Coinbase CEO Slams US Accredited Investor Rules as 'Regressive Tax'

Coinbase CEO Brian Armstrong has sparked debate in the financial and crypto world by calling the US accredited investor system a 'regressive tax' that locks ordinary Americans out of early-stage investment opportunities.

The current rules require earning at least $200,000 annually or holding a net worth above $1 million to qualify as an accredited investor. Armstrong argues that this framework is outdated and has led to most of the value creation happening well before an IPO, with much of the upside being captured by venture capital firms and accredited investors.

Armstrong suggests two possible paths forward: shifting from wealth thresholds to a competency-based model where individuals can pass a financial literacy exam to gain accredited status, or removing accredited investor restrictions entirely while keeping disclosure requirements in place.