DCG founder Barry Silbert: The U.S. SEC plans to reform the accredited investor system

Grayscale's parent company DCG stated on the X platform that last week the U.S. Securities and Exchange Commission (SEC) proposed reforms to the accredited investor system, allowing certain investors to qualify for participation in the private market through exams and other means. This initiative was suggested by DCG founder Barry Silbert as early as 15 years ago.

It is reported that Barry Silbert proposed during the founding of SecondMarket around 2011 that the SEC's "accredited investor" system primarily relies on income and net worth standards, but wealth levels do not necessarily represent investment capability. Some high-net-worth individuals may not possess sufficient financial knowledge, while some ordinary investors should also have the opportunity to qualify for participation in the private market if they pass the financial literacy tests set by regulatory agencies.