The US House of Congress has passed what has been termed the ‘crowdfunding bill by a large majority.
The bill will now go before the Senate to be ratified.
This is the second time in four months that the bill has passed.
Senator Brown – who has sponsored the bill – claims that crowdfunding will super-power startups and create large numbers of new jobs. Read more here.
The pressure is now on the Senate to ratify the bill.
The essentially ingredients are that it allows small companies to seek funding from large numbers of individual investors – or mini business angels – via the internet – a crowdfunding model.
The UK is also expect to announce a loosening of the rules around crowdfunding at the next UK budget on march 23rd.