Oct. 15, 2023
Sent from Mail for Windows Dear SEC I am writing to provide feedback on the proposed amendments to the definition of "exchange" under the Securities Exchange Act of 1934. While I understand the desire to increase regulation of crypto asset trading, I am concerned the expanded definition and scope of the proposed rules is excessively broad. Specifically, the notion that any system providing the functionality of "bringing together buyers and sellers" of securities could be considered an exchange seems far too expansive. Under this interpretation, even individual investors interacting through smart contracts may fall under the definition and face unnecessary regulatory burdens. Rather than blanket regulation of all securities transactions, I believe a more measured, risk-based approach is appropriate. The SEC should aim to regulate significant platforms and actors, not everyday individuals transacting through smart contracts. Access to capital and financial innovation should not be stifled through regulatory overreach. I urge the SEC to reconsider the breadth of the proposed amendments and provide exemptions or limitations to avoid regulating everyday crypto asset transactions as national security exchanges. A collaborative approach that balances innovation and investor protection is needed. I hope you will take these concerns under consideration before finalizing any new rules. Kind Regards