Just did so. I had slightly misread the statute (or it's been updated) when this first blew up a few weeks ago, but it doesn't cast any doubt on my comment you'

Just did so. I had slightly misread the statute (or it's been updated) when this first blew up a few weeks ago, but it doesn't cast any doubt on my comment you're replying to here: the 2.3m figure is bullshit, the SEC is left to update the numbers themselves. While I don't find the new registration requirements onerous, you're absolutely right that the approval process for those registrations are insane. The 120 day federal approval window is bad enough, but the automatic devolution to the states is going to be a fucking disaster when some state legislature notices its newfound powers. Unfortunately, everyone's laser-focused on the idea that the pool of small angels could possibly shrink, making it very easy for others to write them off as self-serving whiners (especially when they're inflating their claims). It reads as "shit my old boss won't be able to fund my startup".