北京严厉打击证券型代币发行，宣布其非法

北京金融监管机构总干事警告说，证券型代币发行（STO）融资是非法活动。北京市金融工作局局长霍学文在“2018全球财富管理论坛”上强调了通过STO融资的风险。上个月，中国人民银行（PBoC）对与区块链融资和投资相关的投机和市场操纵发出警告。

Beijing Financial Authority Issues Stern Warning on Security Token Offerings

北京金融管理局对证券型代币发行发出严厉警告

In a significant move that underscores the regulatory stance towards cryptocurrency fundraising in China, the director general of the Beijing Municipal Bureau of Financial Work has declared Security Token Offering (STO) fundraising activities as "illegal."

北京市金融工作局局长宣布证券型代币发行（STO）筹款活​​动为“非法”，此举凸显了中国对加密货币融资的监管立场。

Warning Issued at Global Wealth Management Forum

全球财富管理论坛发出警告

The warning was issued on December 1st during the "2018 Global Wealth Management Forum" hosted by the Beijing Municipal Bureau of Financial Work. Huo Xuewen, the watchdog's director, emphasized the heightened risks associated with STOs, cautioning against their use within the municipality.

该警示是12月1日在北京市金融工作局主办的“2018全球财富管理论坛”期间发出的。监管机构主任霍学文强调了与 STO 相关的较高风险，并警告不要在市内使用它们。

"I issue a risk warning to those who are promoting STOs in Beijing and intend to issue one," stated Huo Xuewen. "Do not engage in such activities within Beijing. If you do so, you will be prosecuted for illegal financial activities."

霍学文表示：“我向那些在北京推广 STO 并打算发行 STO 的人发出风险警告。” “不要在北京境内从事此类活动。如果这样做，将因非法金融活动而被起诉。”

National Central Bank Previously Warns of Speculation

国家央行此前曾警告投机行为

In November, the People's Bank of China (PBoC) had issued a stern warning against "speculation, market manipulation, and other irregularities" linked to blockchain financing and investments.

11月，中国人民银行（PBoC）对与区块链融资和投资相关的“投机、市场操纵和其他违规行为”发出严厉警告。

Cryptocurrency Legality Questioned Elsewhere

加密货币合法性在其他地方受到质疑

The concerns raised by Beijing resonate with similar regulatory sentiments expressed by other financial authorities. In July, the head of the international department of the China Banking and Insurance Regulatory Commission acknowledged blockchain technology's potential while distancing the stance from cryptocurrencies.

北京提出的担忧与其他金融当局表达的类似监管情绪产生了共鸣。 7月，中国银行保险监督管理委员会国际部负责人承认区块链技术的潜力，同时与加密货币保持距离。

This week, the Thai Securities and Exchange Commission (SEC) also raised concerns about the legality of STOs, stating that Thai-related STOs issued in international markets would constitute a violation of the law.

本周，泰国证券交易委员会（SEC）也对 STO 的合法性提出了担忧，表示在国际市场发行与泰国相关的 STO 将构成违法行为。

STO Legality Remains in Limbo

STO 的合法性仍悬而未决

STO fundraising has gained traction as a potential alternative to traditional initial public offerings (IPOs). However, the legal status of STOs remains uncertain in many jurisdictions, including China.

STO 筹款作为传统首次公开募股 (IPO) 的潜在替代方案已受到关注。然而，在包括中国在内的许多司法管辖区，STO 的法律地位仍然不确定。

The lack of clear regulatory frameworks has raised concerns among investors and has led to heightened scrutiny by financial authorities around the globe.

缺乏明确的监管框架引起了投资者的担忧，并导致全球金融当局加强审查。

The recent warning from Beijing serves as a stark reminder of the regulatory challenges facing the burgeoning STO market. As governments and financial regulators grapple with the evolving landscape of blockchain-based fundraising, the future of STOs remains uncertain.

北京最近发出的警告清楚地提醒人们，新兴的 STO 市场面临着监管挑战。随着政府和金融监管机构努力应对基于区块链的筹款不断变化的格局，STO 的未来仍然不确定。