Apr. 19, 2023
April 19, 2023 I support this rule. I am very concerned that unregulated centralized cryptocurrency exchanges have attracted not only the regular fraudsters that often come with new technology. The downfall of FTX and other exchanges like it has shown that Wall Street firms, banks, and hedge funds now use the crypto exchanges for all sorts of illegal fraudulent schemes, one obviously being the use of \"tokens\" to represent actual legitimate securities. As was discovered in the FTX situation, tokens sold by FTX and others claiming to represent actual stocks had no actual stocks backing them, and these tokens were used to skew and obscure price discovery as well as outright steal money from uninformed investors and give them something of no value in return. These endless corrupt schemes by a privileged few to siphon off the wealth of the United States citizenry needs to be stopped.