ESMA has published the consultation documents on the Level-2-Text (Clarification) for the European Crowdfunding Service Provider Regime (R-EU 2020/1503).

The ECSP is relevant for Equity-based and Lending-based Crowdfunding, as well as Crypto-Assets. In the near future, it will also be relevant for Peer-to-Peer Consumer Lending.

The call is intended for a discussion within the AltFinator Policy Network on the Level 2 Texts of the ECSP and the current implementation in the member states of the European Union.