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股权众筹是互联网金融下新兴的融资模式,美国在众筹法案中引入股权众筹平台,作为连接发行人和投资者的信息中介和保护投资者的安全港。众筹法案其将众筹平台定位为集资门户和证券经纪商,一方面可以降低股权众筹平台成本;另一方面可以为众筹平台提供灵活的注册选择。我国可以借鉴美国对于众筹平台双重定位的思路,规定我国众筹平台可注册为证券经纪商或集资门户,并明确众筹平台的权利义务,使之有效发挥对股权众筹的监管作用。
Equity crowdfunding is a new financing model under internet finance. The United States introduced a crowdfunding platform for crowdfunding in the crowdfunding act as an information intermediary connecting issuers and investors and a safe haven for investors. The Crowdfunding Act, which positions crowdfunding platforms as funding portals and stock brokers, can reduce the cost of equity crowdfunding platforms on the one hand and provide flexible registration options for crowdfunding platforms on the other. China can learn from the United States for the dual positioning of crowdfunding platform train of thought that China’s crowdfunding platform can be registered as a securities broker or fund-raising portal, and clear the rights and obligations of crowdfunding platform to effectively play the regulatory role of equity crowdfunding.