The buzz surrounding equity-based crowdfunding has died down since the JOBS Act entered the purgatory of SEC rulemaking last April. That hasn’t stopped a flock of startups looking to capitalize on the new law, but it does mean they’ll be twiddling their thumbs and wasting investor money indefinitely until the SEC acts.
In a video interview at the South By Southwest festival in Austin, Steve Case, the AOL cofounder and Startup America chairman who advocated for the bill’s passage, says he’s hopeful the agency will finish rulemaking and begin to implement the law by the end of this year. Given that the SEC currently doesn’t have a permanent chairperson and still hasn’t finished fleshing out the Dodd-Frank reforms passed nearly three year ago, this seems a bit optimistic. But I hope he’s correct.
To read the full, original article click on this link: Steve Case: Crowdfunding Will Augment - Not Replace - Venture Capital - Forbes
