ืžื•ืคืขืœ ืข"ื™

ื—ืงื™ืจืช SEC ื‘ืขืžื•ืชืช ื–ืงืืฉ ืžืกืชื™ื™ืžืช ื‘ืฉืงื˜

ืงืจืŸ ื–ืงืืฉ ืืžืจื” ื‘-14 ื‘ื™ื ื•ืืจ 2026 ื›ื™ ืจืฉื•ืช ื ื™ื™ืจื•ืช ืขืจืš ื”ืืžืจื™ืงืื™ืช (SEC) ืกื™ื™ืžื” ืืช ื—ืงื™ืจืชื” ืืช ื”ืืจื’ื•ืŸ ืœืœื ื”ืžืœืฆื” ืขืœ ืคืขื•ืœื” ืื›ื™ืคื”.

ื ื›ืชื‘ ืข"ื™
ืฉืชืฃ
ื—ืงื™ืจืช SEC ื‘ืขืžื•ืชืช ื–ืงืืฉ ืžืกืชื™ื™ืžืช ื‘ืฉืงื˜

ืงืจืŸ ื–ืงืืฉ ืžื•ื“ื™ืขื” ืขืœ ืกื™ื•ื ื—ืงื™ืจืช ื”-SEC

ื”ื—ืงื™ืจื” ื ื‘ืขื” ืžื”ื–ืžื ื” ืฉื”ื•ืฆืื” ืœืงืจืŸ ื‘-31 ื‘ืื•ื’ื•ืกื˜ 2023, ืชื—ืช ืขื ื™ื™ืŸ ืฉืœ ื”-SEC ืฉื›ื•ืชืจืชื• โ€œIn the Matter of Certain Crypto Asset Offerings (SF-04569).โ€ ื”ืจื’ื•ืœื˜ื•ืจ ืœื ื—ืฉืฃ ื‘ืฆื™ื‘ื•ืจ ื”ืืฉืžื•ืช ืกืคืฆื™ืคื™ื•ืช ื”ืงืฉื•ืจื•ืช ืœื—ืงื™ืจื”, ืืฉืจ ื ื•ืชืจื” ืคืชื•ื—ื” ื‘ืžืฉืš ื™ื•ืชืจ ืžืฉื ืชื™ื™ื.

ืขืœ ืคื™ ื”ืขื“ื›ื•ืŸ ืฉืœ ื”ืงืจืŸ ื‘ื ื•ืฉื, ื”-SEC ื”ื•ื“ื™ืข โ€‹โ€‹ืฉื”ืจืฉื•ืช ืื™ื ื” ืžืชื›ื•ื•ื ืช ืœื”ืžืœื™ืฅ โ€‹โ€‹ืขืœ ืื›ื™ืคื” ืื• ืœื“ืจื•ืฉ ืฉื™ื ื•ื™ื™ื ืชืคืขื•ืœื™ื™ื. ื”ืงืจืŸ ืืžืจื” ืฉื”ื™ื ืฉื™ืชืคื” ืคืขื•ืœื” ื‘ืื•ืคืŸ ืžืœื ืขื ื”ื—ืงื™ืจื” ื•ืกื™ืคืงื” ืืช ื”ืžืกืžื›ื™ื ื”ืžื‘ื•ืงืฉื™ื ืœืื•ืจืš ื›ืœ ืชื”ืœื™ืš ื”ื‘ื“ื™ืงื”.

ื‘ื”ืฆื”ืจื” ืฆื™ื‘ื•ืจื™ืช ื”ืืจื’ื•ืŸ ืืžืจ ืฉื”ืชื•ืฆืื” ืžืฉืงืคืช ืืช ื”ืžื—ื•ื™ื‘ื•ืช ืฉืœื• ืœืฉืงื™ืคื•ืช ื•ืœืขืžื™ื“ื” ื‘ื“ืจื™ืฉื•ืช ื”ืจื’ื•ืœื˜ื•ืจื™ื•ืช ื”ืžืชืื™ืžื•ืช. ื”ืงืจืŸ ื”ื•ืกื™ืคื” ื›ื™ ื”ื™ื ื ื•ืชืจืช ืžืžื•ืงื“ืช ื‘ืงื™ื“ื•ื ืชืฉืชื™ืช ืคื™ื ื ืกื™ืช ื”ืžืฉืžืจืช ืคืจื˜ื™ื•ืช ืœื˜ื•ื‘ืช ื”ืฆื™ื‘ื•ืจ.

ืงืจืŸ ื–ืงืืฉ ืชื•ืžื›ืช ื‘ืคื™ืชื•ื— ืคืจื•ื˜ื•ืงื•ืœ ื–ืงืืฉ, ืืฉืจ ื”ื•ืฉืง ื‘-2016 ื•ืžืฉืชืžืฉ ื‘ื”ื•ื›ื—ื•ืช ื™ื“ืข ืืคืก ื”ื™ื“ื•ืขื•ืช ื›-zk-SNARKs ื›ื“ื™ ืœืืคืฉืจ ืขืกืงืื•ืช ืžื•ืฆืคื ื•ืช. ืชื›ื•ื ื•ืช ื”ืคืจื˜ื™ื•ืช ืฉืœ ื–ืงืืฉ ืžืฉื›ื• ื‘ืื•ืคืŸ ื”ื™ืกื˜ื•ืจื™ ืชืฉื•ืžืช ืœื‘ ืจื’ื•ืœื˜ื•ืจื™ืช ืขืงื‘ ื“ืื’ื•ืช ืœืฉื™ืžื•ืฉ ืœืจืขื” ืคื•ื˜ื ืฆื™ืืœื™, ืื ื›ื™ ืชื•ืžื›ื™ื ืžืฆื™ื’ื™ื ืืช ื”ื˜ื›ื ื•ืœื•ื’ื™ื” ื›ื›ืœื™ ืœืฉืžื™ืจื” ืขืœ ืคืจื˜ื™ื•ืช ืคื™ื ื ืกื™ืช.

ื”ืงืจืŸ ืฉื™ืชืคื” ืืช ื”ื”ื•ื“ืขื” ื‘ืืชืจ ื”ืื™ื ื˜ืจื ื˜ ืฉืœื” ื•ื‘ืขืจื•ืฆื™ื ื”ื—ื‘ืจืชื™ื™ื ืฉืœื”, ื•ืื™ืฉืจื” ื›ื™ ื”ื ื•ืฉื ื ืกื’ืจ ื‘ืื•ืคืŸ ืจืฉืžื™. ื”ื™ื ื”ื“ื’ื™ืฉื” ื›ื™ ืœื ื”ื•ื˜ืœื• ืขื•ื ืฉื™ื ื•ืœื ื”ื•ื—ืœื˜ ืขืœ ืžืžืฆืื™ ืขื•ื•ืœื” ื›ื—ืœืง ืžื”ืžืกืงื ื” ืฉืœ ื”-SEC.

ืœืื—ืจ ื”ื”ื•ื“ืขื”, ื”ืžื—ื™ืจ ืฉืœ ZEC, ื”ื˜ื•ืงืŸ ื”ืžืงื•ืžื™ ืฉืœ ื”ืจืฉืช, ืขืœื” ื‘ื›-12% ื‘ืฉืขื•ืช ืฉืœืื—ืจ ื”ื”ื•ื“ืขื”, ืขืœ ืคื™ ื ืชื•ื ื™ ืฉื•ืง ืฉื”ื•ืฆื’ื• ืขืœ ื™ื“ื™ ื”ืฆื”ืจืช ื”ืงืจืŸ. ื”ืžื”ืœืš ื”ืกื™ืจ ืžื” ืฉืžืฉืชืชืคื™ ื”ืฉื•ืง ืชื™ืืจื• ื›ืขื•ืžืก ืจื’ื•ืœื˜ื•ืจื™ ืฉื ืงืฉืจ ืœื—ืงื™ืจื” ื”ืžืชืžืฉื›ืช.

ื’ื ืงืจื: ืžื ื™ื•ืช ื‘ืืจื”โ€ื‘ ื ื—ืœืฉื•ืช ื›ืฉื”ืžื’ื–ืจ ื”ืงืจื™ืคื˜ื• ื•ื”ืžืชื›ื•ืช ื”ื™ืงืจื•ืช ืคื•ืจื—ื™ื

ื”ื—ืœื˜ืช ื”-SEC ื—ืœื” ืกืคืฆื™ืคื™ืช ืขืœ ืงืจืŸ ื–ืงืืฉ ื•ืื™ื ื” ืžื”ื•ื•ื” ื”ื—ืœื˜ื” ืจื’ื•ืœื˜ื•ืจื™ืช ืจื—ื‘ื” ื™ื•ืชืจ ื”ืžื›ืกื” ืืช ื›ืœ ื”ื ื›ืกื™ื ื”ื“ื™ื’ื™ื˜ืœื™ื™ื ื”ืžืžื•ืงื“ื™ื ื‘ืคืจื˜ื™ื•ืช ืื• ืžืฉืชืชืคื™ ื”ืžืขืจื›ืช ื”ืืงื•ืœื•ื’ื™ืช. ืžื˜ื‘ืขื•ืช ืคืจื˜ื™ื•ืช ืžืžืฉื™ื›ื™ื ืœื”ืชืžื•ื“ื“ ืขื ื˜ื™ืคื•ืœ ืจื’ื•ืœื˜ื•ืจื™ ืžืฉืชื ื” ื‘ืจื—ื‘ื™ ื”ืขื•ืœื, ื›ื•ืœืœ ื”ืกืจืช ืจืฉื™ืžืช ืžืกื—ืจ ื‘ื›ืžื” ืชื—ื•ืžื™ ืฉื™ืคื•ื˜.

ื‘ืขื•ื“ ืฉื”ืจืฉื•ืช ืจื“ืคื” ืื—ืจื™ ืคืขื•ืœื•ืช ืื›ื™ืคื” ื ื’ื“ ืžืกืคืจ ื—ื‘ืจื•ืช ืงืจื™ืคื˜ื• ื‘ืฉื ื™ื ื”ืื—ืจื•ื ื•ืช, ื”ื—ืงื™ืจื” ื”ื–ื• ื”ืกืชื™ื™ืžื” ืœืœื ื”ืชื“ื™ื™ื ื•ืช ืื• ืคืชืจื•ืŸ ืคืฉืจื”. ื”ืงืจืŸ ืชื™ืืจื” ืืช ื”ืชื•ืฆืื” ื›ืคืชืจื•ืŸ ื”ืžืืคืฉืจ ืœื” ืœื”ืžืฉื™ืš ื‘ืขื‘ื•ื“ืชื” ืœืœื ื—ื•ืกืจ ื•ื•ื“ืื•ืช ืจื’ื•ืœื˜ื•ืจื™ืช ืขื•ืžื“ืช.

ืฉืืœื•ืช ื ืคื•ืฆื•ืช โ“

  • ืžื” ื”ื—ืœื™ื˜ ื”-SEC ืœื’ื‘ื™ ืงืจืŸ ื–ืงืืฉ? ื”-SEC ืกื™ื™ื ืืช ื—ืงื™ืจืชื• ื•ืืžืจ ืฉืœื ื™ืžืœื™ืฅ ืขืœ ืื›ื™ืคื”.
  • ืžืชื™ ื”ืชื—ื™ืœื” ื—ืงื™ืจืช ื”-SEC? ื”ื—ืงื™ืจื” ื”ืชื—ื™ืœื” ื‘ื”ื–ืžื ื” ืฉื”ื•ืฆืื” ื‘-31 ื‘ืื•ื’ื•ืกื˜ 2023.
  • ื”ืื ื”ื•ื˜ืœื• ืขื•ื ืฉื™ื ืื• ืฉื™ื ื•ื™ื™ื ืขืœ ื”ืงืจืŸ? ืœื ื”ื•ื˜ืœื• ืขื•ื ืฉื™ื, ืฉื™ื ื•ื™ื™ื ืชืคืขื•ืœื™ื™ื ืื• ืžืžืฆืื™ ืขื•ื•ืœื”.
  • ื”ืื ื”ื—ืœื˜ื” ื–ื• ื—ืœื” ืขืœ ื›ืœ ืžื˜ื‘ืขื•ืช ื”ืคืจื˜ื™ื•ืช? ืœื, ื”ืชื•ืฆืื” ื—ืœื” ืจืง ืขืœ ืงืจืŸ ื–ืงืืฉ ื•ืœื ืขืœ ืชื—ื•ื ื”ืžื˜ื‘ืขื•ืช ื”ืคืจื˜ื™ื™ื ื”ืจื—ื‘ ื™ื•ืชืจ.

ืžืืžืจ ื–ื” ืชื•ืจื’ื ืžืื ื’ืœื™ืช ื‘ืืžืฆืขื•ืช ื‘ื™ื ื” ืžืœืื›ื•ืชื™ืช. ื”ื’ืจืกื” ื”ืžืงื•ืจื™ืช ื‘ืื ื’ืœื™ืช ื”ื™ื ื”ืžืงื•ืจ ื”ืงื•ื‘ืข; ืชืจื’ื•ืžื™ื ืื•ื˜ื•ืžื˜ื™ื™ื ืขืฉื•ื™ื™ื ืœื”ื›ื™ืœ ืื™-ื“ื™ื•ืงื™ื, ื‘ืžื™ื•ื—ื“ ื‘ืžื•ื ื—ื™ื ืžืฉืคื˜ื™ื™ื ื•ืจื’ื•ืœื˜ื•ืจื™ื™ื.

ืชื’ื™ื•ืช ื‘ื›ืชื‘ื” ื–ื•