The Security Token Offering (STO) represents a fusion of traditional securities and blockchain token issuance, categorized into asset-based STO, derivatives-based STO, and payment-based STO, establishing a novel tripartite legal relationship among the issuer, trading platform, and subscriber. This study commences by defining the essence of STOs, delving into the fundamental legal dynamics, and scrutinizing the primary challenges in localizing construction, specifically the limitations of the conventional civil law system and the complexities in establishing a rights bundle paradigm. In accordance with prevailing regulations, it advocates for a localized construction approach, involving an expanded interpretation within the criminal law and civil law systems. The adaptation within the criminal law system involves recognizing the property attributes to prevent classification as illicit tokens or other violations. Meanwhile, the adaptation within the civil law system entails endorsing the legalization of security token trading and validating the legitimacy of entrusted investment and trading activities involving security tokens.