Crowdfunding has the potential to fund many great new ideas, large and small. Regulators, however, are concerned with only one possibility, that small investors might lose their money -- which is likely in any start-up -- and then complain to elected officials. This attitude crushes the spirit of enterprise, and needs to be denounced at all opportunities by happy people who prefer prosperity.
How about this? Enact crowdfunding, and simply require an unqualified statement on every crowdfunding website page, in a large font, to wit:
CROWDFUNDED BUSINESSES ARE BY THEIR NATURE VERY RISKY, AND YOU WILL PROBABLY LOSE MOST OR ALL OF YOUR INVESTMENT.