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1 Sb'u Hogue M.J., Step by Step Crowdfunding: Everything You Need to Raise Money from the Crowd, 2015:
; Sb'u Rose N.. Equity Crowdfunding: The Complete Guide For Startups And Growing Companies (Alternative Finance Series Book), 2016:
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:: Sb'u Stegmaier J., A Crowdfunder's Strategy Guide: Build a Better Business by Building
Community, 2015:
4 Sb'u Brlggman S., Nonprofit Crowdfundlng Explained: Online Fundralsing Hacks to Raise More for Your Nonprofit, 2016:
5 Sb'u Dakdakl M., Crowdfundlng as a source of finance. Crowdsupportlng, Crowdlnvesting, Crowdlendlng, Crowddonationg, 2016:
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b Financial Conduct Authority: A review of the regulatory regime for crowdfunding, t"2 1, 2015,
https://www.fca.org.uk/publicatlon/thematic-revlews/crowdfunding-revlew.pdf.
7 Sb'u Fundera: Crowdfunding Statistics,2020: Market size and growth, 2020, https://www.fundera.com/resources/crowdfunding-statistics:
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8 Sb'u Statists: Crowdfunding, 2020, https://www.statista.com/outiook/335/100/crowdfunding/worldwide:
9 Sb'u Cambridge Center for Alternative Finance: The Global Alternative Finance Market Benchmarking Report, 2020:
14
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10 Sb'u Fundera: Crowdfunding Statistics (2020): Market size and growth, 2020, https://www.fundera.com/resources/crowdfunding-statistics:
11 Sb'u <wjwumwb|n l|bbmpnbwl|wb r|.bujnq|niiwp|iw, linbmp|n mi|juj[bbp, 2020:
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https://www.arl is. am/DocumentView.aspx?DoclD = 58641:
15 Sb'u U.S. Securities and Exchange Commission: Regulation Crowdfunding, 2017:
requirement): Ujb bb|auir|.pnLd t l|luu|fiuilu|ji npn2lul|fi duil|lupr|.lul|, npp haip-|auil|bbpp u|binp t mbbbuib |npbtig qnpônLbbmpjnLbp ul|uti[nLg ainaig, fiul| bbpr|.pnrlbbpp, haip|aail|fi dfigngnil tibpr|.pnLJtibp l|aiLnaipti[nLg ainaig:
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lb Sb'u U.S. Securities and Exchange Commission: Report to the Commission Regulation
Crowdfunding, 2019, https://www.sec.gov/fiies/reguiation-crowdfunding-2019_0.pdf:
17 Sb'u Financial Conduct Authority: A review of the regulatory regime for crowdfundlng, 2015, https://www.fca.org.uk/publlcation/thematic-reviews/crowdfunding-review.pdf:
18 РИЪРЬР CnSC 2020.2
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1B Sb'u European Bank: Regulating Investment and Lendlng-Based Crowdfunding, t"2 16, 2018: 19 Sb'u Organisation for Economic Co-operation and Development: Regulatory framework for the
Lendlng-based Crowdfundlng platforms, t"2 25, 2018: JU Sb'u Banks.am: Banks- Armenia vs Georgia, 2017, https://banks.am/en/news/intervlews/13787: Sb'u « opbbj3[i i[bb^riLpujj|ib h|nJbwr|.pwi[bbp|i Juju|nb, 2012, http://www.parllament.am/drafts.php?sel=showdraft&DraftlD=5698&Readlng = 0: ^ <wjwumwb|n L|bbmpnbujL|Ujb r|.bmnq|imujp|iuj, 2018-2020 pp. nwqdwi|wpnL|ajnLb, http://www.armbanks.am/hy/2018/07/25/115277/:
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АНУШ ГАСПАРЯН
Ассистент кафедры финансового учета АГЭУ,
кандидат экономических наук
АЙК КАЛАНТАРЯН
Студент 3-ого курса факультета бухгалтерского учета и аудита АГЭУ
Перспективы регулирования краудфандинга в Республике Армения.- Целью исследования является изучение рынка краудфандинга на глобальном уровне, определение его возможностей и роли в экономическом развитии, а также изучение законов и других нормативных актов, необходимых для его эффективного регулирования. Целью статьи является выяснение того, как регулирование краудфандинга работает в странах, которые возглавляют этот рынок, его особенности и перспективы, а также соответствующие рекомендации для армянского рынка в результате анализа. Исследование показывает, что только в случае законодательного и эффективного регулирования рынка краудфандинг может стать одним из важнейших источников альтернативного финансирования для экономики Армении, что поспособствует эффективному регулированию финансовых рынков и открытию новых инвестиционных возможностей для простых инвесторов и предоставление новых способов привлечению средств для бизнес-проектов.
Ключевые слова: краудфандинг, альтернативное финансирование, финансовые рынки, частный инвестор.
JEL: D53, G11
ANUSH GASPARYAN
Assistant Professor at the Chair of Financial Accounting at ASUE,
PhD in Economics
HAYK KALANTARYAN
3rd year BA Degree Student at the Department of Accounting and Auditing at ASUE
Crowdfunding Regulation Perspectives in the Republic of Armenia.- The research aims to study the global crowdfunding market, Identify its opportunities and role in economic development, as well as study the laws and regulations required for its efficient regulation. The goal of the paper is to find out how crowdfunding regulation works in the countries leading in this market, its characteristics and prospects, as well as relevant recommendations for the Armenian market as a result of the analysis. The study shows that only effective market regulation can make crowdfunding one of the most significant sources of alternative financing for the Armenian economy, thus ensuring and contributing to the effective regulation of financial markets and opening up new investment opportunities for ordinary investors and providing new ways for business projects to collect money.
Key words: crowdfunding, alternative financing, financial markets, private investor. JEL: D53, G11
