论ICO新规下我国投资者权益的民事保护  

On Civil Protection of Investors’ Rights and Interests in China under ICO New Regulation

作　　者：韩斐 HAN Fei(School of Law,Central University of Finance and Economics,Beijing 100081,China)

机构地区：[1]中央财经大学法学院

出　　处：《太原学院学报（社会科学版）》2019年第6期73-82,共10页Journal of Taiyuan University(Social Science Edition)

摘　　要：区块链技术的发展及比特币等数字货币的火热促进了ICO市场的爆炸式发展,与此同时打着ICO幌子的庞氏骗局不断涌现,投机炒作盛行,严重扰乱金融市场秩序。为规范监管,2017年9月4日,央行等七部委联合下发《关于防范代币发行融资风险的公告》,全面叫停ICO。虽然已完成融资的个人和组织要以保护投资者权益为原则,及时作出清退安排,但ICO市场商业价值的消灭,仍使投资者无可避免地受到经济损失。而现有监管法律文件和一般民事法律规范对投资者民事权益保护极其不足,需要探讨ICO新规下更有利于投资者权益的民事保护对策。The development of block chain technology and the hot virtual currencies such as bitcoin boost the explosive growth of ICO.At the same time,the Pang’s schemes,in the name of ICO,are constantly emerging,and speculation is rampant,which seriously distorts the order of the financial market.To standardize the regulation,on September 4,2017,seven ministries jointly issued“Notice on guarding against the risk of financing for the issuance of tokens”,and halted the ICO comprehensively.Although individuals and organizations that have completed financing must take the principle of protecting investors’rights and interests,and make timely arrangements for repayment,the elimination of the commercial value of the ICO market will still inevitably expose investors to economic losses.However,the existing regulatory legal documents and general civil legal norms protect the civil rights and interests of investors and their deficiencies.Therefore,it is necessary to discuss the civil protection countermeasures that are more conducive to the rights and interests of investors under the new ICO regulations.

关 键 词：ICO市场 ICO市场主体 投资者权利与相对方义务 投资者民事保护 

分 类 号：D912.28[政治法律—民商法学]