Abstract

The dynamics of equity crowdfunding in Indonesia reflect the advancement of policies that are increasingly responsive to financial technology innovations, aimed at expanding access to financing while ensuring stability and legal protection. This scheme presents significant opportunities in terms of enhancing financial inclusion, providing capital access for SMEs and startups, as well as enabling public participation in investments. The research methodology employed is normative legal with an approach based on legislation, conceptual analysis, and legal comparison. The findings indicate that equity crowdfunding has experienced substantial growth, with total funding reaching over Rp1.4 trillion by the year 2025. However, there are significant legal challenges, including investor protection, information transparency, legal certainty, and the potential risks of platform misuse amidst low financial literacy. From a legal perspective, a comprehensive strategy is required through the strengthening of adaptive regulations, enhanced supervision, and the implementation of stricter information disclosure principles. Additionally, legal education and financial literacy for the public, along with synergy between regulators and industry players, are crucial in building a credible ecosystem. Thus, the success of equity crowdfunding development in Indonesia heavily relies on the legal system's ability to balance innovation and protection, in order to create a safe, transparent, and sustainable ecosystem.