Crowd funding Regulation in the Baltic Region
Tomas Sadzius, Dr. Linas Sadzius

Abstract
The start of the global financial crisis in 2008-2009 and the post-crisis period jumpstarted the search for new, alternative ways to fund various innovations and projects. In the age of financial technology, crowd funding platforms, which first began their business in the leading technology-developing countries in the world such as the United States of America and the United Kingdom, began to operate in Estonia, Latvia, and Lithuania, otherwise known as the Baltic region. Crowd funding has attracted not only creators of new and innovative projects but also investors, businesspeople, and consumers. Due to both objective and subjective reasons, this financial instrument that has recently emerged on the global financial markets has been fully regulated only in Lithuania out of all three Baltic States –the National Law on Crowd funding was adopted at the end of 2016. This article analyzes the legal regulation of the activities of crowd funding platforms in the three Baltic States and the similarities and differences of this process.

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