Investors thought President Barack Obama was launching the crowdfunding industry when he signed the Jobs Act in April.
The law allows companies to raise up to $1 million in capital online.
It was supposed to take effect once the Securities and Exchange Commission issued rules for crowdfunding. But the SEC missed its Dec. 31 deadline to do so, and after the resignation of chairwoman Mary L. Schapiro, it’s unclear how long the delay will be.
That has put crowdfunding companies into somewhat of a holding pattern. That includes Startup Valley, a 
Saddle Brook company that officially launched in August, just months after Obama signed the law.
Read More at NJ.com