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You are reading Does the Spanish government want to restrict Verkami? We answer your concerns!

Does the Spanish government want to restrict Verkami? We answer your concerns!

on March 03, 2014 in Verkami News

Last Friday the Spanish Cabinet made an announcement that caused some alarm because it appeared to be the first step in restricting what we’ve been eagerly doing here on Verkami for over three years and which has helped get over 1,850 projects up and running by raising over €9 million, not to mention the huge social and cultural impact it has had.

After some initial uncertainty, we’ve examined the draft bill—which you can read here—and can now answer some of your concerns:

Does the Spanish government’s proposal restrict Verkami?

No. The text explicitly stipulates which kinds of crowdfunding it refers to and it excludes we do here on Verkami:

Article 47. Scope.

*Participatory Fundraising Platforms shall not be taken to include any organisations whose purpose is to help raise funds to carry out projects

(business or otherwise) by means of:*

a) Donations

b) Buying and selling, including cases where delivery may be at a later date

c) Interest­free loans

So not all kinds of crowdfunding are alike?

No. Basically, there are four different types of crowdfunding:

  1. Reward crowdfunding: This is the commonest type in general and on Verkami in particular. In exchange for their pledges to help get projects off the ground, patrons always receive something related to the project in return, such as a cultural item, an experience, a service, etc.

  2. Donation crowdfunding: This involves asking for donations to get a project off the ground in exchange for nothing in return, apart from the satisfaction of seeing the project succeed. In general this type is used by organisations in the third sector, NGOs, etc.

  3. Investment crowdfunding or equity crowdfunding: Investors receive a share of any profits made by the company or project.

  4. Peer­to­peer lending or Crowdlending: This involves asking for money in the form of a loan, whereby the project promoter has to return the loan within a given time with the agreed interest.

On Verkami, the projects we accept and promote are basically Type 1 and sometimes Type 2, but not Type 3 or Type 4.

Investments and loans were already tightly regulated in Spain in order to protect small investors from fraud—and it’s these kinds of campaigns the Spanish government’s proposal is aimed at. Given the risky nature of some investments, we welcome any protection of small investors that helps avoid a repeat of cases such as the preferential share swindle, which had a sizeable impact here in Mataró.

But don’t you think there should be tighter regulation of what you do on Verkami?

In legal terms, the reward crowdfunding on Verkami is classed as an “advance payment” for a future purchase or acquisition of goods or services and is therefore covered by both Spanish and EU legislation. Even so, there is a need for clear, updated regulations that recognise the importance and value of crowdfunding in promoting all kinds of social and cultural initiatives.

We urge the Spanish government to:

  • Talk to us, as the leading crowdfunding portal in Spain and southern Europe, as well as to the Spanish Crowdfunding Association.

  • Support social and cultural crowdfunding.

  • Introduce incentives to people who make pledges that get creative or social projects off the ground.

  • Cut the rate of VAT on all cultural goods and services to 4%, as a means of supporting this basic right.

Our friends and colleagues at Crowdacy and TecnolONGia have also commented on the Spanish government’s proposal and we recommend you take a look to find out more.

The Verkami team

9 comments

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  • Jonàs Sala

    Jonàs Sala
    Verkami

    over 5 years

    Un placer! Entre todos estamos cambiando la forma de entender, disfrutar y producir la cultura. Y esperemos que si se regula nuestro modelo, sea para protegerlo y promoverlo, trabajaremos para que así sea.

    Gracias a vosotros por la confianza y por hacer posible la magia!

  • Eva Alfonso

    Eva Alfonso

    over 5 years

    Me alivia leer esta explicación, pensé que era otra manera para no dejar construir bellos proyectos entre todos ...
    La verdad es que el tema de crowdfunding hace pensar en otros tipos de organizar y gestionar la distribución de recursos de una sociedad...
    Gracias verkami

  • Elisa

    Elisa

    over 5 years

    Querría felicitaros por lo bien que trabajáis tanto dando soporte a proyectos como ahora explicando tan claramente esta notícia. Seguid así. Os necesitamos.

  • Kolmogorov

    Kolmogorov

    over 5 years

    Me parece una aberración como muchas otras de este patético gobierno (por otra parte bastante en linea con lo habitual en Spain). No entiendo a quién están intentando proteger.... pero no es a los usuarios. Any ideas? En fin... animo!

  • Jonàs Sala

    Jonàs Sala
    Verkami

    over 5 years

    Mil gracias por vuestro apoyo y reflexiones!

    Seguiremos atentos cualquier evolución y trabajaremos porqué nuestra voz se escuche y para crear un espacio dónde el crowdfunding pueda desarrollarse plenamente en todas sus expresiones.

    ¡Juntos somos muy fuertes!

  • Dolyña

    Dolyña

    over 5 years

    La explicación está clarísima.
    Gracias.

  • ComandantCM

    ComandantCM

    over 5 years

    Si, en efecte, també penso que el capital vol mantenir controlat el mercat.
    El text de Verkami és assenyat i hauria de trobar-se un equilibri entre els impostos per una venda ajornada en el temps i sense certesa i les exempcions de les persones que aporten.

    Sí, en efecto, comparto la opinión que el capital quiere mantener el mercado controlado.
    El texto de Verkami es prudente i debería haber un equilibrio entre los impuestos por una venta dilatada en el tiempo y incierta i las exenciones a las personas que hacen aportaciones.

  • Salvador

    Salvador

    over 5 years

    Tiemblan los poderosos!! Me alegra que esta regulación no afecte al crowdfunding de Verkami, n obstante debe regularse, creo, en base a la ley de donaciones, pero no para coartar las donaciones/participaciones en proyectos sociales yt culturales, sino para beneficiar fiscalmente esta figura.
    La buena señal? Cuando desde el poder se intenta poner obstáculos al crowfunding es una señal que la banca ha decidido protegerse en lugar de crear alternativas reales a esta propuesta o involucrarse en ella ( véase The Innovator's dilemma, the Clayton Christensen ). Y eso es positivo

  • Begoña Cebrián

    Begoña Cebrián

    over 5 years

    Menos mal que no os han vetado, ni estrángulado. Faltaría más!. Si es la salida más inteligente para mover ciencia, cultura y conciencia social.

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