Research On Legal Issues Of Private Savings Crowdfunding Platform

With the wide application of "Internet plus",our life has undergone tremendous changes and injected new vitality into all walks of life.Under this trend,the form of "Internet plus fundraising" is also gradually emerging.Internet private assistance based crowdfunding refers to the act of individuals releasing help information to an unspecified number of people through online platforms to seek economic assistance in order to assist themselves or family members.Internet private assistance based crowdfunding has effectively made up for the shortcomings of China’s social security system,while inheriting excellent traditional cultures such as aiding the poor and helping each other,and has its unique significance.Internet private assistance based crowdfunding has developed rapidly through the characteristics of fast dissemination speed,wide coverage,and convenient operation of internet platforms.However,the Charity Law issued in 2016 did not include internet private interest assistance based crowdfunding within its regulatory scope,resulting in a lack of targeted laws and regulations to effectively regulate internet private interest assistance based crowdfunding platforms.Negative news such as fraudulent donations and fraudulent donations frequently occur.Although the current Civil Code can solve some problems in certain aspects,it cannot fundamentally prevent the occurrence of such illegal activities.If internet private interest assistance based crowdfunding platforms are allowed to develop recklessly,it will not only harm the property interests of donors,but also endanger the credibility of charitable undertakings,causing an impact on social order and good customs.Therefore,it is urgent to formulate corresponding laws and regulations to guide the healthy development of the platform.Currently,there are issues with internet private interest rescue crowdfunding platforms,such as unclear access standards and regulatory bodies,insufficient information disclosure and review mechanisms,risks in platform custody funds,unclear ownership of remaining assets and platform responsibilities.Walking on the edge of law and morality has caused strong doubts among the public about internet private interest rescue crowdfunding platforms,overdrawing the cost of trust between individuals,and triggering a series of social problems,It hinders the healthy and orderly development of China’s charity industry.The United States,the United Kingdom,and Germany are three countries with mature crowdfunding platform models,and their legislation on crowdfunding platforms is highly representative.In the United States,using third-party custodians to manage crowdfunding;In the UK,establish charity specific legislation and increase the transparency of information on crowdfunding platforms.The requirements for information disclosure on crowdfunding platforms are similar to those of listed companies;The entry and exit of crowdfunding platforms in the UK and Germany must undergo strict scrutiny by professional institutions.Based on the relevant extraterritorial legislative experience,targeted opinions and suggestions are proposed to address the problems that exist in practice.Firstly,the regulatory status of the civil affairs department is clarified,and the civil affairs department and relevant departments jointly formulate the qualification recognition standards for internet private interest rescue crowdfunding platforms;Secondly,clarify the specific scope of information disclosure and hold accountable those who violate information disclosure regulations,and jointly establish an information sharing system with various social departments to strengthen the review of seeking help information;Thirdly,introduce third-party custodian institutions to manage funds,effectively preventing crowdfunding platforms from misappropriating crowdfunding funds;Fourthly,clarify the reasonable attribution of the remaining funds.Internet private interest rescue crowdfunding platforms can represent donors to donate the remaining funds to similar charitable projects.Improve the civil liability investigation mechanism of Internet private interest rescue crowdfunding platforms,clarify the principle of fault presumption as its liability principle,and explore whether the behavior of crowdfunding platforms directly leads to the occurrence of infringement results in terms of the scope of liability,If the behavior of the crowdfunding platform directly leads to the occurrence of infringement results,the crowdfunding platform shall bear the liability for infringement or breach of contract.If the platform is not at fault and strictly fulfills its obligations,and takes necessary deletion or blocking measures after receiving notification from the rights holder,the platform will not be liable.