Is a crowdfunded campaign not selling unregistered securities?
As a Brit, I am in essence making observations on a matter of internal affairs in a foreign culture and my observation should be interpreted in that light. However, one important practical difference is that the term “crowdfunding” is more accurate than “initial public offering”, the latter term having been chosen in order to exploit the more favourable connotations of a regulated commercial activity conducted under responsible industry sector / government oversight.
I'm strongly in favour of plain, unambiguous terminology where it's needed and describing financial instruments to non-specialists is exactly one of those places.
Cheers
Graham
