The United States House of Representatives (the “House”) continues to pursue crowdfunding legislation despite some opposition in the United States Senate (“Senate”). On March 8, 2012, the House passed the Jumpstart Our Business Startups Act (the “JOBS Act”) by a bipartisan effort with a 390-23 margin. The JOBS Act is a legislative package of economic and jobs bills that focus on increasing access to capital for small businesses through the reformation of the federal securities laws.