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ARTICLE · 04 NOVEMBER 2026

ECSP Licence For Crowdfunding: Why Dutch Rules Still Apply

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The Dutch crowdfunding market has grown substantially, with platforms raising over one billion euros annually for SMEs, yet navigating the European Crowdfunding Service Providers Regulation alongside national Dutch law creates a persistent regulatory grey area. Many platforms assume an ECSP licence settles all compliance requirements, but the reality is far more complex, with multiple overlapping obligations from the Dutch Financial Supervision Act that continue to apply and are frequently overlooked

European UnionFinance and Banking
Julia Szkodzinska
Julia Szkodzinska
Corinne Schot
Corinne Schot
Rogier De Neeling
Rogier De Neeling
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The Dutch crowdfunding market is evolving rapidly, with business-to-business platforms consistently raising over one billion euros annually for SMEs. This growth is accompanied by the European Crowdfunding Service Providers Regulation (ECSP Regulation), which has been directly applicable in all EU Member States since 10 November 2021. It is the first harmonised European supervisory framework for crowdfunding and aims to promote cross-border service provision and ensure investor protection.

For platform operators, the applicable regime may seem straightforward: an ECSP licence settles the matter. In practice, the situation is far more complex. Whether an activity falls within the ECSP Regulation’s scope, and which national obligations continue to apply alongside it, creates a persistent grey area. This poses substantial risks for platforms that underestimate it.

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