U.S. SEC Plans to Reform the Accredited Investor Framework, 15-Year-Old Proposal from Grayscale Parent DCG Founder Will Finally Be Implemented

On October 05 that on October 05, DCG, the parent company of Grayscale, posted on the X platform stating that last week the U.S. Securities and Exchange Commission (SEC) proposed reforms to the accredited investor regime, allowing certain investors to gain eligibility for the private market through exams or other means, a measure that DCG founder Barry Silbert had already suggested similarly 15 years ago.

It is reported that around 2011, during the founding of SecondMarket, Barry Silbert pointed out that the U.S. SEC’s “accredited investor” system primarily relies on income and net worth standards, but wealth levels do not necessarily indicate investment capability. Some high-net-worth individuals may lack sufficient financial knowledge, whereas ordinary investors who pass a financial literacy test set by regulators should also have the opportunity to obtain eligibility to participate in the private market.