Mar. 02, 2022
To whom it may concern, I have read the summary and details of the proposed rule to add transparency to the act of securities lending. I believe that more transparency will only help create a more fair market for everyone involved, and is a step in the right direction. However, I do have one concern that I did not find in the rule, or might have overlooked. What is the take the agency will have on cryptocurrencies? I understand that cryptocurrencies are not exactly viewed as a true currency, and rather a form of property, but can act more like a security when involved in the act of lending. I propose that adjustments be made to the rule in order to avoid loop holes, which cryptocurrency lenders may use to reduce transparency. Even if full transparency is not attainable, some transparency might suffice in the efforts to promote market fairness. Even more so, if a by product of this rule is to reduce short selling. Adding applicable transparency to cryptocurrency will reduce the amount of short selling cryptocurrency.