Dear SEC Commissioners and Staff, The proposed rule redefining "exchange" to sweep in all kinds of decentralized finance (DeFi) activity operating on decentralized blockchains such as Ethereum would effectively ban DeFi in the United States. Rather than banning DeFi, the United States should be on the forefront of promoting this freedom-enhancing technology. America has always stood at the precipice of innovation, and with a tradition of enabling world-changing technologies, now is yet another opportunity to advance that tradition. The SEC should seriously re-think and re-consider its position on this. Otherwise, it risks alienating millions of citizens of America. At the very least, the SEC should withdraw the rule proposal until after the next election cycle, and let fresh eyes consider its implications.