{
  "_attribution": {
    "registry": "Outcome Ledger",
    "canonical_id": "OL-2026-000070",
    "canonical_url": "https://outcomeledger.org/record/OL-2026-000070/",
    "license": "CC-BY-4.0",
    "citation_requirement": "Cite as: Outcome Ledger (OL-2026-000070), https://outcomeledger.org/record/OL-2026-000070/"
  },
  "canonical_id": "OL-2026-000070",
  "ledger": "outcome_ledger",
  "domain": "regulatory_rollback_audit",
  "title": "[2015-28220] Securities and Exchange Commission: Crowdfunding",
  "entity": {
    "name": "Securities and Exchange Commission",
    "type": "Federal_Agency",
    "jurisdiction": "US-Federal"
  },
  "bi_temporal": {
    "t0_date": "2015-11-16",
    "valid_from": "2015-11-16",
    "valid_to": null,
    "tx_recorded_at": "2026-11-15T04:22:17Z",
    "updated_at": "2026-11-15T04:22:17Z",
    "current_stage": "T0_ANNOUNCED",
    "outcome_status": "STATUTORY_RULE_MONITORING"
  },
  "summary": "Federal Register Rule 2015-28220 issued by Securities and Exchange Commission. The Securities and Exchange Commission is adopting new Regulation Crowdfunding under the Securities Act of 1933 and the Securities Exchange Act of 1934 to implement the requirements of Title III of the Jumpstart Our Business Startups Act. Regulation Crowdfunding prescribes rules governing the offer and sale of securities under new Section 4(a)(6) of the Securities Act of 1933. Regulation Crowdfunding also provides a framework for the regulation of registered funding portals and broker-dealers th",
  "dark_keys": {
    "document_type": "Rule",
    "federal_register_doc_number": "2015-28220",
    "pdf_url": "https://www.govinfo.gov/content/pkg/FR-2015-11-16/pdf/2015-28220.pdf"
  },
  "quantitative_metrics": {
    "agency_count": 1,
    "is_rollback_or_delay": 0
  },
  "cryptographic_provenance": {
    "primary_source_url": "https://www.federalregister.gov/documents/2015/11/16/2015-28220/crowdfunding",
    "probe_url": "https://www.federalregister.gov/api/v1/documents/2015-28220.json",
    "gov_domain": "www.federalregister.gov",
    "raw_payload_sha256": "54a371abc489726a947524e99c85d587a8ec701258737412aaabea61c6b805ab",
    "verbatim_excerpt": "The Securities and Exchange Commission is adopting new Regulation Crowdfunding under the Securities Act of 1933 and the Securities Exchange Act of 1934 to implement the requirements of Title III of the Jumpstart Our Business Startups Act. Regulation Crowdfunding prescribes rules"
  },
  "revisions": [
    {
      "revision_id": 134,
      "canonical_id": "OL-2026-000070",
      "observed_at": "2026-11-15T04:22:17Z",
      "delta_type": "INITIAL_CAPTURE",
      "prev_sha256": null,
      "new_sha256": "54a371abc489726a947524e99c85d587a8ec701258737412aaabea61c6b805ab",
      "http_status": 200,
      "stage_after": "T0_ANNOUNCED",
      "status_after": "STATUTORY_RULE_MONITORING",
      "summary": "Initial notarized capture from www.federalregister.gov (SHA-256 54a371abc489).",
      "snapshot_relpath": "2026-11-15/54a371abc489726a947524e99c85d587a8ec701258737412aaabea61c6b805ab.json"
    }
  ],
  "scheduled_probes": [
    {
      "milestone": "T+180",
      "due_date": "2026-11-16",
      "state": "PENDING",
      "delta_type": null
    },
    {
      "milestone": "T+90",
      "due_date": "2026-11-16",
      "state": "PENDING",
      "delta_type": null
    },
    {
      "milestone": "T+1095",
      "due_date": "2026-11-22",
      "state": "PENDING",
      "delta_type": null
    },
    {
      "milestone": "T+365",
      "due_date": "2026-11-22",
      "state": "PENDING",
      "delta_type": null
    }
  ],
  "episode_video_id": null
}