Crowdfunding on European level is going through changes. As of Nov. 10, 2021 regulation on European crowdfunding service providers for business has come into effect. Already established providers of crowdfunding platform can enjoy 1 year grace period and continue its business under a national regime. New providers of crowdfunding will have to adhere to the new regulation as bundled with a directive on European crowdfunding service providers, which amends MiFID II.
The regulation and directive shall bring overall legislative harmonization on EU level for crowdfunding providers including harmonized supervisions on national level, regulation of risk management and governance, information disclosures and better protection for the investors.