Regulators, motivated by concern for ordinary people, are introducing the concept of a “qualified investor. In Russia it can be a legal or natural person whose total assets in the form of securities, derivatives, funds in accounts or on deposits exceeds 6 million rubles.
Or it is required:
A higher economic education obtained at a university that could certify in the field of professional activity in the securities market or any of the documents:
- qualification certificate of a financial market specialist
- auditor’s qualification certificate
- insurance actuary qualification certificate
- Financial Risk Manager (FRM) certificate
- Certificate of Chartered Financial Analyst (CFA)
- Certified International Investment Analyst (CHA) certification
You should also have at least 3 years of experience in an organization that has traded in securities or derivatives.
At least 2 years with an organization with qualified investor status.
Or the following investment experience will be required:
Transactions in securities and/or contracts that are PFIs over the past 4 quarters averaged at least 10 times per quarter, but at least once per month. At the same time, the aggregate price of transactions (contracts) was not less than 6 million rubles.
What do all these requirements mean? Very simply – it is a barrier to the poor. But all of these requirements can easily be met by the rich.
Let’s call things by their proper names then. Regulators could write that market transactions in foreign assets and cryptocurrencies are allowed to the rich and prohibited to the poor. In order to make the rich even richer and the poor stay poor.
Let’s be frank: The entire financial system is set up against the poor in favor of the rich. Including:
-Tax cuts for corporations.
- Tax loopholes with LLCs
- registration of companies offshore
- Overdraft fees.
- Extortionary life insurance for investors
- Office slavery with paychecks flogging only housing and food.
Bitcoin, cryptocurrencies, DeFi are correcting this injustice. There are decentralized exchanges, anonymous wallets and altcoins to buy crypto. And you don’t need qualified investor status.
I think Satoshi Nakamoto deserves a Nobel Prize in any category. An independent body headed by an elected chairman, such as Nick Szabo, could be the recipient and manager of the prize (which today is 10 million kroner ($1.19 million). $1.19 million today is billions in the years to come.
This money should be used to create the Satoshi Nakamoto Fund and reward every year the developers who made the most significant contribution to the development of decentralized finance and the free Internet.
This is the only way to eradicate the formula imposed on society: The rich get richer, and replace it with the biblical formula: “…and the last will be the first.