{"id":63168,"date":"2024-05-02T12:16:30","date_gmt":"2024-05-02T03:16:30","guid":{"rendered":"https:\/\/monolith.law\/zh-cn\/?p=63168"},"modified":"2024-05-19T16:10:18","modified_gmt":"2024-05-19T07:10:18","slug":"defi-dex-regulations","status":"publish","type":"post","link":"https:\/\/monolith.law\/zh-cn\/it\/defi-dex-regulations","title":{"rendered":"DeFi\u7684\u4e09\u5927\u6cd5\u5f8b\u95ee\u9898\u662f\u4ec0\u4e48?\u89e3\u6790\u5173\u4e8eDEX\u4ee3\u5e01\u53d1\u884c\u7684\u6cd5\u89c4"},"content":{"rendered":"\n<p>\u533a\u5757\u94fe\u6280\u672f\u5df2\u88ab\u5e94\u7528\u4e8e\u5404\u79cd\u9886\u57df\u3002\u5728\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\u4e2d\uff0c\u5b9e\u73b0\u4e86\u65e0\u9700\u4e2d\u592e\u94f6\u884c\u4ecb\u5165\u7684\u8d27\u5e01\uff08\u8d44\u4ea7\uff09\uff0c\u5e76\u5df2\u53d1\u884c\u4e86\u4ece\u5546\u4e1a\u5230\u827a\u672f\u7684\u5404\u79cdNFT\u3002\u6b64\u5916\uff0c\u5728\u4f7f\u7528\u533a\u5757\u94fe\u6280\u672f\u7684\u5206\u6563\u5f0f\u91d1\u878d\u4e2d\uff0c\u4e5f\u53ef\u4ee5\u5b9e\u73b0\u65e0\u9700\u7ba1\u7406\u5458\u4ecb\u5165\u7684\u5b8c\u5168P2P\uff08\u70b9\u5bf9\u70b9\uff09\u91d1\u878d\u4ea4\u6613\u3002<\/p>\n\n\n\n<p>\u8fd9\u4e9b\u6240\u8c13\u7684&#8221;Web3&#8243;\u9886\u57df\uff0c\u76ee\u524d\u7684\u60c5\u51b5\u662f\u6cd5\u5f8b\u5236\u5ea6\u8fd8\u672a\u80fd\u8ddf\u4e0a\u3002\u56e0\u6b64\uff0c\u8fdb\u884cWeb3\u9886\u57df\u7684\u4e1a\u52a1\u65f6\uff0c\u9700\u8981\u8c28\u614e\u8003\u8651\u8d44\u91d1\u7ed3\u7b97\u6cd5\u3001\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u7b49\u6cd5\u5f8b\uff0c\u4ee5\u6784\u5efa\u4e1a\u52a1\u6a21\u578b\u3002<\/p>\n\n\n\n<p>\u5728\u8fd9\u91cc\uff0c\u6211\u4eec\u5c06\u89e3\u91ca\u5173\u4e8e\u4f7f\u7528\u533a\u5757\u94fe\u6280\u672f\u7684DeFi\uff08\u5206\u6563\u5f0f\u91d1\u878d\uff09\u548cDEX\uff08\u5206\u6563\u5f0f\u4ea4\u6613\u6240\uff09\u7684\u6cd5\u89c4\u3002<\/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\/zh-cn\/it\/defi-dex-regulations\/#%E4%BB%80%E4%B9%88%E6%98%AFDeFi%EF%BC%88%E5%8E%BB%E4%B8%AD%E5%BF%83%E5%8C%96%E9%87%91%E8%9E%8D%EF%BC%89\" title=\"\u4ec0\u4e48\u662fDeFi\uff08\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\uff09\">\u4ec0\u4e48\u662fDeFi\uff08\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\uff09<\/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\/zh-cn\/it\/defi-dex-regulations\/#DeFi%E4%B8%8EDEX%EF%BC%88%E5%8E%BB%E4%B8%AD%E5%BF%83%E5%8C%96%E4%BA%A4%E6%98%93%E6%89%80%EF%BC%89\" title=\"DeFi\u4e0eDEX\uff08\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\uff09\">DeFi\u4e0eDEX\uff08\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\uff09<\/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\/zh-cn\/it\/defi-dex-regulations\/#DeFi%EF%BC%88%E5%88%86%E6%95%A3%E5%BC%8F%E9%87%91%E8%9E%8D%EF%BC%89%E7%9A%84%E6%B3%95%E5%BE%8B%E9%97%AE%E9%A2%98\" title=\"DeFi\uff08\u5206\u6563\u5f0f\u91d1\u878d\uff09\u7684\u6cd5\u5f8b\u95ee\u9898\">DeFi\uff08\u5206\u6563\u5f0f\u91d1\u878d\uff09\u7684\u6cd5\u5f8b\u95ee\u9898<\/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\/zh-cn\/it\/defi-dex-regulations\/#%E5%85%B3%E4%BA%8ELP%E4%BB%A3%E5%B8%81%E7%9A%84%E6%B3%95%E5%BE%8B%E9%97%AE%E9%A2%98\" title=\"\u5173\u4e8eLP\u4ee3\u5e01\u7684\u6cd5\u5f8b\u95ee\u9898\">\u5173\u4e8eLP\u4ee3\u5e01\u7684\u6cd5\u5f8b\u95ee\u9898<\/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\/zh-cn\/it\/defi-dex-regulations\/#%E5%85%B3%E4%BA%8E%E6%B2%BB%E7%90%86%E4%BB%A3%E5%B8%81%E7%9A%84%E6%B3%95%E5%BE%8B%E9%97%AE%E9%A2%98\" title=\"\u5173\u4e8e\u6cbb\u7406\u4ee3\u5e01\u7684\u6cd5\u5f8b\u95ee\u9898\">\u5173\u4e8e\u6cbb\u7406\u4ee3\u5e01\u7684\u6cd5\u5f8b\u95ee\u9898<\/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\/zh-cn\/it\/defi-dex-regulations\/#%E5%85%B3%E4%BA%8E%E5%8A%A0%E5%AF%86%E8%B5%84%E4%BA%A7%EF%BC%88%E8%99%9A%E6%8B%9F%E8%B4%A7%E5%B8%81%EF%BC%89%E4%BA%A4%E6%98%93%E7%9A%84%E6%B3%95%E5%BE%8B%E9%97%AE%E9%A2%98\" title=\"\u5173\u4e8e\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\u4ea4\u6613\u7684\u6cd5\u5f8b\u95ee\u9898\">\u5173\u4e8e\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\u4ea4\u6613\u7684\u6cd5\u5f8b\u95ee\u9898<\/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\/zh-cn\/it\/defi-dex-regulations\/#%E6%80%BB%E7%BB%93%EF%BC%9A%E5%85%B3%E4%BA%8E%E5%88%86%E6%95%A3%E5%BC%8F%E9%87%91%E8%9E%8D%EF%BC%88DeFi%EF%BC%89%EF%BC%8C%E8%AF%B7%E5%92%A8%E8%AF%A2%E5%BE%8B%E5%B8%88\" title=\"\u603b\u7ed3\uff1a\u5173\u4e8e\u5206\u6563\u5f0f\u91d1\u878d\uff08DeFi\uff09\uff0c\u8bf7\u54a8\u8be2\u5f8b\u5e08\">\u603b\u7ed3\uff1a\u5173\u4e8e\u5206\u6563\u5f0f\u91d1\u878d\uff08DeFi\uff09\uff0c\u8bf7\u54a8\u8be2\u5f8b\u5e08<\/a><\/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\/zh-cn\/it\/defi-dex-regulations\/#%E6%88%91%E5%80%91%E4%BA%8B%E5%8B%99%E6%89%80%E7%9A%84%E5%B0%8D%E7%AD%96%E4%BB%8B%E7%B4%B9\" title=\"\u6211\u5011\u4e8b\u52d9\u6240\u7684\u5c0d\u7b56\u4ecb\u7d39\">\u6211\u5011\u4e8b\u52d9\u6240\u7684\u5c0d\u7b56\u4ecb\u7d39<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%BB%80%E4%B9%88%E6%98%AFDeFi%EF%BC%88%E5%8E%BB%E4%B8%AD%E5%BF%83%E5%8C%96%E9%87%91%E8%9E%8D%EF%BC%89\"><\/span>\u4ec0\u4e48\u662fDeFi\uff08\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\uff09<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>DeFi\u662fDecentralized Finance\u7684\u9996\u5b57\u6bcd\u7f29\u5199\uff0c\u6307\u7684\u662f\u5229\u7528\u516c\u5171\u533a\u5757\u94fe\u6280\u672f\u7684\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u7cfb\u7edf\u3002\u5728DeFi\u4e2d\uff0c\u65e0\u9700\u4f9d\u8d56\u4e2d\u592e\u94f6\u884c\u6216\u91d1\u878d\u673a\u6784\uff0c\u53ef\u4ee5\u901a\u8fc7\u533a\u5757\u94fe\u6280\u672f\u5982\u667a\u80fd\u5408\u7ea6\u7b49\u8fdb\u884cP2P\u7684\u81ea\u4e3b\u91d1\u878d\u4ea4\u6613\u3002<\/p>\n\n\n\n<p>\u5bf9\u4e8e\u201c\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u201d\u8fd9\u4e2a\u8bcd\uff0c\u6211\u4eec\u6709\u65f6\u4f1a\u5c06\u4f20\u7edf\u7684\u91d1\u878d\u673a\u6784\u79f0\u4e3a\u201c\u4e2d\u5fc3\u5316\u91d1\u878d\u201d\u3002\u4e2d\u5fc3\u5316\u91d1\u878d\u662fCentralized Finance\u7684\u9996\u5b57\u6bcd\u7f29\u5199\uff0c\u4e5f\u88ab\u79f0\u4e3aCeFi\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u4e2d\u592e\u94f6\u884c\u8d1f\u8d23\u8d27\u5e01\u7684\u53d1\u884c\u548c\u7ba1\u7406\uff0c\u91d1\u878d\u673a\u6784\u8d1f\u8d23\u4ea4\u6613\u7684\u7ba1\u7406\uff0c\u8fd9\u79cd\u91d1\u878d\u673a\u5236\u5c31\u662f\u6240\u8c13\u7684\u4e2d\u5fc3\u5316\u91d1\u878d\u3002<\/p>\n\n\n\n<p>\u53c2\u8003\uff1a<a href=\"https:\/\/www.fsa.go.jp\/policy\/bgin\/information.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u65e5\u672c\u91d1\u878d\u5385\uff5c\u5173\u4e8e\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u7684\u63aa\u65bd[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"DeFi%E4%B8%8EDEX%EF%BC%88%E5%8E%BB%E4%B8%AD%E5%BF%83%E5%8C%96%E4%BA%A4%E6%98%93%E6%89%80%EF%BC%89\"><\/span>DeFi\u4e0eDEX\uff08\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\uff09<span 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.jp\/wp-content\/uploads\/2023\/01\/shutterstock_2179252753.jpg\" alt=\"DeFi\u7684\u79cd\u7c7b\" class=\"wp-image-57252\" \/><\/figure>\n\n\n\n<p>DeFi\u6709\u51e0\u79cd\u7c7b\u578b\u3002<\/p>\n\n\n\n<ul>\n<li>DEX<\/li>\n\n\n\n<li>\u501f\u8d37<\/li>\n\n\n\n<li>\u4fdd\u9669<\/li>\n\n\n\n<li>\u884d\u751f\u54c1\u9879\u76ee<\/li>\n<\/ul>\n\n\n\n<p>\u5176\u4e2d\uff0cDEX\u5728DeFi\u7684\u79cd\u7c7b\u4e2d\u5c55\u73b0\u51fa\u4e86\u6269\u5c55\u6027\u3002<\/p>\n\n\n\n<p>DEX\u662fDecentralized Exchange\u7684\u9996\u5b57\u6bcd\u7f29\u5199\uff0c\u6307\u7684\u662f\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u3002\u5728DEX\u4e2d\uff0c\u901a\u8fc7\u533a\u5757\u94fe\u6280\u672f\u548c\u667a\u80fd\u5408\u7ea6\uff0c\u53ef\u4ee5\u8fdb\u884c\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\u548c\u4ee3\u5e01\u7684\u4ea4\u6613\u3002\u667a\u80fd\u5408\u7ea6\u662f\u4e00\u79cd\u5728\u7279\u5b9a\u6761\u4ef6\u6ee1\u8db3\u65f6\uff0c\u81ea\u52a8\u6267\u884c\u9884\u5b9a\u64cd\u4f5c\u7684\u673a\u5236\u3002<\/p>\n\n\n\n<p>\u53e6\u4e00\u65b9\u9762\uff0c\u4e0eDEX\u4e0d\u540c\uff0c\u7531\u7ba1\u7406\u5458\u7ba1\u7406\u7684\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u88ab\u79f0\u4e3aCentralized Exchange\uff0c\u7b80\u79f0CEX\u3002CEX\u662f\u4e00\u79cd\u957f\u671f\u4ee5\u6765\u5e7f\u6cdb\u8fd0\u8425\u7684\u673a\u5236\uff0c\u76ee\u524d\uff0c\u5b83\u6bd4DEX\u66f4\u4e3a\u666e\u53ca\u3002<\/p>\n\n\n\n<p>\u5728DEX\u4e2d\uff0c\u901a\u8fc7\u667a\u80fd\u5408\u7ea6\uff0c\u53ef\u4ee5\u81ea\u52a8\u8fdb\u884c\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\u548c\u4ee3\u5e01\u7684\u4ea4\u6613\u3002DEX\u7684\u4f18\u70b9\u662f\u53ef\u4ee5\u5feb\u901f\u8fdb\u884c\u4ea4\u6613\u3002<\/p>\n\n\n\n<p>\u6b64\u5916\uff0c\u7531\u4e8e\u4f7f\u7528\u4e86\u667a\u80fd\u5408\u7ea6\uff0c\u4e0e\u5b58\u5728\u7ba1\u7406\u5458\u7684CEX\u76f8\u6bd4\uff0c\u53ef\u4ee5\u964d\u4f4e\u4ea4\u6613\u8d39\u7528\u7b49\uff0c\u4ece\u800c\u964d\u4f4e\u6210\u672c\uff0c\u8fd9\u4e5f\u662fDEX\u7684\u4f18\u70b9\u3002<\/p>\n\n\n\n<p>\u76f8\u5173\u6587\u7ae0\uff1a<a href=\"https:\/\/monolith-law.jp\/corporate\/nft-smartcontract\" target=\"_blank\" rel=\"noreferrer noopener\">NFT\u4ea4\u6613\u4e2d\u4e0d\u53ef\u6216\u7f3a\u7684\u667a\u80fd\u5408\u7ea6\u662f\u4ec0\u4e48\uff1f\u89e3\u67904\u4e2a\u7279\u70b9\u548c\u7f3a\u70b9[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"DeFi%EF%BC%88%E5%88%86%E6%95%A3%E5%BC%8F%E9%87%91%E8%9E%8D%EF%BC%89%E7%9A%84%E6%B3%95%E5%BE%8B%E9%97%AE%E9%A2%98\"><\/span>DeFi\uff08\u5206\u6563\u5f0f\u91d1\u878d\uff09\u7684\u6cd5\u5f8b\u95ee\u9898<span 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.jp\/wp-content\/uploads\/2023\/01\/shutterstock_2097018502.jpg\" alt=\"DeFi\u7684\u6cd5\u5f8b\u95ee\u9898\" class=\"wp-image-57250\" \/><\/figure>\n\n\n\n<p>\u7531\u4e8eDeFi\u662f\u4e00\u4e2a\u76f8\u5bf9\u8f83\u65b0\u7684\u6982\u5ff5\uff0c\u56e0\u6b64\u5b58\u5728\u7740\u5404\u79cd\u6cd5\u5f8b\u95ee\u9898\u3002\u5728\u4e0b\u6587\u4e2d\uff0c\u6211\u4eec\u5c06\u4ee5DEX\u4e3a\u4f8b\uff0c\u6765\u89e3\u91caDeFi\u7684\u6cd5\u5f8b\u95ee\u9898\u3002<\/p>\n\n\n\n<p>DeFi\u7684\u6cd5\u5f8b\u95ee\u9898\u53ef\u4ee5\u5206\u4e3a\u4ee5\u4e0b\u51e0\u7c7b\uff1a<\/p>\n\n\n\n<ul>\n<li>\u5173\u4e8eLP\u4ee3\u5e01\u7684\u6cd5\u5f8b\u95ee\u9898<\/li>\n\n\n\n<li>\u5173\u4e8e\u6cbb\u7406\u4ee3\u5e01\u7684\u6cd5\u5f8b\u95ee\u9898<\/li>\n\n\n\n<li>\u5173\u4e8e\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\u4ea4\u6613\u7684\u6cd5\u5f8b\u95ee\u9898<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%85%B3%E4%BA%8ELP%E4%BB%A3%E5%B8%81%E7%9A%84%E6%B3%95%E5%BE%8B%E9%97%AE%E9%A2%98\"><\/span>\u5173\u4e8eLP\u4ee3\u5e01\u7684\u6cd5\u5f8b\u95ee\u9898<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>LP\u4ee3\u5e01\u662f\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\uff08Liquidity Provider\uff09\u4ee3\u5e01\u7684\u7b80\u79f0\u3002\u8fd9\u662f\u4e00\u79cd\u5206\u914d\u7ed9\u5bf9DEX\u673a\u5236\u505a\u51fa\u8d21\u732e\u7684\u7528\u6237\u7684\u67d0\u79cd\u4ef7\u503c\u7684\u4ee3\u5e01\u3002\u5bf9\u4e8e\u8fd9\u79cdLP\u4ee3\u5e01\uff0c\u6211\u4eec\u9700\u8981\u8003\u8651\u5176\u4e0e\u65e5\u672c\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u4e2d\u89c4\u5b9a\u7684\u201c\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\u201d\u548c\u201c\u7535\u5b50\u8bb0\u5f55\u8f6c\u79fb\u6743\u5229\u201d\u7684\u5173\u7cfb\u3002<\/p>\n\n\n\n<p>\u5982\u65e5\u672c\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u7b2c2\u6761\u7b2c2\u6b3e\u7b2c5\u53f7\u6240\u89c4\u5b9a\u7684\uff0c\u5982\u679c\u7b26\u5408\u4ee5\u4e0b\u6761\u4ef6\uff0c\u5c06\u88ab\u8bc4\u4f30\u4e3a\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\uff1a<\/p>\n\n\n\n<ul>\n<li>\u6743\u5229\u6240\u6709\u8005\u6295\u5165\u6216\u8d21\u732e\u91d1\u94b1\u7b49<\/li>\n\n\n\n<li>\u7528\u8d21\u732e\u7684\u91d1\u94b1\u7b49\u8fdb\u884c\u4e1a\u52a1\uff08\u6295\u8d44\u76ee\u6807\u4e1a\u52a1\uff09<\/li>\n\n\n\n<li>\u6743\u5229\u6240\u6709\u8005\u6709\u6743\u63a5\u6536\u6765\u81ea\u6295\u8d44\u76ee\u6807\u4e1a\u52a1\u7684\u6536\u76ca\u5206\u914d\u6216\u4e0e\u8be5\u6295\u8d44\u76ee\u6807\u4e1a\u52a1\u76f8\u5173\u7684\u8d22\u4ea7\u5206\u914d<\/li>\n<\/ul>\n\n\n\n<p>\u5bf9\u4e8e\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\uff0c\u901a\u5e38\u9884\u671f\u7684\u662f\u57fa\u91d1\u7684\u4efd\u989d\uff0c\u4f46LP\u4ee3\u5e01\u4e5f\u53ef\u80fd\u88ab\u8bc4\u4f30\u4e3a\u7b26\u5408\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u3002\u5982\u679c\u88ab\u8bc4\u4f30\u4e3a\u7b26\u5408\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\uff0c\u5c06\u53d7\u5230\u65e5\u672c\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u7684\u89c4\u5236\u3002<\/p>\n\n\n\n<p>\u53e6\u5916\uff0c\u7535\u5b50\u8bb0\u5f55\u8f6c\u79fb\u6743\u5229\u662f\u6307\u5bf9\u6301\u6709\u8005\u8fdb\u884c\u4e1a\u52a1\u6536\u76ca\u5206\u914d\u7684\u8bbe\u8ba1\u4e2d\uff0c\u201c\u53ef\u4ee5\u4f7f\u7528\u7535\u5b50\u4fe1\u606f\u5904\u7406\u7ec4\u7ec7\u8fdb\u884c\u8f6c\u79fb\u7684\u8d22\u4ea7\u4ef7\u503c\u201d\u3002\u5982\u679cLP\u4ee3\u5e01\u7b26\u5408\u7535\u5b50\u8bb0\u5f55\u8f6c\u79fb\u6743\u5229\uff0c\u90a3\u4e48\u53d1\u884cLP\u4ee3\u5e01\u9700\u8981\u9075\u5b88\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u4e1a\u7684\u6ce8\u518c\u3001\u62ab\u9732\u4e49\u52a1\u7b49\u6cd5\u89c4\u3002<\/p>\n\n\n\n<p>\u56e0\u6b64\uff0c\u5728\u53d1\u884cLP\u4ee3\u5e01\u65f6\uff0c\u8003\u8651LP\u4ee3\u5e01\u6240\u5e26\u6765\u7684\u4ef7\u503c\u4e0e\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\u548c\u7535\u5b50\u8bb0\u5f55\u8f6c\u79fb\u6743\u5229\u662f\u5426\u7b26\u5408\u7684\u5173\u7cfb\u662f\u975e\u5e38\u91cd\u8981\u7684\u3002<\/p>\n\n\n\n<p>\u5173\u4e8e\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\u548c\u7535\u5b50\u8bb0\u5f55\u8f6c\u79fb\u6743\u5229\u7684\u8be6\u7ec6\u89e3\u91ca\uff0c\u8bf7\u53c2\u8003\u4ee5\u4e0b\u6587\u7ae0\u3002<\/p>\n\n\n\n<p>\u76f8\u5173\u6587\u7ae0\uff1a<a href=\"https:\/\/monolith-law.jp\/corporate\/cryptoassets-regulation\" target=\"_blank\" rel=\"noreferrer noopener\">\u5173\u4e8e\u52a0\u5bc6\u8d44\u4ea7\u7684\u89c4\u5b9a\u662f\u4ec0\u4e48\uff1f\u89e3\u91ca\u8d44\u91d1\u7ed3\u7b97\u6cd5\u548c\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u7684\u5173\u7cfb[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%85%B3%E4%BA%8E%E6%B2%BB%E7%90%86%E4%BB%A3%E5%B8%81%E7%9A%84%E6%B3%95%E5%BE%8B%E9%97%AE%E9%A2%98\"><\/span>\u5173\u4e8e\u6cbb\u7406\u4ee3\u5e01\u7684\u6cd5\u5f8b\u95ee\u9898<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u7b80\u5355\u6765\u8bf4\uff0c\u6cbb\u7406\u4ee3\u5e01\u662f\u6307\u6301\u6709\u8005\u53ef\u4ee5\u53c2\u4e0eDEX\u5206\u5e03\u5f0f\u534f\u8bae\u8fd0\u8425\u7684\u4ee3\u5e01\u3002\u901a\u8fc7\u6301\u6709\u6cbb\u7406\u4ee3\u5e01\uff0c\u53ef\u4ee5\u5f71\u54cd\u6cbb\u7406\u7cfb\u7edf\u672c\u8eab\u7684\u53d8\u66f4\u7b49\u3002<\/p>\n\n\n\n<p>\u8fd9\u79cd\u6cbb\u7406\u4ee3\u5e01\u5728\u8bb8\u591a\u60c5\u51b5\u4e0b\u53ef\u4ee5\u4e0e\u5176\u4ed6\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\u8fdb\u884c\u4ea4\u6362\uff0c\u8fd9\u6837\u7684\u60c5\u51b5\u4e0b\uff0c\u6cbb\u7406\u4ee3\u5e01\u53ef\u80fd\u7b26\u5408\u201c\u52a0\u5bc6\u8d44\u4ea7\u201d\uff08\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7b2c2\u6761\u7b2c5\u6b3e\uff09\u7684\u5b9a\u4e49\uff0c\u6cbb\u7406\u4ee3\u5e01\u7684\u53d1\u884c\u53ef\u80fd\u7b26\u5408\u201c\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362\u4e1a\u52a1\u201d\uff08\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7b2c2\u6761\u7b2c7\u6b3e\uff09\u7684\u5b9a\u4e49\u3002<\/p>\n\n\n\n<p>\u5173\u4e8e\u6cbb\u7406\u4ee3\u5e01\u7684\u53d1\u884c\uff0c\u6839\u636e\u662f\u5426\u5bf9\u83b7\u53d6\u6cbb\u7406\u4ee3\u5e01\u4ea7\u751f\u5bf9\u4ef7\uff0c\u53ef\u80fd\u4f1a\u6539\u53d8\u5176\u662f\u5426\u88ab\u8bc4\u4f30\u4e3a\u201c\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362\u4e1a\u52a1\u201d\uff08\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7b2c2\u6761\u7b2c7\u6b3e\uff09\u3002<\/p>\n\n\n\n<p>\u56e0\u6b64\uff0c\u5728\u53d1\u884c\u6cbb\u7406\u4ee3\u5e01\u65f6\uff0c\u8003\u8651\u5176\u83b7\u53d6\u7684\u5bf9\u4ef7\u4e0e\u5426\u4ee5\u53ca\u662f\u5426\u7b26\u5408\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362\u4e1a\u52a1\u7684\u5b9a\u4e49\u662f\u975e\u5e38\u91cd\u8981\u7684\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%85%B3%E4%BA%8E%E5%8A%A0%E5%AF%86%E8%B5%84%E4%BA%A7%EF%BC%88%E8%99%9A%E6%8B%9F%E8%B4%A7%E5%B8%81%EF%BC%89%E4%BA%A4%E6%98%93%E7%9A%84%E6%B3%95%E5%BE%8B%E9%97%AE%E9%A2%98\"><\/span>\u5173\u4e8e\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\u4ea4\u6613\u7684\u6cd5\u5f8b\u95ee\u9898<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/monolith-law.jp\/wp-content\/uploads\/2023\/01\/shutterstock_158369042.jpg\" alt=\"\u5173\u4e8e\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\u4ea4\u6613\u7684\u6cd5\u5f8b\u95ee\u9898\" class=\"wp-image-57247\" \/><\/figure>\n\n\n\n<p>\u5728DEX\u4e2d\uff0c\u6709\u4e00\u4e9b\u6848\u4f8b\u91c7\u7528\u4e86\u901a\u8fc7\u52a0\u5bc6\u8d44\u4ea7\u7684\u4ea4\u6362\u6765\u83b7\u53d6\u52a0\u5bc6\u8d44\u4ea7\u7684\u673a\u5236\u3002\u5728\u91c7\u7528\u8fd9\u79cd\u673a\u5236\u7684\u60c5\u51b5\u4e0b\uff0c\u53ef\u80fd\u4f1a\u88ab\u8bc4\u4f30\u4e3a\u7b26\u5408\u201c\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362\u4e1a\u52a1\u201d\uff08\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7b2c2\u6761\u7b2c7\u6b3e\uff09\u7684\u5b9a\u4e49\u3002<\/p>\n\n\n\n<p>\u7136\u800c\uff0c\u6b63\u5982\u524d\u8ff0\uff0cDEX\u901a\u5e38\u91c7\u7528\u667a\u80fd\u5408\u7ea6\u7684\u673a\u5236\u3002<\/p>\n\n\n\n<p>\u5982\u679c\u901a\u8fc7\u667a\u80fd\u5408\u7ea6\u81ea\u52a8\u8fdb\u884c\u52a0\u5bc6\u8d44\u4ea7\u7684\u4ea4\u6362\uff0c\u90a3\u4e48\u5728DEX\u4e2d\uff0c\u7531\u4e8e\u4e0d\u5b58\u5728\u8fdb\u884c\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362\u4e1a\u52a1\u7684\u4e3b\u4f53\uff0c\u56e0\u6b64\uff0c\u9996\u5148\uff0cDEX\u4e0d\u5b58\u5728\u6210\u4e3a\u76d1\u7ba1\u5bf9\u8c61\u7684\u4e3b\u4f53\uff0c\u53ef\u80fd\u88ab\u8ba4\u4e3a\u4e0d\u4f1a\u6210\u4e3a\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7684\u76d1\u7ba1\u5bf9\u8c61\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%80%BB%E7%BB%93%EF%BC%9A%E5%85%B3%E4%BA%8E%E5%88%86%E6%95%A3%E5%BC%8F%E9%87%91%E8%9E%8D%EF%BC%88DeFi%EF%BC%89%EF%BC%8C%E8%AF%B7%E5%92%A8%E8%AF%A2%E5%BE%8B%E5%B8%88\"><\/span>\u603b\u7ed3\uff1a\u5173\u4e8e\u5206\u6563\u5f0f\u91d1\u878d\uff08DeFi\uff09\uff0c\u8bf7\u54a8\u8be2\u5f8b\u5e08<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u5728\u8fd9\u91cc\uff0c\u6211\u4eec\u89e3\u91ca\u4e86\u5229\u7528\u533a\u5757\u94fe\u6280\u672f\u7684DeFi\u7684\u6cd5\u89c4\u3002\u5173\u4e8eDeFi\uff0c\u7531\u4e8e\u53d1\u884c\u7684\u4ee3\u5e01\u7684\u6027\u8d28\u4e0d\u540c\uff0c\u6240\u4ee5\u89c4\u5b9a\u7684\u5185\u5bb9\u4e5f\u4f1a\u6709\u6240\u4e0d\u540c\uff0c\u56e0\u6b64\u9664\u4e86\u6cd5\u5f8b\u77e5\u8bc6\u5916\uff0c\u8fd8\u9700\u8981\u5bf9\u533a\u5757\u94fe\u548c\u667a\u80fd\u5408\u7ea6\u6709\u6240\u4e86\u89e3\u3002\u6b64\u5916\uff0c\u8fd9\u4e2a\u9886\u57df\u7684\u6cd5\u5f8b\u5236\u5ea6\u6b63\u5728\u9010\u6b65\u5b8c\u5584\uff0c\u6cd5\u5f8b\u4fee\u8ba2\u4e5f\u5728\u9891\u7e41\u8fdb\u884c\u3002<\/p>\n\n\n\n<p>\u6211\u4eec\u5efa\u8bae\u60a8\u54a8\u8be2\u5177\u6709\u8fd9\u4e9b\u9886\u57df\u77e5\u8bc6\u548c\u7ecf\u9a8c\u7684\u5f8b\u5e08\uff0c\u4ee5\u4e86\u89e3\u5229\u7528\u533a\u5757\u94fe\u6280\u672f\u7684\u5206\u6563\u5f0f\u91d1\u878d\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%88%91%E5%80%91%E4%BA%8B%E5%8B%99%E6%89%80%E7%9A%84%E5%B0%8D%E7%AD%96%E4%BB%8B%E7%B4%B9\"><\/span>\u6211\u5011\u4e8b\u52d9\u6240\u7684\u5c0d\u7b56\u4ecb\u7d39<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Monolith\u6cd5\u5f8b\u4e8b\u52d9\u6240\u662f\u4e00\u5bb6\u5728IT\uff0c\u7279\u5225\u662f\u4e92\u806f\u7db2\u548c\u6cd5\u5f8b\u5169\u65b9\u9762\u90fd\u5177\u6709\u9ad8\u5ea6\u5c08\u696d\u6027\u7684\u6cd5\u5f8b\u4e8b\u52d9\u6240\u3002\u6211\u5011\u4e8b\u52d9\u6240\u63d0\u4f9b\u5168\u9762\u7684\u52a0\u5bc6\u8cc7\u7522\u548c\u5340\u584a\u93c8\u696d\u52d9\u652f\u6301\u3002\u8a73\u7d30\u5167\u5bb9\u5df2\u5728\u4e0b\u6587\u4e2d\u8aaa\u660e\u3002<\/p>\n\n\n\n<p>Monolith\u6cd5\u5f8b\u4e8b\u52d9\u6240\u7684\u696d\u52d9\u7bc4\u7587\uff1a<a href=\"https:\/\/monolith-law.jp\/blockchain\" target=\"_blank\" rel=\"noreferrer 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