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ARTICLE · 09 DECEMBER 2021

Evaluation Of The Communiqué On Crowdfunding

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The Communiqué on Crowdfunding entered into force by being published in the Official Gazette dated 27.10.2021.

TurkeyFinance and Banking
Nujen Tuncer
Nujen Tuncer
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The Communiqué on Crowdfunding entered into force by being published in the Official Gazette dated 27.10.2021. With the communiqué, the Capital Markets Board of Turkey regulated share-based crowdfunding principles and debt-based crowdfunding. With this communiqué, the Communiqué on Share-Based Crowdfunding published in the Official Gazette on 03.10.2019 is repealed.

After the communiqué on the procedures and principles related to share-based funding, it was necessary to regulate debt-based crowdfunding, as it has taken part in Article 35/A of the CMB.

With the new regulations, the definition of entrepreneur in the definitions section of the communiqué was not limited to share-based crowdfunding. The definition of entrepreneur has been expanded to express "real persons residing in Turkey and legal persons in the form of limited or joint-stock companies seeking funding for their project through share and/or debt-based crowdfunding."

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