Apr. 20, 2023
Dear Securities and Exchange Commission, I am writing to express my strong support for the proposed rule changes regarding exchange activity involving crypto asset securities and distributed ledger technology (DLT). I believe that these rule changes are necessary to ensure fair and transparent markets for all participants, and will help to promote innovation and growth in the digital asset industry. Crypto assets have become an increasingly important part of the financial landscape in recent years. Many investors are now interested in purchasing and trading these assets, and there are a growing number of platforms and exchanges that facilitate these transactions. However, there is currently a lack of clarity regarding the regulatory status of these platforms, which has led to uncertainty and confusion in the market. I believe that the proposed rule changes will help to address this issue by providing a clear regulatory framework for platforms that offer trading in crypto asset securities. By requiring these platforms to register as national securities exchanges or comply with the conditions of Regulation ATS, the SEC can ensure that these platforms are subject to the same level of oversight and regulation as traditional exchanges. In addition, I believe that the use of DLT in the trading of crypto assets is a significant development that should be encouraged. DLT has the potential to increase transparency and reduce transaction costs, which can benefit both investors and market participants. By explicitly recognizing the use of DLT in the trading of securities, the SEC can help to promote the adoption of this technology and encourage further innovation in the industry. Overall, I believe that the proposed rule changes will help to promote fair and transparent markets for all participants, while also encouraging innovation and growth in the digital asset industry. I urge the SEC to adopt these rule changes as soon as possible, and I look forward to seeing the positive impact that they will have on the market. Thanks, -- Jeff Frazier