{"id":67233,"date":"2024-04-10T16:01:56","date_gmt":"2024-04-10T07:01:56","guid":{"rendered":"https:\/\/monolith.law\/zh-tw\/?p=67233"},"modified":"2024-04-19T16:32:28","modified_gmt":"2024-04-19T07:32:28","slug":"defi-dex-regulations","status":"publish","type":"post","link":"https:\/\/monolith.law\/zh-tw\/it\/defi-dex-regulations","title":{"rendered":"DeFi\u7684\u4e09\u5927\u6cd5\u5f8b\u554f\u984c\u662f\u4ec0\u9ebc?\u95e1\u8ff0DEX\u4ee3\u5e63\u767c\u884c\u76f8\u95dc\u6cd5\u898f"},"content":{"rendered":"\n<p>\u5340\u584a\u93c8\u6280\u8853\u5df2\u88ab\u61c9\u7528\u65bc\u5404\u7a2e\u9818\u57df\u3002\u5728\u52a0\u5bc6\u8cc7\u7522\uff08\u865b\u64ec\u8ca8\u5e63\uff09\u4e2d\uff0c\u5be6\u73fe\u4e86\u7121\u9700\u4e2d\u592e\u9280\u884c\u4ecb\u5165\u7684\u8ca8\u5e63\uff08\u8cc7\u7522\uff09\uff0c\u4e26\u5df2\u767c\u884c\u4e86\u5f9e\u5546\u696d\u5230\u85dd\u8853\u7684\u5404\u7a2eNFT\u3002\u6b64\u5916\uff0c\u5229\u7528\u5340\u584a\u93c8\u6280\u8853\u7684\u5206\u6563\u5f0f\u91d1\u878d\uff0c\u53ef\u4ee5\u5be6\u73fe\u7121\u9700\u7ba1\u7406\u8005\u6216\u4e2d\u4ecb\u7684\u5b8c\u5168P2P\uff08\u9ede\u5c0d\u9ede\uff09\u91d1\u878d\u4ea4\u6613\u3002<\/p>\n\n\n\n<p>\u9019\u4e9b\u6240\u8b02\u7684\u300cWeb3\u300d\u9818\u57df\uff0c\u76ee\u524d\u7684\u60c5\u6cc1\u662f\u6cd5\u5f8b\u898f\u5b9a\u9084\u672a\u8ddf\u4e0a\u3002\u56e0\u6b64\uff0c\u9032\u884cWeb3\u9818\u57df\u7684\u696d\u52d9\u6642\uff0c\u9700\u8981\u8b39\u614e\u8003\u616e\u65e5\u672c\u7684\u300c\u8cc7\u91d1\u6e05\u7b97\u6cd5\u300d\u548c\u300c\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300d\u7b49\u6cd5\u5f8b\uff0c\u4e26\u5efa\u7acb\u696d\u52d9\u6a21\u578b\u3002<\/p>\n\n\n\n<p>\u5728\u9019\u88e1\uff0c\u672c\u6240\u5c07\u89e3\u91cb\u4f7f\u7528\u5340\u584a\u93c8\u6280\u8853\u7684DeFi\uff08\u5206\u6563\u5f0f\u91d1\u878d\uff09\u548cDEX\uff08\u5206\u6563\u5f0f\u4ea4\u6613\u6240\uff09\u7684\u6cd5\u898f\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-tw\/it\/defi-dex-regulations\/#%E4%BD%95%E8%AC%82DeFi%EF%BC%88%E5%88%86%E6%95%A3%E5%9E%8B%E9%87%91%E8%9E%8D%EF%BC%89\" title=\"\u4f55\u8b02DeFi\uff08\u5206\u6563\u578b\u91d1\u878d\uff09\">\u4f55\u8b02DeFi\uff08\u5206\u6563\u578b\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-tw\/it\/defi-dex-regulations\/#DeFi%E8%88%87DEX%EF%BC%88%E5%88%86%E6%95%A3%E5%9E%8B%E4%BA%A4%E6%98%93%E6%89%80%EF%BC%89\" title=\"DeFi\u8207DEX\uff08\u5206\u6563\u578b\u4ea4\u6613\u6240\uff09\">DeFi\u8207DEX\uff08\u5206\u6563\u578b\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-tw\/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%E5%95%8F%E9%A1%8C\" title=\"DeFi\uff08\u5206\u6563\u5f0f\u91d1\u878d\uff09\u7684\u6cd5\u5f8b\u554f\u984c\">DeFi\uff08\u5206\u6563\u5f0f\u91d1\u878d\uff09\u7684\u6cd5\u5f8b\u554f\u984c<\/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-tw\/it\/defi-dex-regulations\/#%E9%97%9C%E6%96%BCLP%E4%BB%A3%E5%B9%A3%E7%9A%84%E6%B3%95%E5%BE%8B%E5%95%8F%E9%A1%8C\" title=\"\u95dc\u65bcLP\u4ee3\u5e63\u7684\u6cd5\u5f8b\u554f\u984c\">\u95dc\u65bcLP\u4ee3\u5e63\u7684\u6cd5\u5f8b\u554f\u984c<\/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-tw\/it\/defi-dex-regulations\/#%E9%97%9C%E6%96%BC%E6%B2%BB%E7%90%86%E4%BB%A3%E5%B9%A3%E7%9A%84%E6%B3%95%E5%BE%8B%E5%95%8F%E9%A1%8C\" title=\"\u95dc\u65bc\u6cbb\u7406\u4ee3\u5e63\u7684\u6cd5\u5f8b\u554f\u984c\">\u95dc\u65bc\u6cbb\u7406\u4ee3\u5e63\u7684\u6cd5\u5f8b\u554f\u984c<\/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-tw\/it\/defi-dex-regulations\/#%E9%97%9C%E6%96%BC%E5%8A%A0%E5%AF%86%E8%B3%87%E7%94%A2%EF%BC%88%E8%99%9B%E6%93%AC%E8%B2%A8%E5%B9%A3%EF%BC%89%E4%BA%A4%E6%98%93%E7%9A%84%E6%B3%95%E5%BE%8B%E5%95%8F%E9%A1%8C\" title=\"\u95dc\u65bc\u52a0\u5bc6\u8cc7\u7522\uff08\u865b\u64ec\u8ca8\u5e63\uff09\u4ea4\u6613\u7684\u6cd5\u5f8b\u554f\u984c\">\u95dc\u65bc\u52a0\u5bc6\u8cc7\u7522\uff08\u865b\u64ec\u8ca8\u5e63\uff09\u4ea4\u6613\u7684\u6cd5\u5f8b\u554f\u984c<\/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-tw\/it\/defi-dex-regulations\/#%E7%B8%BD%E7%B5%90%EF%BC%9A%E9%97%9C%E6%96%BC%E5%88%86%E6%95%A3%E5%9E%8B%E9%87%91%E8%9E%8D%EF%BC%88DeFi%EF%BC%89%E8%AB%8B%E8%AB%AE%E8%A9%A2%E5%BE%8B%E5%B8%AB\" title=\"\u7e3d\u7d50\uff1a\u95dc\u65bc\u5206\u6563\u578b\u91d1\u878d\uff08DeFi\uff09\u8acb\u8aee\u8a62\u5f8b\u5e2b\">\u7e3d\u7d50\uff1a\u95dc\u65bc\u5206\u6563\u578b\u91d1\u878d\uff08DeFi\uff09\u8acb\u8aee\u8a62\u5f8b\u5e2b<\/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-tw\/it\/defi-dex-regulations\/#%E7%94%B1%E6%9C%AC%E6%89%80%E4%BA%8B%E5%8B%99%E6%89%80%E6%8F%90%E4%BE%9B%E7%9A%84%E5%B0%8D%E7%AD%96%E4%BB%8B%E7%B4%B9\" title=\"\u7531\u672c\u6240\u4e8b\u52d9\u6240\u63d0\u4f9b\u7684\u5c0d\u7b56\u4ecb\u7d39\">\u7531\u672c\u6240\u4e8b\u52d9\u6240\u63d0\u4f9b\u7684\u5c0d\u7b56\u4ecb\u7d39<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%BD%95%E8%AC%82DeFi%EF%BC%88%E5%88%86%E6%95%A3%E5%9E%8B%E9%87%91%E8%9E%8D%EF%BC%89\"><\/span>\u4f55\u8b02DeFi\uff08\u5206\u6563\u578b\u91d1\u878d\uff09<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>DeFi\u662fDecentralized Finance\u7684\u9996\u5b57\u6bcd\u7e2e\u5beb\uff0c\u6307\u7684\u662f\u5229\u7528\u516c\u5171\u5340\u584a\u93c8\u6280\u8853\u7684\u5206\u6563\u578b\u91d1\u878d\u7cfb\u7d71\u3002\u5728DeFi\u4e2d\uff0c\u7121\u9700\u4f9d\u8cf4\u4e2d\u592e\u9280\u884c\u6216\u91d1\u878d\u6a5f\u69cb\uff0c\u53ef\u4ee5\u901a\u904e\u5340\u584a\u93c8\u6280\u8853\u5982\u667a\u80fd\u5408\u7d04\u7b49\uff0c\u9032\u884cP2P\u7684\u81ea\u4e3b\u91d1\u878d\u4ea4\u6613\u3002<\/p>\n\n\n\n<p>\u5c0d\u65bc&#8221;\u5206\u6563\u578b\u91d1\u878d&#8221;\u9019\u500b\u8a5e\uff0c\u672c\u6240\u6709\u6642\u6703\u5c07\u50b3\u7d71\u7684\u91d1\u878d\u6a5f\u69cb\u7a31\u70ba&#8221;\u4e2d\u592e\u96c6\u6b0a\u578b\u91d1\u878d&#8221;\u3002\u4e2d\u592e\u96c6\u6b0a\u578b\u91d1\u878d\u662fCentralized Finance\u7684\u9996\u5b57\u6bcd\u7e2e\u5beb\uff0c\u88ab\u7a31\u70baCeFi\u3002\u63db\u53e5\u8a71\u8aaa\uff0c\u4e2d\u592e\u9280\u884c\u8ca0\u8cac\u8ca8\u5e63\u7684\u767c\u884c\u548c\u7ba1\u7406\uff0c\u91d1\u878d\u6a5f\u69cb\u8ca0\u8cac\u4ea4\u6613\u7684\u7ba1\u7406\uff0c\u9019\u5c31\u662f\u91d1\u878d\u7684\u904b\u4f5c\u6a5f\u5236\u3002<\/p>\n\n\n\n<p>\u53c3\u8003\uff1a<a href=\"https:\/\/www.fsa.go.jp\/policy\/bgin\/information.html\" target=\"_blank\" rel=\"noreferrer noopener\">\u65e5\u672c\u91d1\u878d\u5ef3\uff5c\u95dc\u65bc\u5206\u6563\u578b\u91d1\u878d\u7684\u63aa\u65bd[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"DeFi%E8%88%87DEX%EF%BC%88%E5%88%86%E6%95%A3%E5%9E%8B%E4%BA%A4%E6%98%93%E6%89%80%EF%BC%89\"><\/span>DeFi\u8207DEX\uff08\u5206\u6563\u578b\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\u7a2e\u985e\" class=\"wp-image-57252\" \/><\/figure>\n\n\n\n<p>DeFi\u6709\u5e7e\u7a2e\u985e\u578b\u3002<\/p>\n\n\n\n<ul>\n<li>DEX<\/li>\n\n\n\n<li>\u501f\u8cb8<\/li>\n\n\n\n<li>\u4fdd\u96aa<\/li>\n\n\n\n<li>\u884d\u751f\u54c1\u9805\u76ee<\/li>\n<\/ul>\n\n\n\n<p>\u5728DeFi\u7684\u7a2e\u985e\u4e2d\uff0cDEX\u6b63\u5728\u5c55\u73fe\u5176\u64f4\u5f35\u3002<\/p>\n\n\n\n<p>DEX\u662fDecentralized Exchange\u7684\u9996\u5b57\u6bcd\u7e2e\u5beb\uff0c\u6307\u7684\u662f\u5206\u6563\u578b\u4ea4\u6613\u6240\u3002\u5728DEX\u4e2d\uff0c\u901a\u904e\u5340\u584a\u93c8\u6280\u8853\u548c\u667a\u80fd\u5408\u7d04\uff0c\u53ef\u4ee5\u9032\u884c\u52a0\u5bc6\u8cc7\u7522\uff08\u865b\u64ec\u8ca8\u5e63\uff09\u548c\u4ee3\u5e63\u7684\u4ea4\u6613\u3002\u667a\u80fd\u5408\u7d04\u662f\u4e00\u7a2e\u5728\u7279\u5b9a\u689d\u4ef6\u6eff\u8db3\u6642\uff0c\u81ea\u52d5\u9032\u884c\u9810\u5b9a\u64cd\u4f5c\u7684\u6a5f\u5236\u3002<\/p>\n\n\n\n<p>\u53e6\u4e00\u65b9\u9762\uff0c\u8207DEX\u4e0d\u540c\uff0c\u7531\u7ba1\u7406\u8005\u7ba1\u7406\u7684\u4e2d\u592e\u96c6\u6b0a\u578b\u4ea4\u6613\u6240\u88ab\u7a31\u70baCentralized Exchange\uff0c\u9996\u5b57\u6bcd\u7e2e\u5beb\u70baCEX\u3002CEX\u5df2\u7d93\u88ab\u5ee3\u6cdb\u904b\u71df\uff0c\u76ee\u524d\uff0cCEX\u6bd4DEX\u66f4\u70ba\u666e\u53ca\u3002<\/p>\n\n\n\n<p>\u5728DEX\u4e2d\uff0c\u901a\u904e\u667a\u80fd\u5408\u7d04\uff0c\u53ef\u4ee5\u81ea\u52d5\u9032\u884c\u52a0\u5bc6\u8cc7\u7522\uff08\u865b\u64ec\u8ca8\u5e63\uff09\u548c\u4ee3\u5e63\u7684\u4ea4\u6613\u3002DEX\u7684\u512a\u9ede\u662f\u53ef\u4ee5\u5feb\u901f\u9032\u884c\u4ea4\u6613\u3002<\/p>\n\n\n\n<p>\u6b64\u5916\uff0c\u7531\u65bc\u4f7f\u7528\u4e86\u667a\u80fd\u5408\u7d04\uff0c\u8207\u5b58\u5728\u7ba1\u7406\u8005\u7684CEX\u76f8\u6bd4\uff0c\u53ef\u4ee5\u964d\u4f4e\u4ea4\u6613\u624b\u7e8c\u8cbb\u7b49\u6210\u672c\uff0c\u9019\u662fDEX\u7684\u4e00\u500b\u512a\u9ede\u3002<\/p>\n\n\n\n<p>\u76f8\u95dc\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\u7d04\u662f\u4ec0\u9ebc\uff1f\u89e3\u91cb4\u500b\u7279\u9ede\u548c\u7f3a\u9ede[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%E5%95%8F%E9%A1%8C\"><\/span>DeFi\uff08\u5206\u6563\u5f0f\u91d1\u878d\uff09\u7684\u6cd5\u5f8b\u554f\u984c<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\u554f\u984c\" class=\"wp-image-57250\" \/><\/figure>\n\n\n\n<p>\u7531\u65bcDeFi\u662f\u4e00\u500b\u76f8\u5c0d\u8f03\u65b0\u7684\u6982\u5ff5\uff0c\u56e0\u6b64\u5b58\u5728\u8a31\u591a\u6cd5\u5f8b\u554f\u984c\u3002\u5728\u4e0b\u6587\u4e2d\uff0c\u672c\u6240\u5c07\u4ee5DEX\u70ba\u4f8b\uff0c\u4f86\u8aaa\u660eDeFi\u7684\u6cd5\u5f8b\u554f\u984c\u3002<\/p>\n\n\n\n<p>DeFi\u7684\u6cd5\u5f8b\u554f\u984c\u53ef\u4ee5\u5206\u70ba\u4ee5\u4e0b\u5e7e\u985e\uff1a<\/p>\n\n\n\n<ul>\n<li>\u95dc\u65bcLP\u4ee3\u5e63\u7684\u6cd5\u5f8b\u554f\u984c<\/li>\n\n\n\n<li>\u95dc\u65bc\u6cbb\u7406\u4ee3\u5e63\u7684\u6cd5\u5f8b\u554f\u984c<\/li>\n\n\n\n<li>\u95dc\u65bc\u52a0\u5bc6\u8cc7\u7522\uff08\u865b\u64ec\u8ca8\u5e63\uff09\u4ea4\u6613\u7684\u6cd5\u5f8b\u554f\u984c<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%97%9C%E6%96%BCLP%E4%BB%A3%E5%B9%A3%E7%9A%84%E6%B3%95%E5%BE%8B%E5%95%8F%E9%A1%8C\"><\/span>\u95dc\u65bcLP\u4ee3\u5e63\u7684\u6cd5\u5f8b\u554f\u984c<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>LP\u4ee3\u5e63\u662f\u6d41\u52d5\u6027\u63d0\u4f9b\u8005\uff08Liquidity Provider\uff09\u4ee3\u5e63\u7684\u7e2e\u5beb\u3002\u9019\u662f\u4e00\u7a2e\u5206\u914d\u7d66\u5c0dDEX\u7cfb\u7d71\u6709\u8ca2\u737b\u7684\u7528\u6236\u7684\u4ee3\u5e63\u3002\u5c0d\u65bcLP\u4ee3\u5e63\uff0c\u672c\u6240\u9700\u8981\u8003\u616e\u5176\u8207\u65e5\u672c\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u4e2d\u898f\u5b9a\u7684\u300c\u96c6\u9ad4\u6295\u8cc7\u8a08\u5283\u4efd\u984d\u300d\u548c\u300c\u96fb\u5b50\u8a18\u9304\u8f49\u79fb\u6b0a\u5229\u300d\u7684\u95dc\u4fc2\u3002<\/p>\n\n\n\n<p>\u5982\u65e5\u672c\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u7b2c2\u689d\u7b2c2\u9805\u7b2c5\u865f\u6240\u898f\u5b9a\uff0c\u5982\u679c\u7b26\u5408\u4ee5\u4e0b\u60c5\u6cc1\uff0c\u5247\u6703\u88ab\u8a8d\u70ba\u662f\u96c6\u9ad4\u6295\u8cc7\u8a08\u5283\uff1a<\/p>\n\n\n\n<ul>\n<li>\u6b0a\u5229\u64c1\u6709\u8005\u51fa\u8cc7\u6216\u6350\u737b\u91d1\u9322\u7b49<\/li>\n\n\n\n<li>\u7528\u6350\u737b\u7684\u91d1\u9322\u7b49\u4f86\u7d93\u71df\u696d\u52d9\uff08\u51fa\u8cc7\u76ee\u6a19\u696d\u52d9\uff09<\/li>\n\n\n\n<li>\u6b0a\u5229\u64c1\u6709\u8005\u6709\u6b0a\u5f9e\u51fa\u8cc7\u76ee\u6a19\u696d\u52d9\u7522\u751f\u7684\u6536\u76ca\u4e2d\u7372\u5f97\u5206\u914d\uff0c\u6216\u8005\u6709\u6b0a\u7372\u5f97\u8207\u8a72\u51fa\u8cc7\u76ee\u6a19\u696d\u52d9\u76f8\u95dc\u7684\u8ca1\u7522\u7684\u5206\u914d<\/li>\n<\/ul>\n\n\n\n<p>\u5c0d\u65bc\u96c6\u9ad4\u6295\u8cc7\u8a08\u5283\u4efd\u984d\uff0c\u4e00\u822c\u4f86\u8aaa\uff0c\u672c\u6240\u6703\u60f3\u5230\u7684\u662f\u57fa\u91d1\u7684\u4efd\u984d\uff0c\u4f46LP\u4ee3\u5e63\u4e5f\u53ef\u80fd\u88ab\u8a8d\u70ba\u662f\u96c6\u9ad4\u6295\u8cc7\u8a08\u5283\u3002\u5982\u679c\u88ab\u8a8d\u70ba\u662f\u96c6\u9ad4\u6295\u8cc7\u8a08\u5283\u4efd\u984d\uff0c\u5247\u5c07\u53d7\u5230\u65e5\u672c\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u7684\u898f\u7bc4\u3002<\/p>\n\n\n\n<p>\u6b64\u5916\uff0c\u96fb\u5b50\u8a18\u9304\u8f49\u79fb\u6b0a\u5229\u662f\u6307\u5c0d\u65bc\u64c1\u6709\u8005\u9032\u884c\u696d\u52d9\u6536\u76ca\u5206\u914d\u7684\u8a2d\u8a08\u4e2d\uff0c\u53ef\u4ee5\u4f7f\u7528\u96fb\u5b50\u4fe1\u606f\u8655\u7406\u7d44\u7e54\u9032\u884c\u8f49\u79fb\u7684\u8ca1\u7522\u50f9\u503c\u3002\u5982\u679cLP\u4ee3\u5e63\u7b26\u5408\u96fb\u5b50\u8a18\u9304\u8f49\u79fb\u6b0a\u5229\u7684\u689d\u4ef6\uff0c\u5247\u767c\u884cLP\u4ee3\u5e63\u9700\u8981\u9075\u5b88\u65e5\u672c\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\u4e2d\u7684\u8a3b\u518a\u3001\u62ab\u9732\u7fa9\u52d9\u7b49\u6cd5\u898f\u3002<\/p>\n\n\n\n<p>\u56e0\u6b64\uff0c\u767c\u884cLP\u4ee3\u5e63\u6642\uff0c\u9700\u8981\u8003\u616eLP\u4ee3\u5e63\u6240\u80fd\u7372\u5f97\u7684\u50f9\u503c\u8207\u96c6\u9ad4\u6295\u8cc7\u8a08\u5283\u4efd\u984d\u548c\u96fb\u5b50\u8a18\u9304\u8f49\u79fb\u6b0a\u5229\u662f\u5426\u76f8\u7b26\u3002<\/p>\n\n\n\n<p>\u95dc\u65bc\u96c6\u9ad4\u6295\u8cc7\u8a08\u5283\u4efd\u984d\u548c\u96fb\u5b50\u8a18\u9304\u8f49\u79fb\u6b0a\u5229\u7684\u8a73\u7d30\u89e3\u91cb\uff0c\u8acb\u53c3\u8003\u4ee5\u4e0b\u6587\u7ae0\u3002<\/p>\n\n\n\n<p>\u76f8\u95dc\u6587\u7ae0\uff1a<a href=\"https:\/\/monolith-law.jp\/corporate\/cryptoassets-regulation\" target=\"_blank\" rel=\"noreferrer noopener\">\u95dc\u65bc\u52a0\u5bc6\u8cc7\u7522\u7684\u898f\u7bc4\u662f\u4ec0\u9ebc\uff1f\u89e3\u91cb\u8cc7\u91d1\u6c7a\u6fdf\u6cd5\u548c\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u7684\u95dc\u4fc2[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%97%9C%E6%96%BC%E6%B2%BB%E7%90%86%E4%BB%A3%E5%B9%A3%E7%9A%84%E6%B3%95%E5%BE%8B%E5%95%8F%E9%A1%8C\"><\/span>\u95dc\u65bc\u6cbb\u7406\u4ee3\u5e63\u7684\u6cd5\u5f8b\u554f\u984c<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6cbb\u7406\u4ee3\u5e63\uff0c\u7c21\u55ae\u4f86\u8aaa\uff0c\u5c31\u662f\u64c1\u6709\u8005\u53ef\u4ee5\u53c3\u8207DEX\u7684\u5206\u6563\u5f0f\u5354\u8b70\u904b\u71df\u7684\u4ee3\u5e63\u3002\u64c1\u6709\u6cbb\u7406\u4ee3\u5e63\u53ef\u4ee5\u5f71\u97ff\u6cbb\u7406\u7cfb\u7d71\u672c\u8eab\u7684\u8b8a\u66f4\u7b49\u3002<\/p>\n\n\n\n<p>\u9019\u7a2e\u6cbb\u7406\u4ee3\u5e63\u5728\u8a31\u591a\u60c5\u6cc1\u4e0b\u90fd\u53ef\u4ee5\u8207\u5176\u4ed6\u52a0\u5bc6\u8cc7\u7522\uff08\u865b\u64ec\u8ca8\u5e63\uff09\u9032\u884c\u4ea4\u63db\uff0c\u800c\u5728\u9019\u7a2e\u60c5\u6cc1\u4e0b\uff0c\u6cbb\u7406\u4ee3\u5e63\u53ef\u80fd\u88ab\u8a8d\u70ba\u662f\u300c\u52a0\u5bc6\u8cc7\u7522\u300d\uff08\u65e5\u672c\u300a\u8cc7\u91d1\u6c7a\u6fdf\u6cd5\u300b\u7b2c2\u689d\u7b2c5\u9805\uff09\uff0c\u4e26\u4e14\u6cbb\u7406\u4ee3\u5e63\u7684\u767c\u884c\u53ef\u80fd\u88ab\u8a8d\u70ba\u662f\u300c\u52a0\u5bc6\u8cc7\u7522\u4ea4\u63db\u696d\u52d9\u300d\uff08\u65e5\u672c\u300a\u8cc7\u91d1\u6c7a\u6fdf\u6cd5\u300b\u7b2c2\u689d\u7b2c7\u9805\uff09\u3002<\/p>\n\n\n\n<p>\u5c0d\u65bc\u6cbb\u7406\u4ee3\u5e63\u7684\u767c\u884c\uff0c\u662f\u5426\u9700\u8981\u652f\u4ed8\u53d6\u5f97\u6cbb\u7406\u4ee3\u5e63\u7684\u5c0d\u50f9\u53ef\u80fd\u6703\u5f71\u97ff\u5176\u662f\u5426\u88ab\u8a8d\u70ba\u662f\u300c\u52a0\u5bc6\u8cc7\u7522\u4ea4\u63db\u696d\u52d9\u300d\uff08\u65e5\u672c\u300a\u8cc7\u91d1\u6c7a\u6fdf\u6cd5\u300b\u7b2c2\u689d\u7b2c7\u9805\uff09\u3002<\/p>\n\n\n\n<p>\u56e0\u6b64\uff0c\u767c\u884c\u6cbb\u7406\u4ee3\u5e63\u6642\uff0c\u9700\u8981\u8003\u616e\u53d6\u5f97\u6cbb\u7406\u4ee3\u5e63\u7684\u5c0d\u50f9\u8207\u52a0\u5bc6\u8cc7\u7522\u4ea4\u63db\u696d\u52d9\u662f\u5426\u76f8\u7b26\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%97%9C%E6%96%BC%E5%8A%A0%E5%AF%86%E8%B3%87%E7%94%A2%EF%BC%88%E8%99%9B%E6%93%AC%E8%B2%A8%E5%B9%A3%EF%BC%89%E4%BA%A4%E6%98%93%E7%9A%84%E6%B3%95%E5%BE%8B%E5%95%8F%E9%A1%8C\"><\/span>\u95dc\u65bc\u52a0\u5bc6\u8cc7\u7522\uff08\u865b\u64ec\u8ca8\u5e63\uff09\u4ea4\u6613\u7684\u6cd5\u5f8b\u554f\u984c<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=\"\u52a0\u5bc6\u8cc7\u7522\uff08\u865b\u64ec\u8ca8\u5e63\uff09\u4ea4\u6613\u7684\u6cd5\u5f8b\u554f\u984c\" class=\"wp-image-57247\" \/><\/figure>\n\n\n\n<p>\u5728DEX\u4e2d\uff0c\u6709\u4e9b\u662f\u901a\u904e\u52a0\u5bc6\u8cc7\u7522\u7684\u4ea4\u63db\u4f86\u7372\u5f97\u52a0\u5bc6\u8cc7\u7522\u7684\u3002\u5728\u9019\u7a2e\u60c5\u6cc1\u4e0b\uff0c\u53ef\u80fd\u6703\u88ab\u8a8d\u70ba\u662f\u300c\u52a0\u5bc6\u8cc7\u7522\u4ea4\u63db\u696d\u52d9\u300d\uff08\u65e5\u672c\u300a\u8cc7\u91d1\u6c7a\u6fdf\u6cd5\u300b\u7b2c2\u689d\u7b2c7\u9805\uff09\u3002<\/p>\n\n\n\n<p>\u7136\u800c\uff0c\u5982\u524d\u6240\u8ff0\uff0cDEX\u901a\u5e38\u63a1\u7528\u667a\u80fd\u5408\u7d04\u7684\u6a5f\u5236\u3002<\/p>\n\n\n\n<p>\u5982\u679c\u667a\u80fd\u5408\u7d04\u81ea\u52d5\u9032\u884c\u52a0\u5bc6\u8cc7\u7522\u7684\u4ea4\u63db\uff0c\u90a3\u9ebc\u5728DEX\u4e2d\uff0c\u7531\u65bc\u4e0d\u5b58\u5728\u9032\u884c\u52a0\u5bc6\u8cc7\u7522\u4ea4\u63db\u696d\u52d9\u7684\u4e3b\u9ad4\uff0c\u56e0\u6b64\uff0cDEX\u672c\u8eab\u53ef\u80fd\u4e0d\u6703\u6210\u70ba\u898f\u7bc4\u7684\u5c0d\u8c61\uff0c\u4e26\u4e14\u53ef\u80fd\u4e0d\u6703\u6210\u70ba\u65e5\u672c\u300a\u8cc7\u91d1\u6c7a\u6fdf\u6cd5\u300b\u7684\u898f\u7bc4\u5c0d\u8c61\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B8%BD%E7%B5%90%EF%BC%9A%E9%97%9C%E6%96%BC%E5%88%86%E6%95%A3%E5%9E%8B%E9%87%91%E8%9E%8D%EF%BC%88DeFi%EF%BC%89%E8%AB%8B%E8%AB%AE%E8%A9%A2%E5%BE%8B%E5%B8%AB\"><\/span>\u7e3d\u7d50\uff1a\u95dc\u65bc\u5206\u6563\u578b\u91d1\u878d\uff08DeFi\uff09\u8acb\u8aee\u8a62\u5f8b\u5e2b<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u5728\u9019\u88e1\uff0c\u672c\u6240\u5c0d\u5229\u7528\u5340\u584a\u93c8\u6280\u8853\u7684DeFi\u76f8\u95dc\u6cd5\u898f\u9032\u884c\u4e86\u8aaa\u660e\u3002\u95dc\u65bcDeFi\uff0c\u7531\u65bc\u767c\u884c\u7684\u4ee3\u5e63\u6027\u8cea\u4e0d\u540c\uff0c\u898f\u5b9a\u7684\u5167\u5bb9\u4e5f\u6703\u6709\u6240\u4e0d\u540c\uff0c\u56e0\u6b64\u9664\u4e86\u6cd5\u5f8b\u77e5\u8b58\u5916\uff0c\u9084\u9700\u8981\u5c0d\u5340\u584a\u93c8\u548c\u667a\u80fd\u5408\u7d04\u6709\u6240\u4e86\u89e3\u3002\u6b64\u5916\uff0c\u9019\u500b\u9818\u57df\u7684\u6cd5\u5f8b\u5236\u5ea6\u6b63\u5728\u9032\u884c\u4e2d\uff0c\u6cd5\u5f8b\u4fee\u8a02\u4e5f\u5728\u983b\u7e41\u9032\u884c\u3002<\/p>\n\n\n\n<p>\u672c\u6240\u5efa\u8b70\u60a8\u5c0d\u5229\u7528\u5340\u584a\u93c8\u6280\u8853\u7684\u5206\u6563\u578b\u91d1\u878d\u9032\u884c\u8aee\u8a62\uff0c\u8acb\u627e\u5177\u6709\u9019\u4e9b\u9818\u57df\u77e5\u8b58\u548c\u7d93\u9a57\u7684\u5f8b\u5e2b\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%94%B1%E6%9C%AC%E6%89%80%E4%BA%8B%E5%8B%99%E6%89%80%E6%8F%90%E4%BE%9B%E7%9A%84%E5%B0%8D%E7%AD%96%E4%BB%8B%E7%B4%B9\"><\/span>\u7531\u672c\u6240\u4e8b\u52d9\u6240\u63d0\u4f9b\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\u672c\u6240\u4e8b\u52d9\u6240\u63d0\u4f9b\u5168\u9762\u7684\u52a0\u5bc6\u8cc7\u7522\u548c\u5340\u584a\u93c8\u696d\u52d9\u652f\u63f4\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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