股权众筹作为一种通过互联网平台向众多投资者销售股权或类似于股权的权益份额的融资方式,~①一方面为初创企业和创业项目提供了股权融资的可能性,因而受到创业者的青睐,另一方面也因其在监管和合规方面的模糊性而备受争议,监管部门对股权众筹模式持谨慎态度。在当前对众筹融资的研究和讨论中,股权众筹吸引了更多的注 Equity Crowdfunding as a way to sell equity or equity-like shareholdings to a large number of investors via the Internet platform, is favored by entrepreneurs, on the one hand, for the possibility of equity financing for start-ups and entrepreneurship projects on the one hand On the other hand, it is also controversial because of its ambiguity in regulation and compliance. Regulators are cautious about the crowdfunding model. In the current research and discussion on crowdfunding, equity crowdfunding has drawn more attention