California, the most populous state in the country, is attempting to legalized equity crowdfunding once again. Last year the Assembly gave it a valiant effort but the bill died ignominiously in Appropriations committee. The execution was said to be delivered by the AARP, a group that sees crowdfunding as a potential way to defraud senior citizens.
This time there are actually two bills enduring the law making process; AB722, similar to the bill that died last year, and the Local Securities Exemption Act.
