股权众筹的非法集资刑事风险及规制路径探究

Research on the Criminal Risk and Regulations System of Illegal Fund-raising in Equity Crowdfunding

股权众筹作为互联网金融模式的新兴代表,发挥着进一步推进普惠金融的广度和深度作用,但由于互联网天然开放特性及相关制度缺失,处于发展初期的股权众筹触发非法集资犯罪的可能性极大。为维护股权众筹稳步发展,刑法规制上应坚守谦抑性原则,注重兼顾金融创新与金融秩序的平衡;逐步放开对金融准入类犯罪的限制;明确刑法打击界限、严厉惩治互联网股权融资中的异化行为;强化与非刑罚手段相衔接,稳固刑法作为保障法的地位。

Equity crowdfunding,as an emerging representative of the Internet financial model,broadens the scope and depth of inclusive finance.However,equity crowdfunding will probably cross the red line of illegal fundraising activities due to being short of its own natural network attributes and related systems.For the steady development of equity crowdfunding,on the criminal law system,lawmakers and judicial officers should stick to the principle of modesty,give consideration to the balance between financial innovation and financial order;gradually liberalize the restrictions on financial crimes;clarify the boundaries of the criminal law and severely punish the alienated behavior in internet equity financing,strengthen the connection with non-penalty means,and stabilize the status of criminal law as the guarantee law.