Проблеми і перспективи правового регулювання краудфандингу в Україні

Abstract

Omelchuk O. S., Baitaliuk D. R. Problems and prospects of legal regulation of country funding in Ukraine. – Article. The article is devoted to the problems of legal regulation of crowdfunding relations in Ukraine. It is determined that today the financing of commercial and socially important projects is becoming decentralized. Crowdfunding as a phenomenon has not been found to be new, but it has become widespread in the information age due to the spread of Internet technology. The opinion on the impossibility of correct definition of the sphere of regulated crowdfunding relations and methods of legal regulation is argued due to the fact that the domestic legislation does not establish a normative definition of the concept of crowdfunding. The available views on the definition of crowdfunding are analyzed, the author’s vision of the content of crowdfunding relations is formed. Crowdfunding relations were classified according to the type of project (commercial, social, environmental, creative crowdfunding), depending on the status of participants in crowdfunding relations (p2p-crowdfunding, p2b-crowdfunding, b2b-forms of crowdfunding), depending on the form of investment and the form of funds return. It is concluded that crowdfunding relations go beyond relations in the field of charity, credit, corporate or any other traditional contractual civil relations. It is proved that the private nature of these relations causes risks of violation of the rights of the parties to crowdfunding relations and public interests in cases of lack of proper legal regulation. According to the results of the study, the current legislation does not provide clear, transparent and effective mechanisms to protect donors’ rights in crowdfunding relations due to insufficient regulation of collective financing relations, lack of unity in law enforcement practice in determining the nature of such relations, uncertainty of crowdfunding status. An additional obstacle to resolving these issues at the legislative level is the transnational nature of such relations (the most popular crowdfunding platforms are outside domestic jurisdiction; a large number of projects involving funds are international and do not have a clear identification of their legal status in the public domain) and electronic form od relationships (cryptocurrency assets or platforms that do not provide personal and financial information to the recipient are increasingly used for crowdfunding).