February 1, 2014
REFERENCE: "The Jumpstart Our Business Startups Act (the “JOBS Act”), (5) enacted on April 5, 2012, establishes the foundation for a regulatory structure for startups and small businesses to raise capital through securities offerings using the Internet through crowdfunding. (6) The crowdfunding provisions of the JOBS Act were designed to help provide startups and small businesses with capital by making relatively low dollar offerings of securities less costly. (7) They also permit Internet-based platforms to facilitate the offer and sale of securities without having to register with the Commission as brokers."
Item (7) is enough to raise a RED FLAG to the SEC; IRS; NSA; and numerous other GOV'T agencies. If the "Internet-based platforms" are unregulated, then ANYTHING GOES will be the norm and, in fact, the entire financial industry is threatened with corruption and delusion.
A major correction needs to be made considering that we already have websites that are proposing and beginning to use "alternate forms of internet currency previously unheard of". One can only imagine what could be the result of allowing money and securities to be exchanged via the internet using "foreign languages, encrypted computer codes, data created languages and propagated to myriads of illegal money laundering organizations across the globe" without any way to tract or hold these offerings, agents and agendas accountable.
This whole "Crowdfunding" mechanism is a nightmare waiting to strangle the entire global financial system.
Please regulate it to the maximum possible of your ability. Make it extremely tough on this industry.
I hate to see this industry trend coming, because it will require more BIG Government - the Lord knows - we don't need more.