Apr. 20, 2023
April 20, 2023 Dear SEC, Regulation is a useful tool for keeping exploitative individuals and organizations in check. However, it is a tool which is ill-suited for the task of overseeing protocols which are already transparent and deterministic. Indeed, the appeal of protocols is to remove the burden of manual, expensive, and spotty legal and regulatory enforcement. Investors (as well as individuals who transact in crypto assets for non-investment purposes) want nothing more than transparent and direct interaction with the cryptographically enforced protocols with which they freely choose to interact. The SEC would do well to understand the distinction: the Commission should apply itself strictly and more aggressively to the regulation of \"organizations, associations, or groups of persons\" who regularly seek to entice investors with derivatives, entitlements, and other similar financial and legal fabrications that are tangential to crypto assets. There is no shortage of such organizations in the financial industry, and they are at the heart of all recent problems related to crypto assets. Conversely, the Commission should respect individuals' unfettered ability to interact with the underlying crypto assets directly, free of burdensome and ultimately incongruous, ham-fisted attempts to apply regulations to protocols, underlying assets, their maintainers/developers, or the private use of said protocols/assets. Thank you