Senate Passes Crowdfunding Bill 73-26 (With Protections)

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Crowdfunding is closer to reality!

Well, this just in from a dispatch on Capitol Hill: The Senate has passed legislation that will essentially legalize crowdfunding in startups by practically anyone, even your mom. U.S. Senators Scott Brown (R-Mass.), Jeff Merkley (D-Oreg.), and Michael Bennet (D-Colo.) collectively introduced the “CROWDFUND Act” (S. 2190) earlier this month, which adds measures to the House of Rep’s now well-known JOBS Act to ensure that companies would be able to use SEC-approved crowdfunding platforms to raise money from “small-dollar investors.”

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