Regulatory Evolution: Addressing Challenges and Enhancing Legal Certainty in Indonesian Donation-Based Crowdfunding Services

Abstract

Donation-based crowdfunding (DBC) has grown in Indonesia, and to ensure sustainability and fairness in DBC services, there is a need for adequate regulation. One approach that can be taken to achieve this is through regulatory evolution. The transformation of regulation in Indonesia's DBC services reflects the ability to adapt to challenges that arise over time. This article discusses the regulatory developments that have been made in response to the dynamics and complexity of DBC services, as well as efforts to improve legal certainty in them. The centre of attention in this regulatory evolution is to respond to the various challenges faced by organizers and participants in the DBC ecosystem. With increased legal certainty, it is hoped that a strong foundation can be built for the growth of crowdfunding services in Indonesia for the welfare of society.