Crowdfunding within the framework of Turkish, US and EUregulations

In today's world, a wide variety of funding systems have been developed in order to create different kinds of business models. One of them is crowdfunding. Crowdfunding is a finch service that makes financial services portable. Although crowdfunding appears in four different models, in this study, explanations mostly are made about the equity and lending models are evaluated due to the scope of regulations. After the 2008 financial crisis, crowdfunding was based on realization of innovative business ideas with low transaction costs by entrepreneurs in need of financing. In this case, while the entrepreneur gets financing without incurring the costs of the public offering, many investors will be able to invest in small amounts of entrepreneurs' ideas. Since the entrepreneur expects funds from a large number of investors, the investor base will be quite large, and as it will need protection, it will be a subject matter of capital market law regulations. In our study, together with the crowdfunding regulations in Turkish law, the US and EU regulations will also be discussed. In the first part of the thesis, crowdfunding will be examined in general. In the second part, the US and EU regulations will be discussed, and in the third part, Turkish crowdfunding regulations will be examined and in the last part, legal regime of relationship between crowdfunding parties and liabilities will be determined.