陳靜芳律師受邀擔任中華經濟研究院「SpaceX 太空經濟全解析分享會｜數位金融工作坊」講者 / Attorney Jingfang Chen Speaks at CIER’s “SpaceX Space Economy Seminar｜Digital Finance Workshop”

本所主持律師陳靜芳律師於 2026 年 6 月 29 日受邀擔任由中華經濟研究院主辦之「SpaceX 太空經濟全解析分享會｜數位金融工作坊」專題講者，介紹 RWA（實體資產）代幣化之制度架構與實務應用。

演講以 SpaceX 代幣化認購事件為切入，說明加密交易所推出代幣化產品時，若未能於初級市場取得足夠底層股票，仍可能面臨交收失敗之風險，並進一步帶出 RWA 產品設計中底層權利、資產取得與結算機制之重要性。

陳律師並進一步說明，評估 RWA 專案時，應回到其產品結構與權利安排，釐清底層資產之權利性質、名冊登記及合規轉讓機制，而非僅觀察其是否採用鏈上形式。其亦指出，代幣化不改變底層資產之法律性質；上鏈改變的是形式與流通流程，而非底層權利之法律定性。

此外，本次分享亦借鏡美國、香港及新加坡之監理發展，探討台灣 RWA 監理與市場推動之可能方向，並說明未來金融產品設計可從跨境流通、結算機制及機構採用等面向進一步思考。

Ms. Jingfang Chen, the managing partner of our firm, was invited to serve as a featured speaker at the “SpaceX Space Economy Seminar｜Digital Finance Workshop” hosted by the Chung-Hua Institution for Economic Research on June 29, 2026. She introduced the regulatory framework and practical applications of Real World Assets (RWA) tokenization.

The presentation opened with the SpaceX tokenized subscription incident, illustrating that when crypto exchanges offer tokenized products, a failure to secure sufficient underlying shares in the primary market may still result in settlement failure. This example highlighted the importance of underlying rights, asset acquisition, and settlement mechanisms in the design of RWA products.

Ms. Chen also discussed the product structure and rights arrangements of RWA projects. She noted that market participants should first clarify the legal nature of the underlying asset, the registry mechanism, and the compliant transfer structure, rather than focusing only on whether the product is issued on-chain. She further explained that tokenization does not change the legal nature of the underlying asset; it changes the form and process of circulation, not the legal characterization of the underlying rights.

In addition, the presentation drew on regulatory developments in the United States, Hong Kong, and Singapore to explore possible directions for Taiwan’s RWA regulation and market development. Ms. Chen also discussed how future financial product design may further consider cross-border circulation, settlement mechanisms, and institutional adoption.