Oct. 30, 2023
Dear Securities and Exchange Commission, I am writing to express my deep concern and frustration regarding the proposed rule "Safeguarding Advisory Client Assets" (File No. S7-05-21). As an investor, I strongly believe that measures should be taken to enhance investor protections, but I find the proposed rule to be inadequate and lacking in several key areas. One of my major concerns is the lack of clarity surrounding blockchain governance. The proposed rule fails to address the unique challenges and opportunities presented by blockchain technology, particularly in relation to digital assets such as cryptocurrencies. Blockchain technology has the potential to revolutionize the financial industry, offering increased transparency, security, and efficiency. However, without clear regulatory guidelines, businesses operating in this space may face unnecessary obstacles and uncertainty. I implore the SEC to collaborate with industry experts and stakeholders to develop comprehensive regulatory guidelines for blockchain governance. It is crucial that the SEC recognizes the benefits of blockchain technology and establishes appropriate regulations that foster innovation and economic growth, while safeguarding investor interests. Additionally, I have general interest in the proposed rule and would like to offer any further concerns or suggestions that may arise during the comment period. It is essential that the SEC considers the input of concerned citizens like myself to ensure that the final rule is well-rounded and addresses the needs of both investors and industry participants. Thank you for considering my heartfelt concerns regarding the "Safeguarding Advisory Client Assets" proposal. I hope that the SEC takes these issues seriously and makes the necessary amendments to create a regulatory framework that promotes investor protections and supports innovation in the digital asset ecosystem.