On September 30, 2026, the US Securities and Exchange Commission proposed changes to the criteria for accredited investor status. Currently, eligibility is primarily based on a net worth of $1 million or an annual income of $200,000 for individuals and $300,000 for couples.
The new proposal introduces alternative pathways for qualification, including holding professional credentials such as CPA, CFA, CFP, or specific FINRA licenses. Additionally, the SEC suggests a new FINRA-administered exam consisting of approximately 75 questions, with a cost of about $100 and a 10-year validity period.
Coinbase CEO Brian Armstrong publicly supported the initiative on October 11, 2026, describing it as a significant step toward democratizing access to private markets. The company may explore opportunities to facilitate tokenized offerings and pre-IPO investments if the framework is adopted.
The SEC proposal also includes provisions for regulated funds to expand investor participation while maintaining protections. The public comment period for these changes remains open until December 4, 2026, and the final rules are subject to potential adjustments.
