CROWDFUNDING SYSTEMS: evaluation and government regulation in the conditions of reengineering

Let us look at the proposed tools in more detail, since each of them is characterized by certain features. Improving the legal framework is necessary for the development of crowdfunding because, without an appropriate legislative regulation in the state, only crowdfunding based on charitable contributions can exist. In the context of Ukrainian legislation, the concept of «crowdfunding», «crowdinvesting», «crowdfunding activity», «crowdfunding project», «crowdlending» and others should be included in the Tax Code of Ukraine, the Labor Code of Ukraine, the Economic Code of Ukraine and other necessary legal acts. The activities of moderators of crowdfunding platforms and other intermediaries should be considered at the legislative level as a type of business activity. Improvement of the already existing legal framework in Ukraine in the context of crowdfunding should include the changes in such regulations as the Law of Ukraine «Development and state support of small and medium entrepreneurship in Ukraine», Law of Ukraine «Financial services and state regulation of financial services markets», Law of Ukraine «Prevention and counteraction to the legalization of income, received from crime, financing of terrorism and financing of proliferation of weapons of mass destruction (laundering)» and many others. It should be noted that Ukraine does not have a comprehensive program for the development of crowdfunding activities, which would contain actions aimed at creating favorable conditions for the development and dissemination of this financial instrument. However, some aspects of regulating the financial resources attraction by a business can be observed in certain business development programs. In particular, support for small and medium-sized businesses in Ukraine is provided through the use of: 1. The official portal of the EU COSME program to support small and medium-sized businesses. COSME allows you to get information and recommendations on entering the European Union market and the markets of the program's partners, get access to information about international business rules, and implement your own business internship in a certain foreign country. Ukraine signed an agreement on this program in 2016 and was among the top ten countries that joined the program. This program supports projects of various directions, and its total budget is more than $2. Ukrainian entrepreneurs can participate in the program for the amount of €900 million (Cosme). 2. Ukrainian Entrepreneurship Support Fund. It specializes in providing financing for state, inter-regional, regional and sectoral business 107