股权众筹平台具有多重身份。在股权众筹第一案中,平台既作为承销商负责融资,也作为居间商联络融投双方,还担当了股权众筹市场的监管者。尽管众筹平台或多或少地打破了民事主体之间的平等地位,但将平台作为规制主体并引导股权众筹市场的发展却是合乎情理的。股权众筹依托于互联网技术,在融资者与投资人之间架起了沟通的桥梁。政府认可平台一定的监督权能,也只是为了更好地服务于这个目的。股权众筹需要走市场化的道路,更需要重塑平台作为居间者的身份。从长远来看,建立合格投资者制度并以投资人为规制主体才是更为理想的股权众筹模式。 Equity crowdfunding platform has multiple identities. In the first case of crowdfunding, the platform is not only responsible for financing as an underwriter, but also serves as an intermediary for both parties and serves as a regulator of the equity crowdfunding market. Although crowdfunding platforms have broken the equal status between civil entities to a greater or lesser degree, it makes sense to regard the platform as the main body of regulation and to guide the development of the equity crowdfunding market. The equity crowdfunding relies on Internet technology to bridge the gap between financiers and investors. The government recognizes that the platform has certain supervisory powers just to better serve this purpose. Crowdfunding needs to take the path of market-oriented, but also need to reshape the platform as an intermediary identity. In the long run, setting up a qualified investor system and taking investors as the main body of regulation is the ideal model of equity crowdfunding.