This is way overdue-- consider the fact that this existed in Bangladesh back in the mid 1980s... for people who literally had no credit.

I think the tricky part will be about how deep the SEC wants to get entrenched in this type of action-- how will they view individual investments differently from stocks?

Worst case scenario, this JOBS bill might be a trojan horse to bring more regulation to the startup world (starting with enabling funding, then phasing in regulation in waves).

Either way, this is a sign of progress...