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S 3967 117th Congress Senate Finance and Financial Sector Administrative law and regulatory procedures Commodities markets Federal preemption Financial services and investments Securities State and local government operations

Improving Crowdfunding Opportunities Act

Introduced: March 30, 2022 Introduced by: Moran, Jerry Republican · Kansas See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 13, 2022
Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held.
Apr 5, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-621.
Mar 30, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 30, 2022
Introduced in Senate
 Plain-English summary Congressional Research Service

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.

What's happening now December 13, 2022

Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held.

 Committees of jurisdiction 2