The President supports crowdfunding but questions if current proposals go far enough. Current securities laws prohibit general solicitation and limit participation to accredited investors, preventing startups from crowdfunding. Proposed legislation aims to allow crowdfunding but maintains complex rules, which may not be practical for small businesses to use. Simpler reforms, like allowing general solicitation and small investments from non-accredited investors under existing Rule 506, could enable effective crowdfunding without new complicated regulations.