{"id":602745,"date":"2025-05-14T17:25:27","date_gmt":"2025-05-14T09:25:27","guid":{"rendered":"https:\/\/law.asia\/?p=602745"},"modified":"2025-08-20T10:39:54","modified_gmt":"2025-08-20T02:39:54","slug":"crypto-regulation-trends-hong-kong-japan-taiwan","status":"publish","type":"post","link":"https:\/\/law.asia\/zh-hans\/crypto-regulation-trends-hong-kong-japan-taiwan\/","title":{"rendered":"\u52a0\u5bc6\u8d27\u5e01\u76d1\u7ba1\u8d8b\u52bf"},"content":{"rendered":"<p style=\"text-align: justify;\"><span class=\"vantage-grey\"><strong>\u672c\u7cfb\u5217\u6587\u7ae0\u4ecb\u7ecd\u9999\u6e2f\u3001\u65e5\u672c\u548c\u53f0\u6e7e\u5982\u4f55\u901a\u8fc7\u5b8c\u5584\u76d1\u7ba1\u673a\u5236\uff0c\u52a0\u5f3a\u6d88\u8d39\u8005\u4fdd\u62a4\u548c\u5e02\u573a\u8bda\u4fe1\u6765\u63a8\u52a8\u52a0\u5bc6\u8d27\u5e01\u76f8\u5173\u8d44\u4ea7\u7684\u53d1\u5c55\u3002<\/strong><\/span><\/p>\n<div id=\"navigation\">\n<table style=\"margin-top: 0px; width: 100%; overflow: hidden;\">\n<tbody>\n<tr style=\"display: flex; flex-wrap: wrap;\">\n<td style=\"width: 25%; border-right: 2px solid #ffffff; text-align: center; display: flex; align-items: center; justify-content: center; flex: 1; background: linear-gradient(90deg,rgba(48, 42, 20, 1) 0%, rgba(203, 130, 27, 1) 47%, rgba(127, 147, 158, 1) 100%); border-top: 2px solid #fff; border-radius: 10px; box-shadow: 0px 4px 6px rgba(0, 0, 0, 0.1);\" valign=\"middle\">\n<p style=\"margin: 0; padding: 10px 0;\"><a href=\"https:\/\/law.asia\/zh-hans\/hong-kong-crypto-regulations-global-hub\/\"><span style=\"color: #67a3a3; font-size: clamp(.9rem, 2.5vw, 1.125rem);\"><span style=\"color: #f1f9fb; text-shadow: 1px 1px 2px #16151d;\"><b>\u9999\u6e2f<\/b><\/span><\/span><\/a><\/p>\n<\/td>\n<td style=\"width: 25%; border-right: 2px solid #ffffff; text-align: center; display: flex; align-items: center; justify-content: center; flex: 1; background: linear-gradient(90deg,rgba(48, 42, 20, 1) 0%, rgba(203, 130, 27, 1) 47%, rgba(127, 147, 158, 1) 100%); border-top: 2px solid #fff; border-radius: 10px; box-shadow: 0px 4px 6px rgba(0, 0, 0, 0.1);\" valign=\"middle\">\n<p style=\"margin: 0; padding: 10px 0;\"><a href=\"https:\/\/law.asia\/zh-hans\/japan-crypto-stablecoin-regulations-2025\/\"><span style=\"color: #ffffff; text-shadow: 1px 1px 2px #16151d;\"><b>\u65e5\u672c<\/b><\/span><\/a><\/p>\n<\/td>\n<td style=\"width: 25%; border-right: 2px solid #ffffff; text-align: center; display: flex; align-items: center; justify-content: center; flex: 1; background: linear-gradient(90deg,rgba(48, 42, 20, 1) 0%, rgba(203, 130, 27, 1) 47%, rgba(127, 147, 158, 1) 100%); border-top: 2px solid #fff; border-radius: 10px; box-shadow: 0px 4px 6px rgba(0, 0, 0, 0.1);\" valign=\"middle\">\n<p style=\"margin: 0; padding: 10px 0;\"><a href=\"https:\/\/law.asia\/zh-hans\/taiwan-crypto-regulations-challenges\/\"><span style=\"color: #ffffff; font-size: clamp(.9rem, 2.5vw, 1.125rem); text-shadow: 1px 1px 2px #16151d;\"><b>\u53f0\u6e7e<\/b><\/span><\/a><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"text-shadow: #cccccc 1px 1px 2px; text-align: justify;\"><span style=\"color: #ce7d08;\"><strong>\u9999\u6e2f\uff1a\u5f15\u9886\u5168\u7403\u52a0\u5bc6\u8d27\u5e01\u76d1\u7ba1\u53d1\u5c55<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\">\u5728\u5168\u7403\u5404\u4e3b\u8981\u6cd5\u57df\u7684\u52a0\u5bc6\u8d27\u5e01\u76d1\u7ba1\u4f53\u7cfb\u4f9d\u7136\u5904\u4e8e\u788e\u7247\u5316\u72b6\u6001\u4e4b\u9645\uff0c\u9999\u6e2f\u5df2\u6709\u660e\u786e\u7684\u76ee\u6807\uff1a\u5de9\u56fa\u5176\u4f5c\u4e3a\u5168\u7403\u521b\u65b0\u548c\u673a\u6784\u8d44\u672c\u90e8\u7f72\u7684\u9886\u5148\u6cd5\u57df\u7684\u5730\u4f4d\u3002\u7f8e\u56fd\u4ecd\u5728\u5e94\u5bf9\u76d1\u7ba1\u653f\u7b56\u7684\u8f6c\u5411\uff0c\u65b0\u52a0\u5761\u4e8b\u5b9e\u4e0a\u7981\u6b62\u4e86\u6563\u6237\u53c2\u4e0e\u52a0\u5bc6\u8d27\u5e01\u6295\u8d44\uff0c\u6b27\u76df\u5219\u901a\u8fc7\u300a\u52a0\u5bc6\u8d44\u4ea7\u5e02\u573a\u76d1\u7ba1\u6cd5\u300b\uff08MiCA\uff09\u63a8\u884c\u4e25\u683c\u7684\u53d1\u724c\u5236\u5ea6\uff0c\u800c\u9999\u6e2f\u5219\u5728\u5b9e\u65bd\u4e00\u5957\u7ecf\u8fc7\u7cbe\u5fc3\u8bbe\u8ba1\u3001\u5177\u6709\u5546\u4e1a\u53ef\u884c\u6027\u7684\u76d1\u7ba1\u6846\u67b6\uff0c\u5728\u4fdd\u62a4\u6295\u8d44\u8005\u7684\u540c\u65f6\uff0c\u5236\u5b9a\u524d\u77bb\u6027\u653f\u7b56\u4ee5\u4fc3\u8fdb\u521b\u65b0\u3002<\/p>\n<p style=\"text-align: justify;\">\u672c\u6587\u5c06\u6982\u8ff0\u9999\u6e2f\u7684\u76d1\u7ba1\u6846\u67b6\u3001\u7a0e\u6536\u5236\u5ea6\u548c\u666e\u901a\u6cd5\u4fdd\u969c\u5982\u4f55\u4e0e\u5176\u4ed6\u7ade\u4e89\u6027\u53f8\u6cd5\u7ba1\u8f96\u533a\u5f62\u6210\u5bf9\u6bd4\uff0c\u4e3a\u52a0\u5bc6\u8d27\u5e01\u4f01\u4e1a\u548c\u6295\u8d44\u8005\u521b\u9020\u7406\u60f3\u7684\u76ee\u7684\u5730\u3002\u5bf9\u4e8e\u90a3\u4e9b\u4f18\u5148\u8003\u8651\u957f\u671f\u7a33\u5b9a\u3001\u673a\u6784\u7ea7\u5408\u89c4\u4ee5\u53ca\u65e0\u7f1d\u63a5\u5165\u4e9a\u6d32\u8d44\u672c\u5e02\u573a\u7684\u53c2\u4e0e\u8005\u800c\u8a00\uff0c\u9999\u6e2f\u6709\u671b\u6210\u4e3a\u5168\u7403\u52a0\u5bc6\u8d27\u5e01\u4e2d\u5fc3\u7684\u6807\u6746\u3002<\/p>\n<h3 style=\"text-shadow: #cccccc 1px 1px 2px; text-align: justify;\"><span style=\"color: #ce7d08;\"><strong>\u660e\u786e\u7684\u76d1\u7ba1\u65b9\u5411<\/strong><\/span><\/h3>\n<figure id=\"attachment_586946\" aria-describedby=\"caption-attachment-586946\" style=\"width: 200px\" class=\"wp-caption alignright\"><img class=\"wp-image-586946 size-full\" src=\"https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/Bowie-Fung.jpg\" alt=\"Bowie Fung\" width=\"200\" height=\"250\" \/><figcaption id=\"caption-attachment-586946\" class=\"wp-caption-text\"><strong>\u51af\u5b9d\u4eea<\/strong><br \/>\u7ba1\u7406\u5408\u4f19\u4eba<br \/>\u9648\u51af\u5434\u5f8b\u5e08\u4e8b\u52a1\u6240<br \/>\u9999\u6e2f\u529e\u516c\u5ba4<br \/>\u7535\u8bdd: +852 2114 2195<br \/>\u90ae\u7bb1: <a href=\"mailto:bowie.fung@cfnlaw.com.hk\">bowie.fung@cfnlaw.com.hk<\/a><\/figcaption><\/figure>\n<p style=\"text-align: justify;\">\u8bc1\u76d1\u4f1a\u76d1\u7ba1\u4e0e\u5206\u7c7b\u3002\u4ee5\u539f\u5219\u4e3a\u57fa\u7840\u7684\u76d1\u7ba1\u65b9\u6cd5\u548c\u660e\u786e\u7684\u6570\u5b57\u8d44\u4ea7\u5206\u7c7b\u4f53\u7cfb\u662f\u9999\u6e2f\u52a0\u5bc6\u8d27\u5e01\u76d1\u7ba1\u7684\u72ec\u7279\u4e4b\u5904\u3002\u6839\u636e\u300a\u8bc1\u5238\u53ca\u671f\u8d27\u6761\u4f8b\u300b\uff08\u7b2c571\u7ae0\uff09\uff0c\u5177\u6709\u8bc1\u5238\u7279\u5f81\u7684\u4ee3\u5e01\uff08\u5982\u4f9d\u8d56\u7b2c\u4e09\u65b9\u52aa\u529b\u83b7\u5f97\u6295\u8d44\u56de\u62a5\u7684\u4ee3\u5e01\uff09\u5c06\u7eb3\u5165\u8bc1\u76d1\u4f1a\u73b0\u6709\u7684\u8bc1\u5238\u76d1\u7ba1\u4f53\u7cfb\u3002<\/p>\n<p style=\"text-align: justify;\">\u8fd9\u786e\u4fdd\u4e86\u8bc1\u5238\u578b\u4ee3\u5e01\u7684\u6cd5\u5f8b\u786e\u5b9a\u6027\uff0c\u4f7f\u8fd9\u4e9b\u8d44\u4ea7\u63a5\u53d7\u548c\u4f20\u7edf\u91d1\u878d\u5de5\u5177\u540c\u7b49\u4e25\u683c\u7684\u76d1\u7ba1\u3002\u7eaf\u7cb9\u7684\u5b9e\u7528\u578b\u4ee3\u5e01\u548c\u53bb\u4e2d\u5fc3\u5316\u52a0\u5bc6\u8d27\u5e01\uff08\u5982\u6bd4\u7279\u5e01\u548c\u4ee5\u592a\u574a\uff09\u5219\u88ab\u89c6\u4e3a\u865a\u62df\u5546\u54c1\uff0c\u53ea\u8981\u4e0d\u6d89\u53ca\u6b3a\u8bc8\u6216\u64cd\u7eb5\u884c\u4e3a\uff0c\u5373\u53ef\u514d\u4e8e\u8bc1\u5238\u76d1\u7ba1\u3002<\/p>\n<p style=\"text-align: justify;\">\u4e0e\u7f8e\u56fd\u548c\u6b27\u76df\u4e0d\u540c\uff0c\u9999\u6e2f\u91c7\u53d6\u4e8c\u5143\u5206\u5316\u7684\u65b9\u6cd5\uff0c\u5c06\u8bc1\u5238\u578b\u4ee3\u5e01\u4e0e\u5b9e\u7528\u578b\u6216\u5546\u54c1\u578b\u4ee3\u5e01\u533a\u5206\u5f00\u6765\uff0c\u907f\u514d\u4e86\u50cf\u7f8e\u56fd\u90a3\u6837\u56e0\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\uff08SEC\uff09\u7684Howey\u6d4b\u8bd5\u9002\u7528\u4e0d\u4e00\u81f4\u5e26\u6765\u7684\u76d1\u7ba1\u8fc7\u5ea6\u548c\u521b\u65b0\u53d7\u963b\u7b49\u95ee\u9898\u3002<\/p>\n<p style=\"text-align: justify;\">\u4e0eMiCA\u5728\u6b27\u76df\u8303\u56f4\u5185\u5bf9\u6240\u6709\u52a0\u5bc6\u8d44\u4ea7\u7c7b\u578b\u5b9e\u65bd\u7edf\u4e00\u724c\u7167\u8981\u6c42\uff08\u5373\u4e0d\u533a\u5206\u8bc1\u5238\u578b\u3001\u5b9e\u7528\u578b\u548c\u652f\u4ed8\u578b\u4ee3\u5e01\uff09\u4e0d\u540c\uff0c\u9999\u6e2f\u7684\u7ec6\u81f4\u5206\u7c7b\u786e\u4fdd\u53ea\u6709\u9ad8\u98ce\u9669\u6d3b\u52a8\u624d\u4f1a\u53d7\u5230\u4e25\u683c\u76d1\u7ba1\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>\u865a\u62df\u8d44\u4ea7\u670d\u52a1\u63d0\u4f9b\u5546\uff08VASP\uff09\u724c\u7167\u5236\u5ea6\u3002<\/strong>\u81ea2023\u5e746\u6708\u8d77\uff0c\u9999\u6e2f\u8981\u6c42\u4e2d\u5fc3\u5316\u865a\u62df\u8d44\u4ea7\u4ea4\u6613\u5e73\u53f0\u6839\u636e\u300a\u6253\u51fb\u6d17\u94b1\u53ca\u6050\u6016\u5206\u5b50\u8d44\u91d1\u7b79\u96c6\u6761\u4f8b\u300b\uff08\u7b2c615\u7ae0\uff09\u53d6\u5f97\u724c\u7167\u3002\u724c\u7167\u5236\u5ea6\u5efa\u7acb\u4e86\u4e00\u4e2a\u900f\u660e\u7684\u76d1\u7ba1\u6846\u67b6\uff0c\u52a0\u5f3a\u4fdd\u62a4\u6563\u6237\u6295\u8d44\u8005\uff0c\u540c\u65f6\u964d\u4f4e\u98ce\u9669\uff0c\u5177\u4f53\u8981\u6c42\u5305\u62ec\uff1a<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li style=\"text-align: justify;\">\u5065\u5168\u7684KYC\/AML\uff08\u4e86\u89e3\u4f60\u7684\u5ba2\u6237\/\u53cd\u6d17\u94b1\uff09\u673a\u5236\u3002\u4e0e\u53cd\u6d17\u94b1\u91d1\u878d\u884c\u52a8\u7279\u522b\u5de5\u4f5c\u7ec4\uff08FATF\uff09\u7684\u5efa\u8bae\u4e00\u6837\uff0c\u6301\u724c\u4ea4\u6613\u6240\u5fc5\u987b\u5b9e\u65bd\u5b9e\u540d\u9a8c\u8bc1\u3001\u4ea4\u6613\u76d1\u63a7\u548c\u53ef\u7591\u6d3b\u52a8\u62a5\u544a\uff1b<\/li>\n<li style=\"text-align: justify;\">\u50a8\u5907\u8bc1\u660e\u5ba1\u8ba1\u3002\u5728FTX\u66b4\u96f7\u540e\uff0c\u4e3a\u964d\u4f4e\u5bf9\u624b\u65b9\u98ce\u9669\uff0c\u8981\u6c42\u6bcf\u6708\u5bf9\u50a8\u5907\u6301\u6709\u60c5\u51b5\u8fdb\u884c\u6838\u67e5\uff0c\u786e\u4fdd\u900f\u660e\u5ea6\u548c\u507f\u4ed8\u80fd\u529b\uff1b<\/li>\n<li style=\"text-align: justify;\">\u5ba2\u6237\u8d44\u4ea7\u9694\u79bb\u3002\u9632\u6b62\u8d44\u91d1\u6df7\u540c\uff0c\u7c7b\u4f3c\u4e8e\u4f20\u7edf\u91d1\u878d\u7684\u6295\u8d44\u8005\u4fdd\u62a4\u63aa\u65bd\u3002<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">\u9999\u6e2f\u79ef\u6781\u7684\u76d1\u7ba1\u6001\u5ea6\u4e5f\u4e0e\u65b0\u52a0\u5761\u8c28\u614e\u7684\u76d1\u7ba1\u63aa\u65bd\u5f62\u6210\u5bf9\u6bd4\u3002\u76ee\u524d\uff0c\u65b0\u52a0\u5761\u8d27\u5e01\u7ba1\u7406\u5c40\u9650\u5236\u6563\u6237\u53c2\u4e0e\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\uff0c\u7981\u6b62\u52a0\u5bc6\u8d27\u5e01\u5e7f\u544a\u5ba3\u4f20\u3002\u800c\u9999\u6e2f\u5219\u5141\u8bb8\u6563\u6237\u53c2\u4e0e\u4ea4\u6613\uff0c\u4f46\u65bd\u4ee5\u4e25\u683c\u7684\u9002\u5f53\u6027\u5ba1\u67e5\u5728\u4fdd\u62a4\u6295\u8d44\u8005\u4e0e\u4fdd\u8bc1\u5e02\u573a\u53ef\u53ca\u6027\u4e4b\u95f4\u5b9e\u73b0\u4e86\u5e73\u8861\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>\u7a33\u5b9a\u5e01\u76d1\u7ba1\u3002<\/strong>\u9999\u6e2f\u4e13\u95e8\u9488\u5bf9\u6cd5\u5e01\u6302\u94a9\u7a33\u5b9a\u5e01\u7684\u76d1\u7ba1\u6761\u4f8b\u5373\u5c06\u751f\u5f0f\u5b9e\u65bd\uff0c\u6761\u4f8b\u8981\u6c42\u53d1\u884c\u4eba\u7ef4\u6301\u4e00\u6bd4\u4e00\u7684\u50a8\u5907\uff0c\u5b9a\u671f\u63a5\u53d7\u5ba1\u8ba1\uff0c\u5efa\u7acb\u8fd0\u8425\u900f\u660e\u5ea6\uff0c\u5e76\u83b7\u5f97\u91d1\u7ba1\u5c40\u7684\u6388\u6743\u3002<\/p>\n<p style=\"text-align: justify;\">\u8be5\u6761\u4f8b\u4f7f\u9999\u6e2f\u6210\u4e3a\u9996\u4e2a\u5bf9\u6cd5\u5e01\u7a33\u5b9a\u5e01\u5efa\u7acb\u5168\u9762\u76d1\u7ba1\u6846\u67b6\u7684\u4e3b\u8981\u56fd\u9645\u91d1\u878d\u4e2d\u5fc3\uff0c\u5c06\u6709\u6548\u907f\u514d\u5982TerraUSD\u4e8b\u4ef6\u66b4\u9732\u7684\u7cfb\u7edf\u6027\u98ce\u9669\u3002\u5065\u5168\u7684\u7a33\u5b9a\u5e01\u76d1\u7ba1\u6846\u67b6\u5c06\u6700\u5927\u7a0b\u5ea6\u51cf\u5c11\u76d1\u7ba1\u5957\u5229\u673a\u4f1a\uff0c\u4fc3\u8fdb\u5e02\u573a\u7a33\u5b9a\u3002<\/p>\n<h3 style=\"text-shadow: #cccccc 1px 1px 2px; text-align: justify;\"><span style=\"color: #ce7d08;\"><strong>\u7a0e\u52a1\u6548\u7387\u5e26\u6765\u6700\u4f73\u56de\u62a5<\/strong><\/span><\/h3>\n<figure id=\"attachment_586950\" aria-describedby=\"caption-attachment-586950\" style=\"width: 200px\" class=\"wp-caption alignright\"><img class=\"wp-image-586950 size-full\" src=\"https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/Yuan-Kai.jpg\" alt=\"Yuan Kai\" width=\"200\" height=\"250\" \/><figcaption id=\"caption-attachment-586950\" class=\"wp-caption-text\"><strong>\u8881\u51ef<\/strong><br \/>\u5f8b\u5e08<br \/>\u9648\u51af\u5434\u5f8b\u5e08\u4e8b\u52a1<br \/>\u9999\u6e2f\u529e\u516c\u5ba4<br \/>\u7535\u8bdd: +852 3468 7365<br \/>\u90ae\u7bb1: <a href=\"mailto:kaiyuan@cfnlaw.com.hk\">kaiyuan@cfnlaw.com.hk<\/a><\/figcaption><\/figure>\n<p style=\"text-align: justify;\">\u9999\u6e2f\u7684\u7a0e\u5236\u5c06\u7ee7\u7eed\u4e3a\u5e02\u573a\u53c2\u4e0e\u8005\u63d0\u4f9b\u65e0\u4e0e\u4f26\u6bd4\u7684\u4f18\u52bf\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>\u65e0\u8d44\u672c\u5229\u5f97\u7a0e\u3002<\/strong>\u4e0e\u7f8e\u56fd\uff0820%\u8054\u90a6\u7a0e\u7387\u53ca\u5dde\u7a0e\uff09\u3001\u82f1\u56fd\uff08\u6700\u9ad820%\uff09\u6216\u6fb3\u5927\u5229\u4e9a\uff08\u6700\u9ad845%\uff09\u4e0d\u540c\uff0c\u9999\u6e2f\u5bf9\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u7684\u8d44\u672c\u5229\u5f97\u4e0d\u5f81\u7a0e\u2014\u2014\u8fd9\u5bf9\u9ad8\u9891\u4ea4\u6613\u8005\u3001\u5bf9\u51b2\u57fa\u91d1\u548c\u98ce\u9669\u6295\u8d44\u8005\u6765\u8bf4\u662f\u91cd\u8981\u6fc0\u52b1\u653f\u7b56\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u65e0\u589e\u503c\u7a0e\/\u5546\u54c1\u53ca\u670d\u52a1\u7a0e\u3002<\/strong>\u6b27\u76df\u5c06\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u89c6\u4e3a\u5e94\u7a0e\u4f9b\u5e94\u670d\u52a1\uff0c\u63d0\u4f9b\u52a0\u5bc6\u76f8\u5173\u670d\u52a1\uff08\u5982\u4ea4\u6613\u548c\u6258\u7ba1\uff09\u7684\u4f01\u4e1a\u9700\u7f34\u7eb3\u589e\u503c\u7a0e\uff08\u901a\u5e38\u4e3a20%\uff0c\u4f46\u5404\u53f8\u6cd5\u7ba1\u8f96\u533a\u6709\u6240\u4e0d\u540c\uff09\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u9999\u6e2f\u5c06\u52a0\u5bc6\u8d27\u5e01\u5f52\u7c7b\u4e3a\u65e0\u5f62\u8d44\u4ea7\uff0c\u5b8c\u5168\u514d\u5f81\u9500\u552e\u7a0e\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>\u5177\u7ade\u4e89\u529b\u7684\u516c\u53f8\u7a0e\u3002<\/strong>\u9999\u6e2f\u91c7\u7528\u5c5e\u5730\u7a0e\u5236\uff0c\u53ea\u6709\u672c\u5730\u6765\u6e90\u7684\u5229\u6da6\u987b\u7f34\u7eb316.5%\u7684\u7a0e\u7387\uff0c\u4f4e\u4e8e\u65b0\u52a0\u5761\uff0817%\uff09\u3001\u7f8e\u56fd\uff0821%\u8054\u90a6\u7a0e\u7387\uff09\u548c\u6b27\u76df\uff08\u5e73\u574721.3%\uff09\u3002<\/p>\n<h3 style=\"text-shadow: #cccccc 1px 1px 2px; text-align: justify;\"><span style=\"color: #ce7d08;\"><strong>\u6295\u8d44\u8005\u4fdd\u969c<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><strong>\u666e\u901a\u6cd5\u4f53\u7cfb\u3002<\/strong>\u5728\u9999\u6e2f\uff0c\u5408\u540c\u6267\u884c\u6709\u53ef\u9884\u89c1\u6027\uff0c\u8fd9\u662f\u9999\u6e2f\u53f8\u6cd5\u4f53\u7cfb\u4e00\u76f4\u5907\u53d7\u8d5e\u8a89\u7684\u5176\u4e2d\u4e00\u4e2a\u539f\u56e0\u3002\u5728Mantra Dao Inc and Another v John Patrick Mullin and Others (2024)\u8fd9\u4e00\u5177\u6709\u91cc\u7a0b\u7891\u610f\u4e49\u7684\u5224\u51b3\u4e2d\uff0c\u9999\u6e2f\u9ad8\u7b49\u6cd5\u9662\u539f\u8bbc\u6cd5\u5ead\u5f3a\u5236\u4e00\u5bb6\u5728\u52a0\u5bc6\u8d27\u5e01\u9886\u57df\u8fd0\u8425\u7684\u53bb\u4e2d\u5fc3\u5316\u81ea\u6cbb\u7ec4\u7ec7\uff08DAO\uff09\u62ab\u9732\u5176\u8d22\u52a1\u8bb0\u5f55\u548c\u8d26\u7c3f\u3002\u8be5\u5224\u51b3\u5f3a\u8c03\u4e86\u4e24\u9879\u5173\u952e\u6cd5\u5f8b\u539f\u5219\uff1a<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li style=\"text-align: justify;\"><strong>\u52a0\u5bc6\u4e1a\u52a1\u7684\u8d22\u52a1\u900f\u660e\u5ea6\u3002<\/strong>\u6cd5\u9662\u786e\u8ba4\uff0c\u5373\u4f7f\u662f\u4ee5\u53bb\u4e2d\u5fc3\u5316\u5b9e\u4f53\u67b6\u6784\u8fd0\u8425\u7684\u52a0\u5bc6\u8d27\u5e01\u5e73\u53f0\uff0c\u4e5f\u5fc5\u987b\u6267\u884c\u6807\u51c6\u7684\u8d22\u52a1\u95ee\u8d23\u63aa\u65bd\uff1b<\/li>\n<li style=\"text-align: justify;\"><strong>DAO\u7684\u6cd5\u5f8b\u8d23\u4efb\u3002<\/strong>\u8be5\u5224\u51b3\u660e\u786e\uff0c\u5c3d\u7ba1DAO\u91c7\u7528\u65b0\u578b\u6cbb\u7406\u6a21\u5f0f\uff0c\u4f46\u5728\u53d1\u751f\u4e89\u8bae\u65f6\uff0cDAO\u5e76\u4e0d\u514d\u4e8e\u53f8\u6cd5\u76d1\u7763\u3002<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">\u8be5\u6848\u663e\u793a\u4e86\u9999\u6e2f\u5bf9\u65b0\u5174\u533a\u5757\u94fe\u5b9e\u4f53\u76d1\u7ba1\u7684\u5f39\u6027\u505a\u6cd5\u3002\u8be5\u5224\u51b3\u5df2\u5728\u540e\u7eed\u6d89\u53ca\u53bb\u4e2d\u5fc3\u5316\u5b9e\u4f53\u7684\u4e89\u8bae\u4e2d\u88ab\u4f5c\u4e3a\u6709\u8bf4\u670d\u529b\u7684\u5224\u4f8b\u5f15\u7528\u3002<\/p>\n<p style=\"text-align: justify;\">\u673a\u6784\u7ea7\u6258\u7ba1\u89c4\u5219\u3002\u4e3a\u4fdd\u969c\u6295\u8d44\u8005\u6743\u76ca\uff0c\u6301\u724cVASP\u987b\u9075\u5b88\u5168\u7403\u6700\u4e25\u683c\u7684\u6258\u7ba1\u8981\u6c42\uff0c\u5305\u62ec\u5bf998%\u7684\u5ba2\u6237\u8d44\u4ea7\u51b7\u5b58\u50a8\uff0c\u8058\u8bf7\u72ec\u7acb\u7b2c\u4e09\u65b9\u5ba1\u8ba1\u9a8c\u8bc1\u50a8\u5907\u5145\u8db3\u6027\uff0c\u4ee5\u53ca\u5c06\u5ba2\u6237\u8d44\u91d1\u4e0e\u516c\u53f8\u8d44\u91d1\u9694\u79bb\u3002<\/p>\n<p style=\"text-align: justify;\">\u8fd9\u4e0e\u5df4\u54c8\u9a6c\u7b49\u79bb\u5cb8\u53f8\u6cd5\u7ba1\u8f96\u533a\u5bbd\u677e\u7684\u6258\u7ba1\u89c4\u5219\u5f62\u6210\u9c9c\u660e\u5bf9\u6bd4\uff0c\u540e\u8005\u5bfc\u81f4\u4e862022\u5e74FTX\u7684\u5012\u95ed\uff0c\u9999\u6e2f\u7684\u76d1\u7ba1\u5236\u5ea6\u4ece\u7ed3\u6784\u4e0a\u675c\u7edd\u4e86\u7c7b\u4f3cFTX\u7684\u66b4\u96f7\u4e8b\u4ef6\u3002<\/p>\n<h3 style=\"text-shadow: #cccccc 1px 1px 2px; text-align: justify;\"><span style=\"color: #ce7d08;\"><strong>\u901a\u5f80\u4e2d\u56fd\u53ca\u4e9a\u6d32\u7684\u95e8\u6237<\/strong><\/span><\/h3>\n<figure id=\"attachment_586942\" aria-describedby=\"caption-attachment-586942\" style=\"width: 200px\" class=\"wp-caption alignright\"><img class=\"wp-image-586942 size-full\" src=\"https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/Amanda-Li.jpg\" alt=\"Amanda Li\" width=\"200\" height=\"250\" \/><figcaption id=\"caption-attachment-586942\" class=\"wp-caption-text\"><strong>\u674e\u9759\u6587<\/strong><br \/>\u5f8b\u5e08<br \/>\u9648\u51af\u5434\u5f8b\u5e08\u4e8b\u52a1\u6240<br \/>\u9999\u6e2f\u529e\u516c<br \/>\u7535\u8bdd<strong>:<\/strong> +852 2114 2208<br \/>\u90ae\u7bb1: <a href=\"mailto:amanda.li@cfnlaw.com.hk\">amanda.li@cfnlaw.com.hk<\/a><\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><strong>\u8fde\u901a\u4e2d\u56fd\u3002<\/strong>\u5c3d\u7ba1\u4e2d\u56fd\u5185\u5730\u4ecd\u7136\u7981\u6b62\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u548c\u6316\u77ff\uff0c\u4f46\u4e2d\u56fd\u8d44\u672c\u53ef\u901a\u8fc7\u5408\u683c\u5883\u5916\u673a\u6784\u6295\u8d44\u8005\u548c\u4e92\u8054\u4e92\u901a\u8ba1\u5212\u6d41\u51fa\uff0c\u9999\u6e2f\u53ef\u4f5c\u4e3a\u4e2d\u56fd\u8d44\u91d1\u6d41\u5165\u4ee5\u53ca\u5185\u5730\u8d44\u4ea7\u7ba1\u7406\u673a\u6784\u53c2\u4e0e\u4ea4\u6613\uff08\u4f8b\u5982\u534e\u590f\u57fa\u91d1\u63a8\u51fa\u7684\u6bd4\u7279\u5e01\u548c\u4ee5\u592a\u574a\u4ea4\u6613\u578b\u5f00\u653e\u5f0f\u6307\u6570\u57fa\u91d1\uff09\u7684\u5408\u89c4\u901a\u9053\u3002\u5728\u8fd9\u79cd\u53cc\u8f68\u4e0b\uff0c\u6709\u4e86\u9999\u6e2f\u8fd9\u4e2a\u95e8\u6237\uff0c\u4e2d\u56fd\u5728\u7ef4\u6301\u5185\u5730\u91d1\u878d\u7a33\u5b9a\u7684\u540c\u65f6\uff0c\u5141\u8bb8\u53d7\u63a7\u7684\u79bb\u5cb8\u655e\u53e3\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>\u8fdb\u5165\u4e1c\u76df\u5e02\u573a\u3002<\/strong>\u9999\u6e2f\u4e0e\u4e1c\u76df\u56fd\u5bb6\u7684\u81ea\u7531\u8d38\u6613\u534f\u5b9a\u4e3a\u91d1\u878d\u79d1\u6280\u548c\u52a0\u5bc6\u4f01\u4e1a\u8fdb\u5165\u9ad8\u589e\u957f\u5e02\u573a\u63d0\u4f9b\u4e86\u6218\u7565\u6027\u901a\u9053\u3002\u4e1c\u76df\u56fd\u5bb6\u8fd1\u5e74\u6765\u52a0\u5bc6\u8d27\u5e01\u53d1\u5c55\u84ec\u52c3\uff0c\u8d8a\u5357\u548c\u6cf0\u56fd\u5c31\u662f\u4e24\u4e2a\u5178\u578b\u7684\u4f8b\u5b50\u3002\u8d8a\u5357\u6570\u5b57\u7ecf\u6d4e\u53d1\u5c55\u8fc5\u731b\uff0c\u73b0\u62e5\u6709\u5168\u7403\u6700\u9ad8\u7684\u52a0\u5bc6\u8d27\u5e01\u91c7\u7528\u7387\u4e4b\u4e00\uff08\u9884\u8ba12025\u5e74\u4e3a30%\u81f340%\uff09\uff0c\u8fd9\u4e3a\u9999\u6e2f\u4f01\u4e1a\u63d0\u4f9b\u4e86\u80a5\u6c83\u7684\u571f\u58e4\u3002\u6cf0\u56fd\u7684\u52a0\u5bc6\u76d1\u7ba1\u4f53\u7cfb\u4e0d\u65ad\u5b8c\u5584\uff0c\u6bd4\u5982\u5176\u96f6\u552e\u592e\u884c\u6570\u5b57\u8d27\u5e01\u8bd5\u70b9\u8ba1\u5212\u4e3a\u9999\u6e2f\u91d1\u878d\u79d1\u6280\u4f01\u4e1a\u53c2\u4e0e\u8de8\u5883\u6570\u5b57\u8d27\u5e01\u6d4b\u8bd5\u521b\u9020\u4e86\u673a\u4f1a\u3002<\/p>\n<h3 style=\"text-shadow: #cccccc 1px 1px 2px; text-align: justify;\"><span style=\"color: #ce7d08;\"><strong>\u8d44\u4ea7\u6302\u94a9\u7a33\u5b9a\u5e01\u6709\u671b\u6210\u4e3a\u4e0b\u4e00\u4e2a\u76d1\u7ba1\u76ee\u6807\uff1f<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\">\u9999\u6e2f\u5df2\u7ecf\u4e3a\u6cd5\u5e01\u6302\u94a9\u7a33\u5b9a\u5e01\u5efa\u7acb\u4e86\u5168\u9762\u7684\u76d1\u7ba1\u4f53\u7cfb\uff0c\u90a3\u4e48\uff0c\u8d44\u4ea7\u6302\u94a9\u7a33\u5b9a\u5e01\u8fd8\u4f1a\u8fdc\u5417\uff1f\u9ec4\u91d1\u3001\u8d35\u91d1\u5c5e\u548c\u623f\u5730\u4ea7\u6302\u94a9\u4ee3\u5e01\u662f\u5426\u90fd\u6709\u53ef\u80fd\u7eb3\u5165\u76d1\u7ba1\u4f53\u7cfb\uff1f\u8fd9\u5c06\u4e3a\u91d1\u878d\u79d1\u6280\u521d\u521b\u4f01\u4e1a\u521b\u9020\u5b9d\u8d35\u7684\u8bd5\u9a8c\u5e73\u53f0\u3002\u5b9e\u884c\u666e\u901a\u6cd5\u4f53\u7cfb\u7684\u9999\u6e2f\uff0c\u52a0\u4e0a\u79ef\u6781\u7684\u76d1\u7ba1\u6001\u5ea6\uff0c\u5b8c\u5168\u5177\u5907\u5c06\u76d1\u7ba1\u8303\u56f4\u6269\u5c55\u81f3\u5546\u54c1\u6302\u94a9\u7a33\u5b9a\u5e01\u7684\u6761\u4ef6\u3002\u9999\u6e2f\u62e5\u6709\u5f3a\u5927\u7684\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\uff0c\u6709\u4e2d\u56fd\u5185\u5730\u7684\u52a9\u529b\uff0c\u5728\u6cd5\u5e01\u6302\u94a9\u7a33\u5b9a\u5e01\u6761\u4f8b\u5168\u9762\u5b9e\u65bd\u540e\uff0c\u9999\u6e2f\u6781\u6709\u53ef\u80fd\u51fa\u53f0\u9488\u5bf9\u5546\u54c1\u6302\u94a9\u4ee3\u5e01\u7684\u76d1\u7ba1\u5236\u5ea6\u3002<\/p>\n<h3 style=\"text-shadow: #cccccc 1px 1px 2px; text-align: justify;\"><span style=\"color: #ce7d08;\"><strong>\u79ef\u6781\u63a8\u52a8\u91d1\u878d\u79d1\u6280\u53d1\u5c55<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\">\u9999\u6e2f\u7279\u533a\u653f\u5e9c\u9891\u9891\u51fa\u53f0\u6218\u7565\u4e3e\u63aa\uff0c\u76d1\u7ba1\u7075\u6d3b\u6709\u5f39\u6027\uff0c\u63a8\u52a8\u91d1\u878d\u79d1\u6280\u521b\u65b0\u7684\u51b3\u5fc3\u663e\u800c\u6613\u89c1\u3002\u91d1\u7ba1\u5c40\u7684\u201c\u91d1\u878d\u79d1\u62802025\u201d\u7b56\u7565\u662f\u5176\u4e2d\u4e00\u4e2a\u91cd\u78c5\u4e3e\u63aa\uff0c\u5b83\u7740\u91cd\u63a8\u52a8\u533a\u5757\u94fe\u8de8\u5883\u7ed3\u7b97\u7684\u4e92\u64cd\u4f5c\u6027\uff0c\u5e76\u63a8\u8fdb\u96f6\u552e\u592e\u884c\u6570\u5b57\u8d27\u5e01\u7684\u53d1\u5c55\u3002<\/p>\n<p style=\"text-align: justify;\">\u4e3a\u8fdb\u4e00\u6b65\u652f\u6301\u5b9e\u73b0\u9999\u6e2f\u7684\u613f\u666f\uff0c\u91d1\u7ba1\u5c40\u5efa\u7acb\u76d1\u7ba1\u6c99\u76d2\uff0c\u4e3a\u91d1\u878d\u79d1\u6280\u4f01\u4e1a\u8bd5\u9a8c\u4ee3\u5e01\u5316\u8bc1\u5238\u548c\u57fa\u4e8e\u533a\u5757\u94fe\u7684\u652f\u4ed8\u89e3\u51b3\u65b9\u6848\u63d0\u4f9b\u4e86\u53d7\u63a7\u73af\u5883\u3002\u6240\u6709\u8fd9\u4e9b\u63aa\u65bd\u65e0\u4e00\u4e0d\u51f8\u663e\u51fa\u9999\u6e2f\u9002\u5e94\u4e0d\u65ad\u53d8\u5316\u7684\u91d1\u878d\u79d1\u6280\u683c\u5c40\u3001\u4fdd\u6301\u7ade\u4e89\u4f18\u52bf\u7684\u79ef\u6781\u6001\u5ea6\u3002<\/p>\n<p style=\"text-align: justify;\">\u6e05\u6670\u7684\u76d1\u7ba1\u4f53\u7cfb\u3001\u4e2d\u7acb\u7684\u7a0e\u6536\u5236\u5ea6\u3001\u666e\u901a\u6cd5\u7684\u53ef\u6267\u884c\u6027\u548c\u6bd7\u90bb\u4e2d\u56fd\u5185\u5730\u5e26\u6765\u7684\u6d41\u52a8\u6027\uff0c\u6210\u5c31\u4e86\u9999\u6e2f\u7684\u5de8\u5927\u4f18\u52bf\u3002\u968f\u7740VASP\u724c\u7167\u7533\u8bf7\u4e95\u55b7\uff0c\u65b0\u7684\u7a33\u5b9a\u5e01\u76d1\u7ba1\u4f53\u7cfb\u7a33\u6b65\u5b9e\u65bd\uff0c\u672a\u6765\u53ef\u9884\u89c1\u4ee5\u4e0b\u8d8b\u52bf\uff1a<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li style=\"text-align: justify;\">\u521d\u521b\u4f01\u4e1a\u8058\u8bf7\u6cd5\u5f8b\u987e\u95ee\uff0c\u534f\u52a9\u529e\u7406VASP\u53ca\u7a33\u5b9a\u5e01\u53d1\u884c\u4eba\u724c\u7167\u5ba1\u6279\u7a0b\u5e8f\uff1b<\/li>\n<li style=\"text-align: justify;\">\u57fa\u91d1\u5229\u7528\u9999\u6e2f\u6709\u9650\u5408\u4f19\u57fa\u91d1\u5236\u5ea6\u8fdb\u884c\u7a0e\u52a1\u9ad8\u6548\u67b6\u6784\u8bbe\u8ba1\uff1b<\/li>\n<li style=\"text-align: justify;\">\u6295\u8d44\u8005\u901a\u8fc7\u6295\u8d44\u9999\u6e2f\u8bc1\u76d1\u4f1a\u6279\u51c6\u7684\u52a0\u5bc6\u57fa\u91d1\uff0c\u83b7\u5f97\u53d7\u76d1\u7ba1\u7684\u52a0\u5bc6\u8d44\u4ea7\u655e\u53e3\u3002<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<section class=\"format-info\" style=\"text-align: center;\"><strong><img class=\"size-medium wp-image-586926 align-center aligncenter\" src=\"https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/CFN_logo-300x74.png\" alt=\"\" width=\"300\" height=\"74\" srcset=\"https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/CFN_logo-300x74.png 300w, https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/CFN_logo-1024x254.png 1024w, https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/CFN_logo-768x191.png 768w, https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/CFN_logo-696x173.png 696w, https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/CFN_logo-1068x265.png 1068w, https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/CFN_logo.png 1128w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>\u9648\u51af\u5434\u5f8b\u5e08\u4e8b\u52a1\u6240<\/strong><br \/>\n\u9999\u6e2f\u6e7e\u4ed4\u544a\u58eb\u6253\u9053128\u53f7\u7965\u4e30\u5927\u53a627\u697c<br \/>\n\u7535\u8bdd: +852 2114 2208<br \/>\n\u90ae\u7bb1: <a href=\"mailto:cfn@cfnlaw.com.hk\">cfn@cfnlaw.com.hk<\/a><br \/>\n<a href=\"http:\/\/www.cfnlaw.com\">www.cfnlaw.com<\/a><\/section>\n<\/div>\n<p style=\"text-align: right;\"><a style=\"text-decoration: none;\" href=\"#navigation\"><button style=\"width: 20%; font-size: 12px; letter-spacing: 1px; padding: 3px 3px; color: #000000; border-color: #F4F4F4; background-color: #e96526; background-image: linear-gradient(90deg,rgba(48, 42, 20, 1) 0%, rgba(203, 130, 27, 1) 47%, rgba(127, 147, 158, 1) 100%); background-repeat: repeat-x; border-radius: 3px; a: hover{background-color:#035389;\"><span style=\"color: #ffffff; font-weight: bold; text-transform: uppercase; text-shadow: 1px 1px 2px #16151d;\"><span class=\"color: #fffff; text-shadow: 1px 1px 2px #16151d;\">\u8fd4\u56de\u9876\u90e8<\/span><\/span><\/button><\/a><\/p>\n<hr \/>\n<h2 style=\"text-align: justify;\"><span style=\"color: #ce7d08; text-shadow: 1px 1px 2px #cccccc;\"><strong>\u65e5\u672c\u52a0\u5bc6\u8d44\u4ea7\u3001\u7a33\u5b9a\u5e01\u4e0e\u8bc1\u5238\u578b\u4ee3\u5e01\u76d1\u7ba1<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\">\u672c\u6587\u6982\u8ff0\u65e5\u672c\u56fd\u5185\u52a0\u5bc6\u8d44\u4ea7\u4e0e\u7a33\u5b9a\u5e01\u5e02\u573a\u7684\u6700\u65b0\u8d8b\u52bf\uff0c\u8be6\u7ec6\u4ecb\u7ecd\u4eca\u5e74\u300a\u652f\u4ed8\u670d\u52a1\u6cd5\u300b\u7684\u91cd\u5927\u4fee\u8ba2\uff0c\u63a2\u8ba8\u52a0\u5bc6\u8d44\u4ea7\u6cd5\u5f8b\u53ca\u7a0e\u6536\u6846\u67b6\u7684\u6301\u7eed\u6f14\u53d8\uff0c\u5305\u62ec\u8fd1\u671f\u6709\u5173\u4ee3\u5e01\u5316\u623f\u5730\u4ea7\u6743\u76ca\u53ca\u6295\u8d44\u57fa\u91d1\u76d1\u7ba1\u7684\u7acb\u6cd5\u53d8\u52a8\u3002<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #ce7d08; text-shadow: 1px 1px 2px #cccccc;\"><strong>\u52a0\u5bc6\u8d44\u4ea7\u4e0e\u7a33\u5b9a\u5e01\u5e02\u573a\u8d8b\u52bf<\/strong><\/span><\/h3>\n<figure id=\"attachment_586960\" aria-describedby=\"caption-attachment-586960\" style=\"width: 200px\" class=\"wp-caption alignright\"><img class=\"wp-image-586960 size-full\" src=\"https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/Takafumi-Ochiai.jpg\" alt=\"Takafumi Ochiai\" width=\"200\" height=\"250\" \/><figcaption id=\"caption-attachment-586960\" class=\"wp-caption-text\"><strong>\u843d\u5408\u5b5d\u6587<\/strong><br \/>\u8d44\u6df1\u5408\u4f19\u4eba<br \/>\u6e25\u7f8e\u5742\u4e95\u6cd5\u5f8b\u4e8b\u52a1\u6240<br \/>\u4e1c\u4eac\u529e\u516c\u5ba4<br \/>\u7535\u8bdd: +81-3-5501-2361<br \/>\u90ae\u7bb1: <a href=\"mailto:takafumi.ochiai@aplaw.jp\">takafumi.ochiai@aplaw.jp<\/a><\/figcaption><\/figure>\n<p style=\"text-align: justify;\">\u65e5\u672c\u56fd\u5185\u52a0\u5bc6\u8d44\u4ea7\u5e02\u573a\u6301\u7eed\u5448\u73b0\u6269\u5f20\u6001\u52bf\u3002\u6839\u636e\u65e5\u672c\u865a\u62df\u4e0e\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u6240\u534f\u4f1a\u7684\u6570\u636e\uff0c\u622a\u81f32025\u5e744\u670830\u65e5\uff0c\u5df2\u6ce8\u518c\u7684\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u4e1a\u52a1\u63d0\u4f9b\u5546\u6570\u91cf\u8fbe\u523032\u5bb6\u3002\u622a\u81f32025\u5e742\u6708\uff0c\u73b0\u8d27\u4ea4\u6613\u91cf\u7ea6\u4e3a1.9\u4e07\u4ebf\u65e5\u5143\uff08131\u4ebf\u7f8e\u5143\uff09\uff0c\u4fdd\u8bc1\u91d1\u4ea4\u6613\u91cf\u7ea6\u4e3a1.5\u4e07\u4ebf\u65e5\u5143\u3002<\/p>\n<p style=\"text-align: justify;\">\u622a\u81f32025\u5e741\u6708\u5e95\uff0c\u8fd9\u4e9b\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u4e1a\u52a1\u63d0\u4f9b\u5546\u7d2f\u8ba1\u5f00\u6237\u6570\u5df2\u8d85\u8fc71200\u4e07\uff0c\u603b\u5ba2\u6237\u5b58\u6b3e\u4f59\u989d\u7a81\u78345\u4e07\u4ebf\u65e5\u5143\u3002\u91d1\u878d\u5385\u9488\u5bf9\u6295\u8d44\u8005\u6001\u5ea6\u7684\u8c03\u67e5\u663e\u793a\uff0c\u62e5\u6709\u6295\u8d44\u7ecf\u9a8c\u7684\u65e5\u672c\u4e2a\u4eba\u6295\u8d44\u8005\u4e2d\uff0c7.3%\u6301\u6709\u52a0\u5bc6\u8d44\u4ea7\uff0c\u8fd9\u4e00\u6bd4\u4f8b\u9ad8\u4e8e\u6301\u6709\u5916\u6c47\u4ea4\u6613\u6216\u516c\u53f8\u503a\u5238\u5934\u5bf8\u7684\u6295\u8d44\u8005\u3002<\/p>\n<p style=\"text-align: justify;\">\u5728\u7a33\u5b9a\u5e01\u9886\u57df\uff0c\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u516c\u53f8SBI VC Trade\u4e8e2025\u5e744\u6708\u5f00\u59cb\u652f\u6301\u7f8e\u5143\u951a\u5b9a\u7a33\u5b9a\u5e01USDC\u3002\u591a\u5bb6\u8d44\u91d1\u8f6c\u79fb\u670d\u52a1\u63d0\u4f9b\u5546\u6b63\u5728\u63a2\u7d22\u5728\u73b0\u6709\u8d44\u91d1\u8f6c\u79fb\u670d\u52a1\u724c\u7167\u7684\u8425\u4e1a\u8303\u56f4\u5185\u53d1\u884c\u65e5\u5143\u951a\u5b9a\u7a33\u5b9a\u5e01\u7684\u53ef\u80fd\u6027\u3002\u65e5\u5143\u6570\u5b57\u8d27\u5e01DCJPY\u4f5c\u4e3a\u94f6\u884c\u5b58\u6b3e\u4ee3\u5e01\u5316\u7cfb\u7edf\u7684\u5e94\u7528\u4e5f\u5728\u4e0d\u65ad\u63a8\u8fdb\uff0cGMO\u9752\u7a7a\u7f51\u7edc\u94f6\u884c\u5df2\u53d1\u884c\uff0c\u5176\u4ed6\u591a\u4e2a\u5927\u578b\u94f6\u884c\u53ca\u7f51\u7edc\u94f6\u884c\u7684\u9879\u76ee\u4ea6\u5728\u8fdb\u884c\u4e2d\u3002<\/p>\n<p style=\"text-align: justify;\">\u5c3d\u7ba1\u5e02\u573a\u6301\u7eed\u589e\u957f\uff0c\u91cd\u5927\u6311\u6218\u4f9d\u7136\u5b58\u5728\u3002\u67d0\u56fd\u5185\u4e3b\u8981\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u4e1a\u52a1\u63d0\u4f9b\u5546\u66fe\u906d\u9047\u5927\u89c4\u6a21\u9ed1\u5ba2\u653b\u51fb\uff0c\u5bfc\u81f4\u4ef7\u503c\u7ea63.05\u4ebf\u7f8e\u5143\u7684\u6bd4\u7279\u5e01\u5916\u6d41\uff0c\u51f8\u663e\u4e86\u52a0\u5f3a\u5ba2\u6237\u8d44\u4ea7\u4fdd\u62a4\u63aa\u65bd\u7684\u91cd\u8981\u6027\u3002<\/p>\n<p style=\"text-align: justify;\">\u6b64\u5916\uff0c\u52a0\u5bc6\u8d44\u4ea7\u6295\u8d44\u7ba1\u7406\u4e0e\u54a8\u8be2\u4e0d\u5f53\u884c\u4e3a\uff0c\u4ee5\u53ca\u672a\u6ce8\u518c\u7ecf\u8425\u8005\u7684\u975e\u6cd5\u62db\u63fd\u6d3b\u52a8\u4e5f\u5f15\u53d1\u62c5\u5fe7\u3002\u63d0\u5347\u7528\u6237\u4fdd\u62a4\u673a\u5236\u3001\u52a0\u5f3a\u5bf9\u672a\u6ce8\u518c\u4f01\u52a1\u7684\u5a01\u6151\u529b\u4ea6\u88ab\u8ba4\u4e3a\u662f\u5f53\u52a1\u4e4b\u6025\u3002<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #ce7d08; text-shadow: 1px 1px 2px #cccccc;\"><strong>\u300a\u652f\u4ed8\u670d\u52a1\u6cd5\u300b\u4fee\u8ba2\u8981\u70b9<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\"><strong>\u300a\u652f\u4ed8\u670d\u52a1\u6cd5\u300b\u5173\u4e8e\u52a0\u5bc6\u8d44\u4ea7\u4e0e\u7a33\u5b9a\u5e01\u7684\u4fee\u8ba2\u4e3b\u8981\u5305\u62ec\uff1a<\/strong><\/p>\n<figure id=\"attachment_586968\" aria-describedby=\"caption-attachment-586968\" style=\"width: 200px\" class=\"wp-caption alignright\"><img class=\"wp-image-586968 size-full\" src=\"https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/Kenichi-Tanizaki.jpg\" alt=\"Kenichi Tanizaki\" width=\"200\" height=\"250\" \/><figcaption id=\"caption-attachment-586968\" class=\"wp-caption-text\"><strong>Kenichi Tanizaki<\/strong><br \/>\u8d44\u6df1\u5408\u4f19\u4eba<br \/>\u6e25\u7f8e\u5742\u4e95\u6cd5\u5f8b\u4e8b\u52a1\u6240<br \/>\u4e1c\u4eac\u529e\u516c\u5ba4<br \/>\u7535\u8bdd: +81-3-5501-1140<br \/>\u90ae\u7bb1: <a href=\"mailto:kenichi.tanizaki@aplaw.jp\">kenichi.tanizaki@aplaw.jp<\/a><\/figcaption><\/figure>\n<ol>\n<li style=\"text-align: justify;\"><strong>\u653e\u5bbd\u4fe1\u6258\u578b\u7a33\u5b9a\u5e01\uff08\u7535\u5b50\u652f\u4ed8\u624b\u6bb5\uff09\u7684\u51c6\u5907\u91d1\u8981\u6c42<\/strong>\u3002\u73b0\u884c\u89c4\u5b9a\u8981\u6c42\u4fe1\u6258\u578b\u7a33\u5b9a\u5e01\uff08\u6cd5\u5f8b\u4e0a\u5b9a\u4e49\u4e3a\u201c\u7535\u5b50\u652f\u4ed8\u624b\u6bb5\u201d\uff09\u53d1\u884c\u4eba\uff0c\u987b\u4ee5\u6d3b\u671f\u5b58\u6b3e\u53ca\/\u6216\u5176\u4ed6\u9ad8\u6d41\u52a8\u6027\u5de5\u5177\u5168\u989d\u5907\u4ed8\u53d1\u884c\u91d1\u989d\u3002\u4fee\u8ba2\u540e\uff0c\u5141\u8bb8\u53d1\u884c\u4eba\u5c06\u6700\u591a50%\u7684\u53d1\u884c\u91d1\u989d\u6295\u8d44\u4e8e\u672c\u91d1\u635f\u5931\u98ce\u9669\u6781\u4f4e\u7684\u4f4e\u98ce\u9669\u8d44\u4ea7\u3002\u5408\u683c\u8d44\u4ea7\u5305\u62ec\u5269\u4f59\u671f\u9650\u4e09\u4e2a\u6708\u4ee5\u5185\u7684\u65e5\u672c\u6216\u7f8e\u56fd\u56fd\u503a\uff0c\u6216\u53ef\u63d0\u524d\u89e3\u7ea6\u7684\u5b9a\u671f\u5b58\u6b3e\u3002\u6b64\u4e3e\u6709\u671b\u63d0\u5347\u7a33\u5b9a\u5e01\u53d1\u884c\u4eba\u7684\u8fd0\u8425\u6548\u7387\u4e0e\u56fd\u9645\u7ade\u4e89\u529b\u3002<\/li>\n<li style=\"text-align: justify;\"><strong>\u8bbe\u7acb\u201c\u7535\u5b50\u652f\u4ed8\u624b\u6bb5\/\u52a0\u5bc6\u8d44\u4ea7\u670d\u52a1\u4e2d\u4ecb\u201d\u65b0\u7c7b\u522b<\/strong>\u3002\u73b0\u884c\u6846\u67b6\u4e0b\uff0c\u5355\u7eaf\u4f5c\u4e3a\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u670d\u52a1\u63d0\u4f9b\u5546\u4e0e\u7528\u6237\u4e4b\u95f4\u7684\u4e2d\u4ecb\u7684\u5b9e\u4f53\uff0c\u987b\u9075\u5b88\u4e0e\u6210\u719f\u4ea4\u6613\u6240\u540c\u7b49\u4e25\u683c\u7684\u6ce8\u518c\u8981\u6c42\u3002\u4fee\u8ba2\u6848\u5c06\u4e0d\u6258\u7ba1\u5ba2\u6237\u8d44\u4ea7\u7684\u4e2d\u4ecb\u673a\u6784\u5212\u4e3a\u4e00\u4e2a\u72ec\u7acb\u7684\u7c7b\u522b\u3002\u8fd9\u7c7b\u4e2d\u4ecb\u4ec5\u4e13\u6ce8\u4e8e\u64ae\u5408\uff08\u5c45\u95f4\uff09\u4ea4\u6613\uff0c\u5c06\u6709\u610f\u4e70\u5356\u6216\u5151\u6362\u52a0\u5bc6\u8d44\u4ea7\u6216\u7535\u5b50\u652f\u4ed8\u624b\u6bb5\u7684\u7528\u6237\u4e0e\u5df2\u6ce8\u518c\u7684\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u670d\u52a1\u63d0\u4f9b\u5546\u6216\u7535\u5b50\u652f\u4ed8\u624b\u6bb5\u4ea4\u6613\u670d\u52a1\u63d0\u4f9b\u5546\u5bf9\u63a5\u3002\u7531\u4e8e\u4e0d\u6258\u7ba1\u5ba2\u6237\u8d44\u4ea7\uff0c\u8fd9\u4e9b\u4e2d\u4ecb\u514d\u4e8e\u5c65\u884c\u8d44\u672c\u5145\u8db3\u7387\u8981\u6c42\u3002\u53cd\u6d17\u94b1\u548c\u53cd\u6050\u6016\u878d\u8d44\u4e49\u52a1\u7531\u5176\u4e3b\u8981\u5408\u4f5c\u673a\u6784\u627f\u62c5\uff0c\u8fd9\u4e9b\u4e2d\u4ecb\u4e0d\u76f4\u63a5\u63a5\u53d7\u53cd\u6d17\u94b1\u548c\u53cd\u6050\u6016\u878d\u8d44\u76d1\u7ba1\u3002<\/li>\n<li style=\"text-align: justify;\"><strong>\u5f15\u5165\u5883\u5185\u8d44\u4ea7\u4fdd\u5168\u547d\u4ee4<\/strong>\u3002\u4e3a\u9632\u6b62\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u4e1a\u52a1\u63d0\u4f9b\u5546\u6216\u4ec5\u4ece\u4e8b\u73b0\u8d27\u4ea4\u6613\uff08\u975e\u884d\u751f\u54c1\uff09\u7684\u7535\u5b50\u652f\u4ed8\u624b\u6bb5\u670d\u52a1\u63d0\u4f9b\u5546\u7834\u4ea7\u65f6\u5ba2\u6237\u8d44\u4ea7\u8de8\u5883\u6d41\u51fa\uff0c\u4fee\u8ba2\u6848\u5f15\u5165\u4e86\u65b0\u7684\u6cd5\u5f8b\u673a\u5236\u3002\u76d1\u7ba1\u673a\u6784\u53ef\u4e0b\u4ee4\u8981\u6c42\u76f8\u5173\u63d0\u4f9b\u5546\u5c06\u8d44\u4ea7\u7559\u5b58\u4e8e\u65e5\u672c\u5883\u5185\u3002\u65e9\u57282022\u5e74FTX\u65e5\u672c\u5b50\u516c\u53f8 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class=\"wp-caption-text\"><strong>\u677e\u7530\u4e00\u661f<\/strong><br \/>\u5f8b\u5e08<br \/>\u6e25\u7f8e\u5742\u4e95\u6cd5\u5f8b\u4e8b\u52a1\u6240<br \/>\u4e1c\u4eac\u529e\u516c\u5ba4<br \/>\u7535\u8bdd: +81-3-5501-2188 <br \/>\u90ae\u7bb1: <a href=\"mailto:issei.matsuda@aplaw.jp\">issei.matsuda@aplaw.jp<\/a><\/figcaption><\/figure>\n<p style=\"text-align: justify;\">\u622a\u81f32025\u5e744\u6708\uff0c\u65e5\u672c\u8fd8\u5728\u79ef\u6781\u5b8c\u5584\u5176\u52a0\u5bc6\u8d44\u4ea7\u7684\u6cd5\u5f8b\u548c\u7a0e\u6536\u5236\u5ea6\u3002\u6267\u653f\u7684\u81ea\u6c11\u515aWeb3\u9879\u76ee\u56e2\u961f\uff08Web3PT\uff09\u5df2\u63d0\u4ea4\u4e00\u4efd\u8bae\u6848\uff0c\u4e3b\u5f20\u5c06\u52a0\u5bc6\u8d44\u4ea7\u7eb3\u5165\u300a\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6cd5\u300b\uff08FIEA\uff09\u9002\u7528\u8303\u56f4\uff0c\u4f5c\u4e3a\u72ec\u7acb\u7684\u4e00\u4e2a\u8d44\u4ea7\u7c7b\u522b\u3002<\/p>\n<p style=\"text-align: justify;\">\u8be5\u63d0\u6848\u7684\u6838\u5fc3\u5185\u5bb9\u4e4b\u4e00\u662f\u6539\u53d8\u52a0\u5bc6\u8d44\u4ea7\u6536\u76ca\u7684\u7a0e\u6536\u5f85\u9047\u3002\u73b0\u52a0\u5bc6\u8d44\u4ea7\u6536\u76ca\u901a\u5e38\u88ab\u5f52\u7c7b\u4e3a\u6742\u9879\u6240\u5f97\uff0c\u9002\u7528\u6700\u9ad8\u53ef\u8fbe55%\u7684\u7d2f\u8fdb\u7a0e\u7387\uff0c\u63d0\u6848\u5efa\u8bae\u5bf9\u8fd9\u7c7b\u6536\u76ca\u5f81\u6536\u5355\u72ec\u7684\u91d1\u878d\u6240\u5f97\u7a0e\uff0c\u7edf\u4e00\u9002\u752820%\u7684\u56fa\u5b9a\u7a0e\u7387\u3002\u7a0e\u6536\u6539\u9769\u63d0\u6848\u8fd8\u5305\u62ec\uff1a\u5c06\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u6240\u5f97\u7eb3\u5165\u5355\u72ec\u7533\u62a5\u7eb3\u7a0e\u7cfb\u7edf\uff0c\u5e76\u5f15\u5165\u4e8f\u635f\u7ed3\u8f6c\u673a\u5236\uff0c\u5141\u8bb8\u7eb3\u7a0e\u4eba\u7528\u4e8f\u635f\u62b5\u6263\u672a\u6765\u4e09\u5e74\u7684\u6536\u76ca\u3002<\/p>\n<p style=\"text-align: justify;\">\u91d1\u878d\u5385\u4e8e2025\u5e744\u6708\u53d1\u5e03\u9898\u4e3a\u300a\u52a0\u5bc6\u8d44\u4ea7\u76f8\u5173\u5236\u5ea6\u7684\u5ba1\u67e5\u300b\u7684\u6587\u4ef6\uff0c\u65e8\u5728\u5e73\u8861\u5e02\u573a\u521b\u65b0\u4e0e\u7528\u6237\u4fdd\u62a4\u3002\u6587\u4ef6\u7279\u522b\u63a2\u8ba8\u4e86\u6839\u636e\u52a0\u5bc6\u8d44\u4ea7\u7684\u529f\u80fd\u5bf9\u52a0\u5bc6\u8d44\u4ea7\u8fdb\u884c\u5206\u7c7b\uff0c\u5e76\u5efa\u7acb\u4e0e\u53d7FIEA\u89c4\u7ba1\u7684\u8bc1\u5238\u578b\u4ee3\u5e01\uff08ST\uff09\u76d1\u7ba1\u76f8\u534f\u8c03\u7684\u76d1\u7ba1\u4f53\u7cfb\u3002<\/p>\n<p style=\"text-align: justify;\">\u5173\u4e8e\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u6240\uff0c\u76ee\u524d\u7684\u89c2\u70b9\u8ba4\u4e3a\uff0c\u65e0\u592a\u5927\u5fc5\u8981\u5b9e\u884c\u7c7b\u4f3c\u4e8e\u4f20\u7edf\u91d1\u878d\u5546\u54c1\u4ea4\u6613\u6240\u724c\u7167\u5236\u5ea6\u7684\u76d1\u7ba1\u4f53\u7cfb\uff0c\u6216\u7c7b\u4f3c\u4e8e\u91d1\u878d\u5de5\u5177\u516c\u53f8\u81ea\u8425\u4ea4\u6613\u7cfb\u7edf\u9002\u7528\u89c4\u5219\u7684\u76d1\u7ba1\u3002<\/p>\n<p style=\"text-align: justify;\">\u4f46\u4e1a\u754c\u540c\u65f6\u4e5f\u8ba4\u8bc6\u5230\uff0c\u7531\u4e8e\u8fd9\u4e9b\u5e73\u53f0\u4e3a\u591a\u4e2a\u4ea4\u6613\u65b9\u4e4b\u95f4\u7684\u96c6\u4f53\u4ea4\u6613\u63d0\u4f9b\u4e86\u573a\u6240\uff0c\u9002\u5f53\u7684\u4ea4\u6613\u7ba1\u7406\u548c\u7cfb\u7edf\u5f00\u53d1\u662f\u672a\u6765\u9700\u8981\u8fdb\u4e00\u6b65\u63a2\u8ba8\u7684\u91cd\u8981\u8bfe\u9898\u3002<\/p>\n<p style=\"text-align: justify;\">\u52a0\u5bc6\u8d44\u4ea7ETF\u7684\u5f15\u5165\u4e5f\u5728\u52a0\u901f\u63a8\u8fdb\u3002\u6bd5\u9a6c\u5a01\u548cQUICK\u7684\u62a5\u544a\u5efa\u8bae\u5f00\u53d1\u4ee5\u65e5\u5143\u8ba1\u4ef7\u7684\u52a0\u5bc6\u8d44\u4ea7\u57fa\u51c6\uff0c\u5e76\u5efa\u7acbETF\u8bbe\u7acb\u6240\u9700\u7684\u6cd5\u5f8b\u548c\u76d1\u7ba1\u6846\u67b6\u3002\u9884\u8ba1\u672a\u6765\u7684\u7acb\u6cd5\u4fee\u8ba2\u5c06\u4e3a\u52a0\u5bc6\u8d44\u4ea7\u7684\u201c\u91d1\u878d\u4ea7\u54c1\u5316\u201d\u94fa\u5e73\u9053\u8def\u3002<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #ce7d08; text-shadow: 1px 1px 2px #cccccc;\"><strong>\u623f\u5730\u4ea7ST\u4e0e\u6709\u9650\u5408\u4f19\u6295\u8d44\u6cd5\uff08LPS\u6cd5\uff09<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\">\u91cd\u5927\u6cd5\u5f8b\u53d8\u9769\u540c\u6837\u5f71\u54cd\u4e86\u4ee3\u5e01\u5316\u8d44\u4ea7\u53ca\u6295\u8d44\u7ed3\u6784\u3002<\/p>\n<p style=\"text-align: justify;\">\uff081\uff09FIEA\u4e0b\u7684\u623f\u5730\u4ea7\u8bc1ST\u3002\u6839\u636e2024\u5e7411\u67081\u65e5\u751f\u6548\u7684FIEA\u4fee\u8ba2\uff0c\u57fa\u4e8e\u4ee3\u5e01\u5316\u623f\u5730\u4ea7\u7279\u5b9a\u5171\u540c\u4e8b\u4e1a\u534f\u8bae\uff08\u623f\u5730\u4ea7ST\uff09\u7684\u6743\u5229\u5df2\u7eb3\u5165FIEA\u76d1\u7ba1\u3002\u8fd9\u4e9b\u623f\u5730\u4ea7ST\u73b0\u88ab\u5f52\u7c7b\u4e3a\u201c\u4ee3\u8868\u4ee5\u7535\u5b50\u65b9\u5f0f\u8bb0\u5f55\u7684\u53ef\u8f6c\u8ba9\u8bc1\u5238\u7684\u6743\u5229\u201d\u53ca\u7c7b\u4f3c\u5de5\u5177\uff0c\u5728\u6cd5\u5f8b\u4e0a\u88ab\u89c6\u4e3aFIEA\u5b9a\u4e49\u7684\u8bc1\u5238\u3002<\/p>\n<p style=\"text-align: justify;\">\u8fd9\u4e00\u53d8\u5316\u610f\u5473\u7740\uff0c\u7ecf\u8425\u8fd9\u4e9b\u4ee3\u5e01\u5316\u5de5\u5177\u7684\u623f\u5730\u4ea7\u7279\u5b9a\u5171\u540c\u4e8b\u4e1a\u8fd0\u8425\u8005\uff08\u5373\u4f9d\u636e\u300a\u623f\u5730\u4ea7\u7279\u5b9a\u5171\u540c\u4e8b\u4e1a\u6cd5\u300b\u8fd0\u8425\u7684\u5b9e\u4f53\uff09\uff0c\u4e0d\u4ec5\u9700\u8981\u9075\u5b88\u300a\u623f\u5730\u4ea7\u7279\u5b9a\u5171\u540c\u4e8b\u4e1a\u6cd5\u300b\uff0c\u8fd8\u9700\u9075\u5b88FIEA\u53ca\u5176\u76f8\u5173\u6761\u4f8b\u3002<\/p>\n<p style=\"text-align: justify;\">\u5177\u4f53\u800c\u8a00\uff0c\u5982\u6b64\u7c7b\u8fd0\u8425\u8005\u81ea\u884c\u53d1\u884c\u6216\u79c1\u52df\u53d1\u884c\u623f\u5730\u4ea7ST\uff0c\u901a\u5e38\u9700\u6ce8\u518c\u4e3a\u7b2c\u4e8c\u7c7b\u91d1\u878d\u5de5\u5177\u4e1a\u52a1\u8fd0\u8425\u8005\uff0c\u6216\u6839\u636e\u5408\u683c\u673a\u6784\u6295\u8d44\u8005\u7b49\u7279\u522b\u8bb8\u53ef\u4e1a\u52a1\u6846\u67b6\u8fdb\u884c\u5907\u6848\u3002<\/p>\n<p style=\"text-align: justify;\">\uff082\uff09\u6709\u9650\u5408\u4f19\u6295\u8d44\u6cd5\uff08LPS\u6cd5\uff09\u4fee\u8ba2\u5141\u8bb8\u52a0\u5bc6\u8d44\u4ea7\u6295\u8d44\u3002LPS\u6cd5\u7684\u4fee\u8ba2\u4f7f\u6709\u9650\u5408\u4f19\u4f01\u4e1a\uff08LPS\uff09\u53ef\u4ee5\u6536\u8d2d\u548c\u6301\u6709\u52a0\u5bc6\u8d44\u4ea7\u3002\u6b64\u524d\uff0cLPS\u6cd5\u5bf9LPS\u7684\u5141\u8bb8\u4e1a\u52a1\u8303\u56f4\u6709\u4e25\u683c\u9650\u5b9a\uff0c\u4fee\u8ba2\u540e\u5df2\u5c06\u52a0\u5bc6\u8d44\u4ea7\u7eb3\u5165\u5176\u4e2d\u3002<\/p>\n<p style=\"text-align: justify;\">\u6cd5\u5f8b\u4fee\u8ba2\u540e\uff0c\u98ce\u6295\u8d44\u91d1\u53ef\u901a\u8fc7\u65e2\u6709LPS\u7ed3\u6784\u6295\u5411Web3\u76f8\u5173\u7684\u521d\u521b\u4f01\u4e1a\u53ca\u5176\u4ed6\u5229\u7528\u52a0\u5bc6\u8d44\u4ea7\u7ecf\u8425\u7684\u65b0\u5174\u4f01\u4e1a\u3002\u4f46\u987b\u6ce8\u610f\uff0c\u5e76\u975e\u6240\u6709\u7c7b\u578b\u7684\u52a0\u5bc6\u8d44\u4ea7\u90fd\u5fc5\u7136\u6210\u4e3a\u5408\u683c\u7684\u6295\u8d44\u6807\u7684\u3002<\/p>\n<section class=\"format-info\" style=\"text-align: center;\"><img class=\"size-medium wp-image-573006 aligncenter\" src=\"https:\/\/law.asia\/wp-content\/uploads\/2025\/03\/Atsumi-Sakai-Logo-300x109.jpg\" alt=\"\" width=\"300\" height=\"109\" srcset=\"https:\/\/law.asia\/wp-content\/uploads\/2025\/03\/Atsumi-Sakai-Logo-300x109.jpg 300w, https:\/\/law.asia\/wp-content\/uploads\/2025\/03\/Atsumi-Sakai-Logo-768x279.jpg 768w, https:\/\/law.asia\/wp-content\/uploads\/2025\/03\/Atsumi-Sakai-Logo-696x253.jpg 696w, https:\/\/law.asia\/wp-content\/uploads\/2025\/03\/Atsumi-Sakai-Logo.jpg 1000w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><strong>\u6e25\u7f8e\u5742\u4e95\u6cd5\u5f8b\u4e8b\u52a1\u6240<\/strong><br \/>\nFukoku Seimei Bldg. (Reception: 16F)<br \/>\n2-2-2 Uchisaiwaicho,<br \/>\nChiyoda-ku, Tokyo 100-0011 Japan<br \/>\n\u90ae\u7f16\uff1a100-0011 \u65e5\u672c<br \/>\n\u7535\u8bdd: +81-(0)3-5501-2111<br \/>\n\u4f20\u771f: +81-(0)3-5501-2211<br \/>\n<a href=\"http:\/\/www.aplawjapan.com\">www.aplawjapan.com<\/a><\/section>\n<p style=\"text-align: right;\"><a style=\"text-decoration: none;\" href=\"#navigation\"><button style=\"width: 20%; font-size: 12px; letter-spacing: 1px; padding: 3px 3px; color: #000000; border-color: #F4F4F4; background-color: #e96526; background-image: linear-gradient(90deg,rgba(48, 42, 20, 1) 0%, rgba(203, 130, 27, 1) 47%, rgba(127, 147, 158, 1) 100%); background-repeat: repeat-x; border-radius: 3px; a: hover{background-color:#035389;\"><span style=\"color: #ffffff; font-weight: bold; text-transform: uppercase; text-shadow: 1px 1px 2px #16151d;\"><span class=\"color: #fffff; text-shadow: 1px 1px 2px #16151d;\">\u8fd4\u56de\u9876\u90e8<\/span><\/span><\/button><\/a><\/p>\n<hr \/>\n<h2 style=\"text-shadow: #cccccc 1px 1px 2px; text-align: justify;\"><strong><span style=\"color: #ce7d08;\">\u53f0\u6e7e\u52a0\u5bc6\u8d27\u5e01\u76d1\u7ba1<\/span><\/strong><\/h2>\n<p style=\"text-align: justify;\">\u53f0\u6e7e\u76ee\u524d\u5e76\u4e0d\u627f\u8ba4\u52a0\u5bc6\u8d27\u5e01\u662f\u8d27\u5e01\u3002\u81ea2013\u5e74\u4ee5\u6765\uff0c\u53f0\u6e7e\u592e\u884c\u4e0e\u91d1\u878d\u76d1\u7763\u7ba1\u7406\u59d4\u5458\u4f1a\uff08\u4e0b\u79f0\u201c\u91d1\u7ba1\u4f1a\u201d\uff09\u7684\u7acb\u573a\u90fd\u975e\u5e38\u4e00\u81f4\uff0c\u5373\u6bd4\u7279\u5e01\u4e0d\u5e94\u88ab\u89c6\u4e3a\u8d27\u5e01\uff0c\u800c\u662f\u4e00\u79cd\u9ad8\u5ea6\u6295\u673a\u6027\u7684\u6570\u5b57\u865a\u62df\u201c\u5546\u54c1\u201d\u3002<\/p>\n<figure id=\"attachment_586976\" aria-describedby=\"caption-attachment-586976\" style=\"width: 200px\" class=\"wp-caption alignright\"><img class=\"wp-image-586976 size-full\" src=\"https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/Robin-Chang-1.jpg\" alt=\"Robin Chang\" width=\"200\" height=\"250\" \/><figcaption id=\"caption-attachment-586976\" class=\"wp-caption-text\"><strong>\u5f20\u5b8f\u5bbe<\/strong><br \/>\u5408\u4f19\u4eba<br \/>\u7406\u5f8b\u6cd5\u5f8b\u4e8b\u52a1\u6240<br \/>\u53f0\u5317\u529e\u516c\u5ba4<br \/>\u7535\u8bdd: +886 2 2763 8000 (\u5206\u673a 2208)<br \/>\u90ae\u7bb1: <a href=\"mailto:robinchang@leeandli.com\">robinchang@leeandli.com <\/a><\/figcaption><\/figure>\n<p style=\"text-align: justify;\">\u81ea2014\u5e74\u8d77\uff0c\u91d1\u7ba1\u4f1a\u8981\u6c42\u672c\u5730\u94f6\u884c\u4e0d\u5f97\u63a5\u53d7\u6bd4\u7279\u5e01\uff0c\u6216\u63d0\u4f9b\u4e0e\u52a0\u5bc6\u8d27\u5e01\u76f8\u5173\u7684\u4efb\u4f55\u670d\u52a1\u3002\u91d1\u7ba1\u4f1a\u540e\u7eed\u7684\u516c\u544a\u548c\u6cd5\u4ee4\u4e5f\u7ef4\u6301\u8fd9\u4e00\u7acb\u573a\u3002<\/p>\n<p style=\"text-align: justify;\">\u9664\u9488\u5bf9\u8bc1\u5238\u578b\u4ee3\u5e01\u53ca\u5176\u53d1\u884c\uff08STO\uff09\u7684\u76f8\u5173\u89c4\u5b9a\u548c\u5c06\u865a\u62df\u8d44\u4ea7\u670d\u52a1\u63d0\u4f9b\u5546\uff08VASP\uff09\u7eb3\u5165\u53cd\u6d17\u94b1\u6cd5\u5f8b\u7684\u76d1\u7ba1\u8303\u56f4\u5916\uff0c\u53f0\u6e7e\u672a\u6b63\u5f0f\u9881\u5e03\u9488\u5bf9\u52a0\u5bc6\u8d27\u5e01\u7684\u4e13\u6cd5\uff0c\u4e5f\u65e0\u5176\u4ed6\u76f8\u5173\u4fee\u6cd5\u52a8\u4f5c\u3002<\/p>\n<h3 style=\"text-shadow: #cccccc 1px 1px 2px; text-align: justify;\"><span style=\"color: #ce7d08;\"><strong>\u4ee3\u5e01\u53d1\u884c<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\">\u5173\u4e8e\u4ee3\u5e01\u53d1\u884c\uff0c\u5982\u9996\u6b21\u4ee3\u5e01\u53d1\u884c\uff08ICO\uff09\uff0c\u5176\u6838\u5fc3\u76d1\u7ba1\u95ee\u9898\u5728\u4e8e\u662f\u5426\u4f1a\u88ab\u8ba4\u5b9a\u4e3a\u8bc1\u5238\u53d1\u884c\uff0c\u8fdb\u800c\u9002\u7528\u53f0\u6e7e\u7684\u8bc1\u5238\u6cd5\u89c4\u3002\u5982\u679c\u662f\uff0c\u5219\u4ee3\u5e01\u53d1\u884c\u6d3b\u52a8\u987b\u9075\u5b88\u53f0\u6e7e\u300a\u8bc1\u5238\u4ea4\u6613\u6cd5\u300b\u3002<\/p>\n<p style=\"text-align: justify;\">\u82e5\u4ee3\u5e01\u53d1\u884c\u88ab\u8ba4\u5b9a\u4e3a\u8bc1\u5238\u7684\u53d1\u884c\u4e0e\u9500\u552e\u6d3b\u52a8\uff0c\u5373\u4ee3\u5e01\u88ab\u89c6\u4e3a\u8bc1\u5238\u578b\u4ee3\u5e01\uff0c\u90a3\u4e48\uff0c\u53d1\u884c\u6d3b\u52a8\u5fc5\u987b\u9075\u5faaSTO\u76f8\u5173\u89c4\u5b9a\uff0c\u5426\u5219\u5c06\u6784\u6210\u8fdd\u53cd\u300a\u8bc1\u5238\u4ea4\u6613\u6cd5\u300b\u7684\u975e\u6cd5\u96c6\u8d44\u884c\u4e3a\u3002<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #ce7d08; text-shadow: 1px 1px 2px #cccccc;\"><strong>\u8bc1\u5238\u578b\u4ee3\u5e01\u4e0eSTO<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\">2019\u5e74\uff0c\u53f0\u6e7e\u91d1\u7ba1\u4f1a\u6b63\u5f0f\u53d1\u5e03\u6cd5\u4ee4\uff0c\u6838\u5b9a\u5177\u6709\u7279\u5b9a\u6027\u8d28\u7684\u52a0\u5bc6\u8d27\u5e01\u4e3a\u300a\u8bc1\u5238\u4ea4\u6613\u6cd5\u300b\u5b9a\u4e49\u7684\u201c\u8bc1\u5238\u201d\uff0c\u6b64\u7c7b\u52a0\u5bc6\u8d27\u5e01\u5c5e\u8bc1\u5238\u578b\u4ee3\u5e01\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>\u636e\u6b64\uff0c\u8bc1\u5238\u578b\u4ee3\u5e01\u6307\u7b26\u5408\u4ee5\u4e0b\u6761\u4ef6\u7684\u4ee3\u5e01\uff1a<\/strong><\/p>\n<ul>\n<li style=\"text-align: justify;\">\u5229\u7528\u52a0\u5bc6\u6280\u672f\u3001\u5206\u5e03\u5f0f\u8d26\u672c\u6280\u672f\u6216\u5176\u4ed6\u7c7b\u4f3c\u6280\u672f\u6765\u8868\u793a\u5176\u4ef7\u503c\uff0c\u5e76\u53ef\u901a\u8fc7\u6570\u5b57\u673a\u5236\u8fdb\u884c\u5b58\u50a8\u3001\u4ea4\u6362\u6216\u8f6c\u8ba9\uff1b<\/li>\n<li style=\"text-align: justify;\">\u53ef\u8f6c\u8ba9\uff1b\u4ee5\u53ca<\/li>\n<li style=\"text-align: justify;\">\u540c\u65f6\u5177\u5907\u4ee5\u4e0b\u6240\u6709\u6295\u8d44\u5c5e\u6027\uff1a<\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li style=\"text-align: justify;\">\u7531\u6295\u8d44\u4eba\u63d0\u4f9b\u8d44\u91d1\uff1b<\/li>\n<li style=\"text-align: justify;\">\u4e3a\u67d0\u4e2a\u5171\u540c\u4f01\u4e1a\u6216\u9879\u76ee\u63d0\u4f9b\u8d44\u91d1\uff1b<\/li>\n<li style=\"text-align: justify;\">\u6295\u8d44\u4eba\u9884\u671f\u83b7\u5f97\u6536\u76ca\uff1b<\/li>\n<li style=\"text-align: justify;\">\u6536\u76ca\u4e3b\u8981\u6765\u6e90\u4e8e\u53d1\u884c\u4eba\u6216\u7b2c\u4e09\u65b9\u7684\u52aa\u529b\u3002<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">\u53f0\u6e7e\u91d1\u7ba1\u4f1a\u4e0e\u8bc1\u5238\u67dc\u53f0\u4e70\u5356\u4e2d\u5fc3\uff08\u4e0b\u79f0\u201c\u67dc\u4e70\u4e2d\u5fc3\u201d\uff09\u5171\u540c\u5236\u5b9a\u4e86STO\u76f8\u5173\u89c4\u8303\uff0c\u4e8e2020\u5e74\u9881\u5e03\uff0c\u5e76\u57282023\u5e74\u8fdb\u4e00\u6b65\u4fee\u8ba2\u3002<\/p>\n<p style=\"text-align: justify;\">\u8be5\u89c4\u8303\u4ee5\u65b0\u53f0\u5e013000\u4e07\u5143\uff08\u7ea6\u540893\u4e07\u7f8e\u5143\uff09\u4e3a\u5212\u5206\u6807\u51c6\u30023000\u4e07\u5143\u6216\u4ee5\u4e0b\u7684STO\u53ef\u4f9d\u7167STO\u89c4\u8303\u8fdb\u884c\uff0c\u8d85\u8fc73000\u4e07\u5143\u7684STO\u5219\u987b\u5148\u7533\u8bf7\u8fdb\u5165\u201c\u91d1\u878d\u76d1\u7ba1\u6c99\u76d2\u201d\u6d4b\u8bd5\uff0c\u82e5\u6d4b\u8bd5\u7ed3\u679c\u4e3a\u6b63\u9762\uff0c\u65b9\u53ef\u4f9d\u53f0\u6e7e\u300a\u8bc1\u5238\u4ea4\u6613\u6cd5\u300b\u7ee7\u7eed\u63a8\u8fdb\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>\u9488\u5bf93000\u4e07\u5143\u6216\u4ee5\u4e0b\u7684STO\u7684\u4e3b\u8981\u89c4\u5b9a\u5305\u62ec\uff1a<\/strong><\/p>\n<ol>\n<li style=\"text-align: justify;\">\u53d1\u884c\u4eba\u8d44\u683c\uff1a\u53d1\u884c\u4eba\u987b\u4e3a\u4f9d\u53f0\u6e7e\u6cd5\u5f8b\u8bbe\u7acb\u7684\u80a1\u4efd\u6709\u9650\u516c\u53f8\uff0c\u4e14\u672a\u5728\u53f0\u6e7e\u8bc1\u5238\u4ea4\u6613\u6240\u3001\u67dc\u4e70\u4e2d\u5fc3\u4e0a\u5e02\uff0c\u4ea6\u672a\u5728\u5174\u67dc\u5e02\u573a\u4ea4\u6613\u3002<\/li>\n<li style=\"text-align: justify;\">\u53ef\u53d1\u884c\u7c7b\u578b\uff1a\u4ec5\u9650\u65e0\u80a1\u4e1c\u6743\u5229\u7684\u5229\u6da6\u5171\u4eab\u578b\u6216\u503a\u52a1\u578b\u4ee3\u5e01\u3002<\/li>\n<li style=\"text-align: justify;\">\u5408\u683c\u6295\u8d44\u4eba\u53ca\u9650\u989d\uff1a\u4ec5\u9650\u4e13\u4e1a\u6295\u8d44\u4eba\u53c2\u4e0e\uff1b\u5982\u4e3a\u81ea\u7136\u4eba\u4e13\u4e1a\u6295\u8d44\u4eba\uff0c\u6bcf\u6b21STO\u7684\u6700\u9ad8\u8ba4\u8d2d\u91d1\u989d\u4e3a\u65b0\u53f0\u5e0130\u4e07\u5143\u3002<\/li>\n<li style=\"text-align: justify;\">STO\u5e73\u53f0\u8fd0\u8425\u5546\uff1a\u987b\u53d6\u5f97\u8bc1\u5238\u81ea\u8425\u5546\u724c\u7167\uff0c\u5b9e\u7f34\u8d44\u672c\u989d\u4e0d\u5c11\u4e8e\u65b0\u53f0\u5e01\u4e00\u4ebf\u5143\uff0c\u5e76\u63d0\u4f9b\u65b0\u53f0\u5e011000\u4e07\u5143\u7684\u8425\u8fd0\u4fdd\u8bc1\u91d1\u3002<\/li>\n<li style=\"text-align: justify;\">\u603b\u53d1\u884c\u91d1\u989d\uff1a\u5355\u4e00\u5e73\u53f0\u6240\u6709STO\u7684\u603b\u91d1\u989d\u4e0d\u5f97\u8d85\u8fc7\u65b0\u53f0\u5e01\u4e24\u4ebf\u5143\u3002<\/li>\n<li style=\"text-align: justify;\">\u5176\u4ed6\u8981\u6c42\u4e0e\u9650\u5236\u5305\u62ec\u9488\u5bf9\u4e8c\u7ea7\u5e02\u573a\u4ea4\u6613\u3001\u5b9e\u540d\u5236\u3001\u4ee5\u65b0\u53f0\u5e01\u8ba1\u4ef7\u7b49\u7684\u89c4\u5b9a\u3002<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u7531\u4e8eSTO\u89c4\u8303\u5bf9\u53d1\u884c\u4eba\u8d44\u683c\u3001\u5408\u683c\u6295\u8d44\u4eba\u95e8\u69db\u53ca\u91d1\u989d\u7b49\u65b9\u9762\u7684\u9650\u5236\u8f83\u4e3a\u4e25\u683c\uff0c\u4e14\u5408\u89c4\u6210\u672c\u8f83\u9ad8\uff0c\u8fc4\u4eca\u4ec5\u6709\u4e00\u9879STO\u8ba1\u5212\u6210\u529f\u63a8\u51fa\u3002<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #ce7d08; text-shadow: 1px 1px 2px #cccccc;\"><strong>\u53cd\u6d17\u94b1\u76d1\u7ba1<\/strong><\/span><\/h3>\n<figure id=\"attachment_586980\" aria-describedby=\"caption-attachment-586980\" style=\"width: 200px\" class=\"wp-caption alignright\"><img class=\"wp-image-586980 size-full\" src=\"https:\/\/law.asia\/wp-content\/uploads\/2025\/05\/Eddie-Hsiung.jpg\" alt=\"Eddie Hsiung\" width=\"200\" height=\"250\" \/><figcaption id=\"caption-attachment-586980\" class=\"wp-caption-text\"><strong>\u718a\u5168\u8fea<\/strong><br \/>\u5408\u4f19\u4eba<br \/>\u7406\u5f8b\u6cd5\u5f8b\u4e8b\u52a1\u6240<br \/>\u53f0\u5317\u529e\u516c\u5ba4<br \/>\u7535\u8bdd: +886 2 2763 8000 (\u5206\u673a 2162)<br \/>\u90ae\u7bb1: <a href=\"mailto:eddiehsiung@leeandli.com\">eddiehsiung@leeandli.com <\/a><\/figcaption><\/figure>\n<p style=\"text-align: justify;\">\u5c3d\u7ba1STO\u6d3b\u52a8\u6709\u9650\uff0c\u4f46\u4ecd\u6709\u52a0\u5bc6\u8d27\u5e01\u5e73\u53f0\/\u4ea4\u6613\u6240\u8fd0\u8425\u5546\u63d0\u4f9b\u4e0e\u975e\u8bc1\u5238\u578b\u4ee3\u5e01\u76f8\u5173\u7684\u52a0\u5bc6\u8d27\u5e01\u670d\u52a1\u3002<\/p>\n<p style=\"text-align: justify;\">\u7531\u4e8e\u76ee\u524d\u5e76\u65e0\u4e13\u95e8\u9488\u5bf9\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u7684\u6cd5\u5f8b\u6cd5\u89c4\uff0c\u56e0\u6b64\uff0c\u53ea\u8981\u672a\u6d89\u53ca\u8bc1\u5238\u578b\u4ee3\u5e01\uff0c\u8fd0\u8425\u52a0\u5bc6\u8d27\u5e01\u5e73\u53f0\/\u4ea4\u6613\u6240\u65e0\u9700\u53d6\u5f97\u7279\u5b9a\u724c\u7167\u3002<\/p>\n<p style=\"text-align: justify;\">\u7136\u800c\uff0c\u300a\u6d17\u94b1\u9632\u5236\u6cd5\u300b\u4f5c\u4e3a\u4e3b\u8981\u7684\u53cd\u6d17\u94b1\u6cd5\u5f8b\uff0c\u5df2\u5c06VASP\u7eb3\u5165\u53f0\u6e7e\u7684\u53cd\u6d17\u94b1\u76d1\u7ba1\u4f53\u7cfb\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>\u6839\u636e\u91d1\u7ba1\u4f1a\u4f9d\u73b0\u884c\u300a\u6d17\u94b1\u9632\u5236\u6cd5\u300b\u8ba2\u7acb\u7684\u6761\u4f8b\uff0cVASP\u7684\u4e1a\u52a1\u8303\u56f4\u5305\u62ec\uff1a<\/strong><\/p>\n<ol>\n<li style=\"text-align: justify;\">\u865a\u62df\u8d44\u4ea7\u4e0e\u65b0\u53f0\u5e01\u3001\u5916\u5e01\u6216\u4e2d\u56fd\u5927\u9646\u3001\u9999\u6e2f\u3001\u6fb3\u95e8\u53d1\u884c\u7684\u8d27\u5e01\u4e4b\u95f4\u7684\u5151\u6362\uff1b<\/li>\n<li style=\"text-align: justify;\">\u865a\u62df\u8d44\u4ea7\u4e4b\u95f4\u7684\u5151\u6362\uff1b<\/li>\n<li style=\"text-align: justify;\">\u865a\u62df\u8d44\u4ea7\u7684\u8f6c\u79fb\uff1b<\/li>\n<li style=\"text-align: justify;\">\u865a\u62df\u8d44\u4ea7\u7684\u6258\u7ba1\u548c\/\u6216\u7ba1\u7406\uff0c\u6216\u63d0\u4f9b\u63a7\u5236\u865a\u62df\u8d44\u4ea7\u7684\u5de5\u5177\uff1b\u4ee5\u53ca<\/li>\n<li style=\"text-align: justify;\">\u53c2\u4e0e\u53ca\u63d0\u4f9b\u4e0e\u865a\u62df\u8d44\u4ea7\u53d1\u884c\u6216\u9500\u552e\u76f8\u5173\u7684\u91d1\u878d\u670d\u52a1\u3002<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">2024\u5e74\uff0c\u91d1\u7ba1\u4f1a\u6839\u636e\u300a\u6d17\u94b1\u9632\u5236\u6cd5\u300b\u53d1\u5e03\u65b0\u89c4\uff0c\u8981\u6c42VASP\u5728\u63d0\u4f9b\u4efb\u4f55\u865a\u62df\u8d44\u4ea7\u76f8\u5173\u670d\u52a1\uff08\u5982\u8fd0\u8425\u4ea4\u6613\u6240\u3001\u4ea4\u6613\u5e73\u53f0\u3001\u8f6c\u8d26\u670d\u52a1\u3001\u6258\u7ba1\u670d\u52a1\u6216\u627f\u9500\u6d3b\u52a8\uff09\u524d\uff0c\u5fc5\u987b\u5411\u91d1\u7ba1\u4f1a\u6ce8\u518c\u3002\u672a\u6ce8\u518c\u5373\u5f00\u5c55\u4e1a\u52a1\u7684\uff0c\u53ef\u80fd\u9762\u4e34\u5211\u4e8b\u5904\u7f5a\uff0c\u5305\u62ec\u6700\u9ad8\u4e24\u5e74\u6709\u671f\u5f92\u5211\u3001\u6700\u9ad8\u65b0\u53f0\u5e01500\u4e07\u5143\u7f5a\u91d1\uff0c\u6216\u4e24\u8005\u5e76\u7f5a\u3002<\/p>\n<p style=\"text-align: justify;\">\u5bf9\u6b64\uff0c\u8bb8\u591aVASP\u5df2\u63d0\u4ea4\u6ce8\u518c\u7533\u8bf7\uff0c\u91d1\u7ba1\u4f1a\u9884\u8ba1\u6700\u8fdf\u5c06\u4e8e2025\u5e749\u6708\u524d\u516c\u5e03\u6838\u51c6\u540d\u5355\u3002\u6b64\u5916\uff0c\u6cd5\u89c4\u5bf9VASP\u65bd\u52a0\u4e86\u591a\u9879\u8fd0\u8425\u4e49\u52a1\uff0c\u5305\u62ec\uff1a\uff081\uff09\u5efa\u7acb\u5185\u90e8\u63a7\u5236\u4f53\u7cfb\u548c\u5ba1\u8ba1\u673a\u5236\uff1b\uff082\uff09\u5b9e\u65bd\u5ba2\u6237\u5c3d\u804c\u8c03\u67e5\uff08KYC\uff09\u7a0b\u5e8f\uff1b\uff083\uff09\u59a5\u5584\u4fdd\u5b58\u4ea4\u6613\u8bb0\u5f55\uff1b\uff084\uff09\u6301\u7eed\u76d1\u63a7\u5ba2\u6237\u6d3b\u52a8\uff1b\u4ee5\u53ca\uff085\uff09\u5411\u4e3b\u7ba1\u673a\u5173\u62a5\u544a\u5927\u989d\u4ea4\u6613\u53ca\u53ef\u7591\u6d3b\u52a8\u3002<\/p>\n<h3 style=\"text-shadow: #cccccc 1px 1px 2px; text-align: justify;\"><span style=\"color: #ce7d08;\"><strong>\u6700\u65b0\u8fdb\u5c55\u00a0<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\">\u91d1\u7ba1\u4f1a\u5df2\u53d1\u5e03\u591a\u9879\u6307\u5f15\uff0c\u6db5\u76d6\u5e7f\u6cdb\u8bae\u9898\uff0c\u4ee5\u4e3a\u672a\u6765\u5efa\u7acb\u5168\u9762\u7684VASP\u76d1\u7ba1\u6846\u67b6\u5960\u5b9a\u57fa\u7840\uff0c\u5305\u62ec\uff1a\uff081\uff09\u865a\u62df\u8d44\u4ea7\u53d1\u884c\u4eba\u7684\u4e49\u52a1\uff0c\u5982\u53d1\u5e03\u767d\u76ae\u4e66\uff1b\uff082\uff09VASP\u5728\u4e0a\u67b6\u6216\u63a8\u51fa\u65b0\u865a\u62df\u8d44\u4ea7\u524d\u7684\u5ba1\u67e5\u673a\u5236\uff1b\uff083\uff09\u5ba2\u6237\u8d44\u4ea7\u4e0eVASP\u81ea\u6709\u8d44\u91d1\u7684\u9694\u79bb\u8981\u6c42\uff1b\uff084\uff09\u786e\u4fdd\u4ea4\u6613\u516c\u5e73\u4e0e\u900f\u660e\uff1b\uff085\uff09\u8fd0\u8425\u7ba1\u7406\u6807\u51c6\uff0c\u5305\u62ec\u7f51\u7edc\u5b89\u5168\u53ca\u51b7\u70ed\u94b1\u5305\u7ba1\u7406\uff1b\uff086\uff09\u4fe1\u606f\u62ab\u9732\u4e49\u52a1\uff1b\uff087\uff09\u5185\u90e8\u63a7\u5236\u4e0e\u5ba1\u8ba1\u4f53\u7cfb\u7684\u5efa\u7acb\uff1b\uff088\uff09\u5c06\u90e8\u5206\u5408\u89c4\u4e49\u52a1\u5ef6\u4f38\u81f3\u5883\u5916VASP\u3002<\/p>\n<p style=\"text-align: justify;\">\u5728\u6b64\u57fa\u7840\u4e0a\uff0c\u91d1\u7ba1\u4f1a\u4e8e2025\u5e743\u6708\u5ba3\u5e03\u8d77\u8349\u4e13\u95e8\u9488\u5bf9VASP\u7684\u6cd5\u5f8b\uff0c\u8fdb\u4e00\u6b65\u52a0\u5f3a\u76d1\u7ba1\u3002\u62df\u8bae\u7acb\u6cd5\u805a\u7126\u4e8e\u6700\u4f4e\u8d44\u672c\u95e8\u69db\u3001VASP\u8d1f\u8d23\u4eba\u53ca\u5b9e\u76ca\u53d7\u76ca\u4eba\u7684\u8d44\u683c\u8981\u6c42\uff0c\u4ee5\u53ca\u5f3a\u5316\u6d88\u8d39\u8005\u4fdd\u62a4\u3002\u4e00\u65e6\u7acb\u6cd5\u901a\u8fc7\uff0c\u73b0\u884c\u4ee5\u53cd\u6d17\u94b1\u4e3a\u4e3b\u7684\u6ce8\u518c\u5236\u5c06\u8f6c\u4e3a\u5168\u9762\u8bb8\u53ef\u5236\uff0cVASP\u9700\u53d6\u5f97\u76d1\u7ba1\u6838\u51c6\u540e\u65b9\u53ef\u63d0\u4f9b\u865a\u62df\u8d44\u4ea7\u670d\u52a1\u3002<\/p>\n<p style=\"text-align: justify;\">\u7136\u800c\uff0c\u8be5\u8349\u6848\u80fd\u5426\u53ca\u4f55\u65f6\u901a\u8fc7\u53f0\u6e7e\u7acb\u6cd5\u9662\uff0c\u4ecd\u5b58\u5728\u4e0d\u786e\u5b9a\u6027\u3002<\/p>\n<h3 style=\"text-shadow: #cccccc 1px 1px 2px; text-align: justify;\"><span style=\"color: #ce7d08;\"><strong>DeFi\u4e0eNFT<\/strong><\/span><\/h3>\n<p style=\"text-align: justify;\">\u52a0\u5bc6\u8d27\u5e01\u4e0e\u533a\u5757\u94fe\u6280\u672f\u7684\u65b0\u5e94\u7528\uff0c\u5982DeFi\uff08\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\uff09\u548cNFT\uff0c\u4e5f\u5f15\u53d1\u4e86\u70ed\u70c8\u8ba8\u8bba\u3002\u5c3d\u7ba1\u53f0\u6e7e\u653f\u5e9c\u5c1a\u672a\u5c31DeFi\u5174\u8d77\u53d1\u8868\u5b98\u65b9\u610f\u89c1\uff0c\u4f46\u5728\u672c\u5730\u4ece\u4e8b\u76f8\u5173\u6d3b\u52a8\u7684\uff0c\u5e94\u6839\u636e\u4e2a\u6848\u60c5\u51b5\u5177\u4f53\u5206\u6790\u5176\u6d3b\u52a8\u7c7b\u522b\uff0c\u67e5\u9605\u53c2\u8003\u94f6\u884c\u3001\u4fe1\u6258\u53ca\u671f\u8d27\u7b49\u76f8\u5173\u6cd5\u5f8b\uff0c\u4ee5\u786e\u4fdd\u6d3b\u52a8\u7b26\u5408\u53f0\u6e7e\u6cd5\u5f8b\u3002<\/p>\n<p style=\"text-align: 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