近年來，由於網際網路的普及與互聯網技術之應用，諸如雲端計算、搜尋引擎、社交網絡、大數據、數據挖掘以及行動支付等，掀起了一股網路經濟的浪潮，連帶地衝擊到了傳統金融固有領域，這股浪潮為傳統金融結構帶來的改革創新的壓力，並且加劇了跨領域的競爭與合作關係。群眾募資以迥異於傳統資金借貸方式，藉由網路社群力量，透過募資平臺募得資金，已成為當前全球最熱門的集資管道。本文先從群眾募資之基本概念及運作類型出發，並分析新興金融模式與現行法制規範之牴觸與解套辦法。其次，則介紹美國現行對於群眾募資之法制規範，並簡述我國目前群眾募資發展現況。最後，再分析及探討證券商辦理群眾募資平臺業務之相關規範，期能引導我國群眾募資能邁向正面健全的發展。

In recent years, due to the advancement of technology and the popularization of the internet, the wholly new finance model, which is different from direct finance and indirect finance, has reshaped the traditional finance market. Generally speaking, there are six operation models of internet finance: third-party payment, P2P lending, crowdfunding, the finance of big data, the portal of internet finance and virtual currency. Internet finance is a combination of technology and finance, which has opened a wave of network economy. Obviously, the network economy has not only put pressure on the traditional finance structure to reform and innovate in a more speedy fashion, it also deepens both competition and cooperation between different fields. Crowdfunding is quite different from the traditional way of lending, but by the power of internet community, funds raised through fund-raising platforms have become the world's most popular fund-raising channel. This paper will introduce the basic concept and operation models of crowdfunding and analyze the conflict and possible solution between the emerging financial models and existing legal norms. Secondly, this paper will explore the current US legal norms for crowdfunding and outline the current development of crowdfunding regulations in Taiwan. Finally, with the hope to help crowdfunding in Taiwan to develop positively and soundly, this paper will analyze and discuss the regulation of equity crowdfunding platforms business operated by the security firms.