Baku: The draft law "On Crowdfunding" has been adopted in the third reading at today's session of the Milli Majlis, APA reports. The newly passed legislation aims to establish a comprehensive framework for crowdfunding activities within the Republic of Azerbaijan.

According to Azeri-Press News Agency, the law consists of 7 chapters and 23 articles. It addresses the legal, organizational, and economic foundations necessary for implementing equity- and debt-based crowdfunding. Additionally, it outlines the requirements for the operation of crowdfunding platform operators and details the state's role in the regulation and supervision of these activities. The law is set to come into force six months from the date of its publication.