The European Commission has published a proposal for a Regulation on European crowdfunding services providers. The legislative proposal for a European crowdfunding regime is not intended to interfere with national bespoke regimes or existing licences, including those under MiFID II, the PSD2 or the AIFMD, but rather to provide crowdfunding service providers with the possibility to apply for an EU label that empowers them to scale up their operations throughout the EU under certain conditions. Under the proposal, a crowdfunding service provider can choose to either provide or continue providing services on a domestic basis under applicable national law or seek authorisation to provide crowdfunding services under the proposed Regulation. In the case of authorisation under EU rules, authorisation covers both the provision of services in a Single Member State and on a cross-border basis. If the provider chooses to apply the EU rules, authorisation under the applicable national…
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