The U.S. Securities and Exchange Commission (SEC) has proposed amending the definition of “accredited investor” — a move that will increase access to regulated cryptocurrency investments. A number of them are currently only available to accredited investors. Among other changes, a person can qualify based on professional knowledge, experience, or certifications.
Also read: Lagarde Sees Demand for Stablecoins, Plans to Put ECB ‘Ahead of the Curve’
Modernizing SEC’s Approach
The SEC announced on Wednesday that it has proposed “to update accredited investor definition to increase access to investments,” which would result in more people being able to participate in SEC-regulated private capital markets. “The proposal seeks to update and improve the definition to more effectively identify institutional and individual investors that have the knowledge and expertise to participate in our private capital markets,” the Commission’s announcement reads. Chairman Jay Clayton elaborated:
The current test for individual accredited investor…