Raising capital through crowdfunding is evolving and the securities rules have not kept up with business practice. Here are some links to informative discussions on the proposed changes to the US Securities and Exchange Rule 147 and the limitations of those changes. The changes would allow the offer and sale of securities through crowdfunding on the internet through an exemption and not a safe harbor. The new changes propose to facilitate intrastate and regional securities offerings.
See the links below.
SEC press release