Crowdfunding exceeding the following amounts is considered illegal fundraising: 1. Illegal crowdfunding by individuals exceeding 200,000; 2. Illegal crowdfunding by entities exceeding 1 million is considered illegal fundraising.

At present, according to the relevant provisions of national laws and regulations, the so-called illegal fund-raising refers to the issuance of stocks, bonds, lottery tickets, investment fund securities or other debt certificates by units or individuals without the approval of relevant departments in accordance with national legal procedures.

The act of raising funds from the public and promising to repay principal and interest or provide returns to investors in currency, kind, or other ways within a certain period of time.

The characteristics of illegal fund-raising are as follows: 1. Fund-raising activities that have not been approved by relevant departments in accordance with relevant regulations; 2. The relevant departments with approval authority exceed their authority to approve fund-raising, that is, when the fund-raiser does not have the qualifications to be a fund-raising subject; 3.

A commitment to repay principal and interest to an investor within a certain period of time.

And they raise funds from unspecified objects in society, and even cover up the essence of their illegal fund-raising activities in legal forms.

Laws and Regulations Article 172 of the Criminal Law of the People's Republic of China and the People's Republic of China Crime of illegally absorbing public deposits Whoever illegally absorbs public deposits or absorbs public deposits in disguised form and disrupts financial order shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention, and shall also be sentenced to

Or a fine alone; if the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years, and shall also be fined; if the amount is particularly huge or there are other particularly serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than ten years and shall also be fined.

If a unit commits the crime in the preceding paragraph, the unit shall be fined, and the person directly in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.

Anyone who commits the acts in the preceding two paragraphs and actively returns the stolen goods and compensates before filing a public prosecution to reduce the damage will be given a lighter or reduced punishment. Article 192: Crime of Fund-raising Fraud: For the purpose of illegal possession, using fraudulent methods to illegally raise funds, the amount

If the amount is huge or there are other serious circumstances, the offender shall be sentenced to fixed-term imprisonment of not less than three years and not more than seven years, and shall also be fined; if the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than seven years or life imprisonment, and shall also be fined or his property shall be confiscated.