Equity crowdfunding is about to come to unaccredited investors the United States, but some of the Securities and Exchange Commission’s proposed rules are hugely impractical.
If we don’t push the agency to implement some fixes, crowdfunding may be dead on arrival.
It’s historic when Congress passes legislation with nearly unanimous bipartisan support. Such was the case with crowdfunding in 2012: It passed the House with 96 percent approval and the Senate as part of the JOBS Act with 73 percent approval — not too bad in an era of “broken Washington.” It has been almost two years since President Obama signed the bill into law. In October 2013, the SEC released 585-pages of proposed rules for debt and equity crowdfunding.
Image: Eric Blattberg / VentureBeat
To read the original article: How to save crowdfunding before it’s dead on arrival | VentureBeat | Business | by Sherwood Neiss & Jason Best, CCA
