As a concerned citizen, I strongly oppose the proposed legislation by the SEC regarding the safeguarding of advisory client assets in the context of cryptocurrency and digital assets. While I understand the need for regulatory measures to protect investors, I believe that the SEC is overreaching in this case. The SEC's attempt to extend its authority to the realm of cryptocurrency and digital assets goes beyond its mandate and encroaches on the jurisdiction of other regulatory bodies. Firstly, it is important to note that the SEC's authority is primarily derived from the Securities Exchange Act of 1934, which was enacted long before the emergence of cryptocurrencies. The Act defines securities and provides the SEC with regulatory powers over traditional financial instruments. However, cryptocurrencies and digital assets do not fit neatly into the existing legal framework, as they often possess characteristics that distinguish them from traditional securities. Therefore, it is inappropriate for the SEC to apply the same regulations to these new forms of assets without considering their unique nature. Furthermore, the SEC's proposal fails to acknowledge the jurisdictional overlap with other regulatory bodies such as the Commodity Futures Trading Commission (CFTC). Cryptocurrencies like Bitcoin have been classified as commodities by the CFTC, and the agency has already established a regulatory framework.