Oct. 19, 2023
Dear SEC, I'm writing to express my concern about the SEC's classification of cryptocurrencies like Bitcoin, Ethereum, Pulsechain, PulseX, and Hex as securities. This classification doesn't align with the fundamental nature of these digital assets. Consider Bitcoin, designed as a decentralized digital currency, or Ethereum, a platform for decentralized applications and smart contracts. These serve different purposes compared to traditional securities. Pulsechain is a blockchain network designed to enhance the DeFi (Decentralized Finance) ecosystem. It offers fast and low-cost transactions, aiming to improve upon existing blockchain infrastructure. Hex is a cryptocurrency designed to act as a store of value and yield generator. It operates through staking mechanisms that reward holders for locking up their Hex tokens. Importantly, Hex staking provides more Hex tokens, but their price is unknown. It's akin to having more Monopoly money – there's no expectation of profit as you would anticipate with traditional securities. I urge the SEC to work collaboratively with experts to develop a more accurate framework for classifying cryptocurrencies. This approach would protect investors and preserve innovation in the blockchain and crypto sector, affecting various industries, including real estate and development. Your attention to this matter is greatly appreciated. Sincerely, KC