Robinhood CEO calls for updated SEC investor rules to facilitate equity tokenization
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Odaily Odaily reports that Robinhood Markets founder Vlad Tenev published an op-ed in The Washington Post on Tuesday supporting cryptocurrencies, arguing that the US needs to update its investment laws to allow early-stage startups to tokenize their equity. Tenev wrote on X: "Finally, the US is making up for lost time and taking so many promising steps towards seriously addressing cryptocurrencies. Now is the time to further expand our understanding of the possibilities." In the op-ed, Tenev argued that in the US, there are unnecessary restrictions on investing in early-private companies, and regulators should work to change laws and encourage tokenization to achieve a more equitable situation. Specifically, the US "accredited investor" laws limit private market investments to those with net assets over $1 million or income over $200,000, leading to wealth concentration in the top 20% of the population.
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