A motley crew of backers is pushing Congress to loosen restrictions on crowdfunding, the new capital-raising method that uses the Internet to solicit start-up investment, despite warnings about the potential for fraud.
Popularized by online platforms such as Kickstarter and Kiva, crowdfunding currently relies on a donation-style model where fans of an artistic project, venture or nonprofit campaign pledge money in exchange for early product or philanthropic fulfillment.
It seems in Washington, almost everyone is a fan, from conservative Republicans to grassroots liberals; a recent House bill to ease crowdfunding restrictions passed 407-to-17.
To read the full, original article click on this link: Race to relax crowdfunding rules invites strange bedfellows | Reuters
