in Congress over cryptocurrency legislation, affects the influence rankings in the cryptocurrency space. Regulatory dynamics in places like Hong Kong, Singapore, and Brazil are also significant. All these political factors impact the influence of individuals who support or appear to support cryptocurrency. For example, the departure of former SEC nominee Jay Clayton paves the way for a pro-cryptocurrency SEC chair as promised by Trump. Progress on the "Bitcoin Bill" and the "GENIUS Act" will further influence the standing of related political figures.</p><p>In conclusion, the current power brokers in the cryptocurrency space are not limited to founders of coins or executives of exchanges but are a mix of tech billionaires, media figures, and politicians who are collectively shaping the future of this field.</p>

Musk surpasses Trump to become the most influential person in crypto

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</div></div><p>ApeX Protocol发布的数据分析公布加密货币最具影响力排行榜，特斯拉行政总裁马斯克赢川普，成为加密货币领域最具影响力人物，其20亿美元的加密货币资产和2.212亿社群媒体粉丝数，远超其他竞争者。</p><p>&nbsp;</p><p>报告指出，川普以134万美元的加密货币资产和1.427亿粉丝数位居第二。萨尔瓦多总统Nayib Bukele则以844万美元的加密货币资产和1,760万粉丝数排名第三。值得关注的是，前十名中仅有一位女性，参议员Cynthia Lummis，以及一位非美国领导人Bukele。</p><p>&nbsp;</p><figure class="image"><img src="https://cftime.io/wp-content/uploads/2025/07/image-12-1024x397.png" alt=""></figure><p><strong>加密货币最具影响力排行榜。</strong></p><p>&nbsp;</p><p>ApeX Protocol的影响指数显示，名气和粉丝数的重要性远超单纯的财富。 马斯克的领先地位，正是基于其庞大的加密货币资产和广大的社群媒体影响力。川普紧随其后，其影响力主要来自其积极推动的亲加密货币政策。</p><p>&nbsp;</p><p>萨尔瓦多总统 Bukele则凭借其早期的比特币采用和持续的社群媒体互动，稳居前三名。 紧随其后的是前总统候选人小罗伯特·F·肯尼迪以及其他几位积极推动亲加密货币政策的美国国会议员。</p><p>&nbsp;</p><p>加密货币最具影响力排行榜！马斯克的加密货币策略：比特币、狗狗币与政治策略的结合</p><p>&nbsp;</p><p>马斯克积极提升在加密货币领域的影响力。 2025年7月7日，他宣布成立一个新的“美国党”，并在X平台上确认该党将“拥抱比特币”，更直言“法币已无望”。</p><p>&nbsp;</p><p>马斯克透过特斯拉持有大量比特币：2021年初，特斯拉斥资15亿美元购买比特币，至今仍持有约11,509个比特币（价值约12.6亿美元）。他公开支持狗狗币的历史，也持续影响市场波动，例如，在其宣布成立政党后，狗狗币价格上涨了5%。他经常发布关于神秘迷因币和支付暗示的推文，他过去的「$Doge」贴文曾引发价格大幅上涨或下跌。</p><p>&nbsp;</p><p>甚至马斯克与川普之间的纷争也与加密货币有关：7月1日，川普在其社群媒体上戏谑地表示，「DOGE应该仔细审视马斯克的公司」，突显加密货币已成为他们社群媒体战争的焦点。</p><p>&nbsp;</p><h3>川普的加密货币计画：比特币储备与积极的政策推动</h3><p>&nbsp;</p><p>排名第二的川普，积极推动亲加密货币政策。去年再次就任美国总统第一天，他就签署行政命令，成立美国战略比特币储备和数位资产储备，旨在将政府查封的加密货币作为储备资产，并誓言让美国成为「世界加密货币之都」。他于2025年3月提出的计划，引发了市场反弹——比特币价格飙升10%，达到94,000美元——卡尔达诺、索拉纳和瑞波币也随之上涨，因为他将它们列入储备名单。</p><p>&nbsp;</p><p>川普还在3月初召开了白宫加密货币峰会，扭转了前政府的打压行动，并大力游说国会通过亲加密货币的法案，例如在7月中旬公开敦促共和党通过具有里程碑意义的加密货币法案，并在社交媒体上表示：“众议院很快将就一项让美国成为数字资产领域无可争议的领导者的法案进行投票——数字资产是未来投票。</p><p>&nbsp;</p><p>然而，这项计画也遭遇了共和党内部的阻力：一小部分保守派众议院议员曾 briefly 阻止了川普支持的加密货币法案（GENIUS法案及相关措施）的辩论。尽管如此，川普政府积极支持加密货币的立场，使其在加密货币影响力榜上保持领先地位。 其提名人小罗伯特·F·肯尼迪担任卫生与公共服务部长，以及马斯克被视为潜在的证券交易委员会主席，都强化了这种影响力。</p><h3>&nbsp;</h3><h3>其他政治人物及独立人物的影响力</h3><p>&nbsp;</p><p>除了马斯克和川普，报告中还提及其他有影响力的人物，例如萨尔瓦多总统Bukele，他早期的比特币采用和持续的社群媒体互动，使其影响力持续存在。 美国参议员Cynthia Lummis作为参议院数字资产小组委员会主席，积极推动亲加密货币法案，例如在2025年3月重新提出“比特币法案”，以及协助推动GENIUS稳定币法案，也使其在榜单上占有一席之地。 美国副总统J.D. Vance和德州众议员Ted Cruz也因其亲加密货币政策而名列前茅。 此外，小罗伯特·F·肯尼迪作为公开的比特币支持者，其政治立场也提升了他的影响力。</p><p>&nbsp;</p><h3>监管、立法与影响力的演变</h3><p>&nbsp;</p><p>2025年上半年的监管浪潮，以及美国国会关于加密货币法案的辩论，都影响着加密货币领域的影响力排名。 香港、新加坡和巴西等地的监管动态也同样重要。 所有这些政治因素，都会影响那些支持或似乎支持加密货币的人物之影响力。 例如，前证券交易委员会提名人Jay Clayton的离职，为川普承诺的亲加密货币证券交易委员会主席铺平了道路。 「比特币法案」和「GENIUS法案」的进展，也会进一步影响相关政治人物的影响力。</p><p>&nbsp;</p><p>总而言之，目前加密货币领域的权力掮客，并非仅限于币圈创始人或交易所行政总裁，而是科技亿万富翁、媒体人物和政治人物的混合体，他们正共同塑造这个领域的未来。</p>

马斯克超越川普 成加密货币影响力最大人物

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</div></div><p><a href="https://docs.google.com/spreadsheets/d/e/2PACX-1vQk2WeflN9espF70lonMGah905afogRdp7onwfBGA98BSgfgONDcBieQjOOvxIBTmQMA9X3QMY2wiB1/pubhtml#">ApeX Protocol發布的</a>數據分析公佈加密貨幣最具影響力排行榜，特斯拉行政總裁<a href="https://cftime.io/teslas-bitcoin-holdings/">馬斯克</a>贏特朗普，成為加密貨幣領域最具影響力人物，其20億美元的加密貨幣資產和2.212億社群媒體粉絲數，遠超其他競爭者。</p><p>&nbsp;</p><p>報告指出，特朗普以134萬美元的加密貨幣資產和1.427億粉絲數位居第二。薩爾瓦多總統Nayib Bukele則以844萬美元的加密貨幣資產和1760萬粉絲數排名第三。值得關注的是，前十名中僅有一位女性，參議員Cynthia Lummis，以及一位非美國領導人Bukele。</p><p>&nbsp;</p><figure class="image"><img src="https://cftime.io/wp-content/uploads/2025/07/image-12-1024x397.png" alt=""></figure><p><strong>加密貨幣最具影響力排行榜。</strong></p><p>&nbsp;</p><p>ApeX Protocol的影響力指數顯示，名氣和粉絲數的重要性遠超單純的財富。 馬斯克的領先地位，正是基於其龐大的加密貨幣資產和廣大的社群媒體影響力。特朗普緊隨其後，其影響力主要來自其積極推動的親加密貨幣政策。</p><p>&nbsp;</p><p><a href="https://cftime.io/el-salvador-bitcoin-strategy-2/">薩爾瓦多</a>總統 Bukele則憑藉其早期的比特幣採用和持續的社群媒體互動，穩居前三。 緊隨其後的是前總統候選人小羅伯特·F·甘迺迪以及其他幾位積極推動親加密貨幣政策的美國國會議員。</p><p>&nbsp;</p><p>加密貨幣最具影響力排行榜！<strong>馬斯克的加密貨幣策略：比特幣、狗狗幣與政治策略的結合</strong></p><p>&nbsp;</p><p>馬斯克積極提升其在加密貨幣領域的影響力。2025年7月7日，他宣布成立一個新的「美國黨」，並在X平台上確認該黨將「擁抱比特幣」，更直言「法幣已無望」。</p><p>&nbsp;</p><p>馬斯克通過特斯拉持有大量比特幣：2021年初，特斯拉斥資15億美元購買比特幣，<a href="https://cftime.io/tesla-holds-bitcoin-value/">至今仍持有約11,509個比特幣（價值約12.6億美元）</a>。他公開支持狗狗幣的歷史，也持續影響著市場波動，例如，在其宣布成立政黨後，狗狗幣價格上漲了5%。他經常發佈關於神秘迷因幣和支付暗示的推文，他過去的「$Doge」貼文曾引發價格大幅上漲或下跌。</p><p>&nbsp;</p><p>甚至馬斯克與特朗普之間的紛爭也與加密貨幣有關：7月1日，特朗普在其社群媒體上戲謔地表示，「DOGE應該仔細審視一下馬斯克的公司」，突顯加密貨幣已成為他們社群媒體戰爭的焦點。</p><p>&nbsp;</p><h3><strong>特朗普的加密貨幣計劃：比特幣儲備與積極的政策推動</strong></h3><p>&nbsp;</p><p>排名第二的<a href="https://cftime.io/410k-btc/">特朗普</a>，積極推動親加密貨幣政策。去年再次就任美國總統第一天，他就簽署行政命令，成立美國戰略比特幣儲備和數位資產儲備，旨在將政府查封的加密貨幣作為儲備資產，並誓言讓美國成為「世界加密貨幣之都」。他於2025年3月提出的計劃，引發了市場反彈——比特幣價格飆升10%，達到94,000美元——卡爾達諾、索拉納和瑞波幣也隨之上漲，因為他將它們列入儲備名單。</p><p>&nbsp;</p><p>特朗普還於3月初召開了白宮加密貨幣峰會，扭轉了前任政府的打壓行動，並大力遊說國會通過親加密貨幣的法案，例如在7月中旬公開敦促共和黨通過具有里程碑意義的加密貨幣法案，並在社群媒體上表示：「眾議院很快將就一項讓美國成為數位資產領域無可爭議的領導者的法案進行投票——數位資產是未來。」</p><p>&nbsp;</p><p>然而，這一計劃也遭遇了共和黨內部的阻力：一小部分保守派眾議院議員曾 briefly 阻止了特朗普支持的加密貨幣法案（GENIUS法案及相關措施）的辯論。儘管如此，特朗普政府積極支持加密貨幣的立場，使其在加密貨幣影響力榜單上保持領先地位。 其提名人小羅伯特·F·甘迺迪擔任衛生與公共服務部長，以及馬斯克被視為潛在的證券交易委員會主席，都強化了這種影響力。</p><p>&nbsp;</p><h3><strong>其他政治人物及獨立人物的影響力</strong></h3><p>&nbsp;</p><p>除了馬斯克和特朗普，報告還提及其他具有影響力的人物，例如薩爾瓦多總統Bukele，他早期的比特幣採用和持續的社群媒體互動，使其影響力持續存在。 美國參議員Cynthia Lummis作為參議院數位資產小組委員會主席，積極推動親加密貨幣法案，例如在2025年3月重新提出「比特幣法案」，以及協助推動GENIUS穩定幣法案，也使其在榜單上佔有一席之地。 美國副總統J.D. Vance和德州眾議員Ted Cruz也因其親加密貨幣政策而位列前茅。 此外，小羅伯特·F·甘迺迪作為公開的比特幣支持者，其政治立場也提升了他的影響力。</p><p>&nbsp;</p><h3><strong>監管、立法與影響力的演變</strong></h3><p>&nbsp;</p><p>2025年上半年的監管浪潮，以及美國國會關於加密貨幣法案的辯論，都影響著加密貨幣領域的影響力排名。 香港、新加坡和巴西等地的監管動態也同樣重要。 所有這些政治因素，都會影響那些支持或似乎支持加密貨幣的人物之影響力。 例如，前證券交易委員會提名人Jay Clayton的離職，為特朗普承諾的親加密貨幣證券交易委員會主席鋪平了道路。「比特幣法案」和「GENIUS法案」的進展，也會進一步影響相關政治人物的影響力。</p><p>&nbsp;</p><p>總而言之，目前加密貨幣領域的權力掮客，並非僅限於幣圈創始人或交易所行政總裁，而是科技億萬富翁、媒體人物和政治人物的混合體，他們正共同塑造著這個領域的未來。</p>

馬斯克超越特朗普 成加密貨幣影響力最大人物

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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>

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