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Emergency Economic Powers 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of Finance\u8a8c\u306b\u767a\u8868\u3057\u305f\u3002\u3053\u306e\u8ad6\u6587\u306b\u306f\u7570\u8ad6\u304c\u3042\u308b\u3002\u8ad6\u6587\u306f\u64a4\u56de\u3055\u308c\u3066\u3044\u306a\u3044\u3002\u305d\u306e\u5f8c\u306eGriffin\u3068Kevin Mei\u306b\u3088\u308b\u30c6\u30ad\u30b5\u30b9\u5927\u5b66\u306e\u7814\u7a76\u3067\u306f\u30014\u5e74\u9593\u3067$750\u5104\u306e\u8c5a\u306e\u5c60\u6bba\u8a50\u6b3a\u306e\u53ce\u76ca\u3092\u8ffd\u8de1\u3057\u3001\u72af\u7f6a\u30d5\u30ed\u30fc\u306e84%\u304cTether\u306b\u5909\u63db\u3055\u308c\u305f\u3053\u3068\u3092\u767a\u898b\u3057\u305f\u3002\u3053\u308c\u3089\u306f\u7121\u95a2\u4fc2\u306a\u4e8b\u5b9f\u3067\u306f\u306a\u3044\u3002Tether\u306f\u540c\u6642\u306b\u3001Bitcoin\u306e\u4fa1\u683c\u304c\u767a\u898b\u3055\u308c\u308b\u624b\u6bb5\u3067\u3042\u308a\u3001\u5927\u898f\u6a21\u306a\u7d44\u7e54\u5316\u3055\u308c\u305f\u6697\u53f7\u5316\u5bfe\u5fdc\u72af\u7f6a\u30d5\u30ed\u30fc\u306e\u4e3b\u8981\u306a\u6c7a\u6e08\u30ec\u30a4\u30e4\u30fc\u3067\u3042\u308a\u300110\u5e74\u4ee5\u4e0a\u306b\u308f\u305f\u3063\u3066\u72ec\u7acb\u3057\u305f\u76e3\u67fb\u304c\u5b8c\u4e86\u3059\u308b\u3053\u3068\u306a\u304f\u3001\u5de8\u5927\u306a\u898f\u6a21\u3067\u904b\u55b6\u3055\u308c\u3066\u304d\u305f\u91d1\u878d\u30a8\u30f3\u30c6\u30a3\u30c6\u30a3\u3067\u3042\u308b\u3002\u30c6\u30b6\u30fc\u304c\u7aef\u6570\u7559\u4fdd\u3055\u308c\u3001\u4fe1\u983c\u304c\u5d29\u308c\u308c\u3070\u3001\u6d41\u52d5\u6027\u306e\u5f15\u304d\u51fa\u3057\u304c\u3059\u3079\u3066\u306e\u6697\u53f7\u901a\u8ca8\u5e02\u5834\u3092\u540c\u6642\u306b\u8972\u3046\u3002\u30b5\u30fc\u30ad\u30c3\u30c8\u30d6\u30ec\u30fc\u30ab\u30fc\u3082\u3001\u6700\u5f8c\u306e\u8cb8\u3057\u624b\u3082\u3001\u81ea\u52d5\u511f\u9084\u3082\u306a\u3044\u3002\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306f\u3001\u5c0f\u6570\u6e96\u5099\u901a\u8ca8\u5236\u5ea6\u306b\u53d6\u3063\u3066\u4ee3\u308f\u308b\u305f\u3081\u306b\u8a2d\u8a08\u3055\u308c\u305f\u3002\u305d\u306e\u4fa1\u683c\u306f\u3001\u305d\u306e1\u3064\u306b\u3088\u3063\u3066\u767a\u898b\u3055\u308c\u305f\u3002.<\/p>\n\n\n\n<p>\u9023\u90a6\u9078\u6319\u59d4\u54e1\u4f1a\u306e\u30c7\u30fc\u30bf\u306b\u3088\u308b\u3068\u30012024\u5e74\u306e\u7c73\u56fd\u306e\u9078\u6319\u30b5\u30a4\u30af\u30eb\u3067\u306f\u3001\u6697\u53f7\u95a2\u9023\u306ePAC\u3068\u95a2\u9023\u56e3\u4f53\u304c\u7d04$2\u51044500\u4e07\u5186\u3092\u96c6\u3081\u3001\u7d04$1\u51049500\u4e07\u5186\u3092\u652f\u51fa\u3057\u305f\u3002Fairshake\u3068\u305d\u306e\u95a2\u9023\u59d4\u54e1\u4f1a\uff08\u4e3b\u306bCoinbase\u3001Ripple\u3001Andreessen Horowitz\u304b\u3089\u8cc7\u91d1\u63d0\u4f9b\u3092\u53d7\u3051\u3066\u3044\u308b\uff09\u304c\u5927\u534a\u3092\u5360\u3081\u305f\u3002\u30d1\u30d6\u30ea\u30c3\u30af\u30fb\u30b7\u30c1\u30ba\u30f3\u306f\u3001\u540c\u5e74\u306e\u4f01\u696d\u653f\u6cbb\u732e\u91d1\u306e\u534a\u5206\u8fd1\u304f\u3092\u30d5\u30a7\u30a2\u30b7\u30a7\u30a4\u30af\u696d\u754c\u304c\u5360\u3081\u305f\u3068\u63a8\u5b9a\u3057\u3066\u3044\u308b\u3002\u305d\u306e\u7d50\u679c\u3001\u4e0a\u4e0b\u4e21\u9662\u3067300\u4eba\u8fd1\u3044\u30af\u30ea\u30d7\u30c8\u63a8\u9032\u6d3e\u8b70\u54e1\u304c\u8a95\u751f\u3057\u3001\u653f\u6a29\u3082\u30af\u30ea\u30d7\u30c8\u306e\u696d\u7e3e\u306b\u76f4\u63a5\u500b\u4eba\u7684\u30fb\u91d1\u92ad\u7684\u306b\u63a5\u3059\u308b\u3053\u3068\u306b\u306a\u3063\u305f\u30022025\u5e741\u6708\u3001\u30c8\u30e9\u30f3\u30d7\u306f\u30b7\u30eb\u30af\u30ed\u30fc\u30c9\u306e\u5275\u8a2d\u8005\u30ed\u30b9\u30fb\u30a6\u30eb\u30d6\u30ea\u30d2\u30c8\u3092\u6069\u8d66\u3057\u305f\u3002\u30b7\u30eb\u30af\u30ed\u30fc\u30c9\u306f2013\u5e74\u306bFBI\u306b\u62bc\u53ce\u3055\u308c\u308b\u307e\u3067\u3001\u4e3b\u306b\u9ebb\u85ac\u8ca9\u58f2\u306e\u305f\u3081\u306b12\u5104\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u53d6\u5f15\u3092\u51e6\u7406\u3057\u3066\u3044\u305f\u30c0\u30fc\u30af\u30cd\u30c3\u30c8\u30fb\u30de\u30fc\u30b1\u30c3\u30c8\u30d7\u30ec\u30a4\u30b9\u3067\u3001\u4eee\u91c8\u653e\u306a\u3057\u306e\u7d42\u8eab\u5211\u3067\u670d\u5f79\u3057\u3066\u3044\u305f\u3002\u6069\u8d66\u306f\u81ea\u7531\u3092\u7269\u8a9e\u308b\u3082\u306e\u3060\u3063\u305f\u3002\u4e00\u90e8\u306e\u8074\u8846\u306b\u306f\u3001\u3088\u308a\u5177\u4f53\u7684\u306a\u3082\u306e\u3068\u3057\u3066\u53d7\u3051\u6b62\u3081\u3089\u308c\u305f\u3002\u6697\u53f7\u306e\u904b\u7528\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306b\u5bfe\u3059\u308b\u73fe\u653f\u6a29\u306e\u5bdb\u5bb9\u3055\u306b\u3064\u3044\u3066\u306e\u30b7\u30b0\u30ca\u30eb\u3067\u3042\u308b\u3002Fairshake\u306f1\u6708\u306e\u6642\u70b9\u3067\u30012026\u5e74\u306e\u4e2d\u9593\u9078\u6319\u306e\u305f\u3081\u306b$1\u51049300\u4e07\u30c9\u30eb\u3092\u624b\u5143\u306b\u7f6e\u3044\u3066\u3044\u305f\u3002\u696d\u754c\u306f\u4fdd\u8b77\u3092\u8cb7\u3046\u3053\u3068\u304c\u3067\u304d\u308b\u3002\u305d\u308c\u306f\u6c38\u4e45\u306b\u8cb7\u3046\u3053\u3068\u306f\u3067\u304d\u306a\u3044\u3002.<\/p>\n\n\n\n<p>\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u306f\u3081\u3063\u305f\u306b\u540d\u524d\u3092\u6319\u3052\u306a\u3044\u305f\u3081\u3001Monero\u3082\u76f4\u63a5\u540d\u524d\u3092\u6319\u3052\u308b\u4fa1\u5024\u304c\u3042\u308b\u3002Monero\u306f\u3001\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u304c\u53d7\u3051\u5165\u308c\u306a\u3044\u30d7\u30ed\u30c8\u30b3\u30eb\u306e\u5909\u66f4\u306a\u3057\u306b\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u304c\u89e3\u6c7a\u3067\u304d\u306a\u3044\u30d7\u30e9\u30a4\u30d0\u30b7\u30fc\u306e\u554f\u984c\u3092\u89e3\u6c7a\u3059\u308b\u3002\u30c8\u30e9\u30f3\u30b6\u30af\u30b7\u30e7\u30f3\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u3067\u30d9\u30fc\u30b9\u30ec\u30a4\u30e4\u30fc\u3067\u79d8\u533f\u3055\u308c\u3001\u91d1\u984d\u3001\u9001\u4fe1\u8005\u3001\u53d7\u4fe1\u8005\u306f\u3059\u3079\u3066\u96a0\u853d\u3055\u308c\u308b\u3002\u56fd\u7a0e\u5e81\u306f\u30e2\u30cd\u30ed\u30fb\u30c8\u30ec\u30fc\u30b7\u30f3\u30b0\u30fb\u30c4\u30fc\u30eb\u3092\u958b\u767a\u3059\u308b\u305f\u3081\u30012\u3064\u306e2020\u5e74\u5951\u7d04\uff081\u3064\u306fChainalysis\u793e\u3001\u3082\u30461\u3064\u306fIntegra FEC\u793e\uff09\u306b\u5408\u8a08$125\u4e07\u30c9\u30eb\u3092\u652f\u6255\u3063\u305f\u3002\u8907\u6570\u306e\u53d6\u5f15\u6240\u304c\u898f\u5236\u5f53\u5c40\u306e\u5727\u529b\u3092\u53d7\u3051\u3066\u4e0a\u5834\u5ec3\u6b62\u306b\u306a\u3063\u305f\u3002\u30cf\u30a4\u30a8\u30f3\u30c9\u306e\u30c0\u30fc\u30af\u30cd\u30c3\u30c8\u5e02\u5834\u306f\u30e2\u30cd\u30ed\u306b\u79fb\u884c\u3057\u305f\u3002\u30e2\u30cd\u30ed\u306f\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u304c\u305d\u306e\u4e2d\u6838\u7684\u30a2\u30a4\u30c7\u30f3\u30c6\u30a3\u30c6\u30a3\u3068\u3057\u3066\u4e3b\u5f35\u3059\u308b\u6027\u8cea\u306b\u304a\u3044\u3066\u7d14\u7c8b\u306b\u512a\u308c\u3066\u3044\u308b\u304c\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u304b\u3089\u306e\u53cd\u5fdc\u306f\u3001\u3053\u306e\u3053\u3068\u306b\u3064\u3044\u3066\u8b70\u8ad6\u3057\u306a\u3044\u3053\u3068\u3067\u3042\u3063\u305f\u3002.<\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-c2f06a1292e3d32538c185aee48fb1ad\"><strong>\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u5b9f\u969b\u306e\u52d5\u304d<\/strong><\/p>\n\n\n\n<p>\u3053\u306e\u30bb\u30af\u30b7\u30e7\u30f3\u3067\u306f\u3001\u72af\u7f6a\u6c7a\u6e08\u30a4\u30f3\u30d5\u30e9\u3068\u3057\u3066\u306e\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u5f79\u5272\u3092\u53d6\u308a\u4e0a\u3052\u308b\u3002\u3053\u308c\u306f\u9053\u5fb3\u7684\u306a\u5224\u65ad\u3068\u3057\u3066\u3067\u306f\u306a\u304f\u3001\u3053\u306e\u8a18\u4e8b\u306e\u3059\u3079\u3066\u306e\u898f\u5236\u30b7\u30ca\u30ea\u30aa\u3068\u3059\u3079\u3066\u306e\u653f\u6cbb\u7684\u30ea\u30b9\u30af\u306e\u4e2d\u5fc3\u3060\u304b\u3089\u3067\u3042\u308b\u3002\u3053\u308c\u3092\u7701\u7565\u3057\u305f\u5206\u6790\u306f\u3001\u4e0d\u90fd\u5408\u306a\u6750\u6599\u3092\u53d6\u308a\u9664\u3044\u305f\u64c1\u8b77\u3068\u306a\u308b\u3002.<\/p>\n\n\n\n<p>\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u5206\u6790\u4f01\u696d\u306e\u63a8\u8a08\u306b\u3088\u308b\u3068\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u7dcf\u6d3b\u52d5\u306b\u5360\u3081\u308b\u4e0d\u6b63\u53d6\u5f15\u91cf\u306e\u5272\u5408\u306f\u5927\u5e45\u306b\u6e1b\u5c11\u3057\u3066\u304a\u308a\u3001\u5408\u6cd5\u7684\u306a\u53d6\u5f15\u91cf\u304c\u72af\u7f6a\u5229\u7528\u3088\u308a\u3082\u6025\u901f\u306b\u5897\u52a0\u3057\u305f\u305f\u3081\u30012019\u5e74\u306b\u306f\u304a\u3088\u305d3.5%\u3067\u3042\u3063\u305f\u3082\u306e\u304c\u30012024\u5e74\u306b\u306f1%\u4ee5\u4e0b\u306b\u307e\u3067\u6e1b\u5c11\u3057\u3066\u3044\u308b\u3002\u3053\u308c\u3089\u306e\u63a8\u8a08\u306e\u80cc\u5f8c\u306b\u3042\u308b\u65b9\u6cd5\u8ad6\u3068\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u306f\u8ad6\u4e89\u306e\u7684\u3068\u306a\u3063\u3066\u3044\u308b\u3002\u3053\u308c\u3089\u306e\u63a8\u8a08\u3092\u4f5c\u6210\u3057\u3066\u3044\u308b\u4f01\u696d\u306f\u3001\u30c7\u30fc\u30bf\u304c\u305d\u306e\u884c\u52d5\u3092\u6b63\u5f53\u5316\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u3066\u3044\u308b\u53d6\u5f15\u6240\u3084\u6cd5\u57f7\u884c\u6a5f\u95a2\u3068\u5546\u696d\u5951\u7d04\u3092\u7d50\u3093\u3067\u3044\u308b\u3002\u3055\u3089\u306b2\u3064\u306e\u8907\u96d1\u306a\u554f\u984c\u304c\u3042\u308b\u3002\u7b2c\u4e00\u306b\u3001\u306f\u308b\u304b\u306b\u5927\u304d\u306a\u7dcf\u984d\u306b\u9069\u7528\u3055\u308c\u308b\u5272\u5408\u304c\u4f4e\u3044\u3068\u3001\u7d76\u5bfe\u7684\u306a\u6570\u5b57\u304c\u5927\u304d\u304f\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u72af\u7f6a\u5229\u7528\u304c$1,000\u5104\u306e3.5%\u304b\u3089$2\u5146\u306e0.8%\u306b\u6e1b\u5c11\u3057\u305f\u5834\u5408\u3001\u72af\u7f6a\u306e\u7d76\u5bfe\u91cf\u306f\u5897\u52a0\u3059\u308b\u3002\u7b2c\u4e8c\u306b\u3001\u4f1d\u7d71\u7684\u306a\u91d1\u878d\u3068\u306e\u6bd4\u8f03\u306f\u3001\u53cc\u65b9\u5411\u3067\u5207\u65ad\u3055\u308c\u308b\u3002\u30d5\u30a3\u30a2\u30c3\u30c8\u91d1\u878d\u30b7\u30b9\u30c6\u30e0\u306f\u3001\u6b74\u53f2\u7684\u306b\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306b\u306f\u306a\u304b\u3063\u305fKYC\u8981\u4ef6\u306e\u4e0b\u3067\u904b\u7528\u3055\u308c\u3066\u3044\u308b\u304c\u3001\u5927\u624b\u9280\u884c\u306f\u3001\u307b\u3068\u3093\u3069\u306e\u6697\u53f7\u901a\u8ca8\u306e\u8a34\u8ffd\u3092\u51cc\u99d5\u3059\u308b\u898f\u6a21\u3067\u30de\u30cd\u30fc\u30ed\u30f3\u30c0\u30ea\u30f3\u30b0\u306b\u5bfe\u3057\u3066\u6570\u767e\u5104\u306e\u7f70\u91d1\u3092\u652f\u6255\u3063\u3066\u3044\u308b\u3002\u3053\u306e\u3053\u3068\u304c\u610f\u5473\u3059\u308b\u306e\u306f\u3001\u5272\u5408\u306e\u6e1b\u5c11\u3068\u3044\u3046\u8b70\u8ad6\u306f\u73fe\u5b9f\u7684\u3067\u306f\u3042\u308b\u304c\u3001\u81ea\u5df1\u89e3\u91c8\u3067\u306f\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u305d\u308c\u306f\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u72af\u7f6a\u30b7\u30a7\u30a2\u304c\u305d\u306e\u5408\u6cd5\u7684\u306a\u4f7f\u7528\u3068\u6bd4\u8f03\u3057\u3066\u7e2e\u5c0f\u3057\u3066\u3044\u308b\u8a3c\u62e0\u3067\u3042\u308b\u3002\u305d\u308c\u306f\u3001\u72af\u7f6a\u5229\u7528\u304c\u7d76\u5bfe\u7684\u306b\u7e2e\u5c0f\u3057\u3066\u3044\u308b\u8a3c\u62e0\u3067\u306f\u306a\u304f\u3001\u898f\u5236\u3055\u308c\u305f\u4ee3\u66ff\u624b\u6bb5\u3068\u306e\u6bd4\u8f03\u306b\u6c7a\u7740\u3092\u3064\u3051\u308b\u3082\u306e\u3067\u3082\u306a\u3044\u3002.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Panorama_View_of_Sihanoukville_from_Otres_Beach_cropped-1024x682.webp\" alt=\"\" class=\"wp-image-3882\" srcset=\"https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Panorama_View_of_Sihanoukville_from_Otres_Beach_cropped-1024x682.webp 1024w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Panorama_View_of_Sihanoukville_from_Otres_Beach_cropped-300x200.webp 300w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Panorama_View_of_Sihanoukville_from_Otres_Beach_cropped-768x511.webp 768w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Panorama_View_of_Sihanoukville_from_Otres_Beach_cropped-1536x1023.webp 1536w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Panorama_View_of_Sihanoukville_from_Otres_Beach_cropped-18x12.webp 18w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Panorama_View_of_Sihanoukville_from_Otres_Beach_cropped-631x420.webp 631w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Panorama_View_of_Sihanoukville_from_Otres_Beach_cropped-640x426.webp 640w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Panorama_View_of_Sihanoukville_from_Otres_Beach_cropped-681x454.webp 681w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Panorama_View_of_Sihanoukville_from_Otres_Beach_cropped.webp 2000w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">\u30a6\u30a3\u30ad\u30da\u30c7\u30a3\u30a2 - \u30b7\u30a2\u30cc\u30fc\u30af\u30d3\u30eb\u7d4c\u6e08\u7279\u533a\u306f\u3001\u30ab\u30b8\u30ce\u3001\u30db\u30c6\u30eb\u3001\u30aa\u30d5\u30a3\u30b9\u3001\u4f4f\u5b85\u306a\u3069\u306e\u8a50\u6b3a\u30bb\u30f3\u30bf\u30fc\u3092\u62b1\u3048\u308b\u3002.<\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-0ac30c6a9b93509554d0c653df8d3244\"><strong>\u8c5a\u306e\u5c60\u6bba\uff1a\u9283\u3092\u7a81\u304d\u3064\u3051\u3089\u308c\u305f20\u4e07\u4eba\u306e\u4eba\u3005<\/strong><\/p>\n\n\n\n<p>\u30c6\u30ad\u30b5\u30b9\u5927\u5b66\u306e\u30b8\u30e7\u30f3\u30fb\u30b0\u30ea\u30d5\u30a3\u30f3\u6559\u6388\u3068\u5927\u5b66\u9662\u751f\u306e\u30b1\u30d3\u30f3\u30fb\u30e1\u30a4\u304c\u30014,000\u4eba\u4ee5\u4e0a\u306e\u8c5a\u306e\u5c60\u6bba\u88ab\u5bb3\u8005\u306e\u6697\u53f7\u901a\u8ca8\u306e\u6d41\u308c\u3092\u8ffd\u8de1\u3057\u305f\u3068\u3053\u308d\u30012020\u5e741\u6708\u304b\u30892024\u5e742\u6708\u307e\u3067\u306e4\u5e74\u9593\u3067\u3001\u72af\u7f6a\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u304c\u6697\u53f7\u901a\u8ca8\u53d6\u5f15\u6240\u306b$750\u5104\u5186\u4ee5\u4e0a\uff081\u5e74\u3042\u305f\u308a\u304a\u3088\u305d$190\u5104\u5186\uff09\u3092\u9001\u91d1\u3057\u3066\u3044\u308b\u3053\u3068\u304c\u308f\u304b\u3063\u305f\u3002\u305d\u306e\u3046\u306184\uff05\u306f\u30c6\u30b6\u30fc\uff08Tether\uff09\u306b\u63db\u91d1\u3055\u308c\u305f\u3002FBI\u306e2024\u5e74\u30a4\u30f3\u30bf\u30fc\u30cd\u30c3\u30c8\u72af\u7f6a\u5831\u544a\u66f8\u306b\u3088\u308b\u3068\u3001\u30a2\u30e1\u30ea\u30ab\u4eba\u3060\u3051\u3067\u30aa\u30f3\u30e9\u30a4\u30f3\u6295\u8cc7\u8a50\u6b3a\u306b\u3088\u308a$6.5\u5104\u30c9\u30eb\u4ee5\u4e0a\u306e\u640d\u5931\u304c\u767a\u751f\u3057\u3066\u304a\u308a\u3001\u3053\u308c\u306f\u30a4\u30f3\u30bf\u30fc\u30cd\u30c3\u30c8\u72af\u7f6a\u306e\u5358\u4e00\u30ab\u30c6\u30b4\u30ea\u30fc\u3067\u6700\u5927\u306e\u640d\u5931\u984d\u3067\u3042\u308b\u3002\u56fd\u9023\u4eba\u6a29\u4e8b\u52d9\u6240\u306f\u3001\u30df\u30e3\u30f3\u30de\u30fc\u3001\u30ab\u30f3\u30dc\u30b8\u30a2\u3001\u30e9\u30aa\u30b9\u3067\u306f\u73fe\u572820\u4e07\u4eba\u4ee5\u4e0a\u304c\u8a50\u6b3a\u65bd\u8a2d\u306b\u62d8\u675f\u3055\u308c\u3066\u3044\u308b\u3068\u63a8\u5b9a\u3057\u3066\u3044\u308b\u3002.<\/p>\n\n\n\n<p>\u3053\u306e20\u4e07\u4eba\u306f\u30dc\u30e9\u30f3\u30c6\u30a3\u30a2\u3067\u306f\u306a\u3044\u3002\u5f7c\u3089\u306f\u8a50\u6b3a\u307e\u304c\u3044\u306e\u4ed5\u4e8b\u306e\u4f9d\u983c\u3067\u30ea\u30af\u30eb\u30fc\u30c8\u3055\u308c\u3001\u56fd\u5883\u3092\u8d8a\u3048\u3066\u79fb\u9001\u3055\u308c\u3001\u30d1\u30b9\u30dd\u30fc\u30c8\u3092\u6ca1\u53ce\u3055\u308c\u3001\u66b4\u529b\u306e\u8105\u5a01\u306b\u3055\u3089\u3055\u308c\u306a\u304c\u3089\u3001\u4e16\u754c\u4e2d\u306e\u88ab\u5bb3\u8005\u306b\u5bfe\u3057\u3066\u9577\u671f\u306b\u308f\u305f\u308b\u604b\u611b\u8a50\u6b3a\u3084\u6295\u8cc7\u8a50\u6b3a\u3092\u5f37\u8981\u3055\u308c\u3066\u3044\u308b\u306e\u3060\u3002\u30aa\u30da\u30ec\u30fc\u30bf\u30fc\u306f\u3001\u5e74\u9f62\u3001\u8cc7\u7523\u3001\u611f\u60c5\u7684\u8106\u5f31\u6027\u3001\u96e2\u5a5a\u3084\u6b7b\u5225\u3068\u3044\u3063\u305f\u6700\u8fd1\u306e\u30e9\u30a4\u30d5\u30a4\u30d9\u30f3\u30c8\u306b\u3088\u3063\u3066\u30bb\u30b0\u30e1\u30f3\u30c8\u5316\u3055\u308c\u305f\u30bf\u30fc\u30b2\u30c3\u30c8\u30fb\u30c7\u30fc\u30bf\u30fb\u30d1\u30c3\u30b1\u30fc\u30b8\u3092\u8cfc\u5165\u3059\u308b\u3002\u88ab\u5bb3\u8005\u306f\u6570\u9031\u9593\u304b\u3089\u6570\u30ab\u6708\u306b\u308f\u305f\u3063\u3066\u52e7\u8a98\u3055\u308c\u3001\u3067\u3063\u3061\u4e0a\u3052\u3089\u308c\u305f\u30ea\u30bf\u30fc\u30f3\u3092\u898b\u305b\u3089\u308c\u3001\u3055\u3089\u306b\u6295\u8cc7\u3059\u308b\u3088\u3046\u52e7\u3081\u3089\u308c\u3001\u8cc7\u91d1\u304c\u30ed\u30c3\u30af\u3055\u308c\u3001\u5f15\u304d\u51fa\u3059\u306b\u306f\u624b\u6570\u6599\u3092\u652f\u6255\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3068\u544a\u3052\u3089\u308c\u308b\u3002\u305d\u306e\u624b\u6570\u6599\u306f\u540c\u3058\u904b\u7528\u306e\u4e2d\u306b\u6d88\u3048\u3066\u3044\u304f\u3002\u9003\u3052\u3088\u3046\u3068\u3057\u3066\u6bba\u3055\u308c\u308b\u8005\u3082\u3044\u308b\u3002.<\/p>\n\n\n\n<p>\u6c7a\u6e08\u30ec\u30fc\u30eb\u304c\u6697\u53f7\u5316\u3055\u308c\u3066\u3044\u308b\u306e\u306f\u3001\u8fc5\u901f\u3067\u3001\u56fd\u5883\u304c\u306a\u304f\u3001\u4e0d\u53ef\u9006\u7684\u3067\u3001\u6cd5\u57f7\u884c\u6a5f\u95a2\u304c\u51cd\u7d50\u3067\u304d\u308b\u30b3\u30eb\u30ec\u30b9\u9280\u884c\u304b\u3089\u72ec\u7acb\u3057\u305f\u30e1\u30ab\u30cb\u30ba\u30e0\u304c\u5fc5\u8981\u3060\u304b\u3089\u3060\u3002\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3068\u30c6\u30b6\u30fc\u306f\u4ed8\u968f\u7684\u306a\u3082\u306e\u3067\u306f\u306a\u3044\u3002\u3053\u308c\u3089\u306f\u904b\u7528\u4e0a\u306e\u5fc5\u8981\u6761\u4ef6\u306a\u306e\u3060\u3002\u53ef\u9006\u6027\u3068\u8a31\u53ef\u5236\u30a2\u30af\u30bb\u30b9\u304c\u89e3\u6c7a\u7b56\u3067\u3042\u308a\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u8a2d\u8a08\u539f\u5247\u3068\u306f\u76f8\u5bb9\u308c\u306a\u3044\u3002\u3053\u308c\u306f\u3001\u6cd5\u5f8b\u3084\u653f\u7b56\u306e\u8b70\u8ad6\u306b\u304a\u3044\u3066\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u30d1\u30fc\u30df\u30c3\u30b7\u30e7\u30f3\u30ec\u30b9\u30a2\u30fc\u30ad\u30c6\u30af\u30c1\u30e3\u306b\u5bfe\u3059\u308b\u4e3b\u8981\u306a\u8b70\u8ad6\u306e1\u3064\u3068\u306a\u3063\u3066\u304a\u308a\u3001\u696d\u754c\u306f\u5e83\u304f\u53d7\u3051\u5165\u308c\u3089\u308c\u308b\u7b54\u3048\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u306a\u3044\u3002.<\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-fd39ba896cd2e1904a28b04d13026a0d\"><strong>\u5317\u671d\u9bae\uff1a$6\u5104\u30c9\u30eb\u3001\u89e3\u6563\u3057\u305f\u56fd\u9023\u30d1\u30cd\u30eb\u3001\u5927\u91cf\u7834\u58ca\u5175\u5668\u8a08\u753b<\/strong><\/p>\n\n\n\n<p>\u30ed\u30b7\u30a2\u304c2024\u5e744\u6708\u306b\u56fd\u9023\u5317\u671d\u9bae\u5c02\u9580\u5bb6\u30d1\u30cd\u30eb\u306e\u6a29\u9650\u66f4\u65b0\u306b\u62d2\u5426\u6a29\u3092\u884c\u4f7f\u3057\u3066\u4ee5\u6765\u3001\u5317\u671d\u9bae\u306e\u6697\u53f7\u901a\u8ca8\u76d7\u96e3\u306e\u8ffd\u8de1\u306f\u6c11\u9593\u5206\u6790\u4f1a\u793e\u3068\u7c73\u56fd\u653f\u5e9c\u306b\u59d4\u306d\u3089\u308c\u3066\u3044\u308b\u3002Chainalysis\u306f\u30012024\u5e74\u3060\u3051\u306713.4\u5104TP\u306e\u6697\u53f7\u901a\u8ca8\u7a83\u76d7\u304c\u5317\u671d\u9bae\u306e\u56fd\u5bb6\u652f\u63f4\u30b0\u30eb\u30fc\u30d7\u306b\u3088\u308b\u3082\u306e\u3067\u3042\u308a\u3001\u3053\u308c\u306f\u305d\u306e\u5e74\u306b\u4e16\u754c\u3067\u7a83\u76d7\u3055\u308c\u305f\u6697\u53f7\u901a\u8ca8\u5168\u4f53\u306e61%\u306b\u3042\u305f\u308b\u3068\u3057\u3066\u3044\u308b\u3002\u305d\u3057\u30662025\u5e742\u6708\u3001Lazarus Group\u306f\u5192\u982d\u3067\u8aac\u660e\u3057\u305f\u653b\u6483\u3067Bybit\u304b\u308915\u5104TP4T\u3092\u76d7\u307f\u30012024\u5e74\u306e\u5168\u76d7\u53d6\u984d\u30921\u56de\u306e\u4f5c\u696d\u3067\u4e0a\u56de\u3063\u305f\u3002Elliptic\u793e\u306f\u30012017\u5e74\u4ee5\u964d\u306e\u5317\u671d\u9bae\u306b\u3088\u308b\u6697\u53f7\u901a\u8ca8\u306e\u76d7\u96e3\u7dcf\u984d\u306f$6\u5104\u30c9\u30eb\u4ee5\u4e0a\u3068\u63a8\u5b9a\u3057\u3066\u3044\u308b\u3002.<\/p>\n\n\n\n<p>\u76d7\u307e\u308c\u305f\u8cc7\u91d1\u306f\u5317\u671d\u9bae\u306e\u5f3e\u9053\u30df\u30b5\u30a4\u30eb\u3068\u6838\u5175\u5668\u30d7\u30ed\u30b0\u30e9\u30e0\u306e\u8cc7\u91d1\u3068\u306a\u3063\u3066\u3044\u308b\u3002\u3053\u308c\u306fFBI\u3001\u53f8\u6cd5\u7701\u3001\u7c73\u8ca1\u52d9\u7701\u306e\u6587\u66f8\u5316\u3055\u308c\u305f\u6240\u898b\u3067\u3042\u308a\u3001\u72ec\u7acb\u3057\u305f\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u5206\u6790\u306b\u3088\u3063\u3066\u88cf\u4ed8\u3051\u3089\u308c\u3066\u3044\u308b\u3002\u6697\u53f7\u901a\u8ca8\u898f\u5236\u306b\u95a2\u3059\u308b\u56fd\u5bb6\u5b89\u5168\u4fdd\u969c\u306e\u6a5f\u5bc6\u4e8b\u9805\u8aac\u660e\u4f1a\u3067\u3001\u3053\u306e\u3053\u3068\u304c\u7701\u304b\u308c\u308b\u3053\u3068\u306f\u8003\u3048\u3089\u308c\u306a\u3044\u3002\u6697\u53f7\u901a\u8ca8\u306e\u6cd5\u6848\u306b\u6295\u7968\u3059\u308b\u4eba\u3005\u306f\u3001\u3053\u306e\u6280\u8853\u304c\u6570\u767e\u4e07\u4eba\u3092\u6bba\u305b\u308b\u5175\u5668\u3092\u958b\u767a\u3059\u308b\u30d7\u30ed\u30b0\u30e9\u30e0\u306e\u4e3b\u8981\u306a\u53ce\u5165\u6e90\u3067\u3042\u308b\u3053\u3068\u3092\u3001\u5177\u4f53\u7684\u306b\u8a73\u3057\u304f\u805e\u304b\u3055\u308c\u3066\u3044\u308b\u3002\u91d1\u878d\u54f2\u5b66\u306e\u8b70\u8ad6\u306f\u3001\u30d5\u30a3\u30eb\u30bf\u30fc\u306b\u304b\u3051\u3089\u308c\u305a\u306b\u305d\u306e\u90e8\u5c4b\u306b\u5c4a\u304f\u3053\u3068\u306f\u306a\u3044\u3002.<\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-e81856c1b2752106ab6fd19ff073cba8\"><strong>\u30d0\u30a4\u30ca\u30f3\u30b9\u3001\u9023\u90a6\u88c1\u5224\u6240\u3067\u8a8d\u3081\u308b<\/strong><\/p>\n\n\n\n<p>2023\u5e7411\u6708\u3001\u53d6\u5f15\u9ad8\u3067\u4e16\u754c\u6700\u5927\u306e\u6697\u53f7\u901a\u8ca8\u53d6\u5f15\u6240\u3067\u3042\u308b\u30d0\u30a4\u30ca\u30f3\u30b9\u306f\u3001\u9023\u90a6\u30de\u30cd\u30fc\u30ed\u30f3\u30c0\u30ea\u30f3\u30b0\u5bb9\u7591\u3092\u8a8d\u3081\u305f\u3002\u8a8d\u3081\u3089\u308c\u305f\u884c\u70ba\u306b\u306f\u3001\u30a4\u30e9\u30f3\u306e\u91d1\u878d\u6a5f\u95a2\u3092\u542b\u3080OFAC\u306e\u5236\u88c1\u5bfe\u8c61\u56e3\u4f53\u3078\u306e\u53d6\u5f15\u51e6\u7406\u3001\u30a2\u30eb\u30ab\u30a4\u30c0\u3084\u30cf\u30de\u30b9\u95a2\u9023\u56e3\u4f53\u3078\u306e\u53d6\u5f15\u51e6\u7406\u304c\u542b\u307e\u308c\u3066\u3044\u305f\u3002\u691c\u5bdf\u5f53\u5c40\u304c\u5f15\u7528\u3057\u305f\u5185\u90e8\u901a\u4fe1\u306b\u306f\u3001\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u62c5\u5f53\u8005\u304c\u4f1a\u793e\u306e\u30c6\u30ed\u8cc7\u91d1\u4f9b\u4e0e\u306e\u66b4\u9732\u306b\u3064\u3044\u3066\u660e\u78ba\u306b\u8b70\u8ad6\u3057\u3066\u3044\u305f\u3053\u3068\u304c\u793a\u3055\u308c\u3066\u3044\u308b\u3002Changpeng Zhao\u306f\u500b\u4eba\u7684\u306b\u6709\u7f6a\u3092\u8a8d\u3081\u3001\u7c73\u56fd\u306e\u9023\u90a6\u65bd\u8a2d\u30674\u30f6\u6708\u9593\u670d\u5f79\u3057\u305f\u3002\u53d6\u5f15\u6240\u306f$4.3\u5104\u306e\u7f70\u91d1\u3092\u652f\u6255\u3044\u3001\u55b6\u696d\u3092\u7d99\u7d9a\u3057\u305f\u3002.<\/p>\n\n\n\n<p>\u3053\u308c\u306f\u898f\u5236\u4e0a\u306e\u61f8\u5ff5\u3084\u7533\u3057\u7acb\u3066\u3067\u306f\u306a\u3044\u3002\u9023\u90a6\u88c1\u5224\u6240\u3067\u5ba3\u8a93\u306e\u4e0a\u3001\u5185\u90e8\u6587\u66f8\u306b\u3088\u3063\u3066\u88cf\u4ed8\u3051\u3089\u308c\u305f\u544a\u767d\u3067\u3042\u308b\u3002\u4e16\u754c\u7684\u306a\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u4fa1\u683c\u767a\u898b\u3067\u6700\u5927\u306e\u53d6\u5f15\u6240\u306f\u3001\u30c6\u30ed\u7d44\u7e54\u3078\u306e\u652f\u6255\u3044\u3092\u51e6\u7406\u3057\u305f\u3053\u3068\u3092\u8a8d\u3081\u305f\u3002\u305d\u306e\u7d99\u7d9a\u7684\u306a\u904b\u55b6\u306f\u3001\u6df1\u523b\u306a\u6697\u53f7\u901a\u8ca8\u91d1\u878d\u72af\u7f6a\u306e\u5b9f\u969b\u306e\u7d50\u679c\u304c\u3069\u306e\u3088\u3046\u306a\u3082\u306e\u3067\u3042\u308b\u304b\u3092\u3001\u3059\u3079\u3066\u306e\u5e02\u5834\u53c2\u52a0\u8005\u306b\u4f1d\u3048\u3066\u3044\u308b\u3002\u305d\u308c\u3089\u306f\u7ba1\u7406\u53ef\u80fd\u3067\u3042\u308b\u3002.<\/p>\n\n\n\n<p 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Video\u306f2015\u5e74\u304b\u30892018\u5e74\u307e\u3067\u904b\u55b6\u3055\u308c\u3001\u5150\u7ae5\u6027\u7684\u8650\u5f85\u8cc7\u6599\u3078\u306e\u30a2\u30af\u30bb\u30b9\u306b\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3092\u8ab2\u91d1\u3057\u3066\u3044\u305f\u3002IRS\u306e\u72af\u7f6a\u635c\u67fb\u90e8\u9580\u306f\u3001\u30aa\u30f3\u30c1\u30a7\u30fc\u30f3\u3067\u306e\u652f\u6255\u3044\u3092\u8ffd\u8de1\u3057\u300138\u30ab\u56fd\u306b\u307e\u305f\u304c\u308b337\u4eba\u306e\u902e\u6355\u8005\u3092\u78ba\u4fdd\u3057\u305f\u3002\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3092\u4e2d\u5fc3\u3068\u3057\u305fCSAM\u8d77\u8a34\u306e\u653f\u6cbb\u7684\u306a\u91cd\u307f\u306f\u3001\u7406\u8ad6\u7684\u306a\u3082\u306e\u3067\u306f\u306a\u3044\u3002\u3053\u306e\u95a2\u9023\u306f\u88c1\u5224\u8a18\u9332\u3068\u306a\u3063\u3066\u3044\u308b\u3002.<\/p>\n\n\n\n<p>\u30e9\u30f3\u30b5\u30e0\u30a6\u30a7\u30a2\u306f\u6210\u719f\u3057\u305f\u696d\u754c\u3067\u3042\u308a\u3001\u9867\u5ba2\u30b5\u30fc\u30d3\u30b9\u30c1\u30fc\u30e0\u3001\u6bb5\u968e\u7684\u306a\u4fa1\u683c\u8a2d\u5b9a\u3001\u30a2\u30d5\u30a3\u30ea\u30a8\u30a4\u30c8\u306e\u53ce\u76ca\u5206\u914d\u306a\u3069\u3001\u75c5\u9662\u304c\u4eba\u547d\u3092\u5371\u967a\u306b\u3055\u3089\u3059\u3088\u308a\u3082\u60a3\u8005\u8a18\u9332\u3078\u306e\u30a2\u30af\u30bb\u30b9\u3092\u56de\u5fa9\u3055\u305b\u308b\u305f\u3081\u306b\u304a\u91d1\u3092\u6255\u3046\u305f\u3081\u3001\u533b\u7642\u3092\u6a19\u7684\u306b\u3059\u308b\u3053\u3068\u304c\u8a18\u9332\u3055\u308c\u3066\u3044\u308b\u30022024\u5e74\u521d\u982d\u306b\u767a\u751f\u3057\u305fChange Healthcare\u306e\u653b\u6483\u3067\u306f\u3001\u7c73\u56fd\u306e\u60a3\u8005\u8a18\u9332\u306e\u304a\u3088\u305d3\u5206\u306e1\u306e\u652f\u6255\u3044\u51e6\u7406\u304c\u505c\u6b62\u3055\u308c\u3001\u4e00\u90e8\u306e\u75c5\u9662\u306f\u7d19\u306b\u623b\u3059\u3053\u3068\u3092\u4f59\u5100\u306a\u304f\u3055\u308c\u305f\u3002\u5831\u544a\u3055\u308c\u305f\u8eab\u4ee3\u91d1\u306f$2,200\u4e07\u30c9\u30eb\u3060\u3063\u305f\u3002\u30e9\u30f3\u30b5\u30e0\u30a6\u30a7\u30a2\u304c\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3092\u4f7f\u3046\u306e\u306f\u3001\u8ffd\u8de1\u4e0d\u53ef\u80fd\u3060\u304b\u3089\u3067\u306f\u306a\u304f\u3001\u56fd\u969b\u7684\u306a\u6cd5\u57f7\u884c\u6a5f\u95a2\u304c\u56fd\u5883\u3092\u8d8a\u3048\u305f\u5bfe\u5fdc\u3092\u8abf\u6574\u3059\u308b\u3088\u308a\u3082\u65e9\u304f\u3001\u30ed\u30b8\u30b9\u30c6\u30a3\u30af\u30b9\u306e\u554f\u984c\u3092\u89e3\u6c7a\u3067\u304d\u308b\u304b\u3089\u3067\u3042\u308b\u3002\u3053\u306e\u5229\u70b9\u306f\u4eca\u5f8c\u3082\u7d9a\u304f\u3002.<\/p>\n\n\n\n<p>2018\u5e742\u6708\u306e\u53f8\u6cd5\u7701\u306b\u3088\u308b\u30a4\u30f3\u30bf\u30fc\u30cd\u30c3\u30c8\u30fb\u30ea\u30b5\u30fc\u30c1\u30fb\u30a8\u30fc\u30b8\u30a7\u30f3\u30b7\u30fc\u306e\u8d77\u8a34\u72b6\u3068\u30012018\u5e747\u6708\u306eGRU\u5e79\u90e812\u4eba\u306e\u8d77\u8a34\u72b6\u306f\u3001\u3044\u305a\u308c\u3082\u30ed\u30b7\u30a2\u306e\u9078\u6319\u5e72\u6e09\u4f5c\u6226\u306b\u304a\u3051\u308b\u6697\u53f7\u901a\u8ca8\u306e\u4f7f\u7528\uff08\u30b5\u30fc\u30d0\u30fc\u30a4\u30f3\u30d5\u30e9\u3001VPN\u3001\u30c9\u30e1\u30a4\u30f3\u767b\u9332\uff09\u3092\u6587\u66f8\u5316\u3057\u305f\u3082\u306e\u3060\u3002\u3053\u308c\u3089\u306f\u516c\u958b\u3055\u308c\u305f\u88c1\u5224\u6587\u66f8\u3067\u3042\u308b\u3002\u6575\u5bfe\u7684\u306a\u5916\u56fd\u306e\u8adc\u5831\u6a5f\u95a2\u304c\u7c73\u56fd\u306b\u5bfe\u3059\u308b\u4f5c\u6226\u306e\u305f\u3081\u306b\u6697\u53f7\u901a\u8ca8\u3092\u4f7f\u7528\u3057\u305f\u3053\u3068\u306f\u3001\u516c\u6587\u66f8\u3068\u6a5f\u5bc6\u6587\u66f8\u306b\u540c\u6642\u306b\u8a18\u8f09\u3055\u308c\u3066\u3044\u308b\u3002.<\/p>\n\n\n\n<p>\u500b\u4eba\u5411\u3051\u6697\u53f7\u901a\u8ca8\u306e\u640d\u5931\u306f\u3001\u5927\u3005\u7684\u306a\u30bf\u30fc\u30b2\u30c3\u30c8\u30fb\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u3092\u53d7\u3051\u3001\u5f37\u6c17\u76f8\u5834\u306e\u6700\u4e2d\u306b\u53c2\u5165\u3057\u305f\u4f4e\u6240\u5f97\u3067\u91d1\u878d\u306b\u7d20\u76f4\u3067\u306a\u3044\u6295\u8cc7\u5bb6\u306b\u96c6\u4e2d\u3057\u3066\u3044\u308b\u3002\u9280\u884c\u53e3\u5ea7\u3092\u6301\u305f\u306a\u3044\u4eba\u3005\u3092\u9280\u884c\u53e3\u5ea7\u306b\u9810\u3051\u308b\u300d\u300c\u91d1\u878d\u306e\u81ea\u7531\u3092\u5f97\u308b\u300d\u3068\u3044\u3046\u30b7\u30ca\u30ea\u30aa\u306f\u3001\u5168\u4f53\u3068\u3057\u3066\u3001\u640d\u5931\u3092\u5438\u53ce\u3067\u304d\u306a\u3044\u4eba\u3005\u304b\u3089\u3001\u640d\u5931\u3092\u5438\u53ce\u3067\u304d\u308b\u5148\u884c\u53c2\u5165\u8005\u3084\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306b\u5bcc\u3092\u79fb\u8ee2\u3055\u305b\u308b\u5546\u54c1\u306e\u52e7\u8a98\u8a00\u8a9e\u3068\u3057\u3066\u6a5f\u80fd\u3057\u305f\u3002\u30ae\u30e3\u30f3\u30d6\u30eb\u4f9d\u5b58\u75c7\u306e\u30d7\u30ed\u30d5\u30a1\u30a4\u30eb\u3068\u4e00\u81f4\u3059\u308b\u5f37\u8feb\u7684\u306a\u53d6\u5f15\u30d1\u30bf\u30fc\u30f3\u3084\u3001\u5927\u66b4\u843d\u306e\u5f8c\u306b\u8a18\u9332\u3055\u308c\u305f\u8ca1\u653f\u7684\u82e6\u60a9\u306f\u3001\u91d1\u878d\u72af\u7f6a\u3068\u306f\u7121\u95a2\u4fc2\u306b\u3001\u6d88\u8cbb\u8005\u4fdd\u8b77\u306e\u65b9\u5411\u304b\u3089\u306e\u898f\u5236\u5727\u529b\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u308b\u3002.<\/p>\n\n\n\n<p>\u3053\u308c\u3089\u306e\u30e6\u30fc\u30b9\u30b1\u30fc\u30b9\u306f\u3044\u305a\u308c\u3082\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u53d6\u5f15\u306e\u5927\u534a\u3092\u5360\u3081\u308b\u3082\u306e\u3067\u306f\u306a\u3044\u3002\u554f\u984c\u306f\u305d\u3053\u3067\u306f\u306a\u3044\u3002\u305d\u308c\u305e\u308c\u304c\u3001\u8ca8\u5e63\u54f2\u5b66\u3068\u306f\u7121\u7e01\u306e\u653f\u6cbb\u7684\u53cd\u5bfe\u306e\u30ab\u30c6\u30b4\u30ea\u30fc\u3092\u751f\u307f\u51fa\u3059\u3002\u8ffd\u8de1\u53ef\u80fd\u306a\u6697\u53f7\u901a\u8ca8\u6c7a\u6e08\u304c\u9023\u9396\u3057\u3066\u3044\u308b\u7279\u5b9a\u306e\u30d5\u30a7\u30f3\u30bf\u30cb\u30eb\u306e\u6b7b\u306b\u3064\u3044\u3066\u8aac\u660e\u3092\u53d7\u3051\u305f\u4e0a\u9662\u8b70\u54e1\u306f\u3001\u305d\u306e\u8aac\u660e\u3068\u30cf\u30a4\u30a8\u30af\u3092\u5929\u79e4\u306b\u304b\u3051\u3066\u3001\u8ca8\u5e63\u8ad6\u304c\u52dd\u3064\u3068\u7d50\u8ad6\u3065\u3051\u305f\u308a\u3057\u306a\u3044\u3002.<\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-b56d059be19ddf530d8f6b686d3dea8f\"><strong>\u3069\u3061\u3089\u3082\u8b70\u8ad6\u3057\u305f\u304f\u306a\u3044\u69cb\u9020\u7684\u554f\u984c<\/strong><\/p>\n\n\n\n<p>\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u5b89\u5168\u6027\u306f\u3001\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u3092\u653b\u6483\u3059\u308b\u3053\u3068\u304c\u7d4c\u6e08\u7684\u306b\u4e0d\u5408\u7406\u306b\u306a\u308b\u3060\u3051\u306e\u5831\u916c\u304c\u30de\u30a4\u30ca\u30fc\u306b\u652f\u6255\u308f\u308c\u308b\u304b\u3069\u3046\u304b\u306b\u304b\u304b\u3063\u3066\u3044\u308b\u3002\u5f7c\u3089\u306f\u30d6\u30ed\u30c3\u30af\u88dc\u52a9\u91d1\u3068\u53d6\u5f15\u624b\u6570\u6599\u3067\u652f\u6255\u308f\u308c\u3066\u3044\u308b\u30022024\u5e744\u6708\u306e\u534a\u6e1b\u306b\u3088\u308a\u3001\u88dc\u52a9\u91d1\u306f\u30d6\u30ed\u30c3\u30af\u3042\u305f\u308a3.125BTC\u306b\u6e1b\u5c11\u3057\u305f\u30022028\u5e74\u306e\u534a\u6e1b\u3067\u306f1.5625BTC\u306b\u6e1b\u308b\u30022140\u5e74\u306b\u306f\u30bc\u30ed\u3068\u306a\u308a\u3001\u624b\u6570\u6599\u3067\u3059\u3079\u3066\u3092\u8cc4\u3046\u5fc5\u8981\u304c\u3042\u308b\u3002\u5e74\u9593\u624b\u6570\u6599\u53ce\u5165\u306f\u73fe\u5728\u3001\u826f\u3044\u5e74\u3067$1\u304b\u3089$20\u5104\u306e\u9593\u3067\u3042\u308b\u3002\u30bb\u30ad\u30e5\u30ea\u30c6\u30a3\u7814\u7a76\u8005\u306f\u4e00\u822c\u7684\u306b\u300151%\u306e\u653b\u6483\u304b\u3089$1\u5146\u306e\u8cc7\u7523\u3092\u5b88\u308b\u306b\u306f\u3001\u5e74\u9593$5\uff5e$150\u5104\u306e\u30bb\u30ad\u30e5\u30ea\u30c6\u30a3\u652f\u51fa\u304c\u5fc5\u8981\u3060\u3068\u898b\u7a4d\u3082\u3063\u3066\u3044\u308b\u3002\u3053\u306e\u30ae\u30e3\u30c3\u30d7\u306f\u73fe\u5728\u306e\u8ecc\u9053\u3067\u306f\u7e2e\u307e\u3089\u306a\u3044\u3002\u53d6\u5f15\u624b\u6570\u6599\u306f1\u6841\u6210\u9577\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u30011MB\u30d6\u30ed\u30c3\u30af\u3067\u306f\u5b9f\u73fe\u3067\u304d\u306a\u3044\u30d9\u30fc\u30b9\u30ec\u30a4\u30e4\u30fc\u30b9\u30eb\u30fc\u30d7\u30c3\u30c8\u3092\u5fc5\u8981\u3068\u3057\u30012017\u5e74\u306b\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u30ad\u30e3\u30c3\u30b7\u30e5\u3092\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u304b\u3089\u5206\u88c2\u3055\u305b\u305f\u30d6\u30ed\u30c3\u30af\u30b5\u30a4\u30ba\u306e\u8b70\u8ad6\u306f\u89e3\u6c7a\u3055\u308c\u3066\u3044\u306a\u3044\u3002\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u306f\u3053\u306e\u554f\u984c\u3092\u8a8d\u8b58\u3057\u3066\u3044\u308b\u3002\u3057\u304b\u3057\u89e3\u6c7a\u306f\u3057\u3066\u3044\u306a\u3044\u3002\u534a\u5206\u306b\u3059\u308b\u305f\u3073\u306b\u8a08\u7b97\u304c\u53b3\u3057\u304f\u306a\u308b\u3002.<\/p>\n\n\n\n<p>Foundry 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class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-97b3e1eafb0dc579299c3deb89faeba3\"><strong>\u653f\u5e9c\u304c\u77e5\u3063\u3066\u3044\u3066\u5e02\u5834\u304c\u77e5\u3089\u306a\u3044\u3053\u3068<\/strong><\/p>\n\n\n\n<p>\u30d6\u30ed\u30c3\u30af\u30c1\u30a7\u30fc\u30f3\u306f\u3001\u3053\u308c\u307e\u3067\u306b\u884c\u308f\u308c\u305f\u3059\u3079\u3066\u306e\u53d6\u5f15\u306e\u6c38\u4e45\u7684\u3067\u516c\u958b\u3055\u308c\u305f\u4e0d\u5909\u306e\u8a18\u9332\u3067\u3042\u308a\u3001\u540c\u6642\u306b\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u6700\u5927\u306e\u30d5\u30a9\u30ec\u30f3\u30b8\u30c3\u30af\u8cc7\u7523\u3067\u3042\u308b\u3068\u540c\u6642\u306b\u3001\u3053\u308c\u307e\u3067\u306b\u69cb\u7bc9\u3055\u308c\u305f\u6700\u3082\u5305\u62ec\u7684\u306a\u91d1\u878d\u76e3\u8996\u30a4\u30f3\u30d5\u30e9\u306e\u57fa\u76e4\u3067\u3082\u3042\u308a\u307e\u3059\u3002Chainalysis\u3001Elliptic\u3001TRM Labs\u3001CipherTrace\u306f\u3001FBI\u3001DEA\u3001IRS Criminal Investigation\u3001HSI\u3001FinCEN\u3001\u304a\u3088\u3073\u6b27\u7c73\u306e\u4e3b\u8981\u306a\u6cd5\u57f7\u884c\u6a5f\u95a2\u3068\u5951\u7d04\u3092\u7d50\u3093\u3067\u3044\u307e\u3059\u3002NSA\u306eXKEYSCORE\u30d7\u30ed\u30b0\u30e9\u30e0\u306b\u306f\u3001\u30b9\u30ce\u30fc\u30c7\u30f3\u306e\u60c5\u5831\u516c\u958b\u3092\u901a\u3058\u3066\u516c\u958b\u3055\u308c\u30012018\u5e74\u306bThe Intercept\u306b\u3088\u3063\u3066\u5831\u544a\u3055\u308c\u305f\u6587\u66f8\u306b\u3088\u308b\u3068\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u53d6\u5f15\u76e3\u8996\u6a5f\u80fd\u304c\u542b\u307e\u308c\u3066\u3044\u305f\u3002\u30d5\u30a1\u30a4\u30d6\u30fb\u30a2\u30a4\u30ba\u30fb\u30d1\u30fc\u30c8\u30ca\u30fc\u30b7\u30c3\u30d7\u306f\u3001\u7c73\u56fd\u3001\u82f1\u56fd\u3001\u30ab\u30ca\u30c0\u3001\u30aa\u30fc\u30b9\u30c8\u30e9\u30ea\u30a2\u3001\u30cb\u30e5\u30fc\u30b8\u30fc\u30e9\u30f3\u30c9\u306e\u5404\u6a5f\u95a2\u3067\u3053\u308c\u3089\u306e\u80fd\u529b\u3092\u5171\u6709\u3057\u3066\u3044\u308b\u3002.<\/p>\n\n\n\n<p>\u76e3\u8996\u80fd\u529b\u306f\u3001\u6697\u53f7\u901a\u8ca8\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u304c\u8868\u73fe\u3057\u3066\u3044\u308b\u3088\u308a\u3082\u304b\u306a\u308a\u5305\u62ec\u7684\u3067\u3042\u308b\u3002\u7279\u306b\u3001\u30bb\u30ad\u30e5\u30ea\u30c6\u30a3\u4e0a\u306e\u64cd\u4f5c\u30df\u30b9\u3092\u72af\u3057\u305f\u4eba\u3005\u306b\u5bfe\u3057\u3066\u6709\u52b9\u3067\u3042\u308b\u3002\u6d17\u7df4\u3055\u308c\u305f\u56fd\u5bb6\u30ec\u30d9\u30eb\u306e\u904b\u55b6\u8005\u3084\u6280\u8853\u7684\u30ea\u30bd\u30fc\u30b9\u3092\u6301\u3064\u7d44\u7e54\u72af\u7f6a\u8005\u306f\u8a34\u8ffd\u304c\u96e3\u3057\u3044\u3002\u4e00\u822c\u4eba\u3084\u7d20\u6734\u306a\u72af\u7f6a\u8005\u306f\u3001\u307b\u3068\u3093\u3069\u900f\u660e\u3067\u3042\u308b\u3002\u91d1\u878d\u306e\u81ea\u7531\u3068\u3044\u3046\u7269\u8a9e\u306f\u3001\u4e3b\u306b\u3001\u56fd\u5bb6\u6a29\u529b\u8005\u3001\u7d71\u5236\u306e\u3068\u308c\u305f\u7d44\u7e54\u72af\u7f6a\u3001\u8adc\u5831\u6a5f\u95a2\u306a\u3069\u3001\u95a2\u4fc2\u306a\u304f\u305d\u308c\u3092\u5229\u7528\u3059\u308b\u306e\u306b\u6700\u9069\u306a\u7acb\u5834\u306b\u3042\u308b\u4eba\u3005\u306b\u5229\u76ca\u3092\u3082\u305f\u3089\u3059\u4e00\u65b9\u3067\u3001\u305d\u308c\u4ee5\u5916\u306e\u3059\u3079\u3066\u306e\u4eba\u3005\u3092\u9732\u5448\u3055\u305b\u308b\u3002.<\/p>\n\n\n\n<p>\u8adc\u5831\u6a5f\u95a2\u306f\u6697\u53f7\u901a\u8ca8\u3092\u4f5c\u6226\u306b\u5229\u7528\u3057\u3066\u3044\u308b\u306e\u3060\u3002\u6575\u5bfe\u7684\u306a\u53f8\u6cd5\u7ba1\u8f44\u6a29\u4e0b\u306b\u3042\u308b\u4eba\u7684\u8cc7\u7523\u306b\u5f93\u6765\u306e\u9280\u884c\u53d6\u5f15\u3067\u652f\u6255\u3044\u3092\u884c\u3046\u3068\u3001\u8a18\u9332\u304c\u4f5c\u6210\u3055\u308c\u3001\u76e3\u8996\u3084\u51cd\u7d50\u304c\u53ef\u80fd\u306a\u30b3\u30eb\u30ec\u30b9\u30fb\u30d0\u30f3\u30ad\u30f3\u30b0\u304c\u5fc5\u8981\u306b\u306a\u308b\u3002\u91d1\u878d\u6a5f\u95a2\u304c\u95a2\u4e0e\u3057\u306a\u3044\u30c6\u30d8\u30e9\u30f3\u3084\u5e73\u58cc\u306e\u30a6\u30a9\u30ec\u30c3\u30c8\u3078\u306e\u6697\u53f7\u901a\u8ca8\u306e\u9001\u91d1\u306f\u3001\u7279\u5b9a\u306e\u904b\u7528\u4e0a\u306e\u554f\u984c\u3092\u89e3\u6c7a\u3059\u308b\u3002\u3053\u306e\u3053\u3068\u306f\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u6291\u5236\u306b\u6cd5\u57f7\u884c\u4e0a\u306e\u95a2\u5fc3\u3092\u6301\u3064\u540c\u3058\u653f\u5e9c\u5185\u90e8\u3067\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u304c\u8a31\u5bb9\u3055\u308c\u7d9a\u3051\u308b\u3053\u3068\u3078\u306e\u771f\u306e\u5236\u5ea6\u7684\u95a2\u5fc3\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u308b\u3002\u653f\u5e9c\u5185\u306e\u898f\u5236\u306b\u95a2\u3059\u308b\u8b70\u8ad6\u306f\u3001\u516c\u7684\u306a\u8b70\u8ad6\u3088\u308a\u3082\u8907\u96d1\u3067\u3042\u308b\u3002\u306a\u305c\u306a\u3089\u3001\u3053\u308c\u30892\u3064\u306e\u5229\u5bb3\u304c\u540c\u3058\u90e8\u5c4b\u3067\u3001\u540c\u3058\u6a5f\u5bc6\u60c5\u5831\u306b\u30a2\u30af\u30bb\u30b9\u3057\u306a\u304c\u3089\u3001\u4e92\u3044\u306b\u8b70\u8ad6\u3059\u308b\u304b\u3089\u3067\u3042\u308b\u3002.<\/p>\n\n\n\n<p>\u5e02\u5834\u3067\u306f\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u5c06\u6765\u306b\u3064\u3044\u3066\u3001\u307e\u308b\u3067\u91d1\u878d\u554f\u984c\u3067\u3042\u308b\u304b\u306e\u3088\u3046\u306b\u8b70\u8ad6\u3055\u308c\u3066\u3044\u308b\u3002\u5404\u56fd\u653f\u5e9c\u306f\u3059\u3067\u306b\u56fd\u5bb6\u5b89\u5168\u4fdd\u969c\u306e\u554f\u984c\u3060\u3068\u6c7a\u3081\u3066\u3044\u308b\u3002\u3053\u308c\u3089\u306f\u7570\u306a\u308b\u8b70\u8ad6\u3067\u3042\u308a\u3001\u7570\u306a\u308b\u7d50\u679c\u3067\u3042\u308a\u3001\u7570\u306a\u308b\u6642\u9593\u8ef8\u3067\u52d5\u3044\u3066\u3044\u308b\u30022024\u5e744\u6708\u306eSamourai Wallet\u306e\u5275\u8a2d\u8005\u306e\u902e\u6355\u306f\u3001Bitcoin CoinJoin\u306e\u5b9f\u88c5\u3092\u5b9f\u884c\u3057\u305f\u3053\u3068\u306b\u3088\u308b\u30de\u30cd\u30fc\u30ed\u30f3\u30c0\u30ea\u30f3\u30b0\u3068\u7121\u514d\u8a31\u9001\u91d1\u3067\u8d77\u8a34\u3055\u308c\u3001\u5f53\u6642\u306e\u30d7\u30e9\u30a4\u30d0\u30b7\u30fc\u5f37\u5316\u30c4\u30fc\u30eb\u306b\u5bfe\u3059\u308b\u691c\u5bdf\u306e\u59ff\u52e2\u3092\u793a\u3057\u3066\u3044\u305f\u3002\u53f8\u6cd5\u7701\u306f\u3001\u65b0\u653f\u6a29\u306e\u3088\u308a\u5bdb\u5bb9\u306a\u898f\u5236\u59ff\u52e2\u306e\u4e0b\u30012025\u5e743\u6708\u306b\u3053\u308c\u3089\u306e\u544a\u767a\u3092\u53d6\u308a\u4e0b\u3052\u305f\u3002\u3053\u306e\u902e\u6355\u3068\u305d\u306e\u5f8c\u306e\u53d6\u308a\u4e0b\u3052\u306f\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u30d7\u30e9\u30a4\u30d0\u30b7\u30fc\u306e\u767a\u5c55\u304c\u3001\u5b9a\u307e\u3063\u305f\u6cd5\u7406\u3088\u308a\u3082\u3080\u3057\u308d\u653f\u6cbb\u7684\u306a\u98a8\u6f6e\u306b\u5de6\u53f3\u3055\u308c\u308b\u5ea6\u5408\u3044\u3092\u793a\u3057\u3066\u3044\u308b\u3002\u30d7\u30e9\u30a4\u30d0\u30b7\u30fc\u958b\u767a\u3078\u306e\u51b7\u3084\u3084\u304b\u306a\u5f71\u97ff\u306f\u3001\u7d50\u679c\u306b\u304b\u304b\u308f\u3089\u305a\u73fe\u5b9f\u306e\u3082\u306e\u3067\u3057\u305f\u3002\u958b\u767a\u8005\u306f\u3001\u653f\u6a29\u306b\u3088\u3063\u3066\u5909\u5316\u3059\u308b\u524d\u63d0\u306e\u4e0a\u306b\u69cb\u7bc9\u3059\u308b\u3053\u3068\u306f\u3067\u304d\u307e\u305b\u3093\u3002.<\/p>\n\n\n\n<p>\u6709\u4e8b\u6cd5\u5236\u306e\u30b7\u30ca\u30ea\u30aa\u306f\u73fe\u5b9f\u7684\u3067\u306f\u3042\u308b\u304c\u3001\u30b9\u30da\u30af\u30c8\u30eb\u306e\u4e00\u7aef\u3092\u8868\u3057\u3066\u3044\u308b\u3002\u3088\u308a\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u306e\u306f\u3001\u305d\u3057\u3066\u30ea\u30b9\u30af\u5206\u6790\u306b\u304a\u3044\u3066\u6700\u3082\u6ce8\u76ee\u3055\u308c\u3066\u3044\u306a\u3044\u306e\u306f\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u304c\u3053\u308c\u307e\u3067\u306e\u7834\u58ca\u7684\u91d1\u878d\u5546\u54c1\u306e\u9053\u3092\u305f\u3069\u308b\u3053\u3068\u3067\u3042\u308b\u3002\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u3001\u30aa\u30d5\u30b7\u30e7\u30a2\u30d0\u30f3\u30ad\u30f3\u30b0\u3001\u30de\u30cd\u30fc\u30fb\u30c8\u30e9\u30f3\u30b9\u30df\u30c3\u30b7\u30e7\u30f3\u306f\u3059\u3079\u3066\u540c\u3058\u30b5\u30a4\u30af\u30eb\u3092\u751f\u307f\u51fa\u3057\u305f-\u6700\u521d\u306e\u5bb9\u8a8d\u3001\u6709\u540d\u306a\u60aa\u7528\u3001\u7acb\u6cd5\u63aa\u7f6e\u3001\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u30fb\u30a4\u30f3\u30d5\u30e9\u3001\u305d\u3057\u3066\u6700\u7d42\u7684\u306b\u306f\u898f\u5236\u76e3\u7763\u306e\u4e0b\u3067\u306e\u6b63\u5e38\u5316\u3002\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306f\u3059\u3067\u306b\u3001\u30c0\u30fc\u30af\u30a8\u30b3\u30ce\u30df\u30fc\u306e\u67a0\u7d44\u307f\u304c\u793a\u5506\u3059\u308b\u4ee5\u4e0a\u306b\u3001\u3053\u306e\u9053\u3092\u9032\u3093\u3067\u3044\u308b\uff1a\u4e3b\u8981\u53d6\u5f15\u6240\u306b\u304a\u3051\u308bAML\u3068KYC\u306e\u8981\u4ef6\u3001\u30de\u30a4\u30cb\u30f3\u30b0\u30d7\u30fc\u30eb\u306b\u3088\u308b\u81ea\u767a\u7684\u306aOFAC\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u3001\u305d\u3057\u3066ETF\u306e\u627f\u8a8d\u30d7\u30ed\u30bb\u30b9\u305d\u306e\u3082\u306e\u306f\u3059\u3079\u3066\u3001\u7981\u6b62\u3067\u306f\u306a\u304f\u898f\u5236\u306e\u9069\u5fdc\u3092\u8868\u3057\u3066\u3044\u308b\u3002\u4fdd\u6709\u8005\u306b\u3068\u3063\u3066\u306e\u554f\u984c\u306f\u3001\u7dca\u6025\u6cd5\u6848\u304c\u901a\u904e\u3059\u308b\u304b\u3069\u3046\u304b\u3060\u3051\u3067\u306a\u304f\u3001\u305d\u306e\u6b63\u5e38\u5316\u304b\u3089\u751f\u307e\u308c\u308b\u898f\u5236\u3055\u308c\u305f\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u304c\u3001\u5f7c\u3089\u304c\u8cfc\u5165\u3059\u308b\u3068\u4fe1\u3058\u3066\u3044\u305f\u8cc7\u7523\u306b\u4f3c\u3066\u3044\u308b\u304b\u3069\u3046\u304b\u3001\u305d\u3057\u3066\u3001\u91d1\u92ad\u7684\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u6b63\u5f53\u5316\u3059\u308b\u6027\u8cea\u3067\u3042\u308b\u691c\u95b2\u3078\u306e\u8010\u6027\u304c\u3001\u305d\u306e\u5468\u56f2\u306b\u69cb\u7bc9\u3055\u308c\u308b\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u30fb\u30a2\u30fc\u30ad\u30c6\u30af\u30c1\u30e3\u306b\u8010\u3048\u3089\u308c\u308b\u304b\u3069\u3046\u304b\u3067\u3042\u308b\u3002.<\/p>\n\n\n\n<p>\u3053\u306e\u5206\u6790\u3067\u306f\u3001\u5e02\u5834\u306e\u30b7\u30ca\u30ea\u30aa\u3067\u306f\u69cb\u9020\u7684\u306b\u904e\u5c0f\u8a55\u4fa1\u3055\u308c\u3066\u3044\u308b\u30ea\u30b9\u30af\u3092\u9078\u629e\u7684\u306b\u5f37\u8abf\u3057\u3066\u3044\u307e\u3059\u3002\u5f37\u6c17\u306a\u30b1\u30fc\u30b9-4\u30b5\u30a4\u30af\u30eb\u306e\u4fa1\u683c\u4e0a\u6607\u3001\u6df1\u5316\u3059\u308b\u5236\u5ea6\u7684\u30a4\u30f3\u30d5\u30e9\u30012025\u5e74\u306e\u91d1\u306e65%\u306e\u4e0a\u6607\u306b\u3088\u3063\u3066\u793a\u3055\u308c\u308b\u771f\u306e\u901a\u8ca8\u5229\u7528\u30b1\u30fc\u30b9-\u306f\u73fe\u5b9f\u306e\u3082\u306e\u3067\u3042\u308a\u3001\u5192\u982d\u306e\u30bb\u30af\u30b7\u30e7\u30f3\u3067\u8aac\u660e\u3055\u308c\u3066\u3044\u308b\u3002\u69cb\u9020\u7684\u3001\u653f\u6cbb\u7684\u3001\u72af\u7f6a\u7684\u306a\u5236\u7d04\u306f\u3001\u307e\u3055\u306b\u5b9a\u91cf\u5316\u304c\u96e3\u3057\u304f\u3001\u8cc7\u7523\u3078\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u58f2\u5374\u3059\u308b\u4eba\u3005\u306b\u3068\u3063\u3066\u6709\u7528\u3067\u306a\u3044\u305f\u3081\u3001\u4e3b\u8981\u306a\u5831\u9053\u3067\u306f\u3042\u307e\u308a\u6ce8\u76ee\u3055\u308c\u3066\u3044\u306a\u3044\u3002.<\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-92b65b4b2e3b259ce4e65637870ecb93\"><strong>\u610f\u601d\u6c7a\u5b9a\u306e\u67a0\u7d44\u307f<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>\u30b7\u30ca\u30ea\u30aa<\/strong><\/td><td><strong>\u5fc5\u8981\u306a\u6761\u4ef6<\/strong><\/td><td><strong>\u30d7\u30e9\u30a4\u30de\u30ea\u30fc\u30fb\u30ea\u30b9\u30af<\/strong><\/td><td><strong>\u59a5\u5f53\u306aBTC\u306e\u7bc4\u56f2<\/strong><\/td><\/tr><tr><td>\u30de\u30af\u30ed\u30d8\u30c3\u30b8\u304c\u6210\u719f<\/td><td>\u7c73\u56fd\u306e\u8ca1\u653f\u8ecc\u9053\u306f\u7834\u7dbb\u3057\u305f\u307e\u307e\u3002\u30c9\u30eb\u306e\u4fe1\u983c\u6027\u306f\u8457\u3057\u304f\u4f4e\u4e0b\u3059\u308b\u3002\u91d1\u878d\u6a5f\u95a2\u306f\u30b0\u30ed\u30fc\u30d0\u30ebAUM\u306e2-5%\u3092\u30cf\u30fc\u30c9\u30ad\u30e3\u30c3\u30d7\u3055\u308c\u305f\u975e\u30bd\u30d6\u30ea\u30f3\u8cc7\u7523\u306b\u632f\u308a\u5411\u3051\u308b\u3002ETF\u30db\u30eb\u30c0\u30fc\u306f\u5927\u91cf\u6295\u878d\u8cc7\u3092\u53d7\u3051\u308b\u3053\u3068\u306a\u304f\u6b21\u306e\u4e0d\u6cc1\u3092\u4e57\u308a\u5207\u308b\u3002.<\/td><td>\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306f\u3001\u3053\u308c\u307e\u3067\u3059\u3079\u3066\u306e\u4e3b\u8981\u306a\u30ea\u30b9\u30af\u30aa\u30d5\u30a4\u30d9\u30f3\u30c8\u3067\u682a\u5f0f\u3068\u76f8\u95a2\u3057\u3066\u304d\u305f\u3002ETF\u306e\u6295\u8cc7\u5bb6\u57fa\u76e4\u306f\u3001\u6301\u7d9a\u7684\u306a60%\u306e\u30c9\u30ed\u30fc\u30c0\u30a6\u30f3\u3092\u901a\u3058\u3066\u8a66\u3055\u308c\u305f\u3053\u3068\u304c\u306a\u3044\u3002\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u58f2\u308a\u6307\u4ee4\u306f\u3001\u8ad6\u6587\u306e\u30bf\u30a4\u30e0\u30e9\u30a4\u30f3\u3092\u5c0a\u91cd\u3057\u306a\u3044\u3002.<\/td><td><strong>$180,000\u2013$500,000+<\/strong><\/td><\/tr><tr><td>\u91d1\u878d\u5316\u304c\u305d\u308c\u3092\u6349\u3048\u308b<\/td><td>ETF\u3068\u793e\u50b5\u306fBTC\u3092\u91d1\u878d\u306e\u4e3b\u6d41\u306b\u6052\u4e45\u7684\u306b\u7d44\u307f\u8fbc\u3080\u3002\u4fa1\u683c\u306f\u3001\u91d1\u878d\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u30ba\u3088\u308a\u3082\u3080\u3057\u308d\u3001\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u30ea\u30b9\u30af\u9078\u597d\u3092\u8ffd\u8de1\u3059\u308b\u3002\u4fa1\u683c\u4e0a\u6607\u306b\u4f34\u3044\u3001\u691c\u95b2\u62b5\u6297\u306e\u30c6\u30fc\u30bc\u306f\u9759\u304b\u306b\u653e\u68c4\u3055\u308c\u308b\u3002.<\/td><td>\u8cfc\u5165\u3057\u305f\u653f\u6cbb\u7684\u4fdd\u8b77\u306f\u3001\u305d\u308c\u3092\u58f2\u3063\u305f\u653f\u6a29\u3068\u3068\u3082\u306b\u5931\u52b9\u3059\u308b\u3002\u3042\u308b\u9078\u6319\u3084\u3042\u308b\u6ce8\u76ee\u3055\u308c\u308b\u8a34\u8ffd\u306b\u3088\u3063\u3066\u3001\u898f\u5236\u306e\u59ff\u52e2\u306f\u4e00\u5909\u3059\u308b\u3002\u8cc7\u7523\u306f\u5b58\u7d9a\u3059\u308b\u304c\u3001\u305d\u306e\u8cc7\u7523\u3067\u3042\u308b\u306f\u305a\u306e\u3082\u306e\u306f\u5b58\u7d9a\u3057\u306a\u3044\u3002.<\/td><td><strong>$60,000\uff5e$180,000\uff08\u30ec\u30f3\u30b8\u30d0\u30a6\u30f3\u30c9\u3001\u63ee\u767a\u6027\uff09<\/strong><\/td><\/tr><tr><td>\u6b8b\u8650\u884c\u70ba\u5f8c\u306e\u6cd5\u5f8b<\/td><td>\u91d1\u878d\u9023\u9396\u306e\u3069\u3053\u304b\u306b\u6697\u53f7\u901a\u8ca8\u304c\u5b58\u5728\u3059\u308b\u5927\u91cf\u6bba\u50b7\u4e8b\u4ef6\u304c\u767a\u751f\u3057\u305f\u5834\u5408\u3001\u7dca\u6025\u7acb\u6cd5\u304c\u767a\u52d5\u3055\u308c\u308b\u3002\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u304c\u4e3b\u8981\u306a\u624b\u6bb5\u3067\u3042\u308b\u5fc5\u8981\u306f\u306a\u3044\u3002\u653f\u6cbb\u7684\u306b\u654f\u611f\u306a\u77ac\u9593\u306b\u8ffd\u8de1\u53ef\u80fd\u306a\u30ea\u30f3\u30af\u304c1\u3064\u5fc5\u8981\u3002.<\/td><td>\u30d1\u30c8\u30ea\u30aa\u30c3\u30c8\u6cd5\u304c45\u65e5\u3067\u6210\u7acb\u3002IEEPA\u306f\u3001\u3059\u3067\u306b\u4e3b\u6a29\u8cc7\u7523\u306b\u5bfe\u3057\u3066\u4f7f\u7528\u3055\u308c\u3066\u3044\u308b\u884c\u653f\u306e\u7dca\u6025\u5dee\u3057\u62bc\u3055\u3048\u6a29\u9650\u3092\u4ed8\u4e0e\u3059\u308b\u3002\u8b70\u4f1a\u306fNSA\u306e\u30d6\u30ea\u30fc\u30d5\u30a3\u30f3\u30b0\u3092\u3082\u3068\u306b\u7acb\u6cd5\u3059\u308b\u306e\u3067\u3042\u3063\u3066\u3001\u696d\u754c\u306e\u30ed\u30d3\u30fc\u6d3b\u52d5\u30e1\u30e2\u3092\u3082\u3068\u306b\u7acb\u6cd5\u3059\u308b\u306e\u3067\u306f\u306a\u3044\u3002.<\/td><td><strong>$10,000\uff5e$45,000\uff08\u6301\u7d9a\u7684\u6291\u5236\uff09<\/strong><\/td><\/tr><tr><td>\u5b89\u5168\u4fdd\u969c\u4e88\u7b97\u306e\u5371\u6a5f<\/td><td>\u534a\u671f\u3054\u3068\u306b\u6e1b\u5c11\u3059\u308b\u30d6\u30ed\u30c3\u30af\u88dc\u52a9\u91d1\u306b\u4ee3\u308f\u308b\u624b\u6570\u6599\u53ce\u5165\u304c\u5f97\u3089\u308c\u306a\u3044\u3002\u9650\u754c\u7684\u306a\u4e8b\u696d\u8005\u304c\u64a4\u9000\u3059\u308b\u306b\u3064\u308c\u3001\u30de\u30a4\u30cb\u30f3\u30b0\u306e\u96c6\u4e2d\u5316\u304c\u9032\u3080\u300251%\u653b\u6483\u306e\u7d4c\u6e08\u30b3\u30b9\u30c8\u304c\u5229\u76ca\u306e\u95be\u5024\u3092\u4e0b\u56de\u308b\u3002.<\/td><td>\u5408\u610f\u306b\u3088\u308b\u89e3\u6c7a\u7b56\u306f\u5b58\u5728\u3057\u306a\u3044\u30022028\u5e74\u306e\u534a\u6e1b\u306f\u88dc\u52a9\u91d1\u30921.5625BTC\u306b\u6e1b\u3089\u3059\u3002\u534a\u6e1b\u3055\u308c\u308b\u305f\u3073\u306b\u8a08\u7b97\u304c\u53b3\u3057\u304f\u306a\u308a\u3001\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u306f15\u5e74\u9593\u3053\u306e\u554f\u984c\u3092\u89e3\u6c7a\u3057\u3066\u3053\u306a\u304b\u3063\u305f\u3002.<\/td><td><strong>$25,000\uff5e$90,000\uff08\u69cb\u9020\u62b5\u6297\uff09<\/strong><\/td><\/tr><tr><td>\u30c6\u30b6\u30fc\u8d77\u7206<\/td><td>USDT\u306e\u5206\u6570\u6e96\u5099\u306e\u4fe1\u983c\u304c\u5d29\u308c\u308b\u3002\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u652f\u914d\u7684\u306a\u4fa1\u683c\u767a\u898b\u6d41\u52d5\u6027\u5c64\u306f\u3001\u3059\u3079\u3066\u306e\u5e02\u5834\u3067\u540c\u6642\u306b\u5d29\u58ca\u3059\u308b\u3002.<\/td><td>Griffin-Shams (Journal of Finance, 2020)\u306f\u30012017\u5e74\u306e\u5f37\u6c17\u76f8\u5834\u306b\u304a\u3044\u3066Tether\u306e\u767a\u884c\u304cBTC\u4fa1\u683c\u3092\u652f\u3048\u305f\u3068\u3044\u3046\u7d71\u8a08\u7684\u8a3c\u62e0\u3092\u767a\u898b\u3057\u305f\u3002\u5b8c\u4e86\u3057\u305f\u72ec\u7acb\u76e3\u67fb\u306f\u5b58\u5728\u3057\u306a\u3044\u3002\u30d3\u30c3\u30b04\u306e\u5951\u7d04\u306f2026\u5e743\u6708\u306b\u767a\u8868\u3055\u308c\u305f\u304c\u3001\u307e\u3060\u7d42\u4e86\u3057\u3066\u3044\u306a\u3044\u3002\u30b5\u30fc\u30ad\u30c3\u30c8\u30d6\u30ec\u30fc\u30ab\u30fc\u306f\u5b58\u5728\u3057\u306a\u3044\u3002.<\/td><td><strong>$8,000\uff5e$30,000\uff08\u305d\u306e\u5f8c\u56de\u5fa9\u306e\u53ef\u80fd\u6027\u3042\u308a\uff09<\/strong><\/td><\/tr><tr><td>\u30d7\u30ed\u30c8\u30b3\u30eb\u30fb\u30d6\u30e9\u30c3\u30af\u30fb\u30b9\u30ef\u30f3<\/td><td>\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u304c\u30dd\u30b9\u30c8\u91cf\u5b50\u6697\u53f7\u3092\u5c0e\u5165\u3059\u308b\u524d\u306b\u3001\u6697\u53f7\u306b\u95a2\u9023\u3059\u308b\u91cf\u5b50\u30b3\u30f3\u30d4\u30e5\u30fc\u30bf\u30fc\u304c\u516c\u958b\u3055\u308c\u3066\u3044\u308b\u304b\u3001\u6a5f\u5bc6\u30d7\u30ed\u30b0\u30e9\u30e0\u306e\u4e2d\u306b\u5b58\u5728\u3057\u3066\u3044\u308b\u3002\u3042\u308b\u3044\u306f\u3001\u30b5\u30c8\u30b7\u306e\u30b3\u30a4\u30f3\u304c\u52d5\u304d\u3001\u89e3\u91c8\u306e\u30ab\u30b9\u30b1\u30fc\u30c9\u304c\u6291\u3048\u3089\u308c\u306a\u304f\u306a\u308b\u3002.<\/td><td>NIST\u306f2024\u5e74\u306b\u30dd\u30b9\u30c8\u91cf\u5b50\u6697\u53f7\u306e\u6a19\u6e96\u3092\u6700\u7d42\u6c7a\u5b9a\u3002\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306f\u79fb\u884c\u8a08\u753b\u3092\u59cb\u3081\u3066\u3044\u306a\u3044\u3002\u305d\u306e\u30ac\u30d0\u30ca\u30f3\u30b9\u306f\u3001\u8b70\u8ad6\u306e\u4f59\u5730\u306e\u306a\u3044\u5909\u66f4\u306b\u4f55\u5e74\u3082\u304b\u3051\u3066\u304d\u305f\u3002\u6a5f\u5bc6\u914d\u5099\u306f\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u306b\u8b66\u544a\u306e\u7a93\u3092\u4e0e\u3048\u306a\u3044\u3002.<\/td><td><strong>$0\uff5eTP4T35,000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><em>\u3059\u3079\u3066\u306e\u4fa1\u683c\u5e2f\u306f\u5206\u6790\u4e0a\u306e\u63a8\u5b9a\u5024\u3067\u3042\u308a\u3001\u4e88\u6e2c\u3001\u76ee\u6a19\u3001\u6295\u8cc7\u30a2\u30c9\u30d0\u30a4\u30b9\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u3059\u3079\u3066\u306e\u6570\u5024\u306f\u95b2\u89a7\u6642\u306b\u3054\u78ba\u8a8d\u304f\u3060\u3055\u3044\u3002.<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-1024x768.webp\" alt=\"\" class=\"wp-image-3880\" srcset=\"https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-1024x768.webp 1024w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-300x225.webp 300w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-768x576.webp 768w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-1536x1152.webp 1536w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-16x12.webp 16w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-560x420.webp 560w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-80x60.webp 80w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-100x75.webp 100w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-180x135.webp 180w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-238x178.webp 238w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-265x198.webp 265w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-640x480.webp 640w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility-681x511.webp 681w, https:\/\/www.eikleaf.com\/wp-content\/uploads\/2026\/03\/Argo_Blockchain_Mirabel_Facility.webp 2000w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-71e1b18ee91c78563dea8dfea3bd0d79\"><strong>2\u3064\u306e\u9023\u5408\u3001\u89e3\u6c7a\u307e\u3067\u306e1\u3064\u306e\u30a4\u30d9\u30f3\u30c8<\/strong><\/p>\n\n\n\n<p>2025\u5e7410\u67086\u65e5\u3001\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306f$126,000\u3092\u8a18\u9332\u3057\u305f\u3002\u30d6\u30e9\u30c3\u30af\u30ed\u30c3\u30af\u306eETF\u306f$1,000\u5104\u306e\u8cc7\u7523\u3092\u8d85\u3048\u305f\u3002\u30b9\u30c8\u30e9\u30c6\u30b8\u30fc\u306f640,250\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3092\u4fdd\u6709\u3057\u3001\u7dcf\u4f9b\u7d66\u91cf\u306e3%\u3092\u8d85\u3048\u305f\u3002\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306b\u95a2\u3059\u308b\u3042\u3089\u3086\u308b\u6a5f\u95a2\u306e\u30b7\u30ca\u30ea\u30aa\u306f\u3001\u540c\u6642\u306b\u771f\u5b9f\u3068\u306a\u3063\u305f\u3002\u305d\u306e8\u30f6\u6708\u524d\u306e\u540c\u5e742\u6708\u3001\u30e9\u30b6\u30ed\u30fb\u30b0\u30eb\u30fc\u30d7\u306fBybit\u304b\u3089$15\u5104\u3092\u76d7\u307f\u3001\u305d\u306e\u307b\u3068\u3093\u3069\u3092\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306b\u6d17\u6d44\u3057\u305f\u3002.<\/p>\n\n\n\n<p>$126,000\u3092\u30d2\u30c3\u30c8\u3055\u305b\u305f\u8cc7\u7523\u3068\u3001\u5317\u671d\u9bae\u304c\u53f2\u4e0a\u6700\u5927\u306e\u91d1\u878d\u7a83\u76d7\u306e\u53ce\u76ca\u3092\u6d17\u6d44\u3057\u305f\u8cc7\u7523\u306f\u540c\u3058\u3067\u3042\u308b\u3002\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u306e\u8caf\u84c4\u3092\u4fdd\u8b77\u3059\u308b\u8ca8\u5e63\u6280\u8853\u3068\u3001\u30df\u30e3\u30f3\u30de\u30fc\u306e\u8c5a\u5c60\u6bba\u696d\u52d9\u306e\u6c7a\u6e08\u30ec\u30fc\u30eb\u306f\u540c\u3058\u6280\u8853\u3067\u3042\u308b\u3002\u30a4\u30e9\u30f3\u306e\u53cd\u4f53\u5236\u6d3e\u306b\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3059\u308b\u691c\u95b2\u8010\u6027\u306e\u3042\u308b\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u3068\u3001GRU\u304c\u9078\u6319\u59a8\u5bb3\u4f5c\u6226\u306e\u30a4\u30f3\u30d5\u30e9\u8cfc\u5165\u306b\u4f7f\u7528\u3057\u305f\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u30fb\u30ed\u30b8\u30b9\u30c6\u30a3\u30af\u30b9\u5c64\u306f\u540c\u3058\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u3067\u3042\u308b\u3002\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306f\u3001\u5408\u6cd5\u7684\u306a\u7d4c\u6e08\u3068\u306f\u5225\u306b\u30c0\u30fc\u30af\u30a8\u30b3\u30ce\u30df\u30fc\u306e\u554f\u984c\u3092\u62b1\u3048\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u4e21\u8005\u306f\u30d7\u30ed\u30c8\u30b3\u30eb\u30ec\u30d9\u30eb\u3067\u4e0d\u53ef\u5206\u306a\u306e\u3060\u3002\u305d\u308c\u304c\u8a2d\u8a08\u306e\u30dd\u30a4\u30f3\u30c8\u3067\u3042\u308a\u3001\u305d\u308c\u304c\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u304c\u76f4\u9762\u3059\u308b\u3042\u3089\u3086\u308b\u653f\u6cbb\u7684\u554f\u984c\u306e\u6839\u6e90\u306a\u306e\u3060\u3002.<\/p>\n\n\n\n<p>\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u306e\u5c06\u6765\u306f\u3001\u73fe\u5728\u3001\u305d\u306e\u898f\u5236\u4e0a\u306e\u5730\u4f4d\u3092\u5b88\u3063\u3066\u3044\u308b\u9023\u5408\uff08\u8cfc\u5165\u3057\u305f$1\u51049,500\u4e07\u30c9\u30eb\u306e\u653f\u6cbb\u7684\u4fdd\u8b77\u3001\u5b89\u6613\u306b\u89e3\u4f53\u3067\u304d\u306a\u3044\u307b\u3069\u7d44\u307f\u8fbc\u307e\u308c\u305fETF\u30a4\u30f3\u30d5\u30e9\u30012025\u5e74\u306e\u91d1\u306e65%\u306e\u5229\u5f97\u304c\u307e\u3059\u307e\u3059\u9996\u5c3e\u4e00\u8cab\u3057\u305f\u3082\u306e\u306b\u3057\u305f\u6b63\u5f53\u306a\u901a\u8ca8\u3068\u8cc7\u672c\u9003\u907f\u306e\u30b1\u30fc\u30b9\uff09\u304c\u3001\u6697\u53f7\u306e\u30c0\u30fc\u30af\u30a8\u30b3\u30ce\u30df\u30fc\u3092\u653f\u6cbb\u7684\u306b\u8a31\u5bb9\u3067\u304d\u306a\u304f\u3059\u308b\u6b21\u306e\u51fa\u6765\u4e8b\u306e\u5468\u56f2\u3067\u5f62\u6210\u3055\u308c\u308b\u9023\u5408\u3088\u308a\u3082\u5927\u304d\u304f\u3001\u8010\u4e45\u6027\u304c\u3042\u308b\u3053\u3068\u3092\u8a3c\u660e\u3059\u308b\u304b\u3069\u3046\u304b\u3067\u6c7a\u307e\u308b\u3002\u8105\u5a01\u306e\u9023\u5408\u306f\u3059\u3067\u306b\u305d\u306e\u8a3c\u62e0\u3092\u6301\u3063\u3066\u3044\u308b\uff1a\u5927\u91cf\u7834\u58ca\u5175\u5668\u306e\u8cc7\u91d1\u8abf\u9054\u306e\u305f\u3081\u306b\u76d7\u307e\u308c\u305f15\u5104\u30c9\u30eb\u3001\u6697\u53f7\u6c7a\u6e08\u8a50\u6b3a\u3092\u884c\u3046\u305f\u3081\u306b\u5974\u96b7\u3068\u306a\u3063\u3066\u3044\u308b20\u4e07\u4eba\u30014\u5e74\u9593\u3067\u3053\u308c\u3089\u306e\u8a50\u6b3a\u3092\u901a\u3058\u3066\u79fb\u52d5\u3057\u305f750\u5104\u30c9\u30eb\u3002\u3053\u308c\u3089\u306f\u6b74\u53f2\u7684\u306a\u51fa\u6765\u4e8b\u3067\u306f\u306a\u3044\u3002\u73fe\u5728\u9032\u884c\u4e2d\u306e\u6d3b\u52d5\u306a\u306e\u3060\u3002.<\/p>\n\n\n\n<p>\u7dca\u6025\u6cd5\u6848\u306e\u30b7\u30ca\u30ea\u30aa\u306b\u60f3\u50cf\u529b\u306f\u3044\u3089\u306a\u3044\u3002\u30d1\u30c8\u30ea\u30aa\u30c3\u30c8\u6cd5\u306f45\u65e5\u3067\u6210\u7acb\u3057\u305f\u3002\u65e5\u6ca1\u304c\u5e83\u304f\u4e88\u60f3\u3055\u308c\u3066\u3044\u305f\u305d\u306e\u76e3\u8996\u6761\u9805\u306f\u300120\u5e74\u4ee5\u4e0a\u3082\u66f4\u65b0\u3055\u308c\u3066\u3044\u308b\u3002\u5f15\u304d\u91d1\u306f\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3067\u3042\u308b\u5fc5\u8981\u306f\u306a\u3044\u3002\u5fc5\u8981\u306a\u306e\u306f\u3001\u7279\u5b9a\u306e\u653f\u6a29\u304c\u653f\u6cbb\u7684\u5bfe\u5fdc\u3092\u5fc5\u8981\u3068\u3059\u308b\u77ac\u9593\u306b\u3001\u91d1\u878d\u9023\u9396\u306e\u4e2d\u3067\u8ffd\u8de1\u53ef\u80fd\u306a\u6697\u53f7\u901a\u8ca8\u306b\u3088\u308b\u6c7a\u6e08\u304c\u884c\u308f\u308c\u308b\u5927\u91cf\u6bba\u622e\u4e8b\u4ef6\u3067\u3042\u308b\u3002\u8b70\u4f1a\u306f\u6570\u9031\u9593\u4ee5\u5185\u306b\u63a1\u6c7a\u3092\u884c\u3046\u3060\u308d\u3046\u3002\u6cd5\u6848\u306f\u3001\u30d0\u30a4\u30d3\u30c3\u30c8\u3084\u30e9\u30b6\u30ed\u3001\u8c5a\u306e\u5c60\u6bba\u3001\u30d0\u30a4\u30ca\u30f3\u30b9\u306e\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u62c5\u5f53\u8005\u304c\u9023\u90a6\u88c1\u5224\u6240\u3067\u8aad\u307e\u308c\u308b\u3068\u306f\u601d\u3063\u3066\u3082\u3044\u306a\u304b\u3063\u305f\u5185\u90e8\u30e1\u30c3\u30bb\u30fc\u30b8\u3067\u30c6\u30ed\u8cc7\u91d1\u8abf\u9054\u306e\u66b4\u9732\u306b\u3064\u3044\u3066\u8b70\u8ad6\u3057\u3066\u3044\u308b\u3053\u3068\u306b\u3064\u3044\u3066\u3001\u6a5f\u5bc6\u6271\u3044\u306e\u30d6\u30ea\u30fc\u30d5\u30a3\u30f3\u30b0\u3092\u53d7\u3051\u305f\u4eba\u3005\u306b\u3088\u3063\u3066\u66f8\u304b\u308c\u308b\u3060\u308d\u3046\u3002.<\/p>\n\n\n\n<p>2021\u5e7411\u6708\u306b$69,000\u3067\u8cb7\u3063\u305f\u4eba\u306f\u30012026\u5e743\u6708\u306b\u306f$69,000\u306b\u623b\u3063\u3066\u3044\u308b\u3002\u3053\u306e2\u3064\u306e\u4fa1\u683c\u306e\u9593\u306b\u306f\u3001$16,000\u307e\u3067\u306e77%\u306e\u66b4\u843d\u3001$126,000\u307e\u3067\u306e\u56de\u5fa9\u3001\u305d\u3057\u306645%\u306e\u30ea\u30c8\u30ec\u30fc\u30b9\u304c\u3042\u308b\u30022021\u5e74\u306e\u9ad8\u5024\u304b\u3089\u66b4\u843d\u307e\u3067\u6301\u3061\u7d9a\u3051\u3001\u56de\u5fa9\u5c40\u9762\u3067\u3082\u6301\u3061\u7d9a\u3051\u30012025\u5e7410\u6708\u306e\u30d4\u30fc\u30af\u3067\u58f2\u3089\u306a\u304b\u3063\u305f\u4eba\u306f\u30014\u5e74\u4ee5\u4e0a\u7d4c\u3063\u305f\u4eca\u3001\u6700\u521d\u306e\u30a8\u30f3\u30c8\u30ea\u30fc\u3067\u307b\u307c\u6a2a\u3070\u3044\u306b\u306a\u3063\u3066\u3044\u308b\u3002\u30de\u30cd\u30bf\u30ea\u30fc\u30c6\u30fc\u30bc\u306e\u65b9\u5411\u6027\u306f\u6b63\u3057\u304b\u3063\u305f\u3002\u305d\u306e\u9053\u7b4b\u306f\u6b8b\u9177\u3060\u3063\u305f\u3002\u3053\u306e\u30c6\u30b9\u30c8\u306e\u6b21\u306e\u30d0\u30fc\u30b8\u30e7\u30f3\u306f\u3059\u3067\u306b\u69cb\u7bc9\u3055\u308c\u3066\u3044\u308b\u3002\u30de\u30a4\u30cb\u30f3\u30b0\u30d7\u30fc\u30eb\u306e\u96c6\u4e2d\u3001\u534a\u6e1b\u3059\u308b\u305f\u3073\u306b\u53b3\u3057\u304f\u306a\u308b\u5b89\u5168\u4fdd\u969c\u4e88\u7b97\u306e\u7b97\u6570\u3001\u9589\u9396\u3055\u308c\u3066\u3044\u306a\u3044\u8c5a\u306e\u5c60\u6bba\u5834\u3001\u4e00\u671d\u3067$15\u5104\u3092\u76d7\u3080\u3053\u3068\u304c\u3067\u304d\u308b\u3053\u3068\u3092\u5b9f\u8a3c\u3057\u305f\u3070\u304b\u308a\u306e\u5317\u671d\u9bae\u306e\u5175\u5668\u30d7\u30ed\u30b0\u30e9\u30e0\u306a\u3069\u3067\u3042\u308b\u3002.<\/p>\n\n\n\n<p>\u4e3b\u8981\u56fd\u653f\u5e9c\u306e\u8ca1\u653f\u306e\u8ecc\u8de1\u306b\u3064\u3044\u3066\u3069\u3046\u8003\u3048\u308b\u304b\u3002\u6697\u9ed2\u7d4c\u6e08\u304c\u7dca\u6025\u6cd5\u6848\u306e\u5f15\u304d\u91d1\u3092\u5f15\u304f\u30b9\u30d4\u30fc\u30c9\u306b\u3064\u3044\u3066\u3069\u3046\u8003\u3048\u308b\u304b\u3002\u3053\u306e\u30c6\u30fc\u30bc\u304c\u5b9f\u73fe\u3059\u308b\u524d\u306e\u30c9\u30ed\u30fc\u30c0\u30a6\u30f3\u3092\u4e57\u308a\u5207\u308c\u308b\u304b\u3069\u3046\u304b\u3092\u5224\u65ad\u3059\u308b\u3002\u305d\u3057\u3066\u3001\u305d\u308c\u306b\u5f93\u3063\u3066\u6c7a\u65ad\u3059\u308b\u3002.<\/p>\n\n\n\n<p>\u7d50\u679c\u306f\u3001\u3069\u306e\u7269\u8a9e\u304c\u3088\u308a\u54f2\u5b66\u7684\u306b\u6b63\u3057\u3044\u304b\u306b\u3088\u3063\u3066\u6c7a\u307e\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u3069\u306e\u9023\u5408\u304c\u30b9\u30c8\u30ec\u30b9\u306e\u77ac\u9593\u306b\u653f\u6cbb\u7684\u306b\u512a\u4f4d\u306b\u7acb\u3064\u304b\u306b\u3088\u3063\u3066\u6c7a\u307e\u308b\u306e\u3060\u3002.<\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-9758199f36f2c4f65faf7555e075d2e5\"><strong>Gen AI \u514d\u8cac\u4e8b\u9805<\/strong><\/p>\n\n\n\n<p><em>\u3053\u306e\u30da\u30fc\u30b8\u306e\u4e00\u90e8\u306e\u30b3\u30f3\u30c6\u30f3\u30c4\u306f\u3001\u30b8\u30a7\u30cd\u30ec\u30fc\u30c6\u30a3\u30d6AI\u306e\u52a9\u3051\u3092\u501f\u308a\u3066\u751f\u6210\u30fb\u7de8\u96c6\u3055\u308c\u305f\u3082\u306e\u3067\u3059\u3002.<\/em><\/p>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-db76fed5362a2d77d286a17bc992c2da\"><strong>\u30e1\u30c7\u30a3\u30a2<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.pexels.com\/photo\/a-close-up-shot-of-gold-bitcoins-7708810\" target=\"_blank\" rel=\"noreferrer noopener\">\u30c0\u30cb\u30a8\u30eb\u30fb\u30c0\u30f3 - Pexels<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Scam_centers_in_Cambodia#\/media\/File:Panorama_View_of_Sihanoukville_from_Otres_Beach_(cropped).jpg\" target=\"_blank\" rel=\"noreferrer noopener\">\u30aa\u30c8\u30ec\u30b9\u30fb\u30d3\u30fc\u30c1\u304b\u3089\u898b\u305f\u30b7\u30a2\u30cc\u30fc\u30af\u30d3\u30eb\u306e\u30d1\u30ce\u30e9\u30de - Wikipedia<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Bitcoin#\/media\/File:Argo_Blockchain_Mirabel_Facility.jpg\" target=\"_blank\" rel=\"noreferrer noopener\">\u5927\u91cf\u306e\u30de\u30a4\u30cb\u30f3\u30b0\u30fb\u30cf\u30fc\u30c9\u30a6\u30a7\u30a2\u3092\u5099\u3048\u305f\u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u63a1\u6398\u65bd\u8a2d - Wikipedia<\/a><\/p>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<p class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-b0282fccf832fc700a1feb44091b0f4b\"><strong>\u4e3b\u306a\u60c5\u5831\u6e90\u3068\u53c2\u8003\u6587\u732e<\/strong><\/p>\n\n\n\n<p><em>All figures reflect verified data as of March 2026. Prices, AUM figures, and holdings should be confirmed at the time of reading.<\/em><\/p>\n\n\n\n<p><strong>Chainalysis. <\/strong><em>2025 Crypto Crime Report. <\/em>Chainalysis.com, February 2025. https:\/\/www.chainalysis.com\/blog\/2025-crypto-crime-report\/ (North Korean cryptocurrency theft $1.34B in 2024, representing 61% of all global crypto theft that year; illicit share of total crypto activity under 1% by 2024 per Chainalysis methodology.)<\/p>\n\n\n\n<p><strong>Griffin, J.M. and Shams, A.. <\/strong><em>Is Bitcoin Really Untethered?. <\/em>Journal of Finance, 75(4), pp.1913\u20131964, 2020. https:\/\/doi.org\/10.1111\/jofi.12903 (Statistical evidence of Tether\u2013Bitcoin price correlation during 2017 bull run; primary academic source for price manipulation question.)<\/p>\n\n\n\n<p><strong>Griffin, J.M. and Mei, K.. <\/strong><em>How Do Crypto Flows Finance Slavery? The Economics of Pig Butchering. <\/em>SSRN Working Paper 4742235, February 2024 (revised March 2025). https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=4742235 ($75.3 billion in flows moved to suspicious exchange deposit accounts from pig butchering operations January 2020\u2013February 2024; 84% converted to Tether. Figure represents exchange flows, not direct victim losses; conservative estimate $35.1B, liberal estimate $237.6B.)<\/p>\n\n\n\n<p><strong>US Department of Justice. <\/strong><em>Binance Holdings Ltd. Agrees to Plead Guilty. <\/em>DOJ.gov, November 2023. https:\/\/www.justice.gov\/opa\/pr\/binance-holdings-limited-agrees-plead-guilty-federal-charges-and-pay-over-4-billion-criminal (Guilty plea to money laundering; admitted processing for OFAC-sanctioned entities, Al-Qaeda and Hamas-affiliated organisations; $4.3 billion penalty; Binance was the largest cryptocurrency exchange by volume at the time of the plea.)<\/p>\n\n\n\n<p><strong>US Department of Justice. <\/strong><em>South Korean National Charged \u2014 Welcome to Video Takedown. <\/em>DOJ.gov, October 2019. https:\/\/www.justice.gov\/opa\/pr\/south-korean-national-and-hundreds-others-charged-worldwide-takedown-darkest-child (CSAM platform prosecuted via Bitcoin on-chain tracing; 337 arrests across 38 countries.)<\/p>\n\n\n\n<p><strong>US Department of Justice. <\/strong><em>Internet Research Agency Indictment. <\/em>DOJ.gov, February 2018. https:\/\/www.justice.gov\/file\/1035477\/download (Russian election interference; cryptocurrency used to purchase server infrastructure and operational materials.)<\/p>\n\n\n\n<p><strong>US Department of Justice. <\/strong><em>GRU Officers Indictment. <\/em>DOJ.gov, July 2018. https:\/\/www.justice.gov\/opa\/pr\/grand-jury-indicts-12-russian-intelligence-officers-hacking-offenses-related-2016-election (GRU officers; cryptocurrency operational logistics in DNC and Clinton campaign hacking operations.)<\/p>\n\n\n\n<p><strong>US Department of Justice. <\/strong><em>Samourai Wallet Founders Arrested; Charges Subsequently Dropped. <\/em>DOJ.gov, April 2024 \/ March 2025. https:\/\/www.justice.gov\/opa\/pr\/samourai-wallet-founders-arrested-and-charged-money-laundering-and-unlicensed-money (CoinJoin developers charged April 2024; DOJ dropped charges March 2025 under changed regulatory posture. Case illustrates political rather than settled legal nature of privacy tool enforcement.)<\/p>\n\n\n\n<p><strong>FBI Internet Crime Complaint Center. <\/strong><em>2024 Internet Crime Report. <\/em>FBI.gov, 2025. https:\/\/www.ic3.gov\/ (Investment fraud losses $6.57 billion in 2024 \u2014 largest single crime category by dollar loss; total cryptocurrency-related losses $9.3 billion across all crime types.)<\/p>\n\n\n\n<p><strong>TRM Labs. <\/strong><em>The Bybit Hack: Following North Korea&#8217;s Largest Exploit. <\/em>TRMlabs.com, February 2025. https:\/\/www.trmlabs.com\/resources\/blog\/the-bybit-hack-following-north-koreas-largest-exploit ($1.5 billion Ethereum theft; Lazarus Group attribution; laundering methodology; North Korea total crypto theft over $5 billion since 2017 per TRM Labs.)<\/p>\n\n\n\n<p><strong>NIST. <\/strong><em>Post-Quantum Cryptography Standards. <\/em>NIST.gov, August 2024. https:\/\/csrc.nist.gov\/projects\/post-quantum-cryptography (First post-quantum cryptography standards finalised; ECDSA migration guidance for government systems; disallowed by 2035 per NIST IR 8547.)<\/p>\n\n\n\n<p><strong>CNBC \/ Federal Election Commission. <\/strong><em>Crypto-related PACs spend approximately $195 million in 2024 election cycle. <\/em>CNBC.com, 2024\u20132025. https:\/\/www.cnbc.com\/2025\/01\/30\/crypto-pac-fairshake-has-116-million-on-hand-for-2026-elections.html (Fairshake and affiliated committees; $195M spent per FEC data; primary donors Coinbase, Ripple, Andreessen Horowitz.)<\/p>\n\n\n\n<p><strong>Congressional Budget Office. <\/strong><em>The 2024 Long-Term Budget Outlook. <\/em>CBO.gov, March 2024. https:\/\/www.cbo.gov\/publication\/60491 (US federal debt baseline projection: 166% of GDP by 2054. Note: March 2025 update revised this to 154%; article cites the 2024 report accurately for that publication.)<\/p>\n\n\n\n<p><strong>World Gold Council. <\/strong><em>Gold Demand Trends: Full Year 2025. <\/em>gold.org, January 2026. https:\/\/www.gold.org\/goldhub\/research\/gold-demand-trends\/gold-demand-trends-full-year-2025 (53 new all-time highs in 2025; 65% annual gain; strongest performance since 1979.)<\/p>\n\n\n\n<p><strong>The Intercept \/ Gallagher, R.. <\/strong><em>The NSA Worked to Track Bitcoin Users, Snowden Documents Reveal. <\/em>The Intercept, March 2018. https:\/\/theintercept.com\/2018\/03\/20\/the-nsa-worked-to-track-down-bitcoin-users-snowden-documents-reveal\/ (Snowden documents; NSA XKEYSCORE programme and Bitcoin transaction surveillance capability.)<\/p>\n\n\n\n<p><strong>Reuters Investigates. <\/strong><em>How Tether became the cryptocurrency of choice for money launderers. <\/em>Reuters, 2023. https:\/\/www.reuters.com\/investigates\/special-report\/finance-crypto-tether-darkfinance\/ (Tether use in Southeast Asian underground banking; cartel money movement.)<\/p>\n\n\n\n<p><strong>Bybit \/ Ben Zhou. <\/strong><em>CEO Livestream Statement and Public Disclosures Following February 2025 Hack. <\/em>Bybit.com, February\u2013March 2025. https:\/\/www.bybit.com\/ (401,346 ETH stolen at approximately 12:30 PM UTC February 21, 2025; $1.5 billion; 86% converted to Bitcoin confirmed March 20; Lazarus Group attribution.)<\/p>\n\n\n\n<p><strong>b10c.me. <\/strong><em>Bitcoin Mining Centralisation Analysis 2025. <\/em>b10c.me, April 2025. https:\/\/b10c.me\/blog\/015-bitcoin-mining-centralization\/ (Foundry USA approximately 30% of hash rate; AntPool and affiliates approximately 19%; six pools mining over 95% of all blocks.)<\/p>\n\n\n\n<p><strong>UN Human Rights Office. <\/strong><em>Trapped: The Exploitation of Migrant Workers in Southeast Asia&#8217;s Scam Compounds. <\/em>OHCHR.org, 2023. https:\/\/www.ohchr.org\/en\/documents\/thematic-reports\/ahrc5317-situation-human-rights-context-online-scam-operations-south (Over 200,000 people estimated held in scam compounds in Myanmar, Cambodia, and Laos.)<\/p>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>This is a machine translated article. The original version is available in English. NOT INVESTMENT ADVICE Nothing in this article constitutes financial advice or a recommendation to buy, sell, or hold any asset. Bitcoin is a speculative asset. You can lose everything. The scenarios described are analytical frameworks, not predictions. Consult a qualified financial advisor before making any investment decisions. This is a risk-focused analysis. It intentionally emphasises under-discussed downside scenarios and structural constraints that are often absent from mainstream Bitcoin coverage. It should be read alongside \u2014 not as a replacement for \u2014 the standard bullish case. What&#8217;s Next for Bitcoin? Bitcoin hit $126,000 in October 2025 and is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3878,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[145],"tags":[],"class_list":["post-3875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.eikleaf.com\/ja\/wp-json\/wp\/v2\/posts\/3875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eikleaf.com\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eikleaf.com\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eikleaf.com\/ja\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eikleaf.com\/ja\/wp-json\/wp\/v2\/comments?post=3875"}],"version-history":[{"count":13,"href":"https:\/\/www.eikleaf.com\/ja\/wp-json\/wp\/v2\/posts\/3875\/revisions"}],"predecessor-version":[{"id":3962,"href":"https:\/\/www.eikleaf.com\/ja\/wp-json\/wp\/v2\/posts\/3875\/revisions\/3962"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eikleaf.com\/ja\/wp-json\/wp\/v2\/media\/3878"}],"wp:attachment":[{"href":"https:\/\/www.eikleaf.com\/ja\/wp-json\/wp\/v2\/media?parent=3875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eikleaf.com\/ja\/wp-json\/wp\/v2\/categories?post=3875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eikleaf.com\/ja\/wp-json\/wp\/v2\/tags?post=3875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}