February 22, 2017
Dear Mr. Clayton and Mr. Piwowar,
The internet has brought us both the dot-com bubble and the crash. Through it all, however, countless companies like PayPal, Amazon, Google, Uber, have emerged. These companies create millions of jobs for America and attract highly trained individuals from all over the world to fuel further innovation in America.
With regards to Bitcoin being an investment vehicle and not holding an intrinsic value, I disagree strongly. There is great intrinsic value in frictionless money. Faster settlements result in more deals. Essentially, I expect Bitcoin to do for enterprises what credit cards have done for consumer industries. Bitcoin brings transparency and thus confidence in transactions.
Now, as China and PBOC have demonstrated, government oversight can be extremely effective in reducing Bitcoin's volatility. American entrepreneurs and job creators await SEC's recognition of this new industry with much anticipation. While SEC mustn't act rashly, SEC signaling its first steps into this general direction would be greatly celebrated by all innovators across the country.