24 Mar '12, 11am
With Senate Bill Passage Crowdfunding Legalization On the Horizon
The legislation will lift SEC restrictions on soliciting investors through advertising and allow companies to use crowdfunding platforms to raise up to $1 million per year from a larger pool of small, unaccredited investors. Small private businesses will also be able to sell up to $50 million in shares through a public offering before having to register with the SEC. With both parties clamoring to be perceived as supporting the growth of business, the bill sailed through the House two weeks ago and has the backing of the President . It will likely be one of the few bipartisan bills to easily pass congress this year.