{"id":71233,"date":"2026-04-14T08:53:17","date_gmt":"2026-04-14T01:53:17","guid":{"rendered":"https:\/\/hbbgroup.net\/new-pro-defi-policies-show-the-sec-isnt-waiting-for-congress-to-act-on-crypto\/"},"modified":"2026-04-14T10:08:21","modified_gmt":"2026-04-14T03:08:21","slug":"new-pro-defi-policies-show-the-sec-isnt-waiting-for-congress-to-act-on-crypto","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/new-pro-defi-policies-show-the-sec-isnt-waiting-for-congress-to-act-on-crypto\/","title":{"rendered":"C\u00e1c ch\u00ednh s\u00e1ch \u1ee7ng h\u1ed9 DeFi m\u1edbi cho th\u1ea5y SEC kh\u00f4ng ch\u1edd Qu\u1ed1c h\u1ed9i h\u00e0nh \u0111\u1ed9ng v\u1ec1 crypto"},"content":{"rendered":"<div>\n<ul>\n<li>T\u00f3m t\u1eaft nhanh<br \/>\nSEC ban h\u00e0nh ch\u00ednh s\u00e1ch m\u1edbi cho ph\u00e9p m\u1ed9t s\u1ed1 giao di\u1ec7n DeFi tr\u00e1nh ph\u1ea3i \u0111\u0103ng k\u00fd nh\u01b0 broker-dealer.<\/li>\n<li>\u0110\u1ed9ng th\u00e1i n\u00e0y \u0111\u01b0\u1ee3c c\u00e1c l\u00e3nh \u0111\u1ea1o ng\u00e0nh \u0111\u00e1nh gi\u00e1 l\u00e0 m\u1ed9t chi\u1ebfn th\u1eafng l\u1edbn cho DeFi.<\/li>\n<li>\u0110i\u1ec1u n\u00e0y cho th\u1ea5y SEC \u0111ang \u0111\u1ea9y m\u1ea1nh agenda crypto ngay c\u1ea3 khi Clarity Act c\u1ee7a Th\u01b0\u1ee3ng vi\u1ec7n v\u1eabn \u0111ang b\u1ecb \u0111\u00ecnh tr\u1ec7.<\/li>\n<\/ul>\n<p>SEC \u0111\u00e3 c\u00f4ng b\u1ed1 ch\u00ednh s\u00e1ch m\u1edbi v\u00e0o th\u1ee9 Hai, mi\u1ec5n tr\u1eeb cho m\u1ed9t s\u1ed1 giao di\u1ec7n t\u00e0i ch\u00ednh phi t\u1eadp trung (DeFi) kh\u1ecfi c\u00e1c y\u00eau c\u1ea7u \u0111\u0103ng k\u00fd quan tr\u1ecdng\u2014m\u1ed9t b\u01b0\u1edbc \u0111i ch\u1ee7 \u0111\u1ed9ng cho th\u1ea5y c\u01a1 quan n\u00e0y \u0111ang t\u0103ng t\u1ed1c tri\u1ec3n khai ch\u00ednh s\u00e1ch crypto, b\u1ea5t ch\u1ea5p vi\u1ec7c Qu\u1ed1c h\u1ed9i ch\u01b0a h\u00e0nh \u0111\u1ed9ng.<\/p>\n<p>Ch\u00ednh s\u00e1ch m\u1edbi, \u0111\u01b0\u1ee3c n\u00eau trong m\u1ed9t tuy\u00ean b\u1ed1 t\u1eeb \u0111\u1ed9i ng\u0169 nh\u00e2n s\u1ef1 c\u1ee7a SEC, cho ph\u00e9p c\u00e1c giao di\u1ec7n ng\u01b0\u1eddi d\u00f9ng c\u1ee7a c\u00f4ng c\u1ee5 DeFi kh\u00f4ng c\u1ea7n \u0111\u0103ng k\u00fd nh\u01b0 broker-dealer, mi\u1ec5n l\u00e0 \u0111\u00e1p \u1ee9ng m\u1ed9t s\u1ed1 \u0111i\u1ec1u ki\u1ec7n nh\u1ea5t \u0111\u1ecbnh. Theo \u0111\u1ecbnh ngh\u0129a c\u1ee7a SEC, c\u00e1c giao di\u1ec7n n\u00e0y l\u00e0 d\u1ecbch v\u1ee5 do c\u00e1c c\u00f4ng ty crypto x\u00e2y d\u1ef1ng, gi\u00fap ng\u01b0\u1eddi d\u00f9ng v\u00ed self-custody d\u1ec5 d\u00e0ng th\u1ef1c hi\u1ec7n giao d\u1ecbch on-chain.<\/p>\n<p>Tr\u01b0\u1edbc khi T\u1ed5ng th\u1ed1ng Donald Trump quay tr\u1edf l\u1ea1i n\u1eafm quy\u1ec1n, SEC coi c\u00e1c giao di\u1ec7n n\u00e0y thu\u1ed9c ph\u1ea1m vi qu\u1ea3n l\u00fd c\u1ee7a m\u00ecnh, do ch\u00fang \u0111\u00f3ng vai tr\u00f2 k\u1ebft n\u1ed1i ng\u01b0\u1eddi d\u00f9ng DeFi v\u1edbi th\u1ecb tr\u01b0\u1eddng. Tuy nhi\u00ean, ng\u00e0nh crypto t\u1eeb l\u00e2u \u0111\u00e3 l\u1eadp lu\u1eadn r\u1eb1ng c\u00e1c giao di\u1ec7n n\u00e0y kh\u00f4ng n\u00ean b\u1ecb xem nh\u01b0 c\u00e1c broker truy\u1ec1n th\u1ed1ng tr\u00ean Ph\u1ed1 Wall, ch\u1eb3ng h\u1ea1n nh\u01b0 Charles Schwab.<\/p>\n<p>Hi\u1ec7n t\u1ea1i, c\u00e1c l\u00e3nh \u0111\u1ea1o ng\u00e0nh crypto d\u01b0\u1eddng nh\u01b0 \u0111\u00e3 \u0111\u1ea1t \u0111\u01b0\u1ee3c \u0111i\u1ec1u h\u1ecd mong mu\u1ed1n. N\u1ebfu m\u1ed9t giao di\u1ec7n tu\u00e2n th\u1ee7 c\u00e1c ti\u00eau ch\u00ed m\u00e0 SEC \u0111\u1ec1 ra, c\u01a1 quan n\u00e0y s\u1ebd kh\u00f4ng y\u00eau c\u1ea7u c\u00f4ng ty \u0111\u1ee9ng sau giao di\u1ec7n \u0111\u00f3 ph\u1ea3i \u0111\u0103ng k\u00fd\u2014even khi giao di\u1ec7n c\u00f3 li\u00ean quan \u0111\u1ebfn ch\u1ee9ng kho\u00e1n.<\/p>\n<p>\u0110\u1ec3 \u0111\u1ee7 \u0111i\u1ec1u ki\u1ec7n, giao di\u1ec7n kh\u00f4ng \u0111\u01b0\u1ee3c n\u1eafm gi\u1eef t\u00e0i s\u1ea3n c\u1ee7a ng\u01b0\u1eddi d\u00f9ng; kh\u00f4ng s\u1eafp x\u1ebfp t\u00e0i ch\u00ednh; kh\u00f4ng l\u00f4i k\u00e9o ng\u01b0\u1eddi d\u00f9ng th\u1ef1c hi\u1ec7n giao d\u1ecbch c\u1ee5 th\u1ec3; v\u00e0 kh\u00f4ng g\u00e2y \u00e1p l\u1ef1c bu\u1ed9c ng\u01b0\u1eddi d\u00f9ng ch\u1ecdn m\u1ed9t ph\u01b0\u01a1ng \u00e1n giao d\u1ecbch nh\u1ea5t \u0111\u1ecbnh. Ngo\u00e0i ra, giao di\u1ec7n ph\u1ea3i cung c\u1ea5p nhi\u1ec1u l\u1ef1a ch\u1ecdn th\u1ef1c hi\u1ec7n giao d\u1ecbch, s\u1eafp x\u1ebfp theo ti\u00eau ch\u00ed kh\u00e1ch quan nh\u01b0 gi\u00e1, v\u00e0 ch\u1ec9 thu ph\u00ed c\u1ed1 \u0111\u1ecbnh ho\u1eb7c ph\u00ed theo m\u1ee9c \u0111\u1ecbnh s\u1eb5n.<\/p>\n<p>\u1ee6y vi\u00ean SEC Hester Peirce\u2014m\u1ed9t ng\u01b0\u1eddi \u1ee7ng h\u1ed9 crypto\u2014cho bi\u1ebft: \u201cCrypto \u0111ang bu\u1ed9c \u1ee6y ban ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi nh\u1eefng c\u00e1ch di\u1ec5n gi\u1ea3i lu\u1eadt ch\u1ee9ng kho\u00e1n ng\u00e0y c\u00e0ng m\u1edf r\u1ed9ng tr\u01b0\u1edbc \u0111\u00e2y. L\u1ecbch s\u1eed g\u1ea7n \u0111\u00e2y \u0111\u1ea7y r\u1eaby c\u00e1c th\u01b0 no-action v\u00e0 c\u00e1c v\u1ee5 th\u1ef1c thi ph\u00e1p l\u00fd \u0111\u00e3 khi\u1ebfn kh\u00e1i ni\u1ec7m \u2018broker\u2019 b\u1ecb b\u00f3p m\u00e9o.\u201d<\/p>\n<p>C\u00e1c l\u00e3nh \u0111\u1ea1o trong l\u0129nh v\u1ef1c t\u00e0i ch\u00ednh phi t\u1eadp trung \u0111\u00e3 ca ng\u1ee3i th\u00f4ng b\u00e1o n\u00e0y l\u00e0 m\u1ed9t b\u01b0\u1edbc ti\u1ebfn l\u1edbn cho to\u00e0n ng\u00e0nh.<\/p>\n<\/div>\n<div>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">H\u01b0\u1edbng d\u1eabn c\u1ee7a SEC l\u00e0 m\u1ed9t t\u00edn hi\u1ec7u t\u00edch c\u1ef1c kh\u00f4ng ph\u1ea3i v\u00ec n\u1ed9i dung n\u00f3 n\u00f3i g\u00ec, m\u00e0 v\u00ec \u00fd ngh\u0129a \u0111\u1eb1ng sau n\u00f3. Trong nhi\u1ec1u th\u1eadp k\u1ef7, h\u1ec7 th\u1ed1ng t\u00e0i ch\u00ednh c\u1ee7a ch\u00fang ta \u0111\u01b0\u1ee3c x\u00e2y d\u1ef1ng d\u1ef1a tr\u00ean c\u00e1c trung gian t\u1eadp trung\u2014nh\u1eefng b\u00ean t\u1eebng mang l\u1ea1i gi\u00e1 tr\u1ecb \u0111\u00e1ng k\u1ec3 trong m\u1ed9t th\u1eddi gian d\u00e0i. Tuy nhi\u00ean, trong k\u1ef7 nguy\u00ean c\u00f4ng ngh\u1ec7, \u0111\u1eb7c bi\u1ec7t l\u00e0 v\u1edbi c\u00e1c smart contract c\u00f3 th\u1ec3 ki\u1ec3m ch\u1ee9ng (auditable), nhu c\u1ea7u \u0111\u1ed1i v\u1edbi\u2026<\/p>\n<p>\u2014 Matt Corva (@MattCorva) <a href=\"https:\/\/twitter.com\/MattCorva\/status\/2043708930073760060?ref_src=twsrc%5Etfw\" data-wpel-link=\"internal\">April 13, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<p>\u201cNg\u00e0y kh\u00f3 kh\u0103n cho nh\u1eefng b\u00ean ki\u1ec3m so\u00e1t c\u1ed5ng v\u00e0o (gatekeepers) v\u00e0 nh\u1eefng ng\u01b0\u1eddi b\u1ea3o v\u1ec7 \u2018h\u00e0o kinh t\u1ebf\u2019,\u201d Amanda Tuminelli, Gi\u00e1m \u0111\u1ed1c \u0111i\u1ec1u h\u00e0nh c\u1ee7a DeFi Education Fund, cho bi\u1ebft h\u00f4m th\u1ee9 Hai. \u201cNh\u01b0ng l\u00e0 m\u1ed9t ng\u00e0y t\u1ed1t cho builder.\u201d<\/p>\n<p>\u201c\u0110\u00e2y l\u00e0 m\u1ed9t th\u1eddi kh\u1eafc \u0111\u00e1ng kinh ng\u1ea1c,\u201d Matt Corva, c\u1ed1 v\u1ea5n ph\u00e1p l\u00fd t\u1ea1i c\u00f4ng ty ph\u1ea7n m\u1ec1m Consensys, nh\u1eadn \u0111\u1ecbnh. (L\u01b0u \u00fd: Consensys l\u00e0 m\u1ed9t trong nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ee7a Decrypt, nh\u01b0ng ho\u1ea1t \u0111\u1ed9ng bi\u00ean t\u1eadp v\u1eabn \u0111\u1ed9c l\u1eadp.)<\/p>\n<p>\u201cN\u1ebfu c\u00e1c \u1ee9ng d\u1ee5ng phi t\u1eadp trung th\u1ef1c s\u1ef1 hi\u1ec7n th\u1ef1c h\u00f3a \u0111\u01b0\u1ee3c ti\u1ec1m n\u0103ng,\u201d \u00f4ng ti\u1ebfp t\u1ee5c, \u201cth\u00ec c\u00f3 th\u1ec3 xem \u0111\u00e2y l\u00e0 ng\u00e0y m\u00e0 c\u00e1c trung gian t\u1eadp trung ch\u1ecbu m\u1ed9t \u0111\u00f2n gi\u00e1ng m\u1ea1nh, khi ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi s\u1ef1 c\u1ea1nh tranh c\u00f4ng b\u1eb1ng.\u201d<\/p>\n<p>Miles Jennings, l\u00e3nh \u0111\u1ea1o b\u1ed9 ph\u1eadn crypto c\u1ee7a Andreessen Horowitz, g\u1ecdi tuy\u00ean b\u1ed1 c\u1ee7a SEC l\u00e0 m\u1ed9t \u201cchi\u1ebfn th\u1eafng l\u1edbn cho DeFi.\u201d<\/p>\n<div>\n<blockquote>\n<p dir=\"ltr\" lang=\"en\">H\u01b0\u1edbng d\u1eabn c\u1ee7a SEC l\u00e0 m\u1ed9t t\u00edn hi\u1ec7u t\u00edch c\u1ef1c kh\u00f4ng ph\u1ea3i v\u00ec n\u1ed9i dung n\u00f3 n\u00f3i g\u00ec, m\u00e0 v\u00ec \u00fd ngh\u0129a \u0111\u1eb1ng sau. Trong nhi\u1ec1u th\u1eadp k\u1ef7, h\u1ec7 th\u1ed1ng c\u1ee7a ch\u00fang ta \u0111\u01b0\u1ee3c x\u00e2y d\u1ef1ng d\u1ef1a tr\u00ean c\u00e1c trung gian t\u1eadp trung\u2014nh\u1eefng b\u00ean t\u1eebng mang l\u1ea1i gi\u00e1 tr\u1ecb \u0111\u00e1ng k\u1ec3 trong m\u1ed9t th\u1eddi gian d\u00e0i. Tuy nhi\u00ean, trong k\u1ef7 nguy\u00ean c\u00f4ng ngh\u1ec7, \u0111\u1eb7c bi\u1ec7t l\u00e0 v\u1edbi c\u00e1c smart contract c\u00f3 th\u1ec3 ki\u1ec3m ch\u1ee9ng (auditable), nhu c\u1ea7u \u0111\u1ed1i v\u1edbi\u2026<\/p>\n<p>\u2014 Matt Corva (@MattCorva) <a href=\"https:\/\/twitter.com\/MattCorva\/status\/2043708930073760060?ref_src=twsrc%5Etfw\" data-wpel-link=\"internal\">April 13, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<p>C\u00e1c l\u00e3nh \u0111\u1ea1o trong ng\u00e0nh c\u0169ng cho r\u1eb1ng tuy\u00ean b\u1ed1 c\u1ee7a SEC cho th\u1ea5y c\u01a1 quan n\u00e0y \u0111ang ti\u1ebfp t\u1ee5c tri\u1ec3n khai c\u00e1c tr\u1ee5 c\u1ed9t quan tr\u1ecdng trong agenda crypto, d\u00f9 v\u1eabn ch\u01b0a nh\u1eadn \u0111\u01b0\u1ee3c h\u01b0\u1edbng d\u1eabn c\u1ee5 th\u1ec3 t\u1eeb Qu\u1ed1c h\u1ed9i.<\/p>\n<p>D\u00f9 Ch\u1ee7 t\u1ecbch SEC Paul Atkins nhi\u1ec1u l\u1ea7n b\u00e0y t\u1ecf \u1ee7ng h\u1ed9 d\u1ef1 lu\u1eadt c\u1ea5u tr\u00fac th\u1ecb tr\u01b0\u1eddng crypto \u0111ang ch\u1edd x\u1eed l\u00fd t\u1ea1i Th\u01b0\u1ee3ng vi\u1ec7n, \u00f4ng c\u0169ng cho bi\u1ebft kh\u00f4ng c\u1ea7n \u0111\u1ee3i lu\u1eadt \u0111\u01b0\u1ee3c th\u00f4ng qua \u0111\u1ec3 th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c \u1ee7ng h\u1ed9 crypto m\u1ed9t c\u00e1ch m\u1ea1nh m\u1ebd.<\/p>\n<p>D\u1ef1 lu\u1eadt c\u1ee7a Th\u01b0\u1ee3ng vi\u1ec7n, \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 Clarity Act, \u0111\u00e3 r\u01a1i v\u00e0o tr\u1ea1ng th\u00e1i \u0111\u00ecnh tr\u1ec7 trong nhi\u1ec1u th\u00e1ng do v\u01b0\u1edbng ph\u1ea3i nhi\u1ec1u v\u1ea5n \u0111\u1ec1 ph\u1ee9c t\u1ea1p. Nh\u1eefng ng\u01b0\u1eddi \u1ee7ng h\u1ed9 d\u1ef1 lu\u1eadt g\u1ea7n \u0111\u00e2y c\u1ea3nh b\u00e1o r\u1eb1ng, v\u1edbi cu\u1ed9c b\u1ea7u c\u1eed gi\u1eefa nhi\u1ec7m k\u1ef3 v\u00e0o th\u00e1ng 11 \u0111ang \u0111\u1ebfn g\u1ea7n, n\u1ebfu kh\u00f4ng s\u1edbm \u0111\u01b0\u1ee3c th\u00f4ng qua, d\u1ef1 lu\u1eadt c\u00f3 th\u1ec3 s\u1ebd kh\u00f4ng th\u1ec3 tr\u1edf th\u00e0nh lu\u1eadt.<\/p>\n<h5>B\u1ea3n tin Daily Debrief<\/h5>\n<p>B\u1eaft \u0111\u1ea7u m\u1ed7i ng\u00e0y v\u1edbi nh\u1eefng tin t\u1ee9c h\u00e0ng \u0111\u1ea7u, c\u00f9ng c\u00e1c b\u00e0i vi\u1ebft chuy\u00ean s\u00e2u, podcast, video v\u00e0 nhi\u1ec1u n\u1ed9i dung kh\u00e1c.<\/p>","protected":false},"excerpt":{"rendered":"<p>T\u00f3m t\u1eaft nhanh SEC ban h\u00e0nh ch\u00ednh s\u00e1ch m\u1edbi cho ph\u00e9p m\u1ed9t s\u1ed1 giao di\u1ec7n DeFi tr\u00e1nh ph\u1ea3i \u0111\u0103ng k\u00fd [&hellip;]<\/p>","protected":false},"author":5,"featured_media":71234,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220],"tags":[],"class_list":["post-71233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tien-dien-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/71233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/comments?post=71233"}],"version-history":[{"count":1,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/71233\/revisions"}],"predecessor-version":[{"id":71451,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/71233\/revisions\/71451"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media\/71234"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media?parent=71233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/categories?post=71233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/tags?post=71233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}