I think itβs time to revisit the accredited investor laws in the US.
Companies are staying private longer, where only accredited investors (aka rich people!) can invest. Retail investors can only come in after IPO, when much of the upside has already been captured.
These rules were created with the best of intentions, to protect regular people from scams - a noble idea. Unfortunately, in practice they've often made it illegal to get richer, unless you're already rich. A regressive tax!
We have to judge policies based on their outcomes, not on their intentions.
These are two possible routes I see:
1) Replace the rule with something merit-based, like a financial literacy test. Pass it and you're accredited. Having a qualification based on competency rather than your bank balance or income seems far more fair.
2) Remove the rule entirely. Let consenting adults assess their own risk. Disclosure requirements stay and fraud enforcement stays to punish bad actors.
$800 BILLION JP MORGAN ANNOUNCES ON CNBC IT WILL NOW ACCEPT #BITCOIN AS COLLATERAL
THEY CALLED IT A "WORTHLESS PET ROCK"
TODAY THE LARGEST BANKS IN THE WORLD ARE ADOPTING QUICKLY π₯
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@kris What's with all those cryptic posts?
Are you burning $5b worth of $CRO or dumping to buy $XRP.
$5b worth buyback which will go into the US Wealth Fund or the reserve?