A Comparative Analysis Of Crowdfunding Platform Regulation In China And United States

As an emerging concept of Online Finance,Crowdfunding precisely meets the mutual requirements between the startups and the folk capital,as a result,it grows rapidly soon after being introduced to China.However,due to the nature of Crowdfunding and the absence of specific regulation on Crowdfunding,it brings Crowdfunding with a relevant high legal risk under the Chinese law background.United States is one of the first countries which have mature regulation on Crowdfunding,it has already established a regulation system with JOBS Act and SEC Final Rules,it certainty would benefit a lot to study and research on it.As an intermediary in the Crowdfunding transaction,regulation on Crowdfunding platform is correspondently very important in the whole regulation system.Due to the cost calculation,most of the Crowdfunding platform in operation is non-governmental.Thus,how to design a regulation system for them is obviously quite important.Based on the consideration of protecting the investors and circulating the capital,U.S.created the Funding Portal Rule to allow grass-rotted Crowdfunding platform,it imposes several duties,focusing on information prevail and risk prevention,on the platform and finally establish a wide-ranging regulation system.This article focuses on the Chinese and U.S.regulation background for the Crowdfunding background.By contrast study method,combining with the specific value and position of the Crowdfunding and Crowdfunding platform,this article is trying to analysis the future regulation establishment on Crowdfunding platform and provides with some thoughtful suggestions.This article contains three parts,including introduction,text and epilogue,the text is divided into four sections.The First section mainly introduces the special value and position of the Crowdfunding platform and the normal operation manner in China,aiming to have a primary and correct understanding of this emerging finance concept.Section Two introduces the legal risk for the Crowdfunding platform in China.Section Three mainly introduces the relevant U.S.regulation,especially the funding portal rules.The last section focuses on the judicial movement under the background of registration reform in new era,with a hope of providing several useful and thoughtful suggestions.