Update: Crowdfunding portion of JOBS Act signed by Pres. Obama

Last Thursday, President Obama signed the JOBS act into law.  While the bill contained some dubious relaxing of accounting standards, the good news is that the crowdfunding portion of the JOBS act has been given the green light.  While the Securities and Exchange  Commission still has to set the rules for portals that want to host crowdfunding, this is a welcome step for small businesses seeking to raise up to $1,000,000.00.  See this Wall Street Journal article for a quick summary.