July 11, 2018
The following is my comment:
I would like to start by noting that many nations on the forefront of science and technology are funding and focusing on blockchain and cryptocurrency research already as a streamlined, no-trust-required means of verifying authenticity for medicines, cosmetics, vehicles, financial transactions and more.
With counterfeit products being a $460 billion industry, money transfer almost a $1 trillion industry, and a host of other first-world countries (including Switzerland, Japan and Germany) endorsing this new set of technologies, I believe the United States and the SEC would do Americans a great injustice by failing to support investments into Bitcoin. Failing to support investment is forcing us to fall behind in terms of US-based blockchain research and adoption as well as falling prey to half a trillion in fake products every year, some of which (like counterfeit medicines or auto parts) can be harmful or fatal to the unwitting consumer.
Volatility is a concern quoted frequently, but it is a natural effect of new markets or technologies who have just recently courted the interest of investors. We only need to look as far back as the dot-com bubble to see that there will be winners and losers, but the important facet is to allow funding so that these technologies show progress and begin to benefit more people.
Please join me in supporting laws, rules and initiatives that keep our country on the cutting edge of technology.