Legal regulation of crowdfunding and investment platforms: The experience of the United States, Russia and Europe

Mikhail A. Garmashev; Julia A. Sakhno; Inna N. Peremyshlennikova; Natalya A. Sedova; Marina M. Staroselzeva

doi:10.21744/lingcure.v5nS3.1695

Authors

Mikhail A. Garmashev
garmashev@bsu.edu.ru
Belgorod National Research University, 85 Pobedy Street, Belgorod, 308015, Russia
Julia A. Sakhno Belgorod National Research University, 85 Pobedy Street, Belgorod, 308015, Russia
Inna N. Peremyshlennikova Belgorod National Research University, 85 Pobedy Street, Belgorod, 308015, Russia
Natalya A. Sedova Kuban State Agrarian University, 13, Kalinina Street, Krasnodar, 350044, Russia
Marina M. Staroselzeva Belgorod law Institute of MIA of Russia named after I.D. Putilin, 71 Gorky Street, Belgorod, 308024, Russia

Keywords:

crowdfunding, digital currency, digital rights, investment agreement, investment platform, startup

Abstract

The article provides a comparative analysis of the legal regulation of crowdfunding and investment platforms in Germany, Russia, the USA, and France. Crowdfunding has been researched as a category that is an integral part of investment platforms; in a concise form, the formation of crowdfunding in the declared group of countries is disclosed; identified possible risks and problems when using investment platforms and crowdfunding. The legislation of the United States, France, Germany, and Russia in the field of crowdfunding reveals the main provisions that are directly related to investment platforms and investments, thereby helping interested parties navigate in this environment. Although the legislation of Russia, unlike foreign countries, does not directly mention crowdfunding, which in turn gives rise to legal conflicts of using this activity through the national law on attracting investments, limiting the rights of individual citizens to attract investments.

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