HR 9478
Improving Crowdfunding Opportunities Act
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Bill overview
The Improving Crowdfunding Opportunities Act aims to make crowdfunding more accessible by reducing regulatory burdens on both crowdfunding platforms and securities sold through these platforms. Specifically, it modifies existing securities laws to exempt secondary transactions from state registration requirements and clarifies liability for crowdfunding portals regarding material misstatements. The bill also removes certain Bank Secrecy Act reporting requirements for crowdfunding portals.
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Primary sponsor
Patrick T. McHenry
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