At the very least, if MicroVC is looking for as little headache as possible - this can always be done outside of the US. There are plenty of companies in need of seed capital, as well as small investors looking to diversify their portfolio. SEC problem - solved. - Aviv

Excellent points, but I also believe we can easily make ourselves compliant if we do things the right way. - Brad Nickel

That's right. If done properly, there are a few ways MicroVC can operate legally and successfully. In a nutshell, one [rather complex] implementation could be a payment system offering privately-issued digital currencies, each backed by various types of assets (just like how goldmoney.com offers accounts backed by gold). For example, this would then allow for a currency backed by "MicroVC Trust XXI" (of which only asset is $25K worth of shares in, say, SocialMedian) - allowing for individuals worldwide to add funds to an account in their name - even send/receive money in much the same way that PayPal allows. Each currency issued comes with its own terms (ie. in case of liquidation event, company shutting down, etc.). There would be a few things to take care of as far as money transmitting regulations are concerned, but it's doable and done right could take off pretty nicely. That was one of the ways to tackle this problem - again, in a nutshell. There's a whole lot more to it. - Aviv

Wow Aviv, that is a fantastic concept. I need to think through that a bit more, but believe it makes a lot of sense. Where are you based? - Brad Nickel

Phoenix AZ, and yes - the concept is indeed interesting :) - Aviv

I'll write up some more about it later. I've given this whole thing a lot of thought a few years back and have experience with privately-issued currencies, logistics, etc. - Aviv

I am in Miami, FL. While I believe there is merit in developing this openly, conceptually, I'd still like to have a chat about how to do and structure this. - Brad Nickel