bricslawjournalBRICS Law JournalЮридический журнал БРИКС2409-90582412-2343Publishing House V.Ема10.21684/2412-2343-2023-10-3-4-18bricslawjournal-871Research ArticleARTICLERegulating the Unregulated: The Advent of Fintech Regulations and Their Impacts on Equity-Based CrowdfundingAydemirM.

PhD Candidate in Islamic Finance and Economy, College of Islamic Studies, Hamad Bin Khalifa University

P.O. Box: 34110, Education City, Doha

murat43512@hbku.edu.qaAysanA. F.

Professor & Associate Dean for Research, College of Islamic Studies, Hamad Bin Khalifa University

P.O. Box: 34110, Education City, Doha

aaysan@hbku.edu.qaHamad Bin Khalifa UniversityQatar202311102023103418Copyright © Aydemir M., Aysan A.F., 20232023Aydemir M., Aysan A.F.Aydemir M., Aysan A.F.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://www.bricslawjournal.com/jour/article/view/871

The concept of equity-based crowdfunding (ECF) has become one of the latest innovative financing alternatives for startups and SMEs throughout the world during the last decade. This article aims to assess the revised crowdfunding directive of Turkey and its role in the development of the ecosystem. The concept of ECF is elucidated with its stakeholders, challenges, and solutions. Then the effect of the revised regulation is analyzed through a case study of the first active ECF platform in Turkey, Fonbulucu. Finally, the article discusses the potential improvements to the existing directive considering the practices of Fonbulucu.

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The authors declare that there are no conflicts of interest present.