Accredited investor laws are the bane of many in the crypto industry, who see them as preventing small investors from accessing big opportunities. When Celsius was recently forced to cut off access to U.S. citizens who were notDid it help some users avoid the current crisis? Or do accredited investor laws go too far in saving users from themselves — and from profits, too?
Magazine had interviewed Mashinsky about investor accreditation on May 25 before Celsius ran into serious problems in the public area. The resulting drama makes the topic all the more timely. So, what does Mashinsky have to say about accredited investor laws?Celsians were affected negatively or positively by accredited investors laws, depending on your perspective.
“The goal was to give investors full and fair disclosure of material information so they could make informed decisions about their investments,” but the process became so expensive that companies complained, resulting in an exemption for “private placements” by accredited investors who were in less need of protection. Notably, many consider ICOs in the crypto world little more than an attempt to work around the IPO regulations.
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