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Lobbying Groups Competing for Crowdfunding Industry

May 25, 2012
Thanks to the recently enacted JOBS Act, new businesses will now be able to "crowdfund" by raising money through selling stock online. And even though the Securities and Exchange Commission has yet to finalize crowdfunding regulations, two rival lobbying groups have emerged in hopes of representing the new industry, Bloomberg reports:

Even before Obama signed the legislation in April legalizing crowdfund investing, which he praised as a way to spur entrepreneurship and create jobs, two new lobbying groups had sprung to life. The leaders of the dueling organizations--the National Crowdfunding Association and the Crowdfunding Professional Association--don't yet have pricey offices in the nation's capital. In fact, they don't have offices at all. Or staff. Or experience lobbying, for that matter.

For more on the two rival groups and the people behind them, head here.

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