<p>美国联邦储备委员会已撤回一项 2023 年的指导意见，该意见限制了包括无保险银行在内的美联储监管银行与加密货币的互动，因为美国监管机构继续对数字资产采取积极态度。</p>
<p>2023 年的指导意见要求无保险银行遵循与联邦保险机构相同的规则，基于类似活动带来类似风险的原则，应该受到相同的监管。</p>
<p>这使得无保险银行无法参与国家银行不允许的活动，如加密服务，这自动使其失去美联储会员资格，因为该机构的主要活动是不被允许的。</p>
<p><strong>美联储表示金融系统自 2023 年以来已发生变化</strong></p>
<p>美联储表示，撤回该指导意见的一个关键原因是其已过时，并且 “金融系统及董事会对创新产品和服务的理解已经发展。”</p>
<p>“因此，2023 年的政策声明不再适用，已被撤回，” 它表示。</p>
<p>专注于加密货币的 Custodia Bank 首席执行官凯特琳·朗在周三的 X 平台上对此举表示赞赏，解释说 2023 年的指导意见是她的机构之前申请主账户被拒的原因。</p>
<p>与美联储的主账户使金融机构能够直接与美国中央银行持有余额，并访问其核心支付系统，从而允许以中央银行货币进行支付结算，而不是依赖其他银行作为中介。</p>
<p><em><strong>相关：</strong></em> <em><strong>特朗普对利率的看法在美联储将 “没有影响”：哈塞特</strong></em></p>
<p>“美联储在 Custodia 拒绝中引用了这一指导意见，实际上是违法的，即使该指导意见尚未正式生效，这直到 2023 年 2 月才发生，” 朗说。</p>
<p>“但大部分团队现在已经离开或在美联储失去权力。大自然正在恢复。谢谢 VCS Bowman 和 Gov Waller！” 她补充道。</p>
<p><strong>新指导意见将促进银行创新</strong></p>
<p>周三的举措是因为美联储发布了新的指导意见，为受保险和无保险的美联储监管州成员银行追求 “创新活动”，如加密货币，建立正式途径，前提是满足风险管理预期，根据美联储周三的声明。</p>
<p>美联储副主席米歇尔·鲍曼表示，通过 “为负责任的创新产品和服务创造途径，董事会正在帮助确保银行业保持安全稳健，同时也现代、高效和有效。”</p>
<p><strong>美联储的决定并非一致通过</strong></p>
<p>美联储理事迈克尔·巴尔对这一决定表示异议，认为银行之间的平等待遇原则有助于维护公平竞争环境，防止监管套利。</p>
<p>“这一原则今天仍然适用。因此，我无法同意撤销当前的政策声明并采纳一项新政策，这实际上会鼓励监管套利，破坏公平竞争环境，并促进与维护金融稳定不一致的激励。我表示异议，” 他说。</p>
<p>巴尔被指控与 “窒息行动 2.0” 有关，这是一个联邦努力剥夺加密公司的银行服务的行动。然而，他之前也是 Ripple 的顾问，并推动负责任的稳定币监管。</p>
<p><em><strong>杂志：</strong></em> 不稳定币：脱钩、银行挤兑和其他风险迫在眉睫</p>

<p>美国联邦储备委员会已撤回其 2023 年的指导方针，该方针限制了联邦监管银行与加密货币的接触，理由是政策过时和金融系统的演变。此举允许受保险和不受保险的银行在满足风险管理预期的前提下，追求包括加密服务在内的创新活动。联邦储备副主席米歇尔·鲍曼支持这一变化，而理事迈克尔·巴尔则表示反对，警告存在监管套利的风险。Custodia Bank 的凯特琳·朗对此决定表示赞赏，强调其对她所在机构的主账户申请的影响</p>

<p>The US Federal Reserve has withdrawn a 2023 guidance that limited how Fed-supervised banks, including uninsured ones, engaged with crypto, as US regulators continue to pivot positively toward digital assets.</p>
<div class="lb-trans"><p>美国联邦储备委员会已撤回一项 2023 年的指导意见，该意见限制了包括无保险银行在内的美联储监管银行与加密货币的互动，因为美国监管机构继续对数字资产采取积极态度。</p>
</div><p>The 2023 guidance required uninsured banks to follow the same rules as federally insured institutions, based on the principle that similar activities pose similar risks and should be subject to identical regulation.</p>
<div class="lb-trans"><p>2023 年的指导意见要求无保险银行遵循与联邦保险机构相同的规则，基于类似活动带来类似风险的原则，应该受到相同的监管。</p>
</div><p>This prevented uninsured banks from engaging in activities that weren’t permitted for national banks, like crypto services, which automatically disqualified Fed membership because the institution’s primary activities weren’t allowed.</p>
<div class="lb-trans"><p>这使得无保险银行无法参与国家银行不允许的活动，如加密服务，这自动使其失去美联储会员资格，因为该机构的主要活动是不被允许的。</p>
</div><p><strong>Fed says financial system has evolved since 2023</strong></p>
<div class="lb-trans"><p><strong>美联储表示金融系统自 2023 年以来已发生变化</strong></p>
</div><p>The Fed said a key reason for withdrawing the guidance was that it was outdated and “the financial system and the Board’s understanding of innovative products and services have evolved.”</p>
<div class="lb-trans"><p>美联储表示，撤回该指导意见的一个关键原因是其已过时，并且 “金融系统及董事会对创新产品和服务的理解已经发展。”</p>
</div><p>“As a result, the 2023 policy statement is no longer appropriate and has been withdrawn,” it said.</p>
<div class="lb-trans"><p>“因此，2023 年的政策声明不再适用，已被撤回，” 它表示。</p>
</div><p>Caitlin Long, the CEO of the crypto‑focused Custodia Bank, applauded the move in an X post on Wednesday, explaining the 2023 guidance was why her institution’s application for a master account was previously denied.</p>
<div class="lb-trans"><p>专注于加密货币的 Custodia Bank 首席执行官凯特琳·朗在周三的 X 平台上对此举表示赞赏，解释说 2023 年的指导意见是她的机构之前申请主账户被拒的原因。</p>
</div><p>A master account with the Fed enables a financial institution to hold balances directly with the US central bank and access its core payment systems, allowing for payment settlement in central bank money rather than relying on another bank as an intermediary.</p>
<div class="lb-trans"><p>与美联储的主账户使金融机构能够直接与美国中央银行持有余额，并访问其核心支付系统，从而允许以中央银行货币进行支付结算，而不是依赖其他银行作为中介。</p>
</div><p><em><strong>Related:</strong></em> <em><strong>Trump’s views on interest rates will hold ‘no weight’ at Fed: Hassett</strong></em></p>
<div class="lb-trans"><p><em><strong>相关：</strong></em> <em><strong>特朗普对利率的看法在美联储将 “没有影响”：哈塞特</strong></em></p>
</div><p>“The Fed broke the law by citing this very guidance in the Custodia denial, even tho the guidance hadn’t become official yet, that didn’t happen until Feb 2023,” Long said.</p>
<div class="lb-trans"><p>“美联储在 Custodia 拒绝中引用了这一指导意见，实际上是违法的，即使该指导意见尚未正式生效，这直到 2023 年 2 月才发生，” 朗说。</p>
</div><p>“But most of that team is now gone or out of power at the Fed. Nature is healing. Thank you VCS Bowman &amp; Gov Waller!” she added.</p>
<div class="lb-trans"><p>“但大部分团队现在已经离开或在美联储失去权力。大自然正在恢复。谢谢 VCS Bowman 和 Gov Waller！” 她补充道。</p>
</div><p><strong>New guidance to boost bank innovation</strong></p>
<div class="lb-trans"><p><strong>新指导意见将促进银行创新</strong></p>
</div><p>The move on Wednesday came as the Federal Reserve issued new guidance to establish a formal pathway for both insured and uninsured Federal Reserve-supervised state member banks to pursue “innovative activities,” such as cryptocurrencies, provided risk-management expectations are met, according to a statement on Wednesday by the Fed.</p>
<div class="lb-trans"><p>周三的举措是因为美联储发布了新的指导意见，为受保险和无保险的美联储监管州成员银行追求 “创新活动”，如加密货币，建立正式途径，前提是满足风险管理预期，根据美联储周三的声明。</p>
</div><p>Fed Vice Chair for Supervision Michelle Bowman said by “creating a pathway for responsible, innovative products and services, the Board is helping ensure that the banking sector remains safe and sound while also modern, efficient, and effective.”</p>
<div class="lb-trans"><p>美联储副主席米歇尔·鲍曼表示，通过 “为负责任的创新产品和服务创造途径，董事会正在帮助确保银行业保持安全稳健，同时也现代、高效和有效。”</p>
</div><p><strong>Fed decision wasn’t unanimous</strong></p>
<div class="lb-trans"><p><strong>美联储的决定并非一致通过</strong></p>
</div><p>Fed Governor Michael Barr dissented to the decision, arguing that the principle of equal treatment among banks helps maintain a level playing field and prevents regulatory arbitrage.</p>
<div class="lb-trans"><p>美联储理事迈克尔·巴尔对这一决定表示异议，认为银行之间的平等待遇原则有助于维护公平竞争环境，防止监管套利。</p>
</div><p>“This principle continues to hold true today. Therefore, I cannot agree to rescind the current policy statement and adopt a new one that would, in effect, encourage regulatory arbitrage, undermine a level playing field, and promote incentives misaligned with maintaining financial stability. I dissent,” he said.</p>
<div class="lb-trans"><p>“这一原则今天仍然适用。因此，我无法同意撤销当前的政策声明并采纳一项新政策，这实际上会鼓励监管套利，破坏公平竞争环境，并促进与维护金融稳定不一致的激励。我表示异议，” 他说。</p>
</div><p>Barr has been accused of being linked to Operation Chokepoint 2.0, a federal effort to debank crypto companies. However, he was also previously an adviser at Ripple and has pushed for responsible stablecoin regulation.</p>
<div class="lb-trans"><p>巴尔被指控与 “窒息行动 2.0” 有关，这是一个联邦努力剥夺加密公司的银行服务的行动。然而，他之前也是 Ripple 的顾问，并推动负责任的稳定币监管。</p>
</div><p><em><strong>Magazine:</strong></em> Unstablecoins: Depegging, bank runs and other risks loom</p>
<div class="lb-trans"><p><em><strong>杂志：</strong></em> 不稳定币：脱钩、银行挤兑和其他风险迫在眉睫</p>
</div>

美国联邦储备局撤回了阻止其银行参与加密货币的指导意见