Ardent followers of the drafting and debate over the legislation creating a crowdfunding exemption know that the efficacy of any resulting legislation, both in terms of making it easier for entrepreneurs and small businesses to raise capital (which is the stated goal) and in terms of protecting investors, will depend heavily on the details of the legislation. This article looks at the proposed Senate bill creating a crowdfunding exemption and sounds an alarm over the Senate bill's definition of intermediaries, which might reduce the bill's effectiveness in practice.
- Summary by FizzLaw Team
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Crowdfunding legislation…the devil is in the details…