Apr. 8, 2022
I am writing with deep concern about the SEC's proposal to expand its definition of an "exchange" and an "alternative trading system" (ATS). The proposed rulemaking does not clarify what other trading systems or protocols the SEC intends to regulate under the expanded definitions. Since existing SEC rules and regulations applicable to exchanges and ATSs are designed to regulate stock exchanges, this ambiguity causes grave concern. It is also completely unclear how any trading system or protocol not already held by the SEC could comply with the rules designed for exchanges and ATSs. The Commission felt the need to clarify the expanded definition would not capture platforms like web chat platforms, and utilities exemplify the problem: if the expanded definition of a securities exchange could be interpreted to capture such software, what software couldn't be? Furthermore, this entire hit piece you created is nothing more than a sophomoric attempt at creating a reality that does not exist yet with a new and upcoming technology that already benefits the financial industry and those wanting to take finance and investing into their own hands. Furthermore, it attempts to make criminals out of every person, company, software programmer, investment entity, and many others simply by decree and absolute takeover of our freedoms. You wish to violate the privacy rights of individuals and others by putting your nose where it does not belong. You are deadset on destroying innovation, and the United States has been the leader in innovation and up-and-coming technologies for decades. Now you wish to silence it and penalize the very citizens and businesses that could make change for the better, and instead, the SEC is changing this to shut it all down and force everyone to go off-shore to conduct their finances. It is a misuse of trust in our government and the people who do NOT know how to run it and are probably bought and paid for by the Russian and Chinese governments. It is a design that comes too close to the new executive order from Biden to create a new digital currency that would be designed to control, manipulate, and destroy anyone at any time for any reason it deems appropriate. These so-called new rules are un-American and outright authoritarian and communist in nature and mirror existing situations in communist China. Your researchers are horrific and clearly do not understand the very nature of crypto and digital assets because they also go against what individual states have agreed upon what a digital asset is and what a digital cryptocurrency is. You two have different terms and definitions. This first must be cleared before any new rules. However, these rules make anyone suffer for being involved, not protecting them. You have it the other way around. You are punishing businesses, persons, and entities with outdated terms, rules, and statutes, and it is more of a threat than a new rule. I, for one, would be happy to sue the SEC to find out how you think this is freedom and protection of investors and innovators of technology. It is terrible for business. It isn't suitable for investors. It is awful for the innovation of new technologies and forces people to design and build the ideas you have that do not work and clearly violate citizens' freedoms and rights. It must stop, and you have to have an open dialogue and meet with people rather than ignore and RULE by authoritarianism. Sincerely, Samuel Anderson