Crowdfunding is a way for businesses to raise money by collecting small investments from many individuals, in return for shares or interest on loans. The European Crowdfunding Service Providers Regulation (ECSPR) is an EU law that regulates platforms offering this form of investment-based crowdfunding, setting common EU-wide rules for investor protection and allowing platforms to operate across borders. Under ECSPR, each business can raise up to €5 million per project per year, while larger fundraising is generally governed by MiFID II, the EU’s main regulatory framework for banks, brokers, and other investment firms operating in traditional capital.