Coinbase CEO Brian Armstrong called for revisiting U.S. accredited-investor rules, arguing the wealth-based threshold functions as a regressive tax. Armstrong proposed a financial literacy test or full removal of the requirement.

Billionaire investor Mark Cuban took a “memecoin” swipe at Brian Armstrong on Monday, in response to Coinbase Global Inc. (NASDAQ:

Coinbase CEO Brian Armstrong urged the US to revisit accredited investor laws, proposing a financial literacy test over wealth thresholds.