Abstract
As of 10 November 2021, Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937 shall apply. This new EU regulation of crowdfunding services is part of a broader package of measures aimed at integrating the so-called FinTech sector into the scope of regulatory frameworks in the EU.
The aim of this article is to provide the reader with insight into the new EU legislation on financial crowdfunding through an analysis of aspects of the scope and relevant exemptions to this regulation, the concept of crowdfunding services, requirements for crowdfunding service providers and difficulties associated with late adaptation of this regulation in the Czech Republic. At the same time, some problematic aspects of the European regulation of crowdfunding are presented, which, in connection with the existing regulations governing the financial market, create legal uncertainty among market participants.