Nature of Crowdfunding
What is donation based crowdfunding?
"In donation-based crowdfunding, investors act as donors and do not expect anything in return for their contribution. Usually this type of crowdfunding appeal is used by artistic and charity projects, and by social enterprises."
"MAS regulations are not applicable to reward-based crowdfunding. However, the Commissioner of Charity (COC) has established a code of practice for online charitable fundraising appeals. It is designed to ensure accountability, legitimacy, and transparency of charitable appeals. It requires online fundraisers to complete a declaration of compliance with the fundraising regulations."