SEC's changes to accredited investor definition could expand access to crypto
The SEC is planning to broaden the definition of accredited investors with a series of wide-ranging changes, such as including "knowledgeable employees" and persons with specific qualifications to its pool of investors.
The federal agency outlined its proposed changes in a release today and has requested comments in the next 60 days. If approved, the move could bring more investors into the fold for cryptocurrency products and services.
The move may benefit private cryptocurrency offerings as well because it potentially broadens the numbers of investors for such offerings..
Based on the proposed changes, a “knowledgeable employee” or a person with professional certifications, such as the ones specified by the SEC, could also become an investor.