{"id":59834,"date":"2023-10-27T15:44:52","date_gmt":"2023-10-27T06:44:52","guid":{"rendered":"https:\/\/monolith.law\/vi\/?p=59834"},"modified":"2025-12-03T10:25:26","modified_gmt":"2025-12-03T01:25:26","slug":"comparison-ico-ipo","status":"publish","type":"post","link":"https:\/\/monolith.law\/vi\/general-corporate\/comparison-ico-ipo","title":{"rendered":"L\u1ee3i \u00edch v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a ICO so v\u1edbi IPO"},"content":{"rendered":"\n<p>Ng\u00e0y nay, khi nh\u1eefng c\u00e2u chuy\u1ec7n v\u1ec1 s\u1ef1 t\u0103ng gi\u00e1 \u0111\u1ed9t bi\u1ebfn ho\u1eb7c s\u1ee5t gi\u1ea3m c\u1ee7a gi\u00e1 Bitcoin v\u00e0 c\u00e1c lo\u1ea1i ti\u1ec1n \u1ea3o kh\u00e1c ng\u00e0y c\u00e0ng tr\u1edf n\u00ean ph\u1ed5 bi\u1ebfn, c\u00f3 th\u1ec3 n\u00f3i r\u1eb1ng ti\u1ec1n \u1ea3o \u0111\u00e3 tr\u1edf th\u00e0nh m\u1ed9t ph\u1ea7n c\u1ee7a vi\u1ec7c qu\u1ea3n l\u00fd t\u00e0i s\u1ea3n v\u00e0 \u0111\u00e3 \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn r\u1ed9ng r\u00e3i trong x\u00e3 h\u1ed9i. Th\u1ef1c t\u1ebf, m\u1ee9c \u0111\u1ed9 m\u00e0 m\u1ed7i ng\u01b0\u1eddi c\u00f3 th\u1ec3 h\u1ee9ng th\u00fa v\u1edbi n\u00f3 c\u00f3 th\u1ec3 kh\u00e1c nhau do c\u1ea3 r\u1ee7i ro v\u00e0 l\u1ee3i nhu\u1eadn \u0111\u1ec1u c\u00f3 th\u1ec3 t\u0103ng l\u00ean, nh\u01b0ng n\u1ebfu l\u00e0 ng\u01b0\u1eddi quan t\u00e2m \u0111\u1ebfn \u0111\u1ea7u t\u01b0, h\u1ecd c\u0169ng s\u1ebd quan t\u00e2m \u0111\u1ebfn vi\u1ec7c s\u1edf h\u1eefu ti\u1ec1n \u1ea3o.<\/p>\n\n\n\n<p>Tuy nhi\u00ean, ti\u1ec1n \u1ea3o kh\u00f4ng ch\u1ec9 l\u00e0 m\u1ed9t \u0111\u1ed1i t\u01b0\u1ee3ng \u0111\u1ea7u t\u01b0 m\u00e0 b\u1ea1n c\u00f3 th\u1ec3 mua t\u1eeb nh\u1eefng ngu\u1ed3n \u0111\u00e3 l\u01b0u th\u00f4ng, m\u00e0 th\u1ef1c t\u1ebf, b\u1ea1n c\u0169ng c\u00f3 th\u1ec3 tr\u1edf th\u00e0nh ng\u01b0\u1eddi ph\u00e1t h\u00e0nh ti\u1ec1n \u1ea3o v\u00e0 s\u1eed d\u1ee5ng n\u00f3 nh\u01b0 m\u1ed9t ph\u01b0\u01a1ng ti\u1ec7n \u0111\u1ec3 g\u1ecdi v\u1ed1n t\u1eeb ng\u01b0\u1eddi kh\u00e1c. Vi\u1ec7c s\u1eed d\u1ee5ng ti\u1ec1n \u1ea3o \u0111\u1ec3 g\u1ecdi v\u1ed1n \u0111\u1ed5i l\u1ea5y ti\u1ec1n t\u1ec7 \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 ICO (Initial Coin Offering) trong ng\u00f4n ng\u1eef IT. \u0110i\u1ec3m kh\u00e1c bi\u1ec7t quan tr\u1ecdng gi\u1eefa ti\u1ec1n \u1ea3o v\u00e0 c\u00e1c c\u00f4ng ngh\u1ec7 hi\u1ec7n c\u00f3 nh\u01b0 ti\u1ec1n \u0111i\u1ec7n t\u1eed l\u00e0 vi\u1ec7c n\u00f3 \u0111\u00e3 t\u1ea1o ra ph\u01b0\u01a1ng ph\u00e1p g\u1ecdi v\u1ed1n m\u1edbi n\u00e0y. C\u00f4ng ngh\u1ec7 ti\u1ec1n \u1ea3o m\u1edbi n\u00e0y \u0111\u01b0a ra m\u1ed9t c\u00e1ch th\u1ee9c m\u1edbi \u0111\u1ec3 g\u1ecdi v\u1ed1n trong x\u00e3 h\u1ed9i. Ch\u00ednh v\u00ec v\u1eady, n\u00f3 c\u00f3 th\u1ec3 t\u1ea1o ra \u1ea3nh h\u01b0\u1edfng l\u1edbn \u0111\u1ed1i v\u1edbi c\u00e1ch th\u1ee9c ho\u1ea1t \u0111\u1ed9ng c\u1ee7a ng\u00e0nh t\u00e0i ch\u00ednh hi\u1ec7n t\u1ea1i, v\u00e0 t\u1eeb \u0111\u00f3 t\u1ea1o ra c\u1ea3 k\u1ef3 v\u1ecdng v\u00e0 lo ng\u1ea1i l\u1edbn.<\/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\/vi\/general-corporate\/comparison-ico-ipo\/#Diem_chung_giua_IPO_va_ICO\" title=\"\u0110i\u1ec3m chung gi\u1eefa IPO v\u00e0 ICO\">\u0110i\u1ec3m chung gi\u1eefa IPO v\u00e0 ICO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/comparison-ico-ipo\/#Chuyen_gia_IPO_la_cong_ty_kiem_toan_va_ke_toan_vien_vay_con_ICO\" title=\"Chuy\u00ean gia IPO l\u00e0 c\u00f4ng ty ki\u1ec3m to\u00e1n v\u00e0 k\u1ebf to\u00e1n vi\u00ean, v\u1eady c\u00f2n ICO?\">Chuy\u00ean gia IPO l\u00e0 c\u00f4ng ty ki\u1ec3m to\u00e1n v\u00e0 k\u1ebf to\u00e1n vi\u00ean, v\u1eady c\u00f2n ICO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/comparison-ico-ipo\/#Loi_ich_cua_ICO\" title=\"L\u1ee3i \u00edch c\u1ee7a ICO\">L\u1ee3i \u00edch c\u1ee7a ICO<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/comparison-ico-ipo\/#Loi_ich_1_Thu_tuc_don_gian_va_tiet_kiem_chi_phi\" title=\"L\u1ee3i \u00edch 1: Th\u1ee7 t\u1ee5c \u0111\u01a1n gi\u1ea3n v\u00e0 ti\u1ebft ki\u1ec7m chi ph\u00ed\">L\u1ee3i \u00edch 1: Th\u1ee7 t\u1ee5c \u0111\u01a1n gi\u1ea3n v\u00e0 ti\u1ebft ki\u1ec7m chi ph\u00ed<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/comparison-ico-ipo\/#Loi_ich_2_Co_the_huy_dong_von_ma_khong_can_chuyen_quyen_kiem_soat\" title=\"L\u1ee3i \u00edch 2: C\u00f3 th\u1ec3 huy \u0111\u1ed9ng v\u1ed1n m\u00e0 kh\u00f4ng c\u1ea7n chuy\u1ec3n quy\u1ec1n ki\u1ec3m so\u00e1t\">L\u1ee3i \u00edch 2: C\u00f3 th\u1ec3 huy \u0111\u1ed9ng v\u1ed1n m\u00e0 kh\u00f4ng c\u1ea7n chuy\u1ec3n quy\u1ec1n ki\u1ec3m so\u00e1t<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/comparison-ico-ipo\/#Loi_ich_3_Khong_can_thiet_phai_thuc_hien_theo_don_vi_cong_ty\" title=\"L\u1ee3i \u00edch 3: Kh\u00f4ng c\u1ea7n thi\u1ebft ph\u1ea3i th\u1ef1c hi\u1ec7n theo \u0111\u01a1n v\u1ecb c\u00f4ng ty\">L\u1ee3i \u00edch 3: Kh\u00f4ng c\u1ea7n thi\u1ebft ph\u1ea3i th\u1ef1c hi\u1ec7n theo \u0111\u01a1n v\u1ecb c\u00f4ng ty<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/comparison-ico-ipo\/#Nhuoc_diem_cua_ICO\" title=\"Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a ICO\">Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a ICO<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/comparison-ico-ipo\/#Nhuoc_diem_1_Chua_pho_bien\" title=\"Nh\u01b0\u1ee3c \u0111i\u1ec3m 1: Ch\u01b0a ph\u1ed5 bi\u1ebfn\">Nh\u01b0\u1ee3c \u0111i\u1ec3m 1: Ch\u01b0a ph\u1ed5 bi\u1ebfn<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/comparison-ico-ipo\/#Nhuoc_diem_2_Duoc_canh_bao_la_co_the_la_lua_dao\" title=\"Nh\u01b0\u1ee3c \u0111i\u1ec3m 2: \u0110\u01b0\u1ee3c c\u1ea3nh b\u00e1o l\u00e0 c\u00f3 th\u1ec3 l\u00e0 l\u1eeba \u0111\u1ea3o\">Nh\u01b0\u1ee3c \u0111i\u1ec3m 2: \u0110\u01b0\u1ee3c c\u1ea3nh b\u00e1o l\u00e0 c\u00f3 th\u1ec3 l\u00e0 l\u1eeba \u0111\u1ea3o<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/comparison-ico-ipo\/#Nhuoc_diem_3_Chua_co_nhieu_vi_du_trong_qua_khu\" title=\"Nh\u01b0\u1ee3c \u0111i\u1ec3m 3: Ch\u01b0a c\u00f3 nhi\u1ec1u v\u00ed d\u1ee5 trong qu\u00e1 kh\u1ee9\">Nh\u01b0\u1ee3c \u0111i\u1ec3m 3: Ch\u01b0a c\u00f3 nhi\u1ec1u v\u00ed d\u1ee5 trong qu\u00e1 kh\u1ee9<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/comparison-ico-ipo\/#Tom_tat\" title=\"T\u00f3m t\u1eaft\">T\u00f3m t\u1eaft<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Diem_chung_giua_IPO_va_ICO\"><\/span>\u0110i\u1ec3m chung gi\u1eefa IPO v\u00e0 ICO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>V\u1eady vi\u1ec7c &#8220;ph\u00e1t h\u00e0nh ti\u1ec1n \u1ea3o c\u1ee7a ri\u00eang m\u00ecnh&#8221; v\u00e0 &#8220;g\u1ecdi v\u1ed1n b\u1eb1ng ti\u1ec1n \u1ea3o&#8221; c\u1ee5 th\u1ec3 s\u1ebd tr\u1ea3i qua qu\u00e1 tr\u00ecnh nh\u01b0 th\u1ebf n\u00e0o? Th\u1ef1c ra, \u0111\u00e2y l\u00e0 m\u1ed9t qu\u00e1 tr\u00ecnh ti\u1ebfn tri\u1ec3n t\u01b0\u01a1ng t\u1ef1 nh\u01b0 IPO (Initial Public Offering, c\u00f2n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 \u0110\u1ea5u gi\u00e1 c\u1ed5 phi\u1ebfu l\u1ea7n \u0111\u1ea7u ra c\u00f4ng ch\u00fang) hi\u1ec7n t\u1ea1i. T\u00f4i s\u1ebd \u0111\u1ec3 vi\u1ec7c gi\u1ea3i th\u00edch chi ti\u1ebft v\u1ec1 IPO cho c\u00e1c s\u00e1ch tham kh\u1ea3o kh\u00e1c v\u00e0 c\u00e1c trang web chi ti\u1ebft h\u01a1n, nh\u01b0ng th\u1ef1c ra, n\u1ebfu b\u1ea1n hi\u1ec3u c\u01a1 b\u1ea3n v\u1ec1 IPO, vi\u1ec7c hi\u1ec3u ICO c\u0169ng s\u1ebd tr\u1edf n\u00ean d\u1ec5 d\u00e0ng h\u01a1n. N\u1ebfu b\u1ea1n so s\u00e1nh v\u1edbi IPO v\u00e0 xem x\u00e9t \u0111i\u1ec3m chung v\u00e0 kh\u00e1c bi\u1ec7t, b\u1ea1n s\u1ebd th\u1ea5y r\u1eb1ng \u01b0u \u0111i\u1ec3m v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a ICO h\u1ea7u nh\u01b0 l\u00e0 m\u1ed1i quan h\u1ec7 gi\u1eefa hai m\u1eb7t c\u1ee7a \u0111\u1ed3ng xu.<\/p>\n\n\n\n<p>N\u1ebfu ch\u00fang ta n\u00f3i v\u1ec1 \u0111i\u1ec3m chung gi\u1eefa ICO v\u00e0 IPO, \u0111i\u1ec3m \u0111\u1ea7u ti\u00ean c\u1ea7n l\u01b0u \u00fd l\u00e0 \u0111\u00f3 l\u00e0 ph\u01b0\u01a1ng ti\u1ec7n g\u1ecdi v\u1ed1n cho doanh nh\u00e2n. V\u00ed d\u1ee5, khi kh\u1edfi x\u01b0\u1edbng m\u1ed9t doanh nghi\u1ec7p m\u1edbi, h\u1ea7u h\u1ebft c\u00e1c tr\u01b0\u1eddng h\u1ee3p \u0111\u1ec1u c\u1ea7n m\u1ed9t s\u1ed1 ti\u1ec1n l\u1edbn, \u0111i\u1ec1u n\u00e0y kh\u00f4ng c\u1ea7n ph\u1ea3i n\u00f3i. D\u00f9 k\u1ebf ho\u1ea1ch \u0111\u1ea7y \u1eafp \u01b0\u1edbc m\u01a1 v\u00e0 hy v\u1ecdng, n\u1ebfu kh\u00f4ng c\u00f3 ngu\u1ed3n t\u00e0i ch\u00ednh \u0111\u1ee7, n\u00f3 c\u00f3 th\u1ec3 tr\u1edf th\u00e0nh m\u1ed9t b\u1ee9c tranh v\u1ebd tr\u00ean kh\u00f4ng.<\/p>\n\n\n\n<p>IPO, n\u1ebfu gi\u1ea3i th\u00edch m\u1ed9t c\u00e1ch \u0111\u01a1n gi\u1ea3n, c\u00f3 th\u1ec3 n\u00f3i l\u00e0 m\u1ed9t c\u00e1ch g\u1ecdi v\u1ed1n b\u1eb1ng c\u00e1ch l\u01b0u th\u00f4ng c\u1ed5 phi\u1ebfu, bi\u1ec3u th\u1ecb m\u1ed9t ph\u1ea7n gi\u00e1 tr\u1ecb t\u00e0i s\u1ea3n c\u1ee7a c\u00f4ng ty, tr\u00ean th\u1ecb tr\u01b0\u1eddng giao d\u1ecbch. N\u1ebfu nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u00ecn th\u1ea5y ti\u1ec1m n\u0103ng trong doanh nghi\u1ec7p c\u1ee7a c\u00f4ng ty, gi\u00e1 tr\u1ecb th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u1ed5 phi\u1ebfu s\u1ebd t\u1ef1 \u0111\u1ed9ng t\u0103ng l\u00ean, v\u00e0 c\u00f4ng ty s\u1ebd c\u00f3 \u0111\u01b0\u1ee3c ngu\u1ed3n t\u00e0i ch\u00ednh \u0111\u1ec3 th\u1ef1c hi\u1ec7n doanh nghi\u1ec7p c\u1ee7a m\u00ecnh.<\/p>\n\n\n\n<p>Ng\u01b0\u1ee3c l\u1ea1i, ICO \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n b\u1eb1ng c\u00e1ch ph\u00e1t h\u00e0nh m\u1ed9t lo\u1ea1i ti\u1ec1n \u1ea3o m\u1edbi g\u1ecdi l\u00e0 token \u0111\u1ec3 g\u1ecdi v\u1ed1n. C\u1ea5u tr\u00fac n\u00e0y, trong \u0111\u00f3 s\u1ef1 t\u0103ng gi\u00e1 c\u1ee7a ti\u1ec1n \u1ea3o \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng theo s\u1ef1 ph\u00e1t tri\u1ec3n c\u1ee7a doanh nghi\u1ec7p, c\u00f3 th\u1ec3 n\u00f3i r\u1eb1ng n\u00f3 c\u00f3 m\u1ed1i quan h\u1ec7 gi\u1ed1ng nh\u01b0 c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty ni\u00eam y\u1ebft.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Chuyen_gia_IPO_la_cong_ty_kiem_toan_va_ke_toan_vien_vay_con_ICO\"><\/span>Chuy\u00ean gia IPO l\u00e0 c\u00f4ng ty ki\u1ec3m to\u00e1n v\u00e0 k\u1ebf to\u00e1n vi\u00ean, v\u1eady c\u00f2n ICO?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u0110i\u1ec1u \u0111\u00e1ng ch\u00fa \u00fd l\u00e0 vi\u1ec7c g\u1ecdi v\u1ed1n th\u00f4ng qua IPO c\u0169ng c\u00f3 ngh\u0129a l\u00e0 c\u00f4ng ty \u0111\u00f3 tr\u1edf th\u00e0nh c\u00f4ng ty ni\u00eam y\u1ebft. Do \u0111\u00f3, t\u1ea5t nhi\u00ean, s\u1ebd c\u00f3 s\u1ef1 t\u00edn nhi\u1ec7m x\u00e3 h\u1ed9i t\u01b0\u01a1ng \u1ee9ng \u0111i k\u00e8m. C\u00f3 th\u1ec3 n\u00f3i r\u1eb1ng IPO ch\u1ec9 c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n sau khi tr\u1ea3i qua qu\u00e1 tr\u00ecnh ki\u1ec3m tra nghi\u00eam ng\u1eb7t c\u1ee7a C\u01a1 quan T\u00e0i ch\u00ednh Nh\u1eadt B\u1ea3n, c\u00f4ng ty ch\u1ee9ng kho\u00e1n, s\u1edf giao d\u1ecbch ch\u1ee9ng kho\u00e1n, v.v., ch\u00ednh v\u00ec l\u00fd do n\u00e0y.<\/p>\n\n\n\n<p>H\u1ed7 tr\u1ee3 cho IPO c\u1ee7a doanh nghi\u1ec7p n\u00f3i chung \u0111\u01b0\u1ee3c coi l\u00e0 l\u0129nh v\u1ef1c chuy\u00ean m\u00f4n c\u1ee7a c\u00f4ng ty ki\u1ec3m to\u00e1n v\u00e0 k\u1ebf to\u00e1n vi\u00ean c\u00f4ng nh\u1eadn. L\u00fd do c\u0169ng t\u01b0\u01a1ng t\u1ef1, \u0111\u1ec3 v\u01b0\u1ee3t qua c\u00e1c cu\u1ed9c ki\u1ec3m tra nghi\u00eam ng\u1eb7t cho IPO, quan \u0111i\u1ec3m c\u1ee7a m\u1ed9t chuy\u00ean gia ki\u1ec3m to\u00e1n k\u1ebf to\u00e1n c\u00f3 l\u1ebd s\u1ebd h\u1eefu \u00edch.<\/p>\n\n\n\n<p>Ng\u01b0\u1ee3c l\u1ea1i, ICO kh\u00f4ng c\u1ea7n ph\u1ea3i tr\u1ea3i qua qu\u00e1 tr\u00ecnh ki\u1ec3m tra nghi\u00eam ng\u1eb7t hay th\u1ee7 t\u1ee5c ph\u1ee9c t\u1ea1p nh\u01b0 IPO. Thay v\u00e0o \u0111\u00f3, c\u00f3 th\u1ec3 n\u00f3i r\u1eb1ng m\u1ed9t trong nh\u1eefng l\u1ee3i \u00edch c\u1ee7a ICO l\u00e0 b\u1ea5t k\u1ef3 ai c\u0169ng c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n nhanh ch\u00f3ng.<\/p>\n\n\n\n<p>Tuy nhi\u00ean, ch\u1ec9 v\u00ec ICO kh\u00f4ng c\u1ea7n c\u00e1c th\u1ee7 t\u1ee5c ph\u1ee9c t\u1ea1p nh\u01b0 IPO truy\u1ec1n th\u1ed1ng kh\u00f4ng c\u00f3 ngh\u0129a l\u00e0 kh\u00f4ng c\u1ea7n ki\u1ebfn th\u1ee9c v\u1ec1 th\u1ee7 t\u1ee5c h\u00e0nh ch\u00ednh hay lu\u1eadt ph\u00e1p. V\u00ed d\u1ee5, n\u1ebfu token m\u00e0 doanh nghi\u1ec7p ph\u00e1t h\u00e0nh t\u01b0\u01a1ng \u1ee9ng v\u1edbi &#8220;ti\u1ec1n \u1ea3o&#8221; theo Lu\u1eadt thanh to\u00e1n v\u1ed1n \u0111\u00e3 \u0111\u01b0\u1ee3c s\u1eeda \u0111\u1ed5i c\u1ee7a Nh\u1eadt B\u1ea3n, s\u1ebd c\u1ea7n \u0111\u0103ng k\u00fd l\u00e0m nh\u00e0 giao d\u1ecbch ti\u1ec1n \u1ea3o. Ngo\u00e0i ra, ngay c\u1ea3 khi kh\u00f4ng t\u01b0\u01a1ng \u1ee9ng v\u1edbi ti\u1ec1n \u1ea3o, n\u1ebfu \u0111\u01b0\u1ee3c coi l\u00e0 ph\u01b0\u01a1ng th\u1ee9c thanh to\u00e1n tr\u1ea3 tr\u01b0\u1edbc gi\u1ed1ng nh\u01b0 ti\u1ec1n \u0111i\u1ec7n t\u1eed, c\u00f3 th\u1ec3 ph\u00e1t sinh ngh\u0129a v\u1ee5 th\u00f4ng b\u00e1o tr\u01b0\u1edbc ho\u1eb7c ngh\u0129a v\u1ee5 g\u1eedi ti\u1ec1n \u0111\u1eb7t c\u1ecdc cho ch\u00ednh ph\u1ee7. N\u00f3i c\u00e1ch kh\u00e1c, ngay c\u1ea3 khi chi ph\u00ed v\u00e0 th\u1eddi gian cho c\u00e1c th\u1ee7 t\u1ee5c c\u00f3 th\u1ec3 gi\u1ea3m, kh\u00f4ng ph\u1ea3i l\u00fac n\u00e0o c\u0169ng c\u00f3 th\u1ec3 l\u00e0m theo \u00fd mu\u1ed1n. Trong ngh\u0129a n\u00e0y, c\u00f3 th\u1ec3 n\u00f3i r\u1eb1ng IPO, n\u01a1i lu\u1eadt ph\u00e1p r\u00f5 r\u00e0ng t\u1ed3n t\u1ea1i v\u00e0 ch\u1ec9 c\u1ea7n ti\u1ebfn theo &#8220;\u0111\u01b0\u1eddng ray&#8221; m\u00e0 kh\u00f4ng g\u1eb7p v\u1ea5n \u0111\u1ec1, th\u1eadm ch\u00ed c\u00f2n &#8220;an to\u00e0n&#8221; h\u01a1n.<\/p>\n\n\n\n<p>Ch\u00ednh v\u00ec kh\u00f4ng c\u00f3 lu\u1eadt ph\u00e1p n\u00e0o \u0111i\u1ec1u ch\u1ec9nh tr\u1ef1c ti\u1ebfp ICO, vi\u1ec7c t\u00ecm ra ranh gi\u1edbi gi\u1eefa h\u1ee3p ph\u00e1p v\u00e0 b\u1ea5t h\u1ee3p ph\u00e1p tr\u1edf n\u00ean kh\u00f3 kh\u0103n h\u01a1n, v\u00e0 vi\u1ec7c hi\u1ec3u lu\u1eadt ph\u00e1p d\u1ef1a tr\u00ean nguy\u00ean t\u1eafc c\u01a1 b\u1ea3n tr\u1edf n\u00ean quan tr\u1ecdng h\u01a1n. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Loi_ich_cua_ICO\"><\/span>L\u1ee3i \u00edch c\u1ee7a ICO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>D\u1ef1a tr\u00ean n\u1ed9i dung \u0111\u00e3 n\u00eau tr\u00ean, ch\u00fang ta h\u00e3y t\u1ed5ng h\u1ee3p c\u00e1c l\u1ee3i \u00edch v\u00e0 nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a ICO. D\u01b0\u1edbi \u0111\u00e2y, ch\u00fang ta s\u1ebd n\u00eau l\u00ean c\u00e1c l\u1ee3i \u00edch t\u1eeb g\u00f3c \u0111\u1ed9 qu\u1ea3n l\u00fd doanh nghi\u1ec7p.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Loi_ich_1_Thu_tuc_don_gian_va_tiet_kiem_chi_phi\"><\/span>L\u1ee3i \u00edch 1: Th\u1ee7 t\u1ee5c \u0111\u01a1n gi\u1ea3n v\u00e0 ti\u1ebft ki\u1ec7m chi ph\u00ed<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Kh\u00f4ng c\u1ea7n ph\u1ea3i qua s\u1ef1 ki\u1ec3m duy\u1ec7t c\u1ee7a C\u01a1 quan T\u00e0i ch\u00ednh Nh\u1eadt B\u1ea3n, c\u00f4ng ty ch\u1ee9ng kho\u00e1n, s\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n, v.v., n\u00ean th\u1ee7 t\u1ee5c \u0111\u01a1n gi\u1ea3n h\u01a1n v\u00e0 chi ph\u00ed thu\u00ea k\u1ebf to\u00e1n c\u0169ng gi\u1ea3m \u0111i.<br> \u2192 \u0110i\u1ec1u n\u00e0y kh\u00f4ng ch\u1ec9 gi\u00fap gi\u1ea3m chi ph\u00ed kinh t\u1ebf m\u00e0 c\u00f2n t\u1ea1o ra l\u1ee3i \u00edch cho m\u1ecdi ng\u01b0\u1eddi c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n m\u1ed9t c\u00e1ch nhanh ch\u00f3ng.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Loi_ich_2_Co_the_huy_dong_von_ma_khong_can_chuyen_quyen_kiem_soat\"><\/span>L\u1ee3i \u00edch 2: C\u00f3 th\u1ec3 huy \u0111\u1ed9ng v\u1ed1n m\u00e0 kh\u00f4ng c\u1ea7n chuy\u1ec3n quy\u1ec1n ki\u1ec3m so\u00e1t<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>C\u1ed5 phi\u1ebfu li\u00ean k\u1ebft v\u1edbi quy\u1ec1n ki\u1ec3m so\u00e1t c\u00f4ng ty, nh\u01b0ng ICO cho ph\u00e9p &#8220;huy \u0111\u1ed9ng v\u1ed1n m\u00e0 kh\u00f4ng c\u1ea7n chuy\u1ec3n quy\u1ec1n ki\u1ec3m so\u00e1t&#8221;.<br> \u2192 Quy\u1ec1n ki\u1ec3m so\u00e1t c\u00f4ng ty c\u1ee7a c\u1ed5 \u0111\u00f4ng \u0111\u01b0\u1ee3c quy \u0111\u1ecbnh b\u1edfi Lu\u1eadt C\u00f4ng ty Nh\u1eadt B\u1ea3n, nh\u01b0ng ti\u1ec1n \u1ea3o kh\u00f4ng c\u00f3 h\u1ec7 th\u1ed1ng ph\u00e1p l\u00fd nh\u01b0 v\u1eady, n\u00ean c\u00f3 th\u1ec3 t\u1ef1 do thi\u1ebft k\u1ebf ri\u00eang. Tuy nhi\u00ean, &#8220;kh\u00f4ng chuy\u1ec3n quy\u1ec1n ki\u1ec3m so\u00e1t c\u00f4ng ty&#8221; c\u00f3 ngh\u0129a l\u00e0 &#8220;n\u1ebfu kh\u00f4ng th\u1ec3 n\u1eafm quy\u1ec1n ki\u1ec3m so\u00e1t, ICO v\u1eabn \u0111\u00e1ng \u0111\u1ec3 \u0111\u1ea7u t\u01b0&#8221; tr\u1eeb khi c\u00f3 s\u1ef1 \u0111\u00e1nh gi\u00e1 nh\u01b0 v\u1eady, s\u1ebd kh\u00f3 thu h\u00fat \u0111\u1ea7u t\u01b0. Trong qu\u00e1 tr\u00ecnh thi\u1ebft k\u1ebf t\u1ef1 do, c\u1ea7n t\u1ea1o ra &#8220;l\u1ee3i \u00edch&#8221; cho nh\u00e0 \u0111\u1ea7u t\u01b0.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Loi_ich_3_Khong_can_thiet_phai_thuc_hien_theo_don_vi_cong_ty\"><\/span>L\u1ee3i \u00edch 3: Kh\u00f4ng c\u1ea7n thi\u1ebft ph\u1ea3i th\u1ef1c hi\u1ec7n theo \u0111\u01a1n v\u1ecb c\u00f4ng ty<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Kh\u00f4ng nh\u1ea5t thi\u1ebft ph\u1ea3i th\u1ef1c hi\u1ec7n theo \u0111\u01a1n v\u1ecb c\u00f4ng ty, c\u0169ng c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n theo &#8220;\u0111\u01a1n v\u1ecb d\u1ef1 \u00e1n&#8221; ho\u1eb7c &#8220;nhi\u1ec1u c\u00f4ng ty kh\u00f4ng li\u00ean k\u1ebft&#8221; (tuy nhi\u00ean, tr\u00ean th\u1ef1c t\u1ebf, s\u1ed1 l\u01b0\u1ee3ng c\u00e1c tr\u01b0\u1eddng h\u1ee3p th\u1ef1c hi\u1ec7n b\u1edfi c\u00e1c c\u00f4ng ty kh\u00f4ng li\u00ean k\u1ebft kh\u00f4ng nhi\u1ec1u).<br> \u2192 C\u1ed5 phi\u1ebfu t\u01b0\u01a1ng \u1ee9ng m\u1ed9t c\u00e1ch m\u1ed9t-m\u1ed9t v\u1edbi quy\u1ec1n ki\u1ec3m so\u00e1t c\u1ee7a m\u1ed9t c\u00f4ng ty c\u1ee5 th\u1ec3, nh\u01b0ng ti\u1ec1n \u1ea3o kh\u00f4ng c\u00f3 h\u1ec7 th\u1ed1ng ph\u00e1p l\u00fd nh\u01b0 v\u1eady, n\u00ean c\u00f3 th\u1ec3 t\u1ef1 do thi\u1ebft k\u1ebf ri\u00eang.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nhuoc_diem_cua_ICO\"><\/span>Nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a ICO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>M\u1ed9t s\u1ed1 nh\u01b0\u1ee3c \u0111i\u1ec3m c\u00f3 th\u1ec3 k\u1ec3 \u0111\u1ebfn nh\u01b0 sau:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nhuoc_diem_1_Chua_pho_bien\"><\/span>Nh\u01b0\u1ee3c \u0111i\u1ec3m 1: Ch\u01b0a ph\u1ed5 bi\u1ebfn<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>So v\u1edbi nh\u1eefng ng\u01b0\u1eddi \u0111\u1ea7u t\u01b0 v\u00e0o c\u1ed5 phi\u1ebfu, vi\u1ec7c g\u1ecdi v\u1ed1n th\u00f4ng qua ICO v\u1eabn ch\u01b0a ph\u1ed5 bi\u1ebfn v\u00e0 c\u00f3 gi\u1edbi h\u1ea1n v\u1ec1 s\u1ed1 ti\u1ec1n c\u00f3 th\u1ec3 g\u1ecdi \u0111\u01b0\u1ee3c<br> \u2192 Tuy nhi\u00ean, n\u1ebfu xem x\u00e9t l\u1ee3i th\u1ebf l\u00e0 c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n nhanh ch\u00f3ng, vi\u1ec7c t\u1eadp trung v\u00e0o c\u00e1c ho\u1ea1t \u0111\u1ed9ng ti\u1ebfp th\u1ecb (nh\u01b0 s\u1eed d\u1ee5ng web) \u0111\u1ec3 thu h\u00fat s\u1ef1 ch\u00fa \u00fd c\u1ee7a c\u00f4ng ch\u00fang s\u1ebd tr\u1edf n\u00ean quan tr\u1ecdng.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nhuoc_diem_2_Duoc_canh_bao_la_co_the_la_lua_dao\"><\/span>Nh\u01b0\u1ee3c \u0111i\u1ec3m 2: \u0110\u01b0\u1ee3c c\u1ea3nh b\u00e1o l\u00e0 c\u00f3 th\u1ec3 l\u00e0 l\u1eeba \u0111\u1ea3o<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>V\u00ec c\u00f3 nhi\u1ec1u d\u1ef1 \u00e1n g\u1ea7n gi\u1ed1ng v\u1edbi &#8220;l\u1eeba \u0111\u1ea3o&#8221;, n\u00ean vi\u1ec7c g\u1ecdi v\u1ed1n th\u00f4ng qua ICO c\u0169ng b\u1ecb c\u1ea3nh b\u00e1o v\u00e0 c\u00f3 gi\u1edbi h\u1ea1n v\u1ec1 s\u1ed1 ti\u1ec1n c\u00f3 th\u1ec3 g\u1ecdi \u0111\u01b0\u1ee3c<br> \u2192 Vi\u1ec7c b\u1ea5t k\u1ef3 ai c\u0169ng c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n m\u00e0 kh\u00f4ng c\u1ea7n v\u01b0\u1ee3t qua ki\u1ec3m to\u00e1n nghi\u00eam ng\u1eb7t hay th\u1ee7 t\u1ee5c h\u00e0nh ch\u00ednh ph\u1ee9c t\u1ea1p, c\u00f3 th\u1ec3 n\u00f3i l\u00e0 m\u1ed9t l\u1ee3i th\u1ebf cho nh\u1eefng k\u1ebb l\u1eeba \u0111\u1ea3o. \u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0, vi\u1ec7c x\u00e1c \u0111\u1ecbnh li\u1ec7u ng\u01b0\u1eddi th\u1ef1c hi\u1ec7n d\u1ef1 \u00e1n hay ICO c\u00f3 \u0111\u00e1ng tin c\u1eady hay kh\u00f4ng l\u00e0 do quy\u1ebft \u0111\u1ecbnh c\u1ee7a b\u1ea3n th\u00e2n h\u1ecd, do \u0111\u00f3, c\u00f3 th\u1ec3 n\u00f3i r\u1eb1ng ICO mang m\u1ed9t m\u1ee9c \u0111\u1ed9 r\u1ee7i ro nh\u1ea5t \u0111\u1ecbnh \u0111\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nhuoc_diem_3_Chua_co_nhieu_vi_du_trong_qua_khu\"><\/span>Nh\u01b0\u1ee3c \u0111i\u1ec3m 3: Ch\u01b0a c\u00f3 nhi\u1ec1u v\u00ed d\u1ee5 trong qu\u00e1 kh\u1ee9<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>X\u00e9t tr\u00ean to\u00e0n x\u00e3 h\u1ed9i, v\u1eabn c\u00f2n thi\u1ebfu h\u1ee5t v\u1ec1 vi\u1ec7c t\u00edch l\u0169y c\u00e1c v\u00ed d\u1ee5 trong qu\u00e1 kh\u1ee9, v\u00e0 vi\u1ec7c ch\u1ec9 \u0111\u01a1n gi\u1ea3n l\u00e0 b\u1eaft ch\u01b0\u1edbc c\u00e1c v\u00ed d\u1ee5 c\u1ee7a c\u00e1c c\u00f4ng ty kh\u00e1c kh\u00f4ng \u0111\u1ee7 \u0111\u1ec3 thi\u1ebft k\u1ebf m\u1ed9t c\u00e1ch h\u1ee3p ph\u00e1p.<br> \u2192 Tr\u00ean c\u01a1 s\u1edf ki\u1ebfn th\u1ee9c v\u1ec1 c\u00e1c quy \u0111\u1ecbnh li\u00ean quan, vi\u1ec7c ti\u1ebfn h\u00e0nh \u0111\u00e0m ph\u00e1n v\u00e0 y\u00eau c\u1ea7u t\u01b0 v\u1ea5n ri\u00eang v\u1edbi c\u00e1c c\u01a1 quan li\u00ean quan nh\u01b0 C\u1ee5c T\u00e0i ch\u00ednh Nh\u1eadt B\u1ea3n (Japanese Financial Services Agency) v\u1ec1 vi\u1ec7c \u00e1p d\u1ee5ng c\u00e1c quy \u0111\u1ecbnh ph\u00e1p lu\u1eadt tr\u1edf n\u00ean quan tr\u1ecdng.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tom_tat\"><\/span>T\u00f3m t\u1eaft<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>M\u1eb7c d\u00f9 \u0111\u00e3 n\u00f3i \u0111i n\u00f3i l\u1ea1i, nh\u01b0ng \u0111i\u1ec3m h\u1ea5p d\u1eabn l\u1edbn c\u1ee7a ICO l\u00e0 b\u1ea1n kh\u00f4ng c\u1ea7n ph\u1ea3i m\u1ea5t c\u00f4ng v\u1edbi c\u00e1c th\u1ee7 t\u1ee5c ph\u1ee9c t\u1ea1p. Tuy nhi\u00ean, c\u0169ng quan tr\u1ecdng khi kh\u00f4ng hi\u1ec3u l\u1ea7m r\u1eb1ng &#8220;lu\u1eadt ph\u00e1p kh\u00f4ng nghi\u00eam ng\u1eb7t = cho ph\u00e9p k\u1ebb ph\u00e1 lu\u1eadt t\u1ef1 do l\u00e0m nh\u1eefng g\u00ec h\u1ecd mu\u1ed1n&#8221;. Vi\u1ec7c c\u00f3 th\u1ec3 b\u1ecf qua c\u00e1c th\u1ee7 t\u1ee5c ph\u1ee9c t\u1ea1p c\u0169ng c\u00f3 ngh\u0129a l\u00e0 c\u00f3 r\u1ee7i ro v\u00f4 t\u00ecnh vi ph\u1ea1m ph\u00e1p lu\u1eadt. Ngay c\u1ea3 khi th\u1ef1c hi\u1ec7n ICO, c\u0169ng c\u1ea7n nh\u1edb r\u1eb1ng, t\u1eeb m\u1ed9t g\u00f3c \u0111\u1ed9 kh\u00e1c v\u1edbi IPO, v\u1eabn c\u1ea7n c\u00f3 quan \u0111i\u1ec3m ph\u00e1p l\u00fd.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ng\u00e0y nay, khi nh\u1eefng c\u00e2u chuy\u1ec7n v\u1ec1 s\u1ef1 t\u0103ng gi\u00e1 \u0111\u1ed9t bi\u1ebfn ho\u1eb7c s\u1ee5t gi\u1ea3m c\u1ee7a gi\u00e1 Bitcoin v\u00e0 c\u00e1c lo\u1ea1i ti\u1ec1n \u1ea3o kh\u00e1c ng\u00e0y c\u00e0ng tr\u1edf n\u00ean ph\u1ed5 bi\u1ebfn, c\u00f3 th\u1ec3 n\u00f3i r\u1eb1ng ti\u1ec1n \u1ea3o \u0111\u00e3 tr\u1edf th\u00e0nh m\u1ed9t ph\u1ea7n c\u1ee7a vi\u1ec7c qu\u1ea3n l\u00fd [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":72212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[24,28],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59834"}],"collection":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/comments?post=59834"}],"version-history":[{"count":1,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59834\/revisions"}],"predecessor-version":[{"id":60473,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59834\/revisions\/60473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/media\/72212"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/media?parent=59834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/categories?post=59834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/tags?post=59834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}