Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Entrepreneurs, Start-ups, Small Businesses
Neiss Advocates for Economic Growth via H.R. 2799
Advocacy | Feb 22, 2024
Image: Freepik/rawpixel.com
Sherwood Neiss Says the "Expanding Access to Capital Act" Will Boost the Economy, Job Creation, and Inclusive Innovation
Sherwood “Woodie” Neiss, a founding partner at Crowdfund Capital Advisors (CCA) who was one of the creators of the JOBS Act of 2012 (legislation that legalized investment crowdfunding), and NCFA Advisor, has sent a letter to Congressional leaders, informed by data-driven evidence, advocating for HR 2799, also known as the Expanding Access to Capital Act. This proposed legislation aims to bolster support for entrepreneurs and small businesses, thereby enhancing economic growth. The correspondence was directed to key figures within both major political parties in the U.S. House of Representatives and was in response to a letter sent by the North American Securities Administrators Association (NASAA) opposing the legislation.
See: NASAA Intensifies Access to Capital Debate
The Expanding Access to Capital Act will build upon the successes of the JOBS Act by further democratizing access to capital. This move promises to enhance economic growth, spur innovation, and support the creation of jobs, while maintaining a commitment to investor protection. Despite opposition from the North American Securities Administrators Association (NASAA), the overwhelming evidence and support from the crowdfunding sector underscore the transformative potential of H.R. 2799.
Let's Break It Down
1. Unprecedented Economic Impact
- Since the inception of Regulation Crowdfunding (RegCF), over 6,800 issuers from more than 1,800 cities have launched upwards of 8,000 offerings, channeling billions into the U.S. economy with minimal instances of fraud. This showcases the robust framework of crowdfunding that not only stimulates economic growth but does so with an impressive record of integrity and safety for investors.
2. Inclusive Capital Formation
- In 2023 alone, 41.7% of issuers had at least one woman or minority founder, significantly outpacing traditional venture capital's support for these demographics. Crowdfunding under Regulation Crowdfunding has emerged as a powerful tool for leveling the playing field, offering unprecedented access to capital for underrepresented entrepreneurs.
3. Spurring Innovation Across Industries
- Regulation Crowdfunding has enabled companies across over 500 industries to raise over $2.2 billion from nearly 2 million Americans, seeding the next wave of innovation. The diversity of industries and broad investor base illustrate crowdfunding's role in fostering a wide range of innovations, from tech startups to sustainable solutions.
See: The Real Story of Access to Capital
4. Job Creation and Economic Resilience
- Regulation Crowdfunding companies have created and supported over 310,000 jobs, injecting more than $6.8 billion into the economy. Beyond funding, RegCF has a tangible impact on job creation and economic resilience, highlighting its role as a cornerstone of economic development.
5. NASAA's Concerns
- NASAA has expressed opposition to H.R. 2799, citing concerns over potential risks to investor protection. While investor protection is paramount, the data and success stories from the crowdfunding sector suggest that the existing regulatory framework effectively balances access to capital with safeguards for investors (despite what NASAA says).
Conclusion
The momentum behind H.R. 2799 and the advocacy of Crowdfund Capital Advisors underscore a collective recognition of Regulation Crowdfunding's potential to transform the landscape of capital formation in the United States. By building on the foundation laid by the JOBS Act, this legislation aims to unlock new opportunities for entrepreneurs and investors alike, fostering an environment where innovation can thrive. As we look to the future, the continued success and expansion of investment crowdfunding hold the promise of a more inclusive, dynamic, and prosperous economy for all.
Download CCA's Letter --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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‘Score’ Dating App for Financially Savvy Singles
Innovation | Feb 20, 2024
Image by Drazen Zigic on Freepik
Introducing 'SCORE' App: A New Approach to Dating and Financial Wellness
In an innovative blend of finance and romance, Neon Money Club has unveiled 'SCORE,' a dating app designed for individuals with good to excellent credit scores. The app requires users to have a healthy credit score for sign-up, connecting them with financially like-minded individuals.
See: Sustainable Business and The Regenerative Future
This initiative not only fosters meaningful connections based on mutual financial goals but also offers valuable resources for those working towards improving their credit scores and financial literacy. It goes beyond shared interests to prioritize financial wellness, ensuring users are matched with financially like-minded partners.
Cream Card Features
Neon Money Club's commitment to financial wellness is further exemplified by collaborations like The Cream Card™, a credit card that allows members to convert points into stock market investments. Such innovations underscore the need for creative and diverse voices in the next generation of finance.
- Cardholders can convert their points to invest in the stock market, specifically in assets like the Vanguard S&P 500 ETF, directly through Neon Money Club. This feature is designed to encourage and facilitate personal investment, offering a practical way to engage with financial markets.
- Neon Money Club matches the points cardholders convert to investments, doubling the value of their investment points.
- The card is made from 14g of metal with a premium matte finish, emphasizing its luxury status.
- The card offers a range of benefits, including protection on the Amex network, acceptance at 99% of places in the US that accept credit cards, unlimited 1.5X points on all purchases, and various discounts and offers with partner brands.
- Applying for the card does not impact the applicant's credit score due to the use of a soft credit check. A hard credit inquiry is only made when the applicant accepts the pre-ordered card.
See: A Fintech Survival Guide to Understanding Gen Z Finance
Luke Bailey, CEO of Neon Money Club:
"Financial wellness often takes a backseat. At Neon Money Club, our mission is to inject financial awareness into the fabric of everyday life."
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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4 Reasons Why You Should Outsource Your Business’ SEO To The Experts
Feb 16, 2024
Image: Unsplash/Campaign Creators
You might be reluctant to outsource all your business processes because this can cost you money. However, while this might be the case, outsourcing your SEO can be incredibly advantageous as this can help as many customers see your company as possible and boost your sales. Then, here are some of the top reasons why you should leave your SEO to the professionals.
1. They Can Improve Your Ranking
The most obvious reason why you might want to outsource your business's SEO to experts is that they might be able to improve your ranking and ensure that your company can always be found at the top of search results. This is important because many people search for the products they want to buy online. By harnessing SEO, you will be able to entice an audience to your website that is more likely to be interested in your items and convert leads into sales. This means you should look into what companies like clickintelligence.com can offer you and your business. They might be able to iron out any issues within your current SEO campaigns, develop a plan for the future, and help you get the tools you need to manage your SEO.
2. They Know the Latest Trends and Strategies
Unfortunately, for most businesspeople, the latest SEO requirements are constantly changing. What worked for your company one month might not be effective the next. Rather than allowing your business to flounder amid outdated SEO techniques, you should consider hiring experts who deeply understand the best strategies and know about and follow the latest SEO trends. This will help you keep up with your competitors and allow you to hold onto your top position in rankings.
3. This Can Save You Time
When you are running a business, you might not always have endless time to work on your SEO and develop your keywords. This is because you will also need to focus on other elements, such as employee leadership, finance, and product development. By optimizing your SEO, you will be checking that it is in safe hands while also enabling you to focus on the elements of your business that you enjoy and are good at. This can also prevent you from having to stay up all night to work out your SEO strategy and to make sure that you are always at the top of searches.
4. This Can Make Your SEO a Success More Quickly
You might have been battling to achieve top Google rankings for many years but may not have achieved the heights you wanted yet. If that is the case, you should stop trying to press forward with your SEO campaign yourself. Instead, you should hire experts as they will be able to allow you to reach the heights of your SEO success as soon as possible.
See: 10 Innovative Product-Led Growth Strategies
If this does not happen, they will be able to adapt your SEO plan in no time at all to ensure that you soon find yourself at the top of Google's listings. If you are yet to try out SEO at all, you should also leave this to the experts, as this can prevent you from teaching yourself SEO and help you avoid many of the challenges beginners face.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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NASAA Intensifies Access to Capital Debate
Access to Capital | Feb 5, 2024
Image: Unsplash/Lennon Cheng
NASAA Opposes Expanding Access to Capital Act, Citing Investor Protection Concerns; Industry Leaders Disagree
In a recent letter, the North American Securities Administrators Association (NASAA) has voiced strong opposition to the Expanding Access to Capital Act (H.R. 2799), a piece of legislation aimed at enhancing financing access for small firms and entrepreneurs. This opposition is met with concern from private capital market leaders including investment crowdfunding platform operators, who argue that the Act could democratize capital access for everyday Americans and stimulate economic growth.
See: AOIP Advocates for Enhanced Capital Formation and Investment Opportunities for SMEs
- Sponsored by Congressman Patrick McHenry, H.R. 2799 seeks to improve small firms' and entrepreneurs' access to financing and broaden investment opportunities for smaller investors.
- The Act includes provisions for a "micro-offering exemption" allowing securities offerings of $250,000 or less, among other measures to streamline capital formation and investment processes.
- NASAA criticizes multiple titles within H.R. 2799, particularly those facilitating private placement brokers and finders, creating micro-offering exemptions, limiting liability for funding portals, and easing trading of private securities off-exchange. NASAA's opposition may stem from fears of reduced state authority in securities regulation, continuing a history of resistance against federal measures perceived as limiting state powers.
Industry Reaction
Rebecca Kacaba, CEO of DealMaker, criticizes NASAA's opposition, highlighting the Act's potential to expand investment opportunities and drive job creation and economic opportunity, reflecting the broader dialogue on how best to support small businesses and investors in an evolving economic landscape.
NASAA’s opposition to HR 2799 and the Improving Crowdfunding Opportunities Act is concerning. The act serves to expand investment opportunities for everyday Americans. NASAA’s focus appears to be on state rules, rather than the identification of inadequate investor protections for Americans. As the SEC has noted, large investors have a limited focus on smaller companies, but HR 2799 provides [an improved] pathway for smaller investors to finance these businesses. This, in turn, drives job creation and economic opportunity. We continue to support the democratization of access to capital.”
As this debate continues, the perspectives of both investor protection advocates and proponents of democratized capital access will need to balance both safety and growth in the financial markets.
See: UK Changes to HNW Rules Will Impede Access to Capital
Background: The "Improving Crowdfunding Opportunities Act" represents a significant effort to refine and enhance the crowdfunding ecosystem in the United States. By reducing regulatory burdens, clarifying the roles and liabilities of funding portals, and expanding the opportunities for both issuers and investors, the Act aims to make crowdfunding a more attractive and viable option for raising capital. These changes could lead to increased innovation, support for small businesses, and broader investment opportunities for the general public, contributing to economic growth and the democratization of investment.
Importance
The debate over H.R. 2799 underscores a critical tension between state-level investor protection efforts and the push for federal legislation to facilitate broader access to capital and investment opportunities. The outcome of this legislative process could significantly impact capital formation, investment opportunities, and economic growth, making it a matter of keen interest for all stakeholders in the financial and entrepreneurial ecosystems.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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OSFI’s New Security and Integrity Guideline 2024
OSFI | Release | Feb 2, 2024
Image by rawpixel.com on Freepik
The Office of the Superintendent of Financial Institutions (OSFI) announced the release of its final Integrity and Security Guideline on January 31, 2024.
This guideline, developed after public consultation from October 13 to November 24, 2023, aims to strengthen the resilience of financial institutions against threats, including foreign interference, by outlining clear expectations for integrity and security practices.
Who is this guidance for? Banks, Cooperative Credit Associations, Foreign Bank Branches, Foreign Insurance Branches, Life Insurance and Fraternal Companies, Property and Casualty Companies, Trust and Loan Companies.
"Whether financial services firms/fintechs are regulated by OSFI or not, they should comply. It is the right thing to do."
Highlighting the importance of financial institutions acting with integrity and ensuring security, Superintendent Peter Routledge emphasized that these measures are crucial for maintaining trust in Canada's financial system.
See:
Consultation Until Sep 20, 2023: OSFI Proposes New Guidelines for Crypto-Asset Exposures in Canada
OSFI’s Evolving Focus on Integrity & Security
Consultation: OSFI Unveils Guidelines for Robust Financial System
This step is part of OSFI's expanded mandate, supported by new legislation, and complements existing guidance to help institutions enhance their stability and security.
Peter Routledge, Superintendent of Financial Institutions:
“Resilience and trust in the financial system depend upon the integrity and security of financial institutions. Contained within our integrity and security guideline are specific, practical measures that we expect financial institutions to implement for their protection. Though much work remains, this guideline serves as an important, initial step towards enhancing integrity and security in the financial system.”
Download the 'Sound Business and Financial Practices' Guideline --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Feds Warn Companies to Not Delete Slack Chats
Regulatory Guidelines | Jan 29, 2024
Image: Unsplash/Sara Kurfeß
FTC and DOJ Issue Updated Guidelines on Retaining Business Communications on Modern Digital Platforms like Slack, Microsoft Teams, and Signal
The Federal Trade Commission (FTC) and Department of Justice (DOJ) have revised their guidelines to ensure businesses retain communications made through modern digital collaboration tools and messaging apps. This update responds to the growing use of platforms such as Slack, Microsoft Teams, and Signal, which often include features for automatic data deletion. Past instances reveal that businesses have struggled to maintain records of communications via these digital platforms, prompting this stricter regulatory stance.
See: Decoding Emoji Interpretations Across Generations: Legal Implications and Regulatory Insights
- The revised guidance covers various legal processes, including subpoenas and voluntary requests, emphasizing the importance of keeping relevant digital communications during investigations and legal proceedings.
- The focus is on messaging applications and collaboration tools that may automatically delete messages, highlighting the responsibility of businesses to retain these communications.
- Non-compliance, such as failing to keep or produce necessary documents, could lead to legal consequences, including charges of obstructing justice. The FTC has enforced penalties in previous cases where digital communication concealment methods were used, underscoring the seriousness of these updated requirements.
Why It Matters
The new guidelines serve as a reminder of the legal requirements to maintain digital communications, particularly on platforms with automatic message deletion features. This shift reflects the changing landscape of workplace communication and the need for laws and regulations to keep pace.
See: SEC Intensifies Probe of Wall Street’s Use of Messaging Apps
For businesses, this translates to a greater emphasis on compliance and understanding the legal risks associated with non-adherence to these retention guidelines. Companies must now ensure that their strategies for maintaining digital records are comprehensive, covering a range of communication tools including those with auto-delete features
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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ASC Sanctions Devon Christopher Edwards & KB Crypto
Crypto Enforcement | Jan 22, 2024
Image by DilokaStudio on Freepik
ASC Sanctions Devon Christopher Edwards and KB Crypto Inc. for Securities Misconduct
CALGARY, AB, Jan. 16, 2024 - The Alberta Securities Commission (ASC) has recently taken decisive action against Devon Christopher Edwards and KB Crypto Inc. for violating Alberta's securities laws. The case, which has drawn significant attention in the financial community, highlights the ongoing efforts of regulatory bodies to maintain the integrity of the capital markets.
- Edwards and KB Crypto Inc. admitted to distributing securities without a prospectus and operating as a dealer without registration, contravening the Securities Act.
- From February 2021 to November 2022, they raised nearly US$450,000 from 75 investors through investment contracts. These contracts involved using investors' funds to purchase and trade in contracts for difference (CFDs), without filing a prospectus or relying on any exemptions.
See: Canadian Regulators Set Expectations for Crypto Asset Investment Funds: A Comprehensive Overview
- The ASC panel ordered Edwards to pay a $40,000 administrative penalty and $10,000 in costs. He is also required to resign from any director or officer positions in any issuer. For five years or until the penalty is fully paid, Edwards is barred from acting as a director or officer in any issuer, advising in securities and derivatives, and from trading or purchasing any security or derivative (with limited exceptions).
- The company is permanently prohibited from trading, purchasing, or advising in securities or derivatives. All trading or purchasing of its securities or derivatives must cease.
Conclusion
The Alberta Securities Commission's decisive action against Devon Christopher Edwards and KB Crypto Inc. underscores the importance of adhering to securities laws and the serious consequences of non-compliance. This case highlights the regulatory body's commitment to protecting investors and maintaining the integrity of the financial markets.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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