Senate Passes Altered JOBS Act
The senate has passed the JOBS Act 73-26 as of this Thursday afternoon, but an amendment has been added, & the Act will not be sent directly to the president to sign. It will first be sent back to the house for further voting and debate.
The amendment to be sent to the house aims to create more protections for investors; specifically, the Crowdfund Act adds the requirement to the JOBS Act that crowdfund investing may occur only through SEC approved crowdfunding platforms.
in the act, there is another limitation. Business would be able to raise no more than $1 million per year through approved crowdfunding platforms. Additionally, crowdfund investors will be limited in their investments based on their income, leaving some investors unable to invest more than $2,000 via crowdfunding.
What are your thoughts on these amendments? Let us know in the comments.
Daily Crowdsource will continue to follow this story in the House and Senate. Stay Tuned!