What are Regulation Crowdfunding caps and limits?

Regulation Crowdfunding (Reg CF / Title III) went live in May 2016 after roughly 80 years, enabling non-accredited investors to back startups [existence-graph]. Per the dispatches, the offering cap stood at $1.07 million in 2019, which Nguyen's September 2019 comment letter called 'severely impairing' while asking for a $5 to $10 million cap [dispatches].

The corpus marks a clear position shift: the lower cap era (around $1.07M, criticized 2019) versus the higher-cap request that fed into the November 2020 rules [dispatches]. The exact final adopted cap figure is not reproduced in these chunks.

Despite Nguyen's securities-law authority, a white-space gap notes he has 'no plain-language explainer of the rules he helped shape' [white-space].