JOBS Act Hearings Prepare the U.S. for Expanded Crowdfunding Market

Last month I spoke to the leaders of RocketHub, a popular crowdfunding platform, about the efforts they and others supported by the Crowdfunding Professional Association (CfPA) are making to advance the rules and safeguards for expanding Crowdfunding to equity crowdfunding for businesses with the implementation of the JOBS Act in 2013.

While the actual implementation of JOBS is months away, this week’s Congressional hearings are critical to the creation of SEC guidelines and standards around the aspects of crowdfunding the JOBS Act will soon usher in.

On Tuesday (June 26, 2011) The Congressional Committee on Oversight and Government Reform held a hearing on the SEC’s efforts to implement the JOBS Act. Rep. Patrick McHenry (R-NC) chaired the hearing. RocketHub’s Co-Founder and CFO Alon Hillel-Tuch, who I interviewed in a two-part column series last month, testified on the potential the “crowdfunding for equity” model holds for start-ups, job growth, and the US economy. For anyone interested in the full hearing, you can view the C-SPAN coverage via the following link here.