03/22/2012 02:45 pm ET Updated May 22, 2012

Soon Even Your Mom Can Invest: Senate Passes Crowdfunding Bill (With Protections)

Well, this just in from dispatch on Capitol Hill: The Senate has passed legislation that will essentially legalize crowdfunding in startups by practically anyone, even your mom. Senators Scott Brown, Merkley, and Bennet all collectively introduced the "CROWDFUND Act" (S. 2190) earlier this month, which adds measures to the House of Rep's now well-known JOBS Act to ensure that companies would be able to use SEC-approved crowdfunding platforms to raise money from "small-dollar investors."

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