{"id":70152,"date":"2024-11-01T14:23:38","date_gmt":"2024-11-01T05:23:38","guid":{"rendered":"https:\/\/monolith.law\/hi\/?p=70152"},"modified":"2024-11-11T15:02:38","modified_gmt":"2024-11-11T06:02:38","slug":"digital-securities","status":"publish","type":"post","link":"https:\/\/monolith.law\/hi\/it\/digital-securities","title":{"rendered":"\u3010Reiwa 6 \u0935\u0930\u094d\u0937 (2024 \u0935\u0930\u094d\u0937) \u0905\u0917\u0938\u094d\u0924\u3011\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c (ST) \u0915\u0947 \u0928\u093f\u092f\u092e\u094b\u0902 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0914\u0930 \u0909\u0938\u0915\u0947 \u0938\u093e\u092e\u0917\u094d\u0930\u0940 \u0924\u0925\u093e \u092a\u094d\u0930\u092d\u093e\u0935 \u0915\u0940 \u0935\u094d\u092f\u093e\u0916\u094d\u092f\u093e"},"content":{"rendered":"\n<p>\u091c\u093e\u092a\u093e\u0928\u0940 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u0947\u0935\u093e \u090f\u091c\u0947\u0902\u0938\u0940 (Financial Services Agency) \u0928\u0947 \u0918\u094b\u0937\u0923\u093e \u0915\u0940 \u0939\u0948 \u0915\u093f \u0930\u0947\u0907\u0935\u093e 6 (2024) \u0915\u0947 \u0905\u0917\u0938\u094d\u0924 \u092e\u0947\u0902 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c (\u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u091f\u094b\u0915\u0928, \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 ST \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0938\u0902\u0926\u0930\u094d\u092d\u093f\u0924) \u0915\u0947 \u0928\u093f\u092f\u092e\u094b\u0902 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0926\u0940 \u091c\u093e\u090f\u0917\u0940\u0964 \u0907\u0938 \u0928\u093f\u092f\u092e\u094b\u0902 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0915\u093e \u0909\u0926\u094d\u0926\u0947\u0936\u094d\u092f \u0926\u0947\u0936 \u092e\u0947\u0902 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u092a\u094d\u0930\u0938\u093e\u0930 \u0915\u094b \u092c\u0922\u093c\u093e\u0935\u093e \u0926\u0947\u0928\u093e \u0939\u0948\u0964 2023 \u0915\u0947 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0935\u0930\u094d\u0937 \u092e\u0947\u0902 \u0918\u0930\u0947\u0932\u0942 \u0915\u0941\u0932 \u091c\u093e\u0930\u0940 \u0930\u093e\u0936\u093f 1000 \u0905\u0930\u092c \u092f\u0947\u0928 \u0924\u0915 \u092a\u0939\u0941\u0901\u091a \u0917\u0908 \u0939\u0948, \u0914\u0930 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0909\u0926\u094d\u092f\u094b\u0917, \u091c\u094b \u0915\u093f \u0927\u094d\u092f\u093e\u0928 \u0915\u093e \u0915\u0947\u0902\u0926\u094d\u0930 \u092c\u0928 \u0917\u092f\u093e \u0939\u0948, \u092a\u0930 \u0907\u0938 \u092c\u093e\u0930 \u0915\u0947 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u0947\u0935\u093e \u090f\u091c\u0947\u0902\u0938\u0940 \u0926\u094d\u0935\u093e\u0930\u093e \u0915\u093f\u090f \u0917\u090f \u0928\u093f\u092f\u092e\u094b\u0902 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0915\u093e \u0915\u094d\u092f\u093e \u092a\u094d\u0930\u092d\u093e\u0935 \u092a\u0921\u093c\u0947\u0917\u093e?<\/p>\n\n\n\n<p>\u0907\u0938 \u0932\u0947\u0916 \u092e\u0947\u0902, \u0939\u092e &#8216;\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c&#8217; \u0915\u094d\u092f\u093e \u0939\u0948\u0902 \u0914\u0930 \u0907\u0938 \u092c\u093e\u0930 \u0915\u0947 \u0928\u093f\u092f\u092e\u094b\u0902 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0915\u0940 \u0938\u093e\u092e\u0917\u094d\u0930\u0940 \u0914\u0930 \u0909\u0938\u0915\u0947 \u092a\u094d\u0930\u092d\u093e\u0935\u094b\u0902 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u0938\u092e\u091d\u093e\u090f\u0902\u0917\u0947\u0964<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A4%BE_%E0%A4%B9%E0%A5%88%E0%A4%82\" title=\"\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u094d\u092f\u093e \u0939\u0948\u0902?\">\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u094d\u092f\u093e \u0939\u0948\u0902?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80_%E0%A4%9F%E0%A5%8B%E0%A4%95%E0%A4%A8_ST_%E0%A4%95%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%9A%E0%A4%AF\" title=\"\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c (\u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u091f\u094b\u0915\u0928, ST) \u0915\u093e \u092a\u0930\u093f\u091a\u092f\">\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c (\u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u091f\u094b\u0915\u0928, ST) \u0915\u093e \u092a\u0930\u093f\u091a\u092f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%AA%E0%A4%BE%E0%A4%B0%E0%A4%82%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%95_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%B8%E0%A5%87_%E0%A4%95%E0%A4%BF%E0%A4%B8_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%95%E0%A4%BE%E0%A4%B0_%E0%A4%AD%E0%A4%BF%E0%A4%A8%E0%A5%8D%E0%A4%A8_%E0%A4%B9%E0%A5%88%E0%A4%82\" title=\"\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u092a\u093e\u0930\u0902\u092a\u0930\u093f\u0915 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0938\u0947 \u0915\u093f\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u092d\u093f\u0928\u094d\u0928 \u0939\u0948\u0902?\">\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u092a\u093e\u0930\u0902\u092a\u0930\u093f\u0915 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0938\u0947 \u0915\u093f\u0938 \u092a\u094d\u0930\u0915\u093e\u0930 \u092d\u093f\u0928\u094d\u0928 \u0939\u0948\u0902?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%95%E0%A5%80_%E0%A4%B5%E0%A4%BF%E0%A4%B6%E0%A5%87%E0%A4%B7%E0%A4%A4%E0%A4%BE%E0%A4%8F%E0%A4%82\" title=\"\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0940 \u0935\u093f\u0936\u0947\u0937\u0924\u093e\u090f\u0902\">\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0940 \u0935\u093f\u0936\u0947\u0937\u0924\u093e\u090f\u0902<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8_%E0%A4%AE%E0%A5%87%E0%A4%82_%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A4%AE%E0%A4%A8_%E0%A4%95%E0%A5%80_%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%AE%E0%A4%BE%E0%A4%A8_%E0%A4%B8%E0%A5%8D%E0%A4%A5%E0%A4%BF%E0%A4%A4%E0%A4%BF_%E0%A4%94%E0%A4%B0_%E0%A4%89%E0%A4%B8%E0%A4%95%E0%A4%BE_%E0%A4%AA%E0%A5%83%E0%A4%B7%E0%A5%8D%E0%A4%A0%E0%A4%AD%E0%A5%82%E0%A4%AE%E0%A4%BF\" title=\"\u091c\u093e\u092a\u093e\u0928 \u092e\u0947\u0902 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0928\u093f\u092f\u092e\u0928 \u0915\u0940 \u0935\u0930\u094d\u0924\u092e\u093e\u0928 \u0938\u094d\u0925\u093f\u0924\u093f \u0914\u0930 \u0909\u0938\u0915\u093e \u092a\u0943\u0937\u094d\u0920\u092d\u0942\u092e\u093f\">\u091c\u093e\u092a\u093e\u0928 \u092e\u0947\u0902 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0928\u093f\u092f\u092e\u0928 \u0915\u0940 \u0935\u0930\u094d\u0924\u092e\u093e\u0928 \u0938\u094d\u0925\u093f\u0924\u093f \u0914\u0930 \u0909\u0938\u0915\u093e \u092a\u0943\u0937\u094d\u0920\u092d\u0942\u092e\u093f<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%95%E0%A5%80_%E0%A4%AC%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%B0%E0%A5%80_%E0%A4%94%E0%A4%B0_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A5%8B%E0%A4%A4%E0%A5%8D%E0%A4%B8%E0%A4%BE%E0%A4%B9%E0%A4%A8_%E0%A4%B8%E0%A5%87_%E0%A4%B8%E0%A4%82%E0%A4%AC%E0%A4%82%E0%A4%A7%E0%A4%BF%E0%A4%A4_%E0%A4%B5%E0%A5%8D%E0%A4%AF%E0%A4%B5%E0%A4%B9%E0%A4%BE%E0%A4%B0_%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A4%AE%E0%A4%A8_%E0%A4%86%E0%A4%A6%E0%A4%BF\" title=\"\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0940 \u092c\u093f\u0915\u094d\u0930\u0940 \u0914\u0930 \u092a\u094d\u0930\u094b\u0924\u094d\u0938\u093e\u0939\u0928 \u0938\u0947 \u0938\u0902\u092c\u0902\u0927\u093f\u0924 \u0935\u094d\u092f\u0935\u0939\u093e\u0930 \u0928\u093f\u092f\u092e\u0928 \u0906\u0926\u093f\">\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0940 \u092c\u093f\u0915\u094d\u0930\u0940 \u0914\u0930 \u092a\u094d\u0930\u094b\u0924\u094d\u0938\u093e\u0939\u0928 \u0938\u0947 \u0938\u0902\u092c\u0902\u0927\u093f\u0924 \u0935\u094d\u092f\u0935\u0939\u093e\u0930 \u0928\u093f\u092f\u092e\u0928 \u0906\u0926\u093f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%95%E0%A5%87_%E0%A4%85%E0%A4%B2%E0%A4%97_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%AC%E0%A4%82%E0%A4%A7%E0%A4%A8_%E0%A4%95%E0%A5%80_%E0%A4%B8%E0%A4%96%E0%A5%8D%E0%A4%A4%E0%A5%80_%E0%A4%86%E0%A4%A6%E0%A4%BF\" title=\"\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0905\u0932\u0917 \u092a\u094d\u0930\u092c\u0902\u0927\u0928 \u0915\u0940 \u0938\u0916\u094d\u0924\u0940 \u0906\u0926\u093f\">\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0905\u0932\u0917 \u092a\u094d\u0930\u092c\u0902\u0927\u0928 \u0915\u0940 \u0938\u0916\u094d\u0924\u0940 \u0906\u0926\u093f<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%95%E0%A5%87_%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A4%AE%E0%A4%A8_%E0%A4%AE%E0%A5%87%E0%A4%82_%E0%A4%A2%E0%A5%80%E0%A4%B2_%E0%A4%B8%E0%A5%87_%E0%A4%86%E0%A4%A8%E0%A5%87_%E0%A4%B5%E0%A4%BE%E0%A4%B2%E0%A5%87_%E0%A4%AC%E0%A4%A6%E0%A4%B2%E0%A4%BE%E0%A4%B5\" title=\"\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0938\u0947 \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u092c\u0926\u0932\u093e\u0935\">\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0938\u0947 \u0906\u0928\u0947 \u0935\u093e\u0932\u0947 \u092c\u0926\u0932\u093e\u0935<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%95%E0%A5%87_%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A4%AE%E0%A4%A8_%E0%A4%AE%E0%A5%87%E0%A4%82_%E0%A4%A2%E0%A5%80%E0%A4%B2_%E0%A4%B8%E0%A5%87_%E0%A4%89%E0%A4%AE%E0%A5%8D%E0%A4%AE%E0%A5%80%E0%A4%A6_%E0%A4%95%E0%A4%BF%E0%A4%8F_%E0%A4%9C%E0%A4%BE%E0%A4%A8%E0%A5%87_%E0%A4%B5%E0%A4%BE%E0%A4%B2%E0%A5%87_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%AD%E0%A4%BE%E0%A4%B5\" title=\"\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0938\u0947 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u093f\u090f \u091c\u093e\u0928\u0947 \u0935\u093e\u0932\u0947 \u092a\u094d\u0930\u092d\u093e\u0935\">\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0938\u0947 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u093f\u090f \u091c\u093e\u0928\u0947 \u0935\u093e\u0932\u0947 \u092a\u094d\u0930\u092d\u093e\u0935<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%AC%E0%A4%BE%E0%A4%9C%E0%A4%BE%E0%A4%B0_%E0%A4%95%E0%A5%87_%E0%A4%B5%E0%A4%BF%E0%A4%95%E0%A4%BE%E0%A4%B8_%E0%A4%95%E0%A5%8B_%E0%A4%AC%E0%A4%A2%E0%A4%BC%E0%A4%BE%E0%A4%B5%E0%A4%BE\" title=\"\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0935\u093f\u0915\u093e\u0938 \u0915\u094b \u092c\u0922\u093c\u093e\u0935\u093e\">\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0935\u093f\u0915\u093e\u0938 \u0915\u094b \u092c\u0922\u093c\u093e\u0935\u093e<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%98%E0%A4%B0%E0%A5%87%E0%A4%B2%E0%A5%82_%E0%A4%94%E0%A4%B0_%E0%A4%B5%E0%A4%BF%E0%A4%A6%E0%A5%87%E0%A4%B6%E0%A5%80_%E0%A4%A8%E0%A4%BF%E0%A4%B5%E0%A5%87%E0%A4%B6%E0%A4%95%E0%A5%8B%E0%A4%82_%E0%A4%95%E0%A5%87_%E0%A4%B2%E0%A4%BF%E0%A4%8F_%E0%A4%86%E0%A4%95%E0%A4%B0%E0%A5%8D%E0%A4%B7%E0%A4%A3\" title=\"\u0918\u0930\u0947\u0932\u0942 \u0914\u0930 \u0935\u093f\u0926\u0947\u0936\u0940 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0906\u0915\u0930\u094d\u0937\u0923\">\u0918\u0930\u0947\u0932\u0942 \u0914\u0930 \u0935\u093f\u0926\u0947\u0936\u0940 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0906\u0915\u0930\u094d\u0937\u0923<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%A8%E0%A4%8F_%E0%A4%B5%E0%A4%BF%E0%A4%A4%E0%A5%8D%E0%A4%A4_%E0%A4%AA%E0%A5%8B%E0%A4%B7%E0%A4%A3_%E0%A4%95%E0%A5%87_%E0%A4%B8%E0%A4%BE%E0%A4%A7%E0%A4%A8%E0%A5%8B%E0%A4%82_%E0%A4%95%E0%A5%80_%E0%A4%AA%E0%A5%87%E0%A4%B6%E0%A4%95%E0%A4%B6\" title=\"\u0928\u090f \u0935\u093f\u0924\u094d\u0924 \u092a\u094b\u0937\u0923 \u0915\u0947 \u0938\u093e\u0927\u0928\u094b\u0902 \u0915\u0940 \u092a\u0947\u0936\u0915\u0936\">\u0928\u090f \u0935\u093f\u0924\u094d\u0924 \u092a\u094b\u0937\u0923 \u0915\u0947 \u0938\u093e\u0927\u0928\u094b\u0902 \u0915\u0940 \u092a\u0947\u0936\u0915\u0936<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%95%E0%A5%87_%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A4%AE%E0%A4%A8_%E0%A4%AE%E0%A5%87%E0%A4%82_%E0%A4%A2%E0%A5%80%E0%A4%B2_%E0%A4%95%E0%A5%80_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%B5%E0%A5%83%E0%A4%A4%E0%A5%8D%E0%A4%A4%E0%A4%BF\" title=\"\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0915\u0940 \u092a\u094d\u0930\u0935\u0943\u0924\u094d\u0924\u093f\">\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0915\u0940 \u092a\u094d\u0930\u0935\u0943\u0924\u094d\u0924\u093f<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%B5%E0%A4%BF%E0%A4%A4%E0%A5%8D%E0%A4%A4%E0%A5%80%E0%A4%AF_%E0%A4%B8%E0%A4%82%E0%A4%B8%E0%A5%8D%E0%A4%A5%E0%A4%BE%E0%A4%A8%E0%A5%8B%E0%A4%82_%E0%A4%94%E0%A4%B0_%E0%A4%95%E0%A4%82%E0%A4%AA%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A5%8B%E0%A4%82_%E0%A4%95%E0%A5%80_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%A4%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%B0%E0%A4%BF%E0%A4%AF%E0%A4%BE\" title=\"\u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u0902\u0938\u094d\u0925\u093e\u0928\u094b\u0902 \u0914\u0930 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e\">\u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u0902\u0938\u094d\u0925\u093e\u0928\u094b\u0902 \u0914\u0930 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%AD%E0%A4%B5%E0%A4%BF%E0%A4%B7%E0%A5%8D%E0%A4%AF_%E0%A4%95%E0%A5%87_%E0%A4%AC%E0%A4%BE%E0%A4%9C%E0%A4%BE%E0%A4%B0_%E0%A4%B0%E0%A5%81%E0%A4%9D%E0%A4%BE%E0%A4%A8_%E0%A4%94%E0%A4%B0_%E0%A4%85%E0%A4%A8%E0%A5%81%E0%A4%AE%E0%A4%BE%E0%A4%A8\" title=\"\u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u092c\u093e\u091c\u093e\u0930 \u0930\u0941\u091d\u093e\u0928 \u0914\u0930 \u0905\u0928\u0941\u092e\u093e\u0928\">\u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u092c\u093e\u091c\u093e\u0930 \u0930\u0941\u091d\u093e\u0928 \u0914\u0930 \u0905\u0928\u0941\u092e\u093e\u0928<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%B8%E0%A4%BE%E0%A4%B0%E0%A4%BE%E0%A4%82%E0%A4%B6_%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A4%AE%E0%A4%A8_%E0%A4%AE%E0%A5%87%E0%A4%82_%E0%A4%A2%E0%A5%80%E0%A4%B2_%E0%A4%B8%E0%A5%87_%E0%A4%AC%E0%A4%BE%E0%A4%9C%E0%A4%BE%E0%A4%B0_%E0%A4%B5%E0%A4%BF%E0%A4%B8%E0%A5%8D%E0%A4%A4%E0%A4%BE%E0%A4%B0_%E0%A4%95%E0%A5%80_%E0%A4%89%E0%A4%AE%E0%A5%8D%E0%A4%AE%E0%A5%80%E0%A4%A6\" title=\"\u0938\u093e\u0930\u093e\u0902\u0936: \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926\">\u0938\u093e\u0930\u093e\u0902\u0936: \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/monolith.law\/hi\/it\/digital-securities\/#%E0%A4%B9%E0%A4%AE%E0%A4%BE%E0%A4%B0%E0%A5%87_%E0%A4%AB%E0%A4%B0%E0%A5%8D%E0%A4%AE_%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_%E0%A4%89%E0%A4%AA%E0%A4%BE%E0%A4%AF%E0%A5%8B%E0%A4%82_%E0%A4%95%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%9A%E0%A4%AF\" title=\"\u0939\u092e\u093e\u0930\u0947 \u092b\u0930\u094d\u092e \u0926\u094d\u0935\u093e\u0930\u093e \u0909\u092a\u093e\u092f\u094b\u0902 \u0915\u093e \u092a\u0930\u093f\u091a\u092f\">\u0939\u092e\u093e\u0930\u0947 \u092b\u0930\u094d\u092e \u0926\u094d\u0935\u093e\u0930\u093e \u0909\u092a\u093e\u092f\u094b\u0902 \u0915\u093e \u092a\u0930\u093f\u091a\u092f<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A4%BE_%E0%A4%B9%E0%A5%88%E0%A4%82\"><\/span>\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u094d\u092f\u093e \u0939\u0948\u0902?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80_%E0%A4%9F%E0%A5%8B%E0%A4%95%E0%A4%A8_ST_%E0%A4%95%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%9A%E0%A4%AF\"><\/span>\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c (\u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u091f\u094b\u0915\u0928, ST) \u0915\u093e \u092a\u0930\u093f\u091a\u092f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c, \u092f\u093e\u0928\u0940 \u092e\u0942\u0932\u094d\u092f\u0935\u093e\u0928 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0905\u0927\u093f\u0915\u093e\u0930\u094b\u0902 \u0915\u094b \u091f\u094b\u0915\u0928 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u093f\u0924 \u0915\u0930\u0928\u093e \u0939\u0948\u0964 \u092f\u0947 \u0936\u0947\u092f\u0930\u094b\u0902, \u092c\u0949\u0928\u094d\u0921\u094d\u0938, \u0914\u0930 \u0928\u093f\u0935\u0947\u0936 \u091f\u094d\u0930\u0938\u094d\u091f\u094d\u0938 \u0915\u0940 \u0924\u0930\u0939 \u0939\u0940 \u092e\u0942\u0932\u094d\u092f\u0935\u093e\u0928 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0939\u0948\u0902, \u091c\u093f\u0928\u0915\u0947 \u0905\u0927\u093f\u0915\u093e\u0930\u094b\u0902 \u0915\u094b \u092c\u094d\u0932\u0949\u0915\u091a\u0947\u0928 \u0924\u0915\u0928\u0940\u0915 \u0915\u093e \u0909\u092a\u092f\u094b\u0917 \u0915\u0930\u0915\u0947 \u091c\u093e\u0930\u0940 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948\u0964 \u0907\u0938\u0938\u0947, \u092a\u093e\u0930\u0902\u092a\u0930\u093f\u0915 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0938\u092e\u093e\u0928 \u0905\u0927\u093f\u0915\u093e\u0930\u094b\u0902 \u0915\u094b \u0921\u093f\u091c\u093f\u091f\u0932 \u092a\u094d\u0930\u093e\u0930\u0942\u092a \u092e\u0947\u0902 \u092a\u094d\u0930\u0938\u094d\u0924\u0941\u0924 \u0915\u093f\u092f\u093e \u091c\u093e \u0938\u0915\u0924\u093e \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u093e \u0938\u0939\u0940 \u0928\u093e\u092e &#8216;\u0907\u0932\u0947\u0915\u094d\u091f\u094d\u0930\u0949\u0928\u093f\u0915 \u0930\u093f\u0915\u0949\u0930\u094d\u0921 \u091f\u094d\u0930\u093e\u0902\u0938\u092b\u0930 \u092e\u0942\u0932\u094d\u092f\u0935\u093e\u0928 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u092a\u094d\u0930\u0926\u0930\u094d\u0936\u0928 \u0905\u0927\u093f\u0915\u093e\u0930 \u0906\u0926\u093f&#8217; \u0939\u0948, \u0914\u0930 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\u092a\u093e\u0930\u0902\u092a\u0930\u093f\u0915 \u092e\u0942\u0932\u094d\u092f\u0935\u093e\u0928 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0914\u0930 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u092e\u0947\u0902 \u0915\u094d\u092f\u093e \u0905\u0902\u0924\u0930 \u0939\u0948\u0902, \u0906\u0907\u090f \u091c\u093e\u0928\u0924\u0947 \u0939\u0948\u0902\u0964<\/p>\n\n\n\n<p>\u0938\u0902\u092c\u0902\u0927\u093f\u0924 \u0932\u0947\u0916: <a href=\"https:\/\/monolith.law\/corporate\/web3-law\" target=\"_blank\" rel=\"noreferrer noopener\">Web3 \u0915\u0947 \u0938\u0902\u092c\u0902\u0927 \u092e\u0947\u0902 \u0915\u093e\u0928\u0942\u0928 \u0915\u094d\u092f\u093e \u0939\u0948? \u0907\u0938\u092e\u0947\u0902 \u092a\u094d\u0930\u0935\u0947\u0936 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0940 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u092c\u093f\u0902\u0926\u0941\u0913\u0902 \u0915\u0940 \u0935\u094d\u092f\u093e\u0916\u094d\u092f\u093e[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%AA%E0%A4%BE%E0%A4%B0%E0%A4%82%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%95_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%B8%E0%A5%87_%E0%A4%95%E0%A4%BF%E0%A4%B8_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%95%E0%A4%BE%E0%A4%B0_%E0%A4%AD%E0%A4%BF%E0%A4%A8%E0%A5%8D%E0%A4%A8_%E0%A4%B9%E0%A5%88%E0%A4%82\"><\/span>\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u092a\u093e\u0930\u0902\u092a\u0930\u093f\u0915 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0938\u0947 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\u0939\u0948, \u091c\u092c\u0915\u093f REIT \u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0930\u0941\u091d\u093e\u0928\u094b\u0902 \u0938\u0947 \u0932\u0917\u093e\u0924\u093e\u0930 \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u0914\u0930 \u092c\u094d\u092f\u093e\u091c \u0926\u0930\u094b\u0902 \u0914\u0930 \u092c\u0921\u093c\u0947 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u0947 \u0932\u0947\u0928-\u0926\u0947\u0928 \u0938\u0947 \u0915\u0940\u092e\u0924\u0947\u0902 \u092c\u0926\u0932\u0924\u0940 \u0930\u0939\u0924\u0940 \u0939\u0948\u0902\u0964<\/p>\n\n\n\n<p>\u0907\u0938\u0915\u0947 \u0905\u0924\u093f\u0930\u093f\u0915\u094d\u0924, \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u092e\u0947\u0902 \u092d\u0940 \u0905\u0902\u0924\u0930 \u0939\u094b\u0924\u093e \u0939\u0948\u0964 REIT \u0936\u0947\u092f\u0930 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0932\u0947\u0928-\u0926\u0947\u0928 \u0915\u093f\u090f \u091c\u093e\u0924\u0947 \u0939\u0948\u0902, \u0907\u0938\u0932\u093f\u090f \u0909\u0928\u0915\u0940 \u0932\u093f\u0915\u094d\u0935\u093f\u0921\u093f\u091f\u0940 \u0905\u0927\u093f\u0915 \u0939\u094b\u0924\u0940 \u0939\u0948 \u0914\u0930 \u0928\u093f\u0935\u0947\u0936\u0915 \u0905\u092a\u0947\u0915\u094d\u0937\u093e\u0915\u0943\u0924 \u0906\u0938\u093e\u0928\u0940 \u0938\u0947 \u0916\u0930\u0940\u0926 \u0914\u0930 \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902\u0964 \u0926\u0942\u0938\u0930\u0940 \u0913\u0930, \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u093e \u0932\u0947\u0928-\u0926\u0947\u0928 \u092e\u0941\u0916\u094d\u092f \u0930\u0942\u092a \u0938\u0947 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u092e\u093e\u0927\u094d\u092f\u092e \u0938\u0947 \u0939\u094b\u0924\u093e \u0939\u0948, \u0914\u0930 \u0932\u0947\u0928-\u0926\u0947\u0928 \u0915\u0947 \u0905\u0935\u0938\u0930 \u0938\u0940\u092e\u093f\u0924 \u0939\u094b\u0924\u0947 \u0939\u0948\u0902\u0964<\/p>\n\n\n\n<p>\u0907\u0938 \u092a\u094d\u0930\u0915\u093e\u0930, \u0905\u0928\u0947\u0915 \u092b\u093e\u092f\u0926\u094b\u0902 \u0915\u0947 \u0938\u093e\u0925, \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u093e \u092a\u094d\u0930\u0938\u093e\u0930 \u091c\u093e\u092a\u093e\u0928 \u092e\u0947\u0902 \u092d\u0940 \u092c\u0922\u093c \u0930\u0939\u093e \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u0938\u0902\u0926\u0930\u094d\u092d\uff1a<a href=\"https:\/\/www.startupandglobalfinancialcity.metro.tokyo.lg.jp\/gfct\/initiatives\/nurturing-players\/fintech\/security-token\" target=\"_blank\" rel=\"noreferrer noopener\">\u091f\u094b\u0915\u094d\u092f\u094b \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c (\u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u091f\u094b\u0915\u0928) \u092e\u093e\u0930\u094d\u0915\u0947\u091f \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u092a\u094d\u0930\u094b\u0924\u094d\u0938\u093e\u0939\u0928 \u092a\u0930\u093f\u092f\u094b\u091c\u0928\u093e \u0938\u0939\u093e\u092f\u0924\u093e \u0905\u0928\u0941\u0926\u093e\u0928[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8_%E0%A4%AE%E0%A5%87%E0%A4%82_%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A4%AE%E0%A4%A8_%E0%A4%95%E0%A5%80_%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%AE%E0%A4%BE%E0%A4%A8_%E0%A4%B8%E0%A5%8D%E0%A4%A5%E0%A4%BF%E0%A4%A4%E0%A4%BF_%E0%A4%94%E0%A4%B0_%E0%A4%89%E0%A4%B8%E0%A4%95%E0%A4%BE_%E0%A4%AA%E0%A5%83%E0%A4%B7%E0%A5%8D%E0%A4%A0%E0%A4%AD%E0%A5%82%E0%A4%AE%E0%A4%BF\"><\/span>\u091c\u093e\u092a\u093e\u0928 \u092e\u0947\u0902 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0928\u093f\u092f\u092e\u0928 \u0915\u0940 \u0935\u0930\u094d\u0924\u092e\u093e\u0928 \u0938\u094d\u0925\u093f\u0924\u093f \u0914\u0930 \u0909\u0938\u0915\u093e \u092a\u0943\u0937\u094d\u0920\u092d\u0942\u092e\u093f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u091c\u0948\u0938\u093e \u0915\u093f \u0905\u092c \u0924\u0915 \u0935\u0930\u094d\u0923\u0928 \u0915\u093f\u092f\u093e \u0917\u092f\u093e \u0939\u0948, \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0915\u0908 \u092b\u093e\u092f\u0926\u0947 \u0939\u0948\u0902, \u0932\u0947\u0915\u093f\u0928 \u0935\u093f\u092d\u093f\u0928\u094d\u0928 \u0915\u093e\u0928\u0942\u0928\u0940 \u0928\u093f\u092f\u092e\u0928\u094b\u0902 \u0915\u0940 \u091a\u0941\u0928\u094c\u0924\u093f\u092f\u093e\u0902 \u092d\u0940 \u0939\u0948\u0902\u0964<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%95%E0%A5%80_%E0%A4%AC%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%B0%E0%A5%80_%E0%A4%94%E0%A4%B0_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A5%8B%E0%A4%A4%E0%A5%8D%E0%A4%B8%E0%A4%BE%E0%A4%B9%E0%A4%A8_%E0%A4%B8%E0%A5%87_%E0%A4%B8%E0%A4%82%E0%A4%AC%E0%A4%82%E0%A4%A7%E0%A4%BF%E0%A4%A4_%E0%A4%B5%E0%A5%8D%E0%A4%AF%E0%A4%B5%E0%A4%B9%E0%A4%BE%E0%A4%B0_%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A4%AE%E0%A4%A8_%E0%A4%86%E0%A4%A6%E0%A4%BF\"><\/span>\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0940 \u092c\u093f\u0915\u094d\u0930\u0940 \u0914\u0930 \u092a\u094d\u0930\u094b\u0924\u094d\u0938\u093e\u0939\u0928 \u0938\u0947 \u0938\u0902\u092c\u0902\u0927\u093f\u0924 \u0935\u094d\u092f\u0935\u0939\u093e\u0930 \u0928\u093f\u092f\u092e\u0928 \u0906\u0926\u093f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u091c\u092c \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0909\u0924\u094d\u092a\u093e\u0926 \u0935\u094d\u092f\u093e\u092a\u093e\u0930\u093f\u092f\u094b\u0902 \u0906\u0926\u093f \u0926\u094d\u0935\u093e\u0930\u093e \u092c\u093f\u0915\u094d\u0930\u0940 \u0914\u0930 \u092a\u094d\u0930\u094b\u0924\u094d\u0938\u093e\u0939\u0928 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0939\u0948, \u0924\u094b \u0936\u0947\u092f\u0930\u094b\u0902 \u0914\u0930 \u0915\u0949\u0930\u094d\u092a\u094b\u0930\u0947\u091f \u092c\u0949\u0928\u094d\u0921\u094d\u0938 \u0915\u0940 \u0924\u0930\u0939, \u091c\u093e\u092a\u093e\u0928\u0940 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0909\u0924\u094d\u092a\u093e\u0926 \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u0915\u093e\u0928\u0942\u0928 (Japanese Financial Instruments and Exchange Act) \u0915\u0947 \u0924\u0939\u0924 \u0935\u094d\u092f\u0935\u0939\u093e\u0930 \u0928\u093f\u092f\u092e\u0928, \u0905\u092a\u0930\u093e\u0927 \u0938\u0947 \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0906\u092f \u0915\u0947 \u0939\u0938\u094d\u0924\u093e\u0902\u0924\u0930\u0923 \u0915\u0940 \u0930\u094b\u0915\u0925\u093e\u092e \u0938\u0947 \u0938\u0902\u092c\u0902\u0927\u093f\u0924 \u0915\u093e\u0928\u0942\u0928 \u0915\u0947 \u0924\u0939\u0924 \u0932\u0947\u0928-\u0926\u0947\u0928 \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f, \u0914\u0930 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u0947\u0935\u093e\u0913\u0902 \u0915\u0940 \u092a\u094d\u0930\u0926\u093e\u0928 \u0915\u0947 \u0938\u0902\u092c\u0902\u0927 \u092e\u0947\u0902 \u0915\u093e\u0928\u0942\u0928 \u0915\u0947 \u0924\u0939\u0924 \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0915\u0940 \u0935\u094d\u092f\u093e\u0916\u094d\u092f\u093e \u091c\u0948\u0938\u0947 \u0915\u0930\u094d\u0924\u0935\u094d\u092f\u094b\u0902 \u0915\u093e \u092a\u093e\u0932\u0928 \u0915\u0930\u0928\u093e \u0906\u0935\u0936\u094d\u092f\u0915 \u0939\u0948 (\u0939\u093e\u0932\u093e\u0902\u0915\u093f, ST \u0915\u0947 \u0932\u093f\u090f, \u092f\u0939 \u0927\u094d\u092f\u093e\u0928 \u0926\u0947\u0928\u093e \u092e\u0939\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u0948 \u0915\u093f \u0935\u0947 \u0935\u0930\u094d\u0924\u092e\u093e\u0928 \u092e\u0947\u0902 \u0917\u0948\u0930-\u0938\u0942\u091a\u0940\u092c\u0926\u094d\u0927 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0939\u0948\u0902)\u0964<\/p>\n\n\n\n<p>\u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e, \u0936\u0947\u092f\u0930\u094b\u0902 \u0914\u0930 \u0915\u0949\u0930\u094d\u092a\u094b\u0930\u0947\u091f \u092c\u0949\u0928\u094d\u0921\u094d\u0938 \u091c\u0948\u0938\u0947 \u092a\u0939\u0932\u0947 \u0905\u0928\u0941\u091a\u094d\u091b\u0947\u0926 \u0915\u0940 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0940 \u0924\u0930\u0939, \u091c\u093e\u092a\u093e\u0928\u0940 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0909\u0924\u094d\u092a\u093e\u0926 \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u0915\u093e\u0928\u0942\u0928 \u0915\u0947 \u0924\u0939\u0924 \u0935\u094d\u092f\u0935\u0939\u093e\u0930 \u0928\u093f\u092f\u092e\u0928 \u0914\u0930 \u0905\u092a\u0930\u093e\u0927 \u0938\u0947 \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0906\u092f \u0915\u0947 \u0939\u0938\u094d\u0924\u093e\u0902\u0924\u0930\u0923 \u0915\u0940 \u0930\u094b\u0915\u0925\u093e\u092e \u0938\u0947 \u0938\u0902\u092c\u0902\u0927\u093f\u0924 \u0915\u093e\u0928\u0942\u0928 \u0915\u0947 \u0924\u0939\u0924 \u0932\u0947\u0928-\u0926\u0947\u0928 \u0915\u0940 \u092a\u0941\u0937\u094d\u091f\u093f, \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u0947\u0935\u093e\u0913\u0902 \u0915\u0940 \u092a\u094d\u0930\u0926\u093e\u0928 \u0915\u0947 \u0938\u0902\u092c\u0902\u0927 \u092e\u0947\u0902 \u0915\u093e\u0928\u0942\u0928 \u0915\u0947 \u0924\u0939\u0924 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class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2024\/08\/a3981a5c40b1d62b825ddbde365be345.jpg\" alt=\"\u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0938\u0947 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u093f\u090f \u091c\u093e\u0928\u0947 \u0935\u093e\u0932\u0947 \u092a\u094d\u0930\u092d\u093e\u0935 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902\" class=\"wp-image-88711\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%AC%E0%A4%BE%E0%A4%9C%E0%A4%BE%E0%A4%B0_%E0%A4%95%E0%A5%87_%E0%A4%B5%E0%A4%BF%E0%A4%95%E0%A4%BE%E0%A4%B8_%E0%A4%95%E0%A5%8B_%E0%A4%AC%E0%A4%A2%E0%A4%BC%E0%A4%BE%E0%A4%B5%E0%A4%BE\"><\/span>\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0935\u093f\u0915\u093e\u0938 \u0915\u094b \u092c\u0922\u093c\u093e\u0935\u093e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0926\u0947\u0936 \u0915\u0947 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0915\u0940 \u092a\u094d\u0930\u0935\u0943\u0924\u094d\u0924\u093f \u0939\u0948, \u0914\u0930 2023 (\u0930\u0947\u0907\u0935\u093e 5) \u0915\u0947 \u0926\u094c\u0930\u093e\u0928 \u0907\u0938\u0915\u0940 \u0932\u0947\u0928-\u0926\u0947\u0928 \u0915\u0940 \u0930\u093e\u0936\u093f \u0932\u0917\u092d\u0917 1000 \u0905\u0930\u092c \u092f\u0947\u0928 \u0924\u0915 \u092a\u0939\u0941\u0901\u091a\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948, \u0914\u0930 2024 (\u0930\u0947\u0907\u0935\u093e 6) \u092e\u0947\u0902 \u092f\u0939 1700 \u0905\u0930\u092c \u092f\u0947\u0928 \u0924\u0915 \u092a\u0939\u0941\u0901\u091a \u0938\u0915\u0924\u0940 \u0939\u0948, \u091c\u093f\u0938\u0938\u0947 \u0907\u0938\u0915\u0947 \u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u0935\u093f\u0915\u093e\u0938 \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0926\u093f\u0916\u093e\u0908 \u0926\u0947 \u0930\u0939\u0940 \u0939\u0948\u0964 \u0926\u0942\u0938\u0930\u0940 \u0913\u0930, \u091c\u093e\u092a\u093e\u0928\u0940 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0909\u0924\u094d\u092a\u093e\u0926 \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u0915\u093e\u0928\u0942\u0928 (Japanese Financial Instruments and Exchange Act) \u091c\u0948\u0938\u0947 \u0928\u093f\u092f\u092e\u0928\u094b\u0902 \u0915\u0947 \u0915\u093e\u0930\u0923, \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u094b \u0938\u0902\u092d\u093e\u0932\u0928\u0947 \u0935\u093e\u0932\u0940 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0938\u0940\u092e\u093f\u0924 \u0939\u0948, \u0914\u0930 \u092a\u0930\u094d\u092f\u093e\u092a\u094d\u0924 \u0935\u093f\u0924\u0930\u0923 \u091a\u0948\u0928\u0932\u094b\u0902 \u0915\u0940 \u0915\u092e\u0940 \u0915\u0947 \u0915\u093e\u0930\u0923, \u091c\u093e\u0930\u0940\u0915\u0930\u094d\u0924\u093e \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0905\u092a\u0947\u0915\u094d\u0937\u093f\u0924 \u0930\u093e\u091c\u0938\u094d\u0935 \u0915\u093e \u0920\u094b\u0938 \u0905\u0928\u0941\u092e\u093e\u0928 \u0932\u0917\u093e\u0928\u093e \u0915\u0920\u093f\u0928 \u092c\u0928\u093e \u0939\u0941\u0906 \u0925\u093e\u0964 \u092f\u0947 \u0915\u093e\u0930\u0915 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u092a\u094d\u0930\u0938\u093e\u0930 \u0915\u094b \u092c\u093e\u0927\u093f\u0924 \u0915\u0930 \u0930\u0939\u0947 \u0925\u0947\u0964<\/p>\n\n\n\n<p>\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u092a\u094d\u0930\u0938\u093e\u0930\u0923 \u0915\u0947 \u0932\u093f\u090f, \u092a\u0939\u0932\u0947 \u0906\u092e\u0924\u094c\u0930 \u092a\u0930 \u090f\u0938\u0947\u091f \u092e\u0948\u0928\u0947\u091c\u092e\u0947\u0902\u091f \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u092a\u093e\u0938 \u092e\u094c\u091c\u0942\u0926 \u0905\u091a\u0932 \u0938\u0902\u092a\u0924\u094d\u0924\u093f\u092f\u094b\u0902 \u0938\u0947, \u091f\u094d\u0930\u0938\u094d\u091f \u092c\u0948\u0902\u0915\u094b\u0902 \u0926\u094d\u0935\u093e\u0930\u093e \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u094b \u091b\u094b\u091f\u0947 \u0939\u093f\u0938\u094d\u0938\u094b\u0902 \u092e\u0947\u0902 \u092c\u093e\u0901\u091f\u0915\u0930 \u0938\u0902\u0917\u0920\u093f\u0924 \u0915\u093f\u092f\u093e \u091c\u093e\u0924\u093e \u0925\u093e, \u0914\u0930 \u092b\u093f\u0930 \u0907\u0928\u094d\u0939\u0947\u0902 \u0915\u0948\u092a\u093f\u091f\u0932 \u0938\u0947 \u0938\u0902\u092c\u0902\u0927\u093f\u0924 \u0928 \u0939\u094b\u0928\u0947 \u0935\u093e\u0932\u0940 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u094b \u0938\u094c\u0902\u092a\u093e \u091c\u093e\u0924\u093e \u0925\u093e, \u091c\u094b \u0907\u0928\u0915\u0940 \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u093e \u0915\u093e\u092e \u0938\u0902\u092d\u093e\u0932\u0924\u0940 \u0925\u0940\u0902\u0964 \u0939\u093e\u0932\u093e\u0902\u0915\u093f, \u0907\u0938 \u092c\u093e\u0930 \u0915\u0947 \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0938\u0947, \u091f\u094d\u0930\u0938\u094d\u091f \u092c\u0948\u0902\u0915\u094b\u0902 \u0915\u0940 \u0917\u094d\u0930\u0941\u092a \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0902\u092a\u0928\u093f\u092f\u093e\u0902 \u092d\u0940 \u0907\u0928\u094d\u0939\u0947\u0902 \u0938\u094d\u0935\u0940\u0915\u093e\u0930 \u0915\u0930 \u092c\u0947\u091a \u0938\u0915\u0947\u0902\u0917\u0940, \u091c\u093f\u0938\u0938\u0947 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0940 \u091c\u093e\u0930\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u0914\u0930 \u092a\u094d\u0930\u0938\u093e\u0930\u0923 \u0938\u0902\u0916\u094d\u092f\u093e \u092e\u0947\u0902 \u0935\u0943\u0926\u094d\u0927\u093f \u0939\u094b\u0917\u0940, \u0914\u0930 \u0907\u0938\u0938\u0947 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u0940 \u0928\u093f\u0935\u0947\u0936 \u0917\u0924\u093f\u0935\u093f\u0927\u093f\u092f\u093e\u0902 \u092d\u0940 \u092c\u0922\u093c\u093e\u0935\u093e \u092a\u093e\u090f\u0902\u0917\u0940\u0964<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%98%E0%A4%B0%E0%A5%87%E0%A4%B2%E0%A5%82_%E0%A4%94%E0%A4%B0_%E0%A4%B5%E0%A4%BF%E0%A4%A6%E0%A5%87%E0%A4%B6%E0%A5%80_%E0%A4%A8%E0%A4%BF%E0%A4%B5%E0%A5%87%E0%A4%B6%E0%A4%95%E0%A5%8B%E0%A4%82_%E0%A4%95%E0%A5%87_%E0%A4%B2%E0%A4%BF%E0%A4%8F_%E0%A4%86%E0%A4%95%E0%A4%B0%E0%A5%8D%E0%A4%B7%E0%A4%A3\"><\/span>\u0918\u0930\u0947\u0932\u0942 \u0914\u0930 \u0935\u093f\u0926\u0947\u0936\u0940 \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0906\u0915\u0930\u094d\u0937\u0923<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0938\u0947, \u0918\u0930\u0947\u0932\u0942 \u092c\u093e\u091c\u093e\u0930 \u092e\u0947\u0902 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0940 \u0938\u0902\u0916\u094d\u092f\u093e \u092e\u0947\u0902 \u0935\u0943\u0926\u094d\u0927\u093f \u0939\u094b\u0928\u0947 \u0938\u0947, \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0935\u093f\u0915\u0932\u094d\u092a \u092c\u0922\u093c\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e, \u091c\u094b\u0916\u093f\u092e \u092a\u094d\u0930\u092c\u0902\u0927\u0928 \u0915\u0947 \u0932\u093f\u090f \u0935\u093f\u0935\u093f\u0927\u0940\u0915\u0930\u0923 \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923 \u0938\u0947, \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0940 \u0909\u0924\u094d\u092a\u093e\u0926 \u0938\u0902\u0916\u094d\u092f\u093e \u092e\u0947\u0902 \u0935\u0943\u0926\u094d\u0927\u093f, \u0928\u093f\u0935\u0947\u0936\u0915\u094b\u0902 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u092c\u0921\u093c\u093e \u0932\u093e\u092d \u0939\u094b \u0938\u0915\u0924\u0940 \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u0935\u093f\u0936\u0947\u0937 \u0930\u0942\u092a \u0938\u0947, \u0905\u091a\u0932 \u0938\u0902\u092a\u0924\u094d\u0924\u093f \u0938\u0947 \u0938\u0902\u092c\u0902\u0927\u093f\u0924 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c, REIT \u0938\u0947 \u0905\u0932\u0917 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902 \u0915\u094d\u092f\u094b\u0902\u0915\u093f \u0907\u0928\u0915\u0940 \u0915\u0940\u092e\u0924\u0947\u0902 \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u092a\u094d\u0930\u092d\u093e\u0935 \u0938\u0947 \u0915\u092e \u092a\u094d\u0930\u092d\u093e\u0935\u093f\u0924 \u0939\u094b\u0924\u0940 \u0939\u0948\u0902, \u0914\u0930 \u0928\u093f\u0935\u0947\u0936\u0915 \u0935\u093e\u0938\u094d\u0924\u0935\u093f\u0915 \u0938\u094d\u0935\u093e\u092e\u093f\u0924\u094d\u0935 \u0915\u0940 \u092d\u093e\u0935\u0928\u093e \u0915\u094b \u0905\u0927\u093f\u0915 \u092e\u091c\u092c\u0942\u0924\u0940 \u0938\u0947 \u092e\u0939\u0938\u0942\u0938 \u0915\u0930 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902, \u091c\u094b \u0928\u093f\u0935\u0947\u0936 \u0917\u0924\u093f\u0935\u093f\u0927\u093f\u092f\u094b\u0902 \u0915\u094b \u092c\u0922\u093c\u093e\u0935\u093e \u0926\u0947\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u090f\u0915 \u092c\u0921\u093c\u093e \u0906\u0915\u0930\u094d\u0937\u0923 \u0939\u094b \u0938\u0915\u0924\u093e \u0939\u0948\u0964<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%A8%E0%A4%8F_%E0%A4%B5%E0%A4%BF%E0%A4%A4%E0%A5%8D%E0%A4%A4_%E0%A4%AA%E0%A5%8B%E0%A4%B7%E0%A4%A3_%E0%A4%95%E0%A5%87_%E0%A4%B8%E0%A4%BE%E0%A4%A7%E0%A4%A8%E0%A5%8B%E0%A4%82_%E0%A4%95%E0%A5%80_%E0%A4%AA%E0%A5%87%E0%A4%B6%E0%A4%95%E0%A4%B6\"><\/span>\u0928\u090f \u0935\u093f\u0924\u094d\u0924 \u092a\u094b\u0937\u0923 \u0915\u0947 \u0938\u093e\u0927\u0928\u094b\u0902 \u0915\u0940 \u092a\u0947\u0936\u0915\u0936<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0907\u0938 \u092c\u093e\u0930 \u0915\u0947 \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0938\u0947, \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0940 \u091c\u093e\u0930\u0940 \u0914\u0930 \u092c\u093f\u0915\u094d\u0930\u0940 \u0915\u094b \u0938\u0941\u091a\u093e\u0930\u0941 \u0930\u0942\u092a \u0938\u0947 \u0915\u0930\u0928\u093e \u0938\u0902\u092d\u0935 \u0939\u094b \u091c\u093e\u090f\u0917\u093e, \u091c\u093f\u0938\u0938\u0947 ST \u0915\u094b \u091c\u093e\u0930\u0940 \u0915\u0930\u0915\u0947 \u0935\u093f\u0924\u094d\u0924 \u092a\u094b\u0937\u0923 \u0915\u0930\u0928\u0947 \u0935\u093e\u0932\u0947 STO (\u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u091f\u094b\u0915\u0928 \u0911\u092b\u0930\u093f\u0902\u0917) \u092e\u0947\u0902 \u0938\u0915\u094d\u0930\u093f\u092f\u0924\u093e \u0906\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u092c\u0948\u0915\u093f\u0902\u0917 \u090f\u0938\u0947\u091f\u094d\u0938 \u0915\u0947 \u092c\u093f\u0928\u093e ICO (\u0907\u0928\u093f\u0936\u093f\u092f\u0932 \u0915\u0949\u0907\u0928 \u0911\u092b\u0930\u093f\u0902\u0917) \u092e\u0947\u0902 \u0927\u094b\u0916\u093e\u0927\u0921\u093c\u0940 \u091c\u0948\u0938\u0947 \u0932\u0947\u0928-\u0926\u0947\u0928 \u0906\u092e \u0925\u0947\u0964 \u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e, IPO (\u0907\u0928\u093f\u0936\u093f\u092f\u0932 \u092a\u092c\u094d\u0932\u093f\u0915 \u0911\u092b\u0930\u093f\u0902\u0917) \u092e\u0947\u0902, \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c \u0915\u0947 \u0932\u093f\u0938\u094d\u091f\u093f\u0902\u0917 \u092e\u093e\u0928\u0915\u094b\u0902 \u0915\u094b \u092a\u0942\u0930\u093e \u0915\u0930\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f, \u092a\u094d\u0930\u0926\u0930\u094d\u0936\u0928 \u0915\u094b \u092c\u0928\u093e\u090f \u0930\u0916\u0924\u0947 \u0939\u0941\u090f \u0906\u0902\u0924\u0930\u093f\u0915 \u092a\u094d\u0930\u092c\u0902\u0927\u0928 \u092a\u094d\u0930\u0923\u093e\u0932\u0940 \u0915\u093e \u0928\u093f\u0930\u094d\u092e\u093e\u0923 \u0915\u0930\u0928\u093e \u0906\u0935\u0936\u094d\u092f\u0915 \u0939\u094b\u0924\u093e \u0939\u0948, \u0914\u0930 \u0935\u093f\u0936\u093e\u0932 \u092e\u093e\u0924\u094d\u0930\u093e \u092e\u0947\u0902 \u0906\u0935\u0947\u0926\u0928 \u0926\u0938\u094d\u0924\u093e\u0935\u0947\u091c\u093c\u094b\u0902 \u0915\u0940 \u0924\u0948\u092f\u093e\u0930\u0940 \u092d\u0940 \u091c\u0930\u0942\u0930\u0940 \u0939\u094b\u0924\u0940 \u0939\u0948, \u091c\u093f\u0938\u0938\u0947 \u0935\u093f\u0924\u094d\u0924 \u092a\u094b\u0937\u0923 \u0924\u0915 \u092a\u0939\u0941\u0901\u091a\u0928\u0947 \u092e\u0947\u0902 \u0915\u0908 \u0938\u093e\u0932 \u0932\u0917 \u0938\u0915\u0924\u0947 \u0939\u0948\u0902 \u0914\u0930 \u092f\u0939 \u091c\u091f\u093f\u0932 \u0914\u0930 \u0915\u0920\u093f\u0928 \u0939\u094b\u0924\u093e \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u0939\u093e\u0932\u093e\u0902\u0915\u093f, STO \u092e\u0947\u0902, \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u092f\u093e \u0938\u0947\u0935\u093e \u0936\u0941\u0930\u0942 \u0939\u094b\u0928\u0947 \u0938\u0947 \u092a\u0939\u0932\u0947 \u092d\u0940 \u0935\u093f\u0924\u094d\u0924 \u092a\u094b\u0937\u0923 \u0938\u0902\u092d\u0935 \u0939\u0948, \u0914\u0930 IPO \u0915\u0940 \u0924\u0941\u0932\u0928\u093e \u092e\u0947\u0902 \u0907\u0938\u092e\u0947\u0902 \u0926\u0938\u094d\u0924\u093e\u0935\u0947\u091c\u093c\u094b\u0902 \u0915\u0940 \u092e\u093e\u0924\u094d\u0930\u093e \u092f\u093e \u092a\u094d\u0930\u0923\u093e\u0932\u0940 \u0915\u0940 \u092e\u093e\u0902\u0917 \u0915\u092e \u0939\u094b\u0924\u0940 \u0939\u0948, \u091c\u093f\u0938\u0938\u0947 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u092a\u0930 \u092c\u094b\u091d \u0915\u092e \u0939\u094b\u0924\u093e \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e, \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0926\u094d\u0935\u093e\u0930\u093e \u0905\u092a\u0928\u0940 \u0935\u093f\u092d\u093f\u0928\u094d\u0928 \u0938\u0902\u092a\u0924\u094d\u0924\u093f\u092f\u094b\u0902 \u0915\u094b \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0914\u0930 ST \u092e\u0947\u0902 \u092c\u0926\u0932\u0915\u0930, \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0947 \u0935\u093f\u0924\u094d\u0924 \u092a\u094b\u0937\u0923 \u0915\u0947 \u0938\u093e\u0927\u0928\u094b\u0902 \u0915\u094b \u0935\u093f\u0935\u093f\u0927\u0924\u093e \u092a\u094d\u0930\u0926\u093e\u0928 \u0915\u0930\u0928\u0947 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u0938\u0902\u092c\u0902\u0927\u093f\u0924 \u0932\u0947\u0916\uff1a<a href=\"https:\/\/monolith.law\/corporate\/sto-securitytoken\" target=\"_blank\" rel=\"noreferrer noopener\">STO \u0914\u0930 ICO \u0915\u0947 \u092c\u0940\u091a \u0915\u093e \u0905\u0902\u0924\u0930 \u0915\u094d\u092f\u093e \u0939\u0948? \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u091f\u094b\u0915\u0928 \u0915\u0940 \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u0914\u0930 STO \u0915\u0947 \u092e\u0939\u0924\u094d\u0935 \u0915\u0947 \u092c\u093e\u0930\u0947 \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0938\u0947 \u091c\u093e\u0928\u0915\u093e\u0930\u0940[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%95%E0%A5%87_%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A4%AE%E0%A4%A8_%E0%A4%AE%E0%A5%87%E0%A4%82_%E0%A4%A2%E0%A5%80%E0%A4%B2_%E0%A4%95%E0%A5%80_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%B5%E0%A5%83%E0%A4%A4%E0%A5%8D%E0%A4%A4%E0%A4%BF\"><\/span>\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0915\u0940 \u092a\u094d\u0930\u0935\u0943\u0924\u094d\u0924\u093f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%B5%E0%A4%BF%E0%A4%A4%E0%A5%8D%E0%A4%A4%E0%A5%80%E0%A4%AF_%E0%A4%B8%E0%A4%82%E0%A4%B8%E0%A5%8D%E0%A4%A5%E0%A4%BE%E0%A4%A8%E0%A5%8B%E0%A4%82_%E0%A4%94%E0%A4%B0_%E0%A4%95%E0%A4%82%E0%A4%AA%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A5%8B%E0%A4%82_%E0%A4%95%E0%A5%80_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%A4%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%B0%E0%A4%BF%E0%A4%AF%E0%A4%BE\"><\/span>\u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u0902\u0938\u094d\u0925\u093e\u0928\u094b\u0902 \u0914\u0930 \u0915\u0902\u092a\u0928\u093f\u092f\u094b\u0902 \u0915\u0940 \u092a\u094d\u0930\u0924\u093f\u0915\u094d\u0930\u093f\u092f\u093e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0918\u0930\u0947\u0932\u0942 \u0938\u094d\u0924\u0930 \u092a\u0930, SBI \u0938\u092e\u0942\u0939 \u0914\u0930 \u092e\u093f\u0924\u094d\u0938\u0941\u0908 \u0938\u0941\u092e\u093f\u0924\u094b\u092e\u094b \u092b\u093e\u0907\u0928\u0947\u0902\u0936\u093f\u092f\u0932 \u0917\u094d\u0930\u0941\u092a \u0926\u094d\u0935\u093e\u0930\u093e \u0928\u093f\u0935\u0947\u0936\u093f\u0924 \u0913\u0938\u093e\u0915\u093e \u0921\u093f\u091c\u093f\u091f\u0932 \u090f\u0915\u094d\u0938\u091a\u0947\u0902\u091c (ODX) \u0928\u0947 \u0928\u093f\u091c\u0940 \u0932\u0947\u0928-\u0926\u0947\u0928 \u092a\u094d\u0930\u0923\u093e\u0932\u0940 &#8216;START (\u0938\u094d\u091f\u093e\u0930\u094d\u091f)&#8217; \u0915\u0940 \u0936\u0941\u0930\u0941\u0906\u0924 \u0915\u0940 \u0939\u0948, \u0914\u0930 \u0930\u0947\u0907\u0935\u093e 5 (2023) \u0915\u0947 \u0926\u093f\u0938\u0902\u092c\u0930 \u092e\u0947\u0902 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u0915\u094b \u0906\u0930\u0902\u092d \u0915\u093f\u092f\u093e \u0939\u0948, \u0914\u0930 \u0907\u0938 \u092c\u093e\u0930 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u0947\u0935\u093e \u090f\u091c\u0947\u0902\u0938\u0940 \u0926\u094d\u0935\u093e\u0930\u093e \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0926\u093f\u090f \u091c\u093e\u0928\u0947 \u0938\u0947 \u0932\u0947\u0928-\u0926\u0947\u0928 \u0915\u0940 \u092e\u093e\u0924\u094d\u0930\u093e \u092e\u0947\u0902 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0915\u0940 \u0938\u0902\u092d\u093e\u0935\u0928\u093e \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u0907\u0938\u0915\u0947 \u0905\u0932\u093e\u0935\u093e, \u091f\u094b\u0915\u094d\u092f\u094b \u092e\u0947\u0902, \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0926\u0947\u0928\u0947 \u0915\u0947 \u0905\u0917\u094d\u0930\u0923\u0940 \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902, \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u092c\u093e\u091c\u093e\u0930 \u0915\u0947 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0915\u094b \u092c\u0922\u093c\u093e\u0935\u093e \u0926\u0947\u0928\u0947 \u0915\u0947 \u0932\u093f\u090f \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u0906\u092e\u0902\u0924\u094d\u0930\u0923 \u0914\u0930 \u0938\u092c\u094d\u0938\u093f\u0921\u0940 \u0915\u0947 \u0932\u093f\u090f \u0906\u0935\u0947\u0926\u0928 \u0936\u0941\u0930\u0942 \u0915\u093f\u090f \u0917\u090f \u0939\u0948\u0902, \u091c\u093f\u0938\u0938\u0947 \u092f\u0939 \u0914\u0930 \u092d\u0940 \u0927\u094d\u092f\u093e\u0928 \u0906\u0915\u0930\u094d\u0937\u093f\u0924 \u0915\u0930 \u0930\u0939\u093e \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u0938\u0902\u0926\u0930\u094d\u092d: <a href=\"https:\/\/www.metro.tokyo.lg.jp\/tosei\/hodohappyo\/press\/2024\/04\/30\/02.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u091f\u094b\u0915\u094d\u092f\u094b \u092e\u0947\u091f\u094d\u0930\u094b\u092a\u094b\u0932\u093f\u091f\u0928 \u0938\u0930\u0915\u093e\u0930 &#8216;\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u092c\u093e\u091c\u093e\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u092a\u094d\u0930\u094b\u0924\u094d\u0938\u093e\u0939\u0928 \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u0906\u092e\u0902\u0924\u094d\u0930\u0923'[ja]<\/a><\/p>\n\n\n\n<p>\u0938\u0902\u0926\u0930\u094d\u092d: <a href=\"https:\/\/www.startupandglobalfinancialcity.metro.tokyo.lg.jp\/gfct\/initiatives\/nurturing-players\/fintech\/security-token\" target=\"_blank\" rel=\"noreferrer noopener\">\u091f\u094b\u0915\u094d\u092f\u094b \u092e\u0947\u091f\u094d\u0930\u094b\u092a\u094b\u0932\u093f\u091f\u0928 \u0938\u0930\u0915\u093e\u0930 &#8216;\u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c (\u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u091f\u094b\u0915\u0928) \u092c\u093e\u091c\u093e\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u092a\u094d\u0930\u094b\u0924\u094d\u0938\u093e\u0939\u0928 \u092a\u0930\u093f\u092f\u094b\u091c\u0928\u093e \u0938\u092c\u094d\u0938\u093f\u0921\u0940'[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%AD%E0%A4%B5%E0%A4%BF%E0%A4%B7%E0%A5%8D%E0%A4%AF_%E0%A4%95%E0%A5%87_%E0%A4%AC%E0%A4%BE%E0%A4%9C%E0%A4%BE%E0%A4%B0_%E0%A4%B0%E0%A5%81%E0%A4%9D%E0%A4%BE%E0%A4%A8_%E0%A4%94%E0%A4%B0_%E0%A4%85%E0%A4%A8%E0%A5%81%E0%A4%AE%E0%A4%BE%E0%A4%A8\"><\/span>\u092d\u0935\u093f\u0937\u094d\u092f \u0915\u0947 \u092c\u093e\u091c\u093e\u0930 \u0930\u0941\u091d\u093e\u0928 \u0914\u0930 \u0905\u0928\u0941\u092e\u093e\u0928<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u092c\u094b\u0938\u094d\u091f\u0928 \u0915\u0902\u0938\u0932\u094d\u091f\u093f\u0902\u0917 \u0917\u094d\u0930\u0941\u092a \u0915\u093e \u0905\u0928\u0941\u092e\u093e\u0928 \u0939\u0948 \u0915\u093f 2022 \u092e\u0947\u0902 310 \u0905\u0930\u092c \u0921\u0949\u0932\u0930 \u0930\u0939\u0947 \u0935\u093f\u0936\u094d\u0935\u0935\u094d\u092f\u093e\u092a\u0940 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0915\u0947 \u091c\u093e\u0930\u0940 \u0930\u093e\u0936\u093f, 2030 \u0924\u0915 16 \u091f\u094d\u0930\u093f\u0932\u093f\u092f\u0928 100 \u0905\u0930\u092c \u0921\u0949\u0932\u0930 \u0924\u0915 \u092c\u0922\u093c \u091c\u093e\u090f\u0917\u0940, \u0914\u0930 \u0928\u093f\u0935\u0947\u0936 \u0915\u0947 \u0932\u093f\u090f \u092c\u093e\u091c\u093e\u0930 \u092e\u0942\u0932\u094d\u092f \u0935\u0948\u0936\u094d\u0935\u093f\u0915 \u0938\u094d\u0924\u0930 \u092a\u0930 \u0914\u0930 \u092d\u0940 \u092c\u0922\u093c\u0924\u093e \u091c\u093e \u0930\u0939\u093e \u0939\u0948, \u091c\u093f\u0938\u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926 \u0915\u0940 \u091c\u093e \u0930\u0939\u0940 \u0939\u0948\u0964<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%B8%E0%A4%BE%E0%A4%B0%E0%A4%BE%E0%A4%82%E0%A4%B6_%E0%A4%A1%E0%A4%BF%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%B2_%E0%A4%B8%E0%A4%BF%E0%A4%95%E0%A5%8D%E0%A4%AF%E0%A5%8B%E0%A4%B0%E0%A4%BF%E0%A4%9F%E0%A5%80%E0%A4%9C_%E0%A4%A8%E0%A4%BF%E0%A4%AF%E0%A4%AE%E0%A4%A8_%E0%A4%AE%E0%A5%87%E0%A4%82_%E0%A4%A2%E0%A5%80%E0%A4%B2_%E0%A4%B8%E0%A5%87_%E0%A4%AC%E0%A4%BE%E0%A4%9C%E0%A4%BE%E0%A4%B0_%E0%A4%B5%E0%A4%BF%E0%A4%B8%E0%A5%8D%E0%A4%A4%E0%A4%BE%E0%A4%B0_%E0%A4%95%E0%A5%80_%E0%A4%89%E0%A4%AE%E0%A5%8D%E0%A4%AE%E0%A5%80%E0%A4%A6\"><\/span>\u0938\u093e\u0930\u093e\u0902\u0936: \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c \u0928\u093f\u092f\u092e\u0928 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0938\u0947 \u092c\u093e\u091c\u093e\u0930 \u0935\u093f\u0938\u094d\u0924\u093e\u0930 \u0915\u0940 \u0909\u092e\u094d\u092e\u0940\u0926<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u0907\u0938 \u092c\u093e\u0930 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\u0938\u093e\u0935\u0927\u093e\u0928\u0940\u092a\u0942\u0930\u094d\u0935\u0915 \u0935\u093f\u091a\u093e\u0930 \u0915\u0930\u0928\u093e \u0906\u0935\u0936\u094d\u092f\u0915 \u0939\u094b\u0917\u093e\u0964<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%B9%E0%A4%AE%E0%A4%BE%E0%A4%B0%E0%A5%87_%E0%A4%AB%E0%A4%B0%E0%A5%8D%E0%A4%AE_%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_%E0%A4%89%E0%A4%AA%E0%A4%BE%E0%A4%AF%E0%A5%8B%E0%A4%82_%E0%A4%95%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%9A%E0%A4%AF\"><\/span>\u0939\u092e\u093e\u0930\u0947 \u092b\u0930\u094d\u092e \u0926\u094d\u0935\u093e\u0930\u093e \u0909\u092a\u093e\u092f\u094b\u0902 \u0915\u093e \u092a\u0930\u093f\u091a\u092f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u092e\u094b\u0928\u094b\u0932\u093f\u0925 \u0932\u0949 \u092b\u0930\u094d\u092e IT \u092e\u0947\u0902, \u0935\u093f\u0936\u0947\u0937 \u0930\u0942\u092a \u0938\u0947 \u0907\u0902\u091f\u0930\u0928\u0947\u091f 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\u0938\u0947 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u0940 \u0939\u0948\u0964<\/p>\n\n\n\n<p>\u092e\u094b\u0928\u094b\u0932\u093f\u0925 \u0932\u0949 \u092b\u0930\u094d\u092e \u0915\u0947 \u0915\u093e\u0930\u094d\u092f \u0915\u094d\u0937\u0947\u0924\u094d\u0930: <a href=\"https:\/\/monolith.law\/blockchain\" target=\"_blank\" rel=\"noreferrer noopener\">\u0915\u094d\u0930\u093f\u092a\u094d\u091f\u094b \u090f\u0938\u0947\u091f\u094d\u0938 \u0914\u0930 \u092c\u094d\u0932\u0949\u0915\u091a\u0947\u0928[ja]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u091c\u093e\u092a\u093e\u0928\u0940 \u0935\u093f\u0924\u094d\u0924\u0940\u092f \u0938\u0947\u0935\u093e \u090f\u091c\u0947\u0902\u0938\u0940 (Financial Services Agency) \u0928\u0947 \u0918\u094b\u0937\u0923\u093e \u0915\u0940 \u0939\u0948 \u0915\u093f \u0930\u0947\u0907\u0935\u093e 6 (2024) \u0915\u0947 \u0905\u0917\u0938\u094d\u0924 \u092e\u0947\u0902 \u0921\u093f\u091c\u093f\u091f\u0932 \u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940\u091c (\u0938\u093f\u0915\u094d\u092f\u094b\u0930\u093f\u091f\u0940 \u091f\u094b\u0915\u0928, \u0907\u0938\u0915\u0947 \u092c\u093e\u0926 ST \u0915\u0947 \u0930\u0942\u092a \u092e\u0947\u0902 \u0938\u0902\u0926\u0930\u094d\u092d\u093f\u0924) \u0915\u0947 \u0928\u093f\u092f\u092e\u094b\u0902 \u092e\u0947\u0902 \u0922\u0940\u0932 \u0926\u0940 \u091c\u093e\u090f\u0917\u0940\u0964 \u0907 [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":71755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[20,19],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/hi\/wp-json\/wp\/v2\/posts\/70152"}],"collection":[{"href":"https:\/\/monolith.law\/hi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/hi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/hi\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/hi\/wp-json\/wp\/v2\/comments?post=70152"}],"version-history":[{"count":3,"href":"https:\/\/monolith.law\/hi\/wp-json\/wp\/v2\/posts\/70152\/revisions"}],"predecessor-version":[{"id":71756,"href":"https:\/\/monolith.law\/hi\/wp-json\/wp\/v2\/posts\/70152\/revisions\/71756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/hi\/wp-json\/wp\/v2\/media\/71755"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/hi\/wp-json\/wp\/v2\/media?parent=70152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/hi\/wp-json\/wp\/v2\/categories?post=70152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/hi\/wp-json\/wp\/v2\/tags?post=70152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}