July 11, 2018
As more and more first-time investors turn to the markets to help secure their futures, pay for homes, and send children to college, our investor protection mission is more compelling than ever.
As our nation's securities exchanges mature into global for-profit competitors, there is even greater need for sound market regulation.
And the common interest of all Americans in a growing economy that produces jobs, improves our standard of living, and protects the value of our savings means that all of the SEC's actions must be taken with an eye toward promoting the capital formation that is necessary to sustain economic growth."
I have more distrust in our current system than I do the cryptocurrency market. Dark pools, high frequency trading, stock buybacks. What pristine system are we protecting here? I am an investor; protect me. Protect me from the fear the U.S. regulatory bodies bring in their decisions. As an American, I wonder how many first mover advantages we plan to forfeit. We will be the last country to move to renewable energy...as long as it remains a political mockery. I hope the same fate does not befall this asset class.
We have a brand new asset class with the opportunity for people to control their financial future. An asset class that is nascent but proven it is here to stay. How much of this pie are you going to allow America to have? How much would you like to forfeit to the rest of the world?
If I want to buy $1,000 in Bitcoin, it costs me $3 in fees. If I want to invest $50 in my Vanguard, it costs me $9. Protect those who are truly the most vulnerable. There is no obligation of yours to protect those sitting behind large financial, regulatory, infrastructural moats simply to keep the status quo.
Best,
Bryce