Jul. 25, 2022
Dear Chair Gensler, I write to support the petition for the SEC to begin a notice-and-comment rulemaking process for crypto securities. Web3 is almost limitless, and we will all benefit if we can keep the innovation here in the United States. As consumers, developers, investors, entrepreneurs, small businesses, and platforms, we believe that for web3 progress and leadership to flourish, the United States needs well-designed regulation of the subset of crypto assets that are crypto securities, not ad hoc litigation or speeches that change depending on the politics. The SEC should not wait on this important issue anymore. Without smart crypto securities regulation, the US markets, US businesses, and the US public will fall behind from the lack of certainty and workability in crypto securities: -Developers are chilled from creating the next web3 innovation -Businesses and platforms are uncertain about what they can launch without SEC litigation -Investors lose the benefit of relevant information -Consumers, entrepreneurs, and small businesses are unsure of whether something here today will get shut down tomorrow -US crypto holders have no path to access crypto securities but to go offshore. Please start a process to make real regulation for crypto securities and open the gates to a new kind of capital market. Sincerely, Alfredo Nava