Dear Securities and Exchange Commission, I am writing to provide my public comment on the proposed RE: Safeguarding Advisory Client Assets. While I understand the objective of enhancing investor protections and addressing gaps in the custody rule, I have concerns regarding the potential negative impact on blockchain innovation and the privacy implications associated with the proposed regulations. Firstly, the regulations may impose excessive regulatory burdens and impediments on blockchain innovation. As blockchain technology continues to evolve, it offers tremendous potential for various industries, including finance. However, by subjecting crypto assets to the same custodial requirements as traditional assets, the proposed rules may stifle innovation in this space. It is essential to strike a balance between investor protections and fostering technological advancements. Furthermore, the proposed regulations raise concerns regarding privacy and the safety of sensitive financial data. With the expanded scope of the rule, a broader range of personal financial information will be accessible to third parties, including social security numbers. This increased exposure raises questions about the vulnerabilities and potential misuse of this data. It is crucial to consider alternative approaches that provide investor protections while minimizing unnecessary disclosure of personal and sensitive information. In addition to these concerns, I would like to provide a few general comments on the proposed rule. Firstly, the transition period and compliance dates should be carefully evaluated to ensure that investment advisers have sufficient time to implement the required changes effectively. A rushed implementation could lead to unintentional errors and increased compliance costs. Moreover, I appreciate the SEC's consideration of the economic effects of the proposed rule. However, it remains challenging to accurately quantify these effects due to the varying practices among investment advisers. I urge the SEC to conduct further research and engage in industry consultations to ensure that the economic analysis reflects the realities of the advisory industry. Finally, I would like to request that the SEC closely monitor the impact of the proposed regulations on small entities, especially regarding compliance costs. It is essential to provide support and guidance to these entities to ensure their continued participation in the market. In conclusion, I believe it is crucial to address potential negative impacts on blockchain innovation and privacy concerns associated with the proposed rule. By taking a balanced and thoughtful approach, the SEC can enhance investor protections without impeding technological advancements. I appreciate the opportunity to provide these comments and hope they will be carefully considered. Kindly, Anonymous