Improving Crowdfunding Opportunities Act

Summary

Improving Crowdfunding Opportunities Act This bill reduces regulations applicable to crowdfunding securities and portals. Crowdfunding is used to raise capital through a large number of individuals investing potentially small amounts of money. The bill exempts certain securities issued under crowdfunding regulations from state regulation of secondary transactions. It also exempts crowdfunding portals from certain anti-money laundering reporting and recordkeeping requirements. Finally, crowdfunding portals are exempted from liability for material misstatements or omissions unless the portal knowingly makes certain untrue statements or engages in fraud or deceit.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 8 December 2022

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 8 December 2022

   Introduced

   Introduced in House

   Source: IntroReferral

3. 8 December 2022

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 8 December 2022 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 8 December 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 8 December 2022

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 8 December 2022

  Open at official source

Sponsors

• Patrick McHenry · R · Sponsor
• · hsba00 · Standing

Related records

• related to → Improving Crowdfunding Opportunities Act