> > The crazy thing is that a foreign citizen can invest in an American start up without any of these credentials, yet a US citizen cannot. > These rules are g

> > The crazy thing is that a foreign citizen can invest in an American start up without any of these credentials, yet a US citizen cannot. > These rules are generally based on the residence of the investor, not their citizenship. I'm an American in Quebec currently, and it's the Quebec/Canadian rules which determine my eligibility to invest while I'm living here, not the SEC's. And in Canada's case, the accredited investor rules are broadly similar to what the US rules were before this announcement, with the same dollar amounts but in Canadian dollars and with a lot of other differences in the details. Doesn't it have less to do with the jurisdiction in which you're located, and more to do with the jurisdiction in which the offering is located?