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Loit Linnupõld, CEO of Crowdestate Estonia, is receiving the trust marker of crowdfunding Code of Conduct.
Crowdfunding is gathering more and more momentum in Estonia, but is not directly regulated by any laws.
FinanceEstonia, a public-private financial sector cluster organization with the aim of enhancing financial sector internationalization, supporting innovation and increasing capital availability, approved and published Estonian Crowfunding Code of Conduct in May. The initiative for Code of Conduct came from five crowdfunding platforms Crowdestate, EstateGuru, Bondora, Fundwise and Investly. Law firm Deloitte Legal, Ministry of Finance and Estonian Financial Supervision Authority took an active part in creating the requirements.
The Crowdfunding Code of Conduct is a collection of rules and principles that any crowdfunding platform should follow. The requirements are made to protect the interests of the investors, and to ensure the transparency of the crowdfunding business.
The platforms complying with the requirements of Code of Conduct are awarded a trust marker. Detailed information and the requirements of Crowdfunding Code of Conduct are published on the FinanceEstonia website (in Estonian only).