Programme: Good Governance

Crowdfunding is increasingly seen as an established form of alternative financing for start-ups and small and medium-sized enterprises (SMEs), which tend to rely on small investments.
At the same time, the regulatory obligations for the use of such platforms for Bulgarian consumers still remain unclear and unknown. What happens when we buy "shares" through applications such as eToro or buy the so-called NFTs? What happens when we buy part of a company through platforms like Crowdcube? Do we owe tax on possible profits, what should we declare, who can protect us if we become a victim of fraud from such a platform? Questions to which there are no clear and simple answers, and in which technology often precedes the development of the regulatory framework.
In response to these challenges, the main goal of this project is to support the administration's efforts to raise awareness on topics related to the introduction and use of innovative financial products / services through analysis and monitoring of regulations in the field of crowdfunding and the alternative FinTech industry.
Activities:
1. Preparation of a monitoring analysis of the Bulgarian regulatory framework and a compendium of good practices in the field of crowdfunding in the European context.
2. Preparation of thematic recommendations to the competent authorities related to crowdfunding.
3. Conducting a series of online information webinars to present and raise awareness on crowdfunding and the applicable norms for end users.
Expected results:
- Report from the conducted analysis - 1;
- Recommendations made - 4 pcs.
- Conducted information events - 2 pcs.
The target groups addressed by the project include: the Financial Supervision Commission, the Economic Policy and Innovation Committee of the National Assembly, DANII, the general public, entrepreneurs, investors, users of collective financing platforms.