A report from the European Crowdfunding Network (ECN) and partner Toniic, have published a report on Crowdfunding for Impact in Europe and the USA. The document was authored by Oliver Gajda, co-founder and Chairman of the ECN and Nick Mason, who is a former consultant at Tonnic presently working for Young Philanthropy in London.
ToniicThe report acknowledges the many challenges in the path of crowdfunding for both Europe and the United States but concludes these risks should be mitigated via solid regulatory frameworks and a competitive environment. Within the European markets pan-European crowdfunding is hindered by the diverse national regulatory theaters for each individual country – something the EU must address. In the United States proposed rules by the SEC, along with FINRA, are currently in a commenting period with final refinements expected in 2014.
Despite the obstacles, the report is optimistic about investment crowdfunding and the associated societal benefits.