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The communities response from the SEC’s move to update the ‘accredited investors’ definition

The communities response from the SEC’s move to update the ‘accredited investors’ definition
  • Earlier this week, the securities and exchange commission in the United States updated its definition of an “accredited investor”. 
  • It got a great reaction from the crypto community with many people giving positive feedback from the move from the commission but some believe that this amendment didn’t go far enough.

Earlier this week, the securities and exchange commission in the United States updated its definition of an “accredited investor”. It got a great reaction from the crypto community with many people giving positive feedback from the move from the commission but some believe that this amendment didn’t go far enough.

On the 26th of August this week, the SEC revealed that the definition for the term would be based on “professional certifications, designations or credentials, or other credentials issued by an accredited educational institution.”

Going off the old definition, these kinds of investors would have needed to have either $1 million in net worth or a stable income of at least $200,000 on an annual basis.

The rule from the commission has been under scrutiny in the community for a while now. With the move to expand the category, it will allow more people access to invest in security token offerings as well as other opportunities within the crypto ecosystem.

Even one-half of the Winklevoss twins, Tyler praised the move from the commission as he took to Twitter saying:

Also speaking on the move from the SEC, the chief revenue officer of Uphold, Robin O’Connell. He said:

It's great to see that the regulators are adapting. It allows for increased opportunity and access to investments that were previously just offered to the privileged few.


It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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