Crowdfunding is an awsome idea, basically bringing the power of investing back down to the small entrepreneur level. Unfortunatly, the SEC may decide it falls under their purview.
Abstract: Some (but not all) manifestations of crowdfunding result in the offer and sale of interests that are securities under the Securities Act of 1933, as amended. Offers and sales of securities that are neither registered nor exempt from registration violate the Securities Act. The high cost of registration is prohibitive for small businesses that might benefit from crowdfunding. Accordingly, if crowdfunding is to achieve its optimal benefit (or even just survive or thrive), there must be some intervention. This dilemma has caught the attention of many, including the U.S. Securities and Exchange Commission (SEC).