New unified rules in the EU for crowdfunding projects
The EU Commission has adopted Regulation no 2020/1503 and Directive no 2020/1505 to create unified ruled for crowdfunding. The rules come as this kind of financing has gained more and more popularity but also fraudulent cases have increased (quite a few in Estonia).
The afore-mentioned Regulation came into force on the 9th of November but will be fully applicable from the 10th of November 2022. By that time, the projects in the scope of the Regulation need to have the relevant license, this also means existing projects already today. We will cover more details of the Regulation in the future.
Also important to note that the licensing in one EU country will reciprocally be accepted in other EU countries.