Digital Currency Group founder Barry Silbert has responded to the U.S. Securities and Exchange Commission’s newly proposed changes to accredited investor regulations, recalling his early call for reform over a decade ago. Silbert compared the recent developments to views he shared during a 2011 interview, suggesting that Wall Street has now embraced the tokenization trends he predicted years earlier.
SEC eyes knowledge-based investment eligibility
The SEC has announced plans to expand retail investor access to private funding rounds by piloting a new model based on financial knowledge. Rather than limiting access according to net worth or income alone, the agency aims to allow investors to qualify by passing a government-backed exam that measures their financial understanding.
Currently, U.S. law restricts participation in private investment deals to those with at least $1 million in net assets, excluding primary residences. Silbert, who was leading SecondMarket in 2011, previously described these requirements as outdated. He claimed that many high-net-worth investors lacked investing acumen, while skilled professionals without large personal fortunes were unjustly excluded from such opportunities.
Silbert recently noted that the marketplace had plenty of affluent participants with little true financial understanding, while capable professionals missed out solely due to the existing net-worth rules. He advocated for a shift to a knowledge-centered qualification process, foreshadowing the SEC’s current approach.
As part of the proposal, the Financial Industry Regulatory Authority (FINRA) would provide a public exam and grant access to those who pass. Retail investors who succeed would gain eligibility to participate alongside traditional accredited investors. Additionally, professionals with credentials like CFA or CPA designations would automatically qualify.
Tokenization reshapes capital markets
Silbert’s second major prediction involved the evolution of corporate capital markets. He forecasted the end of the rigid distinction between public and private companies, anticipating their convergence into a unified digital marketplace. According to him, businesses in the future would be separated only by their individual trading frameworks.
By October 2026, initiatives to migrate private company equity stakes and investment fund units to the blockchain have brought this vision closer to reality. The shift to tokenized assets aims to make liquidity in private markets more seamless, erasing the longstanding barriers between traditional public and private domains. With the rise of 24/7 digital trading infrastructure, market participants are no longer bound to conventional exchange hours and can buy or sell assets at any time, regardless of listing status.
Technology and transparency are critical in tracking these rapid developments. A single central bank decision or an unexpected altcoin listing can move the market dramatically, so investors see value in comprehensive monitoring tools. Many have adopted privacy-focused solutions like CryptoAppsy that integrate live charts, price alerts, project news, and macroeconomic data onto one screen, all without account registration.
Reflecting on current conditions, Silbert pointed to the ongoing shift toward tokenization and around-the-clock trading as further confirmation of his predictions. He argued that secondary trading of tokens has turned investing into a continuous process, eliminating the traditional divide between private startups and large public corporations.
