No, no it does not. How is this headline still up? It's totally inaccurate. Equity crowdfunding from unaccredited investors was provided for in the JOBS Act. The SEC doesn't get to set the law, Congress does.

What the SEC has been doing has been figuring out rules for how this law will be implemented. NOT allowing equity crowdfunding was never an option.

Here is the SEC headline: "SEC Adopts Rules to Facilitate Smaller Companies’ Access to Capital"

That is accurate.

Here is the fourth sentence of the press release:

"The rules are mandated by Title IV of the Jumpstart Our Business Startups (JOBS) Act. "

It's really embarrassing this has been up on Hacker News so long and not fixed (or commented on? wow).