On November 10, 2022, the two-year transitional period in the European Crowdfunding Regulation (Regulation (EU) 2020/1503 – “ECSP Regulation“) will expire. A authorization under national law (e.g. under the German Banking Act (KWG) or the German Trade Regulation Act (GewO)) will no longer be sufficient from this date. The new uniform European authorization under the ECSP Regulation will be mandatory. The same applies even if there is no cross-border reference.
- The ECSP Regulation serves to foster cross-border crowdfunding services and creates a uniform European framework for this purpose.
- Within its scope of application, it enables the activity of a [...]