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A draft amendment put forward by Democratic Progressive Party (DPP) legislators on Thursday would require crowdfunding platforms to offer greater consumer protection. Projects seeking financing via crowdfunding are increasingly becoming contentious, DPP Legislator Michelle Lin (林楚茵) said, citing Consumer Protection Committee statistics showing nearly 1,000 crowdfunding disputes over the past two years. The Consumer Protection Act (消費者保護法) and other laws do not regulate entrepreneurs seeking financing through crowdfunding or hold them accountable for promises made to investors, she said. Crowdfunding platforms need to be regulated by a government agency, she said, adding that common disputes involve delayed delivery, a venture disappearing

T ai peiRosalia wuHsieh chun linMichelle linLiu ya chuanWu cheng hsuehChao tien linDepartment of consumer protection deputyDemocratic progressive partyConsumer protection committeeTaipei timesJake chungConsumer protection actFang pin chaoEconomic affairs departmentCommerce deputy director liu ya chuan