“…In the ASEAN countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam), there is also an active discussion about the need for a regulatory impact on the crowdfunding market, while several regulation models of relations are currently noted in this region in the field of crowdfunding: model 1: unregulated but not prohibited mode; model 2: regulated mode: regulated under bespoke regulation individual regulation; model 3: regulated mode: regulated under existing legislation [4]. Thus, stating that in developed and developing countries the regulatory process in the crowdfunding market is moving forward, we note one more moment that is most important in our opinion.…”