Congress introduces bill to expand the meaning of accredited investor
This specific act could allow an exemption for investors in ICOs who are demonstratively experts in their profession. This means many of us (myself included) could be considered accredited investors under this new criteria below:
“(E) any natural person the Commission determines, by regulation, to have demonstrable education or job experience to qualify such person as having professional knowledge of a subject related to a particular investment, and whose education or job experience is verified by the Financial Industry Regulatory Authority or an equivalent self-regulatory organization (as defined in section 3(a)(26) of the Securities Exchange Act of 1934); or”.
This is very good news for the crypto space if it passes and we should all get beyond this because it will allow for ICOs to raise money legally without as much risk. It also lowers the barrier to entry without attracting money from people who have limited or no understanding of what the investment is.
UPDATE: Read the discussion transcript https://www.congress.gov/crec/2017/11/01/CREC-2017-11-01-pt1-PgH8320.pdf