从Robinhood到Bitstamp：传统银行链上构建的合规路径

# ?Robinhood?Bitstamp:?????????????

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????????? Consensus 2026 ???,??????????:???????????????,?????????????,?????????????”?????”,??????????????–? Web3 ??????,??????,?????????

?????:????”???”??”???”

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???”Is the Wall Street Herd STILL Coming?”??????,Robinhood ??????? Bitstamp ??? Nicola White ????????????:????????????????????,????????????,???????????(CoinDesk, 2026-05-06)????????,”???????????????,????????????????”

Ondo ?????????????

Ondo Finance ?? Ian De Bode ???????????????:? Broadridge ???????,? DTCC ????????????????????,Ondo ????????????????????,????????–??????????????????????????,De Bode ??”????????????????”?

Babylon Labs:?????????????

Babylon Labs ? Boris Alergant ??????????????:???????????????????????????????,???????????????????,?????????????????–????????????????????,????????????

?????:????”??????”?????

??????? Web3 ???????

???????????,?????”??????”???????Web3 ??????????????,?????????????????????–?????????????,??????????????????,????????????????

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De Bode ????????????:???????????????? DeFi ??????????????????,”?????????????????????”????,???????,??”????”?”?????”??????????,??????

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??????????”????”??,????????,???????SEC?CFTC ? OCC ?????,?????????????????????,???????????????????????????????,??????

???:???????????

• ????:?????????????????????????????????????????–?????????????Bitstamp ??????????? Robinhood ?????,???????????????????
• KYC/AML ??:???????????????????????????????? KYC/AML ???,??????????????????/?????????????????????????
• ?????:?????(? Ondo ? Broadridge ?????)???? Howey ?????????????????????????????????????????,??????????,???? SEC ???????????
• ???????:??????? CFTC ?????????,???????????????????,?????????????????????? CFO ? CTO ?????????

? Web3 ?????????

????:?????????

Ondo ???????Bitstamp ????????Babylon ?????–??????????:? Web3 ?????????????????????????? Web3 ??????,???????????:???????????????????

?????????

????,????????????? Web3 ???????????????KYC ??????????????,?????????????????????????????,????????????????

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De Bode ?????????:????????–?????????????,???????? DeFi ???Web3 ?????????????????,???????????????????????,??????????

????????????

• ??????????:???????????????????????,???? Howey ????????????????????????,??????????
• ??????????????:OFAC ??????? AML ???????????–?????”????”,??????????????
• ???????????:??????????,?????????????????Bitstamp ?????,????????????????
• ??????????:???????????????????????De Bode ???????–????????????,????????????????

?????

?????????,?????????????–??????? Web3 ??????,???????????????????

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??:CoinDesk – “Wall Street Is Finally Coming to Crypto – But on Its Own Terms”,Jamie Crawley & AI Boost,2026?5?6?

??:Tony,Aiying ????

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