{"id":65178,"date":"2024-05-10T18:42:26","date_gmt":"2024-05-10T09:42:26","guid":{"rendered":"https:\/\/monolith.law\/zh-cn\/?p=65178"},"modified":"2025-12-18T10:16:13","modified_gmt":"2025-12-18T01:16:13","slug":"ico-regulation","status":"publish","type":"post","link":"https:\/\/monolith.law\/zh-cn\/it\/ico-regulation","title":{"rendered":"\u5173\u4e8eICO\u7684\u6cd5\u5f8b\u89c4\u5236\u53ca\u5176\u5408\u6cd5\u5b9e\u65bd\u65b9\u6cd5"},"content":{"rendered":"\n<p>ICO\uff0c\u5373Initial Coin Offering\uff08\u9996\u6b21\u4ee3\u5e01\u53d1\u884c\uff09\u7684\u7f29\u5199\uff0c\u901a\u5e38\u6307\u7684\u662f\u4f01\u4e1a\u4ece\u516c\u4f17\u5904\u7b79\u96c6\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\uff0c\u5e76\u4f5c\u4e3a\u5bf9\u4ef7\u65b0\u53d1\u884c\u7535\u5b50\u4ee3\u5e01\u7684\u884c\u4e3a\u3002<\/p>\n\n\n\n<p>ICO\u57282017\u5e745\u6708\u5de6\u53f3\uff0c\u968f\u7740\u52a0\u5bc6\u8d44\u4ea7\u4ef7\u683c\u7684\u98d9\u5347\uff0c\u4f5c\u4e3a\u7b79\u8d44\u624b\u6bb5\u5448\u7206\u70b8\u6027\u589e\u957f\u3002\u5f53\u65f6\u7531\u4e8e\u7f3a\u4e4f\u660e\u786e\u7684ICO\u76d1\u7ba1\u6cd5\u5f8b\uff0c\u4e0e\u901a\u8fc7\u9996\u6b21\u516c\u5f00\u52df\u80a1\uff08IPO\uff09\u7b79\u96c6\u8d44\u91d1\u76f8\u6bd4\uff0cICO\u80fd\u591f\u66f4\u4e3a\u7b80\u4fbf\u548c\u8fc5\u901f\u5730\u7b79\u96c6\u5230\u5de8\u989d\u8d44\u91d1\uff0c\u5728\u65e5\u672c\u4e5f\u56e0\u6b64\u53d7\u5230\u4e86\u5e7f\u6cdb\u5173\u6ce8\u3002<\/p>\n\n\n\n<p>\u7136\u800c\uff0c\u7531\u4e8e\u4e5f\u51fa\u73b0\u4e86\u4e00\u4e9b\u6b3a\u8bc8\u6027\u6848\u4ef6\uff0c\u4ee5\u4e2d\u56fd\u4e3a\u9996\u7684\u4e16\u754c\u5404\u56fd\u5f00\u59cb\u52a0\u5f3a\u5bf9ICO\u7684\u76d1\u7ba1\u3002\u5728\u65e5\u672c\uff0c\u968f\u7740\u4ee4\u548c\u5143\u5e74\uff082019\u5e74\uff09\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u7684\u4fee\u6b63\uff0c\u5bf9ICO\u7684\u76d1\u7ba1\u4e5f\u5f97\u5230\u4e86\u660e\u786e\u3002<\/p>\n\n\n\n<p>\u90a3\u4e48\uff0c\u5728ICO\u6cd5\u89c4\u660e\u786e\u5316\u7684\u4eca\u5929\uff0c\u5982\u4f55\u8fdb\u884cICO\u5462\uff1f\u672c\u6587\u5c06\u6982\u8ff0ICO\u7684\u6cd5\u5f8b\u76d1\u7ba1\uff0c\u5e76\u89e3\u91ca\u5982\u4f55\u5408\u6cd5\u5730\u8fdb\u884cICO\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\/ico-regulation\/#%E4%BB%80%E4%B9%88%E6%98%AFICO\" title=\"\u4ec0\u4e48\u662fICO\">\u4ec0\u4e48\u662fICO<\/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\/zh-cn\/it\/ico-regulation\/#ICO%E4%BB%A3%E5%B8%81%E7%9A%84%E5%88%86%E7%B1%BB\" title=\"ICO\u4ee3\u5e01\u7684\u5206\u7c7b\">ICO\u4ee3\u5e01\u7684\u5206\u7c7b<\/a><\/li><\/ul><\/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\/ico-regulation\/#ICO%E6%B3%95%E8%A7%84%E7%9A%84%E5%85%A8%E8%B2%8C\" title=\"ICO\u6cd5\u89c4\u7684\u5168\u8c8c\">ICO\u6cd5\u89c4\u7684\u5168\u8c8c<\/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\/ico-regulation\/#ICO%E4%B8%8E%E3%80%8A%E6%97%A5%E6%9C%AC%E9%87%91%E8%9E%8D%E5%95%86%E5%93%81%E5%8F%96%E5%BC%95%E6%B3%95%E3%80%8B\" title=\"ICO\u4e0e\u300a\u65e5\u672c\u91d1\u878d\u5546\u54c1\u53d6\u5f15\u6cd5\u300b\">ICO\u4e0e\u300a\u65e5\u672c\u91d1\u878d\u5546\u54c1\u53d6\u5f15\u6cd5\u300b<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/zh-cn\/it\/ico-regulation\/#%E7%AC%A6%E5%90%88%E9%9B%86%E5%9B%A2%E6%8A%95%E8%B5%84%E8%AE%A1%E5%88%92%E4%BB%BD%E9%A2%9D%E7%9A%84%E6%83%85%E5%86%B5\" title=\"\u7b26\u5408\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\u7684\u60c5\u51b5\">\u7b26\u5408\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\u7684\u60c5\u51b5<\/a><\/li><\/ul><\/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\/ico-regulation\/#ICO%E4%B8%8E%E3%80%8A%E6%97%A5%E6%9C%AC%E8%B5%84%E9%87%91%E7%BB%93%E7%AE%97%E6%B3%95%E3%80%8B\" title=\"ICO\u4e0e\u300a\u65e5\u672c\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\">ICO\u4e0e\u300a\u65e5\u672c\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/zh-cn\/it\/ico-regulation\/#%E5%A6%82%E6%9E%9C%E5%B1%9E%E4%BA%8E%E3%80%8C%E5%8A%A0%E5%AF%86%E8%B5%84%E4%BA%A7%E3%80%8D\" title=\"\u5982\u679c\u5c5e\u4e8e\u300c\u52a0\u5bc6\u8d44\u4ea7\u300d\">\u5982\u679c\u5c5e\u4e8e\u300c\u52a0\u5bc6\u8d44\u4ea7\u300d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/zh-cn\/it\/ico-regulation\/#%E8%8B%A5%E5%B1%9E%E4%BA%8E%E3%80%8C%E9%A2%84%E4%BB%98%E5%BC%8F%E6%94%AF%E4%BB%98%E6%89%8B%E6%AE%B5%E3%80%8D\" title=\"\u82e5\u5c5e\u4e8e\u300c\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\u300d\">\u82e5\u5c5e\u4e8e\u300c\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\u300d<\/a><\/li><\/ul><\/li><\/ul><\/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\/zh-cn\/it\/ico-regulation\/#%E9%9D%9E%E6%B3%95ICO%E7%9A%84%E5%A4%84%E7%BD%9A%E8%A7%84%E5%AE%9A\" title=\"\u975e\u6cd5ICO\u7684\u5904\u7f5a\u89c4\u5b9a\">\u975e\u6cd5ICO\u7684\u5904\u7f5a\u89c4\u5b9a<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/zh-cn\/it\/ico-regulation\/#%E5%90%88%E6%B3%95%E8%BF%9B%E8%A1%8CICO%E7%9A%84%E6%96%B9%E6%B3%95\" title=\"\u5408\u6cd5\u8fdb\u884cICO\u7684\u65b9\u6cd5\">\u5408\u6cd5\u8fdb\u884cICO\u7684\u65b9\u6cd5<\/a><\/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\/zh-cn\/it\/ico-regulation\/#%E6%80%BB%E7%BB%93%EF%BC%9A%E8%BF%9B%E8%A1%8CICO%E6%97%B6%E8%AF%B7%E5%92%A8%E8%AF%A2%E5%BE%8B%E5%B8%88\" title=\"\u603b\u7ed3\uff1a\u8fdb\u884cICO\u65f6\u8bf7\u54a8\u8be2\u5f8b\u5e08\">\u603b\u7ed3\uff1a\u8fdb\u884cICO\u65f6\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-12\" href=\"https:\/\/monolith.law\/zh-cn\/it\/ico-regulation\/#%E6%88%91%E6%89%80%E9%87%87%E5%8F%96%E7%9A%84%E5%AF%B9%E7%AD%96%E6%8C%87%E5%8D%97\" title=\"\u6211\u6240\u91c7\u53d6\u7684\u5bf9\u7b56\u6307\u5357\">\u6211\u6240\u91c7\u53d6\u7684\u5bf9\u7b56\u6307\u5357<\/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%AFICO\"><\/span>\u4ec0\u4e48\u662fICO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img decoding=\"async\" loading=\"lazy\" width=\"735\" height=\"490\" src=\"https:\/\/monolith.law\/zh-cn\/wp-content\/uploads\/sites\/44\/2025\/12\/ico-regulation-2.jpg\" alt=\"\" class=\"wp-image-69031\" style=\"aspect-ratio:1.5;width:840px;height:auto\" srcset=\"https:\/\/monolith.law\/zh-cn\/wp-content\/uploads\/sites\/44\/2025\/12\/ico-regulation-2.jpg 735w, https:\/\/monolith.law\/zh-cn\/wp-content\/uploads\/sites\/44\/2025\/12\/ico-regulation-2-300x200.jpg 300w, https:\/\/monolith.law\/zh-cn\/wp-content\/uploads\/sites\/44\/2025\/12\/ico-regulation-2-250x167.jpg 250w\" sizes=\"(max-width: 735px) 100vw, 735px\" \/><\/figure>\n\n\n\n<p>ICO\uff0c\u5982\u524d\u6240\u8ff0\uff0c\u662f\u4f01\u4e1a\u4e3a\u4e86\u4ece\u516c\u4f17\u7b79\u96c6\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\uff0c\u800c\u65b0\u53d1\u884c\u7535\u5b50\u4ee3\u5e01\u7684\u884c\u4e3a\u3002<\/p>\n\n\n\n<p>\u901a\u5e38\uff0c\u4f7f\u7528\u6cd5\u5f8b\u4e0a\u5217\u4e3e\u7684\u201c\u6709\u4ef7\u8bc1\u5238\u201d\u5982\u80a1\u7968\u7b49\u8fdb\u884c\u8d44\u91d1\u7b79\u96c6\uff0c\u5c06\u53d7\u5230\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\uff08\u4ee5\u4e0b\u7b80\u79f0\u201c\u91d1\u5546\u6cd5\u201d\uff09\u7684\u89c4\u5236\u3002\u7136\u800c\uff0cICO\u4ee3\u5e01\u7531\u4e8e\u53d1\u884c\u8005\u53ef\u4ee5\u81ea\u7531\u8bbe\u5b9a\u5176\u5185\u5bb9\uff0c\u56e0\u6b64\u5728\u6cd5\u5f8b\u4e0a\u5e76\u4e0d\u660e\u786e\u5b83\u662f\u5426\u5c5e\u4e8e\u4efb\u4f55\u6709\u4ef7\u8bc1\u5238\uff08\u6216\u8005\u662f\u5426\u6839\u672c\u5c31\u4e0d\u5c5e\u4e8e\u6709\u4ef7\u8bc1\u5238\uff09\uff0c\u8fd9\u662f\u5176\u7279\u70b9\u4e4b\u4e00\u3002<\/p>\n\n\n\n<p>\u56e0\u6b64\uff0c\u6211\u4eec\u9996\u5148\u6839\u636eICO\u4ee3\u5e01\u7684\u5185\u5bb9\u8fdb\u884c\u5b9e\u9645\u5206\u7c7b\uff0c\u7136\u540e\u4ece\u54ea\u4e9b\u6cd5\u89c4\u5236\u53ef\u80fd\u6d89\u53ca\u5404\u7c7b\u578b\u7684\u89d2\u5ea6\uff0c\u4e0b\u9762\u8fdb\u884c\u89e3\u91ca\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ICO%E4%BB%A3%E5%B8%81%E7%9A%84%E5%88%86%E7%B1%BB\"><\/span>ICO\u4ee3\u5e01\u7684\u5206\u7c7b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6839\u636e\u91d1\u878d\u5385\u7684<a href=\"https:\/\/www.fsa.go.jp\/news\/30\/singi\/20181221-1.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">\u62a5\u544a\u4e66[ja]<\/a>\uff0cICO\u4ee3\u5e01\u7684\u5185\u5bb9\u53ef\u4ee5\u5206\u4e3a\u4ee5\u4e0b\u4e09\u7c7b\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">\u6295\u8d44\u578b<\/td><td class=\"has-text-align-left\" data-align=\"left\">\u88ab\u8ba4\u4e3a\u662f\u53d1\u884c\u8005\u627f\u62c5\u4e86\u5206\u914d\u672a\u6765\u4e1a\u52a1\u6536\u76ca\u7b49\u503a\u52a1\u7684<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">\u5176\u4ed6\u6743\u5229\u578b<\/td><td class=\"has-text-align-left\" data-align=\"left\">\u88ab\u8ba4\u4e3a\u662f\u53d1\u884c\u8005\u627f\u62c5\u4e86\u63d0\u4f9b\u672a\u6765\u7269\u54c1\u3001\u670d\u52a1\u7b49\u503a\u52a1\u7684\uff0c\u9664\u4e0a\u8ff0\u4e4b\u5916\u7684<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">\u65e0\u6743\u5229\u578b<\/td><td class=\"has-text-align-left\" data-align=\"left\">\u88ab\u8ba4\u4e3a\u662f\u53d1\u884c\u8005\u6ca1\u6709\u627f\u62c5\u4efb\u4f55\u503a\u52a1\u7684<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u57fa\u4e8e\u4e0a\u8ff0\u5206\u7c7b\uff0c\u6211\u4eec\u6765\u8003\u8651\u6cd5\u89c4\u5236\u7684\u9002\u7528\u5173\u7cfb\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ICO%E6%B3%95%E8%A7%84%E7%9A%84%E5%85%A8%E8%B2%8C\"><\/span>ICO\u6cd5\u89c4\u7684\u5168\u8c8c<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u53ef\u80fd\u9002\u7528\u4e8eICO\u7684\u6cd5\u5f8b\u4e3b\u8981\u5305\u62ec\u300a\u65e5\u672c\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u548c\u300a\u65e5\u672c\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-regular\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5<\/td><td class=\"has-text-align-left\" data-align=\"left\">\u4e3a\u4e86\u786e\u4fdd\u53d1\u884c\u5177\u6709\u6295\u8d44\u6027\u7684\u6709\u4ef7\u8bc1\u5238\u548c\u91d1\u878d\u4ea7\u54c1\u4ea4\u6613\u7684\u516c\u5e73\u6027\uff0c\u5e76\u4fdd\u62a4\u6295\u8d44\u8005\u7684\u6cd5\u5f8b<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">\u8d44\u91d1\u7ed3\u7b97\u6cd5<\/td><td class=\"has-text-align-left\" data-align=\"left\">\u4e3a\u4e86\u5e94\u5bf9\u4fe1\u606f\u901a\u4fe1\u6280\u672f\u7b49\u7684\u53d1\u5c55\uff0c\u4e0e\u94f6\u884c\u63d0\u4f9b\u7684\u4f20\u7edf\u670d\u52a1\u4e0d\u540c\u7684\u65b0\u670d\u52a1\uff0c\u4fc3\u8fdb\u521b\u65b0\u5e76\u4fdd\u62a4\u7528\u6237\u7684\u6cd5\u5f8b<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u533a\u5206\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u548c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u9002\u7528\u7684\u4e00\u4e2a\u57fa\u672c\u89c6\u89d2\u662f\u201c\u662f\u5426\u5177\u6709\u6295\u8d44\u6027\u201d\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\u5236\u662f\u4ec0\u4e48\uff1f\u89e3\u91ca\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u4e0e\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u7684\u5173\u7cfb[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ICO%E4%B8%8E%E3%80%8A%E6%97%A5%E6%9C%AC%E9%87%91%E8%9E%8D%E5%95%86%E5%93%81%E5%8F%96%E5%BC%95%E6%B3%95%E3%80%8B\"><\/span>ICO\u4e0e\u300a\u65e5\u672c\u91d1\u878d\u5546\u54c1\u53d6\u5f15\u6cd5\u300b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u300a\u65e5\u672c\u91d1\u878d\u5546\u54c1\u53d6\u5f15\u6cd5\u300b\uff08\u4ee5\u4e0b\u7b80\u79f0\u300a\u91d1\u5546\u6cd5\u300b\uff09\u5c06\u9002\u7528\u5bf9\u8c61\u4e2d\u5177\u6709\u6295\u8d44\u6027\u8d28\u7684\u91d1\u878d\u5546\u54c1\u4f5c\u4e3a\u201c\u6709\u4ef7\u8bc1\u5238\u201d\u8fdb\u884c\u4e86\u660e\u6587\u5217\u4e3e\u3002\u80a1\u7968\u548c\u516c\u53f8\u503a\u5238\u7b49\u662f\u5176\u4ee3\u8868\u4f8b\u5b50\u3002\u5f53\u91d1\u878d\u5546\u54c1\u6210\u4e3a\u300a\u91d1\u5546\u6cd5\u300b\u7684\u9002\u7528\u5bf9\u8c61\u65f6\uff0c\u6839\u636e\u6709\u4ef7\u8bc1\u5238\u7684\u7c7b\u578b\uff0c\u5bf9\u5176\u53d1\u884c\u3001\u4e70\u5356\u7b49\u7279\u5b9a\u884c\u4e3a\u65bd\u52a0\u4e86\u5404\u79cd\u89c4\u5236\uff0c\u4ee5\u4fdd\u62a4\u6295\u8d44\u8005\uff0c\u5305\u62ec\u4fe1\u606f\u62ab\u9732\u548c\u4e1a\u52a1\u89c4\u5236\u7b49\u3002<\/p>\n\n\n\n<p>\u6b64\u5916\uff0c\u300a\u91d1\u5546\u6cd5\u300b\u4e3a\u4e86\u5e94\u5bf9\u672a\u660e\u6587\u5217\u4e3e\u4f46\u5177\u6709\u6295\u8d44\u6027\u8d28\u7684\u65b0\u578b\u91d1\u878d\u5546\u54c1\uff0c\u8bbe\u7acb\u4e86\u7b2c2\u6761\u7b2c2\u6b3e\u7b2c5\u53f7\uff0c\u4ee5\u5305\u62ec\u6027\u7684\u5b9a\u4e49\u89c4\u5b9a\u4e86\u6709\u4ef7\u8bc1\u5238\uff0c\u901a\u5e38\u5c06\u7b26\u5408\u8be5\u53f7\u7684\u6709\u4ef7\u8bc1\u5238\u79f0\u4e3a\u201c\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\u201d\u3002<\/p>\n\n\n\n<p>\u5982\u524d\u6240\u8ff0\uff0cICO\u4ee3\u5e01\u5e76\u672a\u4f5c\u4e3a\u6709\u4ef7\u8bc1\u5238\u88ab\u5355\u72ec\u660e\u6587\u5217\u4e3e\u3002\u56e0\u6b64\uff0c\u5224\u65adICO\u662f\u5426\u6210\u4e3a\u300a\u91d1\u5546\u6cd5\u300b\u7684\u9002\u7528\u5bf9\u8c61\uff0c\u9700\u8981\u6839\u636eICO\u4ee3\u5e01\u7684\u5177\u4f53\u5185\u5bb9\uff0c\u9010\u6848\u5177\u4f53\u5224\u65ad\u5176\u662f\u5426\u7b26\u5408\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%AC%A6%E5%90%88%E9%9B%86%E5%9B%A2%E6%8A%95%E8%B5%84%E8%AE%A1%E5%88%92%E4%BB%BD%E9%A2%9D%E7%9A%84%E6%83%85%E5%86%B5\"><\/span>\u7b26\u5408\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\u7684\u60c5\u51b5<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\u7684\u8981\u6c42\u5982\u4e0b\uff1a<\/p>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\"><div class=\"wp-block-group__inner-container\">\n<ol>\n<li>\u6743\u5229\u6301\u6709\u8005\u51fa\u8d44\u6216\u62e8\u6b3e\u91d1\u94b1\u7b49<\/li>\n\n\n\n<li>\u6240\u62e8\u6b3e\u7684\u91d1\u94b1\u7b49\u7528\u4e8e\u7ecf\u8425\u4e1a\u52a1\uff08\u51fa\u8d44\u5bf9\u8c61\u4e1a\u52a1\uff09<\/li>\n\n\n\n<li>\u6743\u5229\u6301\u6709\u8005\u6709\u6743\u4ece\u51fa\u8d44\u5bf9\u8c61\u4e1a\u52a1\u4ea7\u751f\u7684\u6536\u76ca\u4e2d\u83b7\u5f97\u5206\u7ea2\uff0c\u6216\u5bf9\u8be5\u51fa\u8d44\u5bf9\u8c61\u4e1a\u52a1\u76f8\u5173\u8d22\u4ea7\u8fdb\u884c\u5206\u914d<\/li>\n<\/ol>\n<\/div><\/div>\n\n\n\n<p>\u53ea\u8981\u6ee1\u8db3\u4e0a\u8ff0\u8981\u6c42\uff0c\u65e0\u8bba\u91c7\u53d6\u4f55\u79cd\u6cd5\u5f8b\u5f62\u5f0f\uff08\u5982\u5408\u4f19\u6216\u793e\u5458\u6743\u7b49\uff09\uff0c\u90fd\u7b26\u5408\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\u3002<\/p>\n\n\n\n<p>\u6b64\u5916\uff0c\u4e0a\u8ff0\u8981\u6c421\u4e2d\u7684\u201c\u91d1\u94b1\u201d\u5305\u62ec\u4e86\u52a0\u5bc6\u8d44\u4ea7\uff08\u6839\u636e\u7b2c2\u6761\u76842\uff09\uff0c\u8fd9\u4e00\u70b9\u5728\u4ee4\u548c\u5143\u5e74\uff082019\u5e74\uff09\u7684\u4fee\u6b63\u4e2d\u88ab\u660e\u6587\u5316\uff0c\u4ece\u800c\u660e\u786e\u4e86\u4f7f\u7528\u52a0\u5bc6\u8d44\u4ea7\u8fdb\u884c\u51fa\u8d44\u7684\u884c\u4e3a\u4e5f\u6210\u4e3a\u300a\u91d1\u5546\u6cd5\u300b\u7684\u9002\u7528\u5bf9\u8c61\u3002<\/p>\n\n\n\n<p>\u6839\u636e\u524d\u8ff0ICO\u7684\u7c7b\u578b\uff0c\u53ef\u4ee5\u8bf4\uff0c\u6295\u8d44\u578bICO\u4ee3\u5e01\u57fa\u672c\u4e0a\u7b26\u5408\u96c6\u56e2\u6295\u8d44\u8ba1\u5212\u4efd\u989d\uff0c\u56e0\u6b64\u660e\u786e\u6210\u4e3a\u300a\u91d1\u5546\u6cd5\u300b\u7684\u9002\u7528\u5bf9\u8c61\u3002<\/p>\n\n\n\n<p>\u53e6\u4e00\u65b9\u9762\uff0c\u201c\u5176\u4ed6\u6743\u5229\u578b\u201d\u6216\u201c\u65e0\u6743\u5229\u578b\u201d\u7684ICO\u4ee3\u5e01\uff0c\u7531\u4e8e\u4e0d\u5177\u5907\u4ece\u51fa\u8d44\u5bf9\u8c61\u4e1a\u52a1\u4e2d\u83b7\u5f97\u6536\u76ca\u5206\u7ea2\u6216\u8d22\u4ea7\u5206\u914d\u7684\u6743\u5229\uff08\u4e0d\u6ee1\u8db3\u4e0a\u8ff0\u8981\u6c423\uff09\uff0c\u56e0\u6b64\u4e0d\u5c5e\u4e8e\u300a\u91d1\u5546\u6cd5\u300b\u7684\u9002\u7528\u5bf9\u8c61\u3002\u56e0\u6b64\uff0c\u5bf9\u4e8e\u201c\u5176\u4ed6\u6743\u5229\u578b\u201d\u6216\u201c\u65e0\u6743\u5229\u578b\u201d\uff0c\u8fd8\u6709\u5fc5\u8981\u53e6\u884c\u8003\u8651\u662f\u5426\u9002\u7528\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"ICO%E4%B8%8E%E3%80%8A%E6%97%A5%E6%9C%AC%E8%B5%84%E9%87%91%E7%BB%93%E7%AE%97%E6%B3%95%E3%80%8B\"><\/span>ICO\u4e0e\u300a\u65e5\u672c\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u300a\u65e5\u672c\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u9488\u5bf9\u6ca1\u6709\u6295\u8d44\u6027\u8d28\u7684\u652f\u4ed8\u30fb\u7ed3\u7b97\u624b\u6bb5\uff0c\u6839\u636e\u201c\u52a0\u5bc6\u8d44\u4ea7\u201d\u6216\u201c\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\u201d\u7b49\u7c7b\u578b\uff0c\u65bd\u52a0\u4e86\u5404\u79cd\u89c4\u5236\u3002<\/p>\n\n\n\n<p>\u56e0\u6b64\uff0c\u5bf9\u4e8e\u201c\u5176\u4ed6\u6743\u5229\u578b\u201d\u6216\u201c\u65e0\u6743\u5229\u578b\u201d\u7684ICO\u4ee3\u5e01\u662f\u5426\u9002\u7528\u300a\u65e5\u672c\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\uff0c\u9700\u8981\u5177\u4f53\u5224\u65ad\u8be5\u4ee3\u5e01\u662f\u5426\u5c5e\u4e8e\u201c\u52a0\u5bc6\u8d44\u4ea7\u201d\u6216\u201c\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\u201d\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%A6%82%E6%9E%9C%E5%B1%9E%E4%BA%8E%E3%80%8C%E5%8A%A0%E5%AF%86%E8%B5%84%E4%BA%A7%E3%80%8D\"><\/span>\u5982\u679c\u5c5e\u4e8e\u300c\u52a0\u5bc6\u8d44\u4ea7\u300d<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u5728\u6cd5\u5f8b\u4e0a\uff0c\u300c\u52a0\u5bc6\u8d44\u4ea7\u300d\uff08\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7b2c2\u6761\u7b2c5\u6b3e\u7b2c1\u9879\uff1a\u7b2c1\u53f7\u52a0\u5bc6\u8d44\u4ea7\uff09\u6307\u6ee1\u8db3\u4ee5\u4e0b\u6761\u4ef6\u7684\u8d44\u4ea7\uff1a<\/p>\n\n\n\n<ol>\n<li>\u53ef\u4ee5\u7528\u4e8e\u5411\u4e0d\u7279\u5b9a\u4eba\u8d2d\u4e70\u5546\u54c1\u6216\u63d0\u4f9b\u670d\u52a1\u7684\u4ee3\u4ef7\u652f\u4ed8\uff0c\u5e76\u4e14\u53ef\u4ee5\u4e0e\u4e0d\u7279\u5b9a\u4eba\u4e92\u6362\u4e3a\u6cd5\u5b9a\u8d27\u5e01<\/li>\n\n\n\n<li>\u80fd\u591f\u4ee5\u7535\u5b50\u65b9\u5f0f\u8bb0\u5f55\u548c\u8f6c\u79fb<\/li>\n\n\n\n<li>\u4e0d\u662f\u6cd5\u5b9a\u8d27\u5e01\u6216\u4ee5\u8d27\u5e01\u8ba1\u4ef7\u7684\u8d44\u4ea7<\/li>\n\n\n\n<li>\u4e0d\u662f\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u7b2c2\u6761\u7b2c3\u6b3e\u89c4\u5b9a\u7684\u201c\u7535\u5b50\u8bb0\u5f55\u8f6c\u79fb\u6743\u5229\u201d\u6240\u8868\u793a\u7684\u5bf9\u8c61<\/li>\n<\/ol>\n\n\n\n<p>\u7b2c4\u4e2a\u6761\u4ef6\u4e2d\u7684\u201c\u7535\u5b50\u8bb0\u5f55\u8f6c\u79fb\u6743\u5229\u201d\uff0c\u7b80\u5355\u6765\u8bf4\uff0c\u662f\u6307\u201c\u53ef\u4ee5\u7535\u5b50\u8bb0\u5f55\u548c\u8f6c\u79fb\u7684\u96c6\u4f53\u6295\u8d44\u8ba1\u5212\u4efd\u989d\u201d\u3002\u56e0\u6b64\uff0c\u6cd5\u5f8b\u4e0a\u7684\u300c\u52a0\u5bc6\u8d44\u4ea7\u300d\u4e0e\u4f5c\u4e3a\u6295\u8d44\u5bf9\u8c61\u7684\u91d1\u878d\u4ea7\u54c1\u6709\u660e\u786e\u533a\u5206\uff0c\u5e76\u4f5c\u4e3a\u652f\u4ed8\u548c\u7ed3\u7b97\u624b\u6bb5\u53d7\u5230\u89c4\u8303\u3002<\/p>\n\n\n\n<p>\u6b64\u5916\uff0c\u6ee1\u8db3\u4e0a\u8ff0\u7b2c2\u81f3\u7b2c4\u4e2a\u6761\u4ef6\uff0c\u5e76\u4e14\u53ef\u4ee5\u4e0e\u4e0d\u7279\u5b9a\u4eba\u4e92\u6362\u7684\u8d22\u4ea7\u4ef7\u503c\u4e5f\u5c5e\u4e8e\u52a0\u5bc6\u8d44\u4ea7\uff08\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7b2c2\u6761\u7b2c5\u6b3e\u7b2c2\u9879\uff1a\u7b2c2\u53f7\u52a0\u5bc6\u8d44\u4ea7\uff09\u3002<\/p>\n\n\n\n<p>\u76f8\u5173\u6587\u7ae0\uff1a<a href=\"https:\/\/monolith-law.jp\/corporate\/comparision-electronicmoney-virtualcurrency\" target=\"_blank\" rel=\"noreferrer noopener\">\u4ec0\u4e48\u662f\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\uff1f\u89e3\u91ca\u6cd5\u5f8b\u5b9a\u4e49\u53ca\u4e0e\u7535\u5b50\u8d27\u5e01\u7b49\u7684\u533a\u522b[ja]<\/a><\/p>\n\n\n\n<p>\u5982\u679c\u5c5e\u4e8e\u52a0\u5bc6\u8d44\u4ea7\uff0c\u672a\u7ecf\u6ce8\u518c\u4e3a\u300c\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362\u4e1a\u300d\uff0c\u5219\u4e0d\u5f97\u4ece\u4e8b\u4ee5\u4e0b\u4e1a\u52a1\uff08\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7b2c63\u6761\u4e4b2\uff09\uff1a<\/p>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n\n<blockquote class=\"wp-block-quote\">\n<p>\u4e00\u3000\u4e70\u5356\u52a0\u5bc6\u8d44\u4ea7\u6216\u4e0e\u5176\u4ed6\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362<br>\u4e8c\u3000\u4ecb\u7ecd\u3001\u4e2d\u4ecb\u6216\u4ee3\u7406\u4e0a\u8ff0\u4e1a\u52a1<br>\u4e09\u3000\u7ba1\u7406\u4e0e\u524d\u4e24\u9879\u4e1a\u52a1\u76f8\u5173\u7684\u7528\u6237\u8d44\u91d1<br>\u56db\u3000\u4e3a\u4ed6\u4eba\u7ba1\u7406\u52a0\u5bc6\u8d44\u4ea7\uff08\u9664\u975e\u5176\u4ed6\u6cd5\u5f8b\u6709\u7279\u522b\u89c4\u5b9a\u7684\u60c5\u51b5\u4e0b\uff0c\u4f5c\u4e3a\u4e1a\u52a1\u8fdb\u884c\u7ba1\u7406\uff09\u3002<\/p>\n\n<cite>\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7b2c2\u6761\u7b2c7\u6b3e<\/cite><\/blockquote>\n\n\n<p><!-- \/wp:group --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u867d\u7136\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362\u4e1a\u5e76\u4e0d\u76f4\u63a5\u89c4\u5236\u52a0\u5bc6\u8d44\u4ea7\u7684\u53d1\u884c\uff0c\u4f46\u5982\u679cICO\u4ee3\u5e01\u5c5e\u4e8e\u52a0\u5bc6\u8d44\u4ea7\uff0c\u53d1\u884c\u8be5ICO\u4ee3\u5e01\u5e76\u4ee5\u6b64\u7b79\u96c6\u52a0\u5bc6\u8d44\u4ea7\u4f5c\u4e3a\u5bf9\u4ef7\uff0c\u5c31\u5c5e\u4e8e\u300c\u4e0e\u5176\u4ed6\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362\u300d\u7684\u884c\u4e3a\uff0c\u56e0\u6b64\u9700\u8981\u6ce8\u518c\u4e3a\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362\u4e1a\u3002<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u76f8\u5173\u6587\u7ae0\uff1a<a href=\"https:\/\/monolith-law.jp\/corporate\/cryptocurrency-custody\" target=\"_blank\" rel=\"noreferrer noopener\">\u4ec0\u4e48\u662f\u6258\u7ba1\u4e1a\u52a1\uff1f\u89e3\u91ca\u5bf9\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362\u4e1a\u8005\u7684\u89c4\u5236[ja]<\/a><!-- \/wp:paragraph --><!-- wp:heading {\"level\":4} --><\/p>\n<h4><span class=\"ez-toc-section\" id=\"%E8%8B%A5%E5%B1%9E%E4%BA%8E%E3%80%8C%E9%A2%84%E4%BB%98%E5%BC%8F%E6%94%AF%E4%BB%98%E6%89%8B%E6%AE%B5%E3%80%8D\"><\/span>\u82e5\u5c5e\u4e8e\u300c\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\u300d<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><!-- \/wp:heading --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u6240\u8c13\u300c\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\u300d\uff08\u7b2c3\u6761\u7b2c1\u6b3e\uff09\uff0c\u662f\u6307\u6ee1\u8db3\u4ee5\u4e0b\u6761\u4ef6\u7684\u5de5\u5177\uff1a<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:list {\"ordered\":true} --><\/p>\n<ol>\n<li style=\"list-style-type: none\">\n<ol><!-- wp:list-item -->\n<li>\u8bb0\u5f55\u4e86\u91d1\u989d\u3001\u6570\u91cf\u7b49\u8d22\u4ea7\u4ef7\u503c<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><!-- \/wp:list-item --><!-- wp:list-item --><\/p>\n<ol>\n<li style=\"list-style-type: none\">\n<ol>\n<li>\u4ee5\u76f8\u5e94\u7684\u91d1\u989d\u3001\u6570\u91cf\u7b49\u4f5c\u4e3a\u5bf9\u4ef7\u53d1\u884c\u7684\u7968\u636e\u6216\u7f16\u53f7\u7b49<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><!-- \/wp:list-item --><!-- wp:list-item --><\/p>\n<ol>\n<li style=\"list-style-type: none\">\n<ol>\n<li>\u53ef\u4ee5\u7528\u4e8e\u5411\u7279\u5b9a\u4eba\u652f\u4ed8\u4ee3\u4ef7<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p><!-- \/wp:list-item --><\/p>\n<p><!-- \/wp:list --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u82e5\u5c5e\u4e8e\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\uff0c\u6839\u636e\u662f\u300c\u81ea\u5bb6\u578b\u300d\u8fd8\u662f\u300c\u7b2c\u4e09\u65b9\u578b\u300d\uff0c\u53d1\u884c\u8005\u5c06\u88ab\u8981\u6c42\u5c65\u884c\u6ce8\u518c\u3001\u62a5\u544a\u3001\u5b58\u653e\u53d1\u884c\u4fdd\u8bc1\u91d1\u7b49\u4e49\u52a1\u3002<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u53d1\u884c\u4fdd\u8bc1\u91d1\u7684\u5b58\u653e\u4e49\u52a1\u662f\u6307\uff0c\u82e5\u57fa\u51c6\u65e5\u7684\u672a\u4f7f\u7528\u4f59\u989d\uff08\u603b\u53d1\u884c\u989d=\u603b\u56de\u6536\u989d\uff09\u8d85\u8fc71000\u4e07\u65e5\u5143\uff0c\u5c31\u5fc5\u987b\u5b58\u653e\u76f8\u5f53\u4e8e\u8be5\u4f59\u989d50%\u7684\u73b0\u91d1\u4f5c\u4e3a\u53d1\u884c\u4fdd\u8bc1\u91d1\uff08\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7b2c14\u6761\u7b2c1\u6b3e\u3001\u65bd\u884c\u4ee4\u7b2c6\u6761\uff09\uff0c\u56e0\u6b64\u53ef\u80fd\u672c\u8d28\u4e0a\u4e0d\u7b26\u5408ICO\u7684\u8d44\u91d1\u7b79\u96c6\u76ee\u7684\u3002<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u7136\u800c\uff0c\u5bf9\u4e8e\u6ee1\u8db3\u4e00\u5b9a\u6761\u4ef6\u7684\u5de5\u5177\uff0c\u4f8b\u5982\u4ec5\u5728\u53d1\u884c\u65e5\u8d776\u4e2a\u6708\u5185\u53ef\u4f7f\u7528\u7684\u5de5\u5177\uff0c\u53ef\u4ee5\u4f5c\u4e3a\u4f8b\u5916\u6392\u9664\u5728\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7684\u9002\u7528\u8303\u56f4\u4e4b\u5916\uff08\u65e5\u672c\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7b2c4\u6761\u7b2c2\u53f7\u3001\u65bd\u884c\u4ee4\u7b2c4\u6761\u7b2c2\u6b3e\uff09\u3002<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u53e6\u5916\uff0c\u6839\u636e<a href=\"https:\/\/www.fsa.go.jp\/common\/law\/guide\/kaisya\/16.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">\u65e5\u672c\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6362\u4e1a\u6307\u5357[ja]<\/a>\u2160-1-1\uff0c\u52a0\u5bc6\u8d44\u4ea7\u4e0e\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\u7684\u533a\u522b\u5728\u4e8e\uff0c\u52a0\u5bc6\u8d44\u4ea7\u53ef\u4f9b\u4e0d\u7279\u5b9a\u4eba\u4f7f\u7528\uff0c\u800c\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\u4ec5\u9650\u7279\u5b9a\u4eba\u4f7f\u7528\u3002<!-- \/wp:paragraph --><!-- wp:heading --><\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E9%9D%9E%E6%B3%95ICO%E7%9A%84%E5%A4%84%E7%BD%9A%E8%A7%84%E5%AE%9A\"><\/span>\u975e\u6cd5ICO\u7684\u5904\u7f5a\u89c4\u5b9a<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><!-- \/wp:heading --><\/p>\n<p><!-- wp:image {\"id\":50418,\"sizeSlug\":\"full\",\"linkDestination\":\"none\"} --><\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-69032\" src=\"https:\/\/monolith.law\/zh-cn\/wp-content\/uploads\/sites\/44\/2024\/05\/ico-regulation-3-300x200.jpg\" alt=\"\" width=\"840\" height=\"560\" srcset=\"https:\/\/monolith.law\/zh-cn\/wp-content\/uploads\/sites\/44\/2024\/05\/ico-regulation-3-300x200.jpg 300w, https:\/\/monolith.law\/zh-cn\/wp-content\/uploads\/sites\/44\/2024\/05\/ico-regulation-3-250x167.jpg 250w, https:\/\/monolith.law\/zh-cn\/wp-content\/uploads\/sites\/44\/2024\/05\/ico-regulation-3.jpg 735w\" sizes=\"(max-width: 840px) 100vw, 840px\" \/><\/figure>\n<p><!-- \/wp:image --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u82e5ICO\u5c5e\u4e8e\u96c6\u4f53\u6295\u8d44\u8ba1\u5212\uff0c\u5e76\u4e14\u9002\u7528\u4e8e\u300a\u65e5\u672c\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\uff08Japanese Financial Instruments and Exchange Act\uff09\uff0c\u4f46\u672a\u7ecf\u6ce8\u518c\u5c31\u8fdb\u884cICO\uff0c\u5c06\u9762\u4e34\u4e0d\u8d85\u8fc75\u5e74\u7684\u6709\u671f\u5f92\u5211\u6216\u4e0d\u8d85\u8fc7500\u4e07\u65e5\u5143\u7684\u7f5a\u91d1\uff0c\u6216\u4e24\u8005\u5e76\u5904\uff08\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u7b2c197\u6761\u4e4b2\uff081972\u5e74\uff09\uff09\u3002<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u6b64\u5916\uff0c\u82e5\u8fdd\u53cd\u300a\u65e5\u672c\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\uff08Japanese Payment Services Act\uff09\uff0c\u672a\u7ecf\u6ce8\u518c\u5c31\u4ece\u4e8b\u53d7\u76d1\u7ba1\u7684\u6d3b\u52a8\uff0c\u6216\u672a\u5c65\u884c\u4fdd\u8bc1\u91d1\u4e49\u52a1\u7b49\u5c31\u53d1\u884c\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\uff0c\u5c06\u9762\u4e34\u4e0d\u8d85\u8fc73\u5e74\u7684\u6709\u671f\u5f92\u5211\u6216\u4e0d\u8d85\u8fc7300\u4e07\u65e5\u5143\u7684\u7f5a\u91d1\uff0c\u6216\u4e24\u8005\u5e76\u5904\uff08\u300a\u8d44\u91d1\u7ed3\u7b97\u6cd5\u300b\u7b2c107\u6761\uff09\u3002<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u8fdb\u4e00\u6b65\u5730\uff0c\u6839\u636e\u6848\u4ef6\u60c5\u51b5\uff0c\u8fd8\u53ef\u80fd\u4f1a\u56e0\u8bc8\u9a97\u7f6a\u3001\u8fdd\u53cd\u300a\u51fa\u8d44\u6cd5\u300b\u3001\u8fdd\u53cd\u300a\u7279\u5b9a\u5546\u4e1a\u4ea4\u6613\u6cd5\u300b\u7b49\u88ab\u8ffd\u7a76\u8d23\u4efb\uff0c\u53ef\u80fd\u4f1a\u53d7\u5230\u975e\u5e38\u4e25\u91cd\u7684\u5904\u7f5a\u3002<!-- \/wp:paragraph --><!-- wp:heading --><\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E5%90%88%E6%B3%95%E8%BF%9B%E8%A1%8CICO%E7%9A%84%E6%96%B9%E6%B3%95\"><\/span>\u5408\u6cd5\u8fdb\u884cICO\u7684\u65b9\u6cd5<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><!-- \/wp:heading --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u5728\u8fdb\u884cICO\u65f6\uff0c\u5fc5\u987b\u9075\u5b88\u5404\u79cd\u6cd5\u5f8b\u6cd5\u89c4\u3002\u9664\u4e86\u5229\u7528\u5df2\u7ecf\u6ce8\u518c\u4e3a\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u4e1a\u7684\u7b2c\u4e09\u65b9\u6765\u5b9e\u65bdICO\u5916\uff0c\u76ee\u524d\u552f\u4e00\u4e0d\u5b8c\u5168\u53d7\u5230\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u6216\u652f\u4ed8\u670d\u52a1\u6cd5\u9002\u7528\u7684\u81ea\u884c\u8fdb\u884cICO\u7684\u65b9\u6cd5\u5982\u4e0b\uff1a<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:list --><\/p>\n<ul>\n<li style=\"list-style-type: none\">\n<ul><!-- wp:list-item -->\n<li>\u4f5c\u4e3a\u6ee1\u8db3\u652f\u4ed8\u670d\u52a1\u6cd5\u8c41\u514d\u6761\u4ef6\u7684\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\uff0c\u53d1\u884cICO\u4ee3\u5e01\uff08\u53d1\u884c\u65e5\u8d776\u4e2a\u6708\u5185\u4f7f\u7528\u671f\u9650\uff09<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><!-- \/wp:list-item --><\/p>\n<p><!-- \/wp:list --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u7136\u800c\uff0c\u8003\u8651\u5230\u5b9e\u65bdICO\u901a\u5e38\u662f\u4e3a\u4e86\u7b79\u96c6\u8d44\u91d1\u4ee5\u63a8\u8fdb\u65b0\u9879\u76ee\uff0c6\u4e2a\u6708\u7684\u4f7f\u7528\u671f\u9650\u5bf9\u4e8e\u8d2d\u4e70\u8005\u6765\u8bf4\uff0c\u53ef\u80fd\u4f1a\u4f7f\u5f97\u76f8\u5173\u4ee3\u5e01\u53d8\u5f97\u6beb\u65e0\u4ef7\u503c\u3002<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u5f53\u7136\uff0c\u4e5f\u53ef\u4ee5\u8003\u8651\u6b63\u5f0f\u6ce8\u518c\u4e3a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u4e1a\u6216\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u4e1a\uff0c\u4ee5\u5408\u6cd5\u6b63\u9762\u5730\u8fdb\u884cICO\uff0c\u4f46\u8fd9\u4e9b\u6ce8\u518c\u8981\u6c42\u975e\u5e38\u4e25\u683c\uff0c\u5bf9\u4e8e\u4e2d\u5c0f\u4f01\u4e1a\u6765\u8bf4\uff0c\u6ee1\u8db3\u8fd9\u4e9b\u8981\u6c42\u5e76\u4e0d\u73b0\u5b9e\u3002<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u53e6\u5916\uff0c\u4e5f\u53ef\u4ee5\u8003\u8651\u53d1\u884c\u4e0d\u6ee1\u8db3\u8c41\u514d\u6761\u4ef6\u7684\u9884\u4ed8\u5f0f\u652f\u4ed8\u624b\u6bb5\uff0c\u4f46\u5982\u524d\u6240\u8ff0\uff0c\u53ef\u80fd\u4f1a\u88ab\u8981\u6c42\u8fdb\u884c\u6ce8\u518c\u3001\u62a5\u544a\u4ee5\u53ca\u7f34\u7eb3\u53d1\u884c\u4fdd\u8bc1\u91d1\u7b49\u4e49\u52a1\uff0c\u8fd9\u53ef\u80fd\u672c\u8d28\u4e0a\u4e0d\u7b26\u5408ICO\u7b79\u8d44\u7684\u76ee\u7684\u3002<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u56e0\u6b64\uff0c\u9664\u4e86\u5229\u7528\u5df2\u7ecf\u6ce8\u518c\u4e3a\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u4e1a\u7684\u7b2c\u4e09\u65b9\u4e4b\u5916\uff0c\u76ee\u524d\u4f3c\u4e4e\u6ca1\u6709\u5176\u4ed6\u5408\u6cd5\u4e14\u6709\u6548\u7684\u81ea\u884c\u5b9e\u65bdICO\u7684\u65b9\u6cd5\u3002<!-- \/wp:paragraph --><!-- wp:heading --><\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E6%80%BB%E7%BB%93%EF%BC%9A%E8%BF%9B%E8%A1%8CICO%E6%97%B6%E8%AF%B7%E5%92%A8%E8%AF%A2%E5%BE%8B%E5%B8%88\"><\/span>\u603b\u7ed3\uff1a\u8fdb\u884cICO\u65f6\u8bf7\u54a8\u8be2\u5f8b\u5e08<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><!-- \/wp:heading --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u5982\u4e0a\u6240\u8ff0\uff0c\u867d\u7136ICO\u66fe\u88ab\u89c6\u4e3a\u4e00\u79cd\u4f20\u7edf\u7684\u3001\u7b80\u4fbf\u4e14\u8fc5\u901f\u7684\u8d44\u91d1\u7b79\u96c6\u624b\u6bb5\uff0c\u4f46\u7531\u4e8e\u6cd5\u5f8b\u4fee\u6b63\u7b49\u539f\u56e0\uff0c\u73b0\u5728\u5df2\u7ecf\u6210\u4e3a\u5e7f\u6cdb\u76d1\u7ba1\u7684\u5bf9\u8c61\u3002\u6b64\u5916\uff0cICO\u4e0d\u80fd\u4e00\u6982\u800c\u8bba\uff0c\u6839\u636e\u53d1\u884c\u7684ICO\u4ee3\u5e01\u7684\u5185\u5bb9\uff0c\u9002\u7528\u7684\u6cd5\u5f8b\u5173\u7cfb\u4e5f\u76f8\u5f53\u590d\u6742\u3002<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>\u56e0\u6b64\uff0c\u5f53\u60a8\u8003\u8651\u5b9e\u65bdICO\u65f6\uff0c\u6211\u4eec\u5efa\u8bae\u60a8\u54a8\u8be2\u719f\u6089\u52a0\u5bc6\u8d44\u4ea7\u548c\u91d1\u878d\u76d1\u7ba1\u7684\u4e13\u4e1a\u5f8b\u5e08\u3002<!-- \/wp:paragraph --><!-- wp:heading --><\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E6%88%91%E6%89%80%E9%87%87%E5%8F%96%E7%9A%84%E5%AF%B9%E7%AD%96%E6%8C%87%E5%8D%97\"><\/span>\u6211\u6240\u91c7\u53d6\u7684\u5bf9\u7b56\u6307\u5357<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><!-- \/wp:heading --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>Monolith\u5f8b\u5e08\u4e8b\u52a1\u6240\u662f\u4e00\u5bb6\u5728IT\u9886\u57df\uff0c\u5c24\u5176\u662f\u4e92\u8054\u7f51\u548c\u6cd5\u5f8b\u4e24\u65b9\u9762\u90fd\u5177\u6709\u9ad8\u5ea6\u4e13\u4e1a\u6027\u7684\u5f8b\u5e08\u4e8b\u52a1\u6240\u3002\u6211\u4eec\u63d0\u4f9b\u6d89\u53ca\u52a0\u5bc6\u8d44\u4ea7\u548c\u533a\u5757\u94fe\u4e1a\u52a1\u7684\u5168\u9762\u652f\u6301\u3002\u5177\u4f53\u8be6\u60c5\u8bf7\u53c2\u9605\u4e0b\u6587\u3002<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<figure class=\"is-type-wp-embed\">\n<div><a href=\"https:\/\/monolith.law\/blockchain\" target=\"_blank\" rel=\"noopener\">https:\/\/monolith.law\/blockchain[ja]<\/a><\/div>\n<\/figure>","protected":false},"excerpt":{"rendered":"<p>ICO\uff0c\u5373Initial Coin Offering\uff08\u9996\u6b21\u4ee3\u5e01\u53d1\u884c\uff09\u7684\u7f29\u5199\uff0c\u901a\u5e38\u6307\u7684\u662f\u4f01\u4e1a\u4ece\u516c\u4f17\u5904\u7b79\u96c6\u52a0\u5bc6\u8d44\u4ea7\uff08\u865a\u62df\u8d27\u5e01\uff09\uff0c\u5e76\u4f5c\u4e3a\u5bf9\u4ef7\u65b0\u53d1\u884c\u7535\u5b50\u4ee3\u5e01\u7684\u884c\u4e3a\u3002 ICO\u57282017\u5e745\u6708\u5de6\u53f3\uff0c\u968f\u7740\u52a0\u5bc6\u8d44\u4ea7\u4ef7\u683c\u7684\u98d9\u5347\uff0c\u4f5c\u4e3a\u7b79\u8d44\u624b\u6bb5\u5448\u7206\u70b8\u6027\u589e\u957f\u3002\u5f53\u65f6\u7531\u4e8e\u7f3a\u4e4f\u660e\u786e\u7684ICO\u76d1\u7ba1\u6cd5\u5f8b\uff0c\u4e0e\u901a\u8fc7\u9996\u6b21\u516c\u5f00\u52df\u80a1\uff08IPO\uff09\u7b79\u96c6\u8d44\u91d1\u76f8\u6bd4\uff0cICO\u80fd\u591f\u66f4\u4e3a\u7b80\u4fbf\u548c\u8fc5\u901f\u5730\u7b79\u96c6\u5230\u5de8\u989d\u8d44\u91d1\uff0c\u5728\u65e5\u672c\u4e5f\u56e0\u6b64\u53d7\u5230\u4e86\u5e7f\u6cdb\u5173\u6ce8\u3002 \u7136\u800c\uff0c\u7531\u4e8e\u4e5f\u51fa\u73b0 [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":69030,"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\/zh-cn\/wp-json\/wp\/v2\/posts\/65178"}],"collection":[{"href":"https:\/\/monolith.law\/zh-cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/zh-cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/zh-cn\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/zh-cn\/wp-json\/wp\/v2\/comments?post=65178"}],"version-history":[{"count":3,"href":"https:\/\/monolith.law\/zh-cn\/wp-json\/wp\/v2\/posts\/65178\/revisions"}],"predecessor-version":[{"id":69033,"href":"https:\/\/monolith.law\/zh-cn\/wp-json\/wp\/v2\/posts\/65178\/revisions\/69033"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/zh-cn\/wp-json\/wp\/v2\/media\/69030"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/zh-cn\/wp-json\/wp\/v2\/media?parent=65178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/zh-cn\/wp-json\/wp\/v2\/categories?post=65178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/zh-cn\/wp-json\/wp\/v2\/tags?post=65178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}