On Antonio Ranalli’s focus, Francesco Dagnino explains: «The subjects to whom the Crowdfunding Regulations apply are: the bidder, i.e. the promoter of the project to be financed; investors, i.e. those who adhere to the offer by investing capital; and the platform provider, frequently a fintech company that professionally manages online portals for the collection of risk capital which is recorded in a special register kept by Consob. …»