The House of Representative passed a bill that will allow startups to raise capital through "Crowdfunding". The bill provides a Crowdfunding exemption from SEC registration with the following conditions:
- A limit of 10.000 USD invested per investor or a maximum of 10% of his annual income.
- There is a maximum fundraising of 1.000.000 USD per offering. It can be up to 2.000.000 if audited financial statements are provided.
- There is no limit on the number of investors.
This is a huge step passed by the US administration, we hope Europe will follow-up!