Crowdfunding is a novelty in the financial world that most countries have not yet regulated. It is a non-traditional way of financing various projects, undertakings or businesses through in most cases small cash contributions and investments by individuals, mainly through the Internet.

Given that this phenomenon is becoming increasingly popular and is gaining importance due to the fact that this form of financing usually supports small and medium enterprises, it is important to work on a regulation which is as complete as possible.

Does the Commission plan to adopt specific legislation that would regulate crowdfunding in each Member State in order to encourage SMEs to use this financing instrument, and also in order to relax administrative obstacles? What does the Commission consider should be done in each Member State in order to ensure a positive climate for the further growth and development of crowdfunding?