About half of the nation’s financial advisors personally own crypto. If this rule is enacted, upwards of a hundred thousand FAs will have to inform their B/Ds of their crypto holdings and seek written permission to keep them. If permission is not obtained, the FAs will be required to sell their crypto assets, transfer to another firm that permits their investments, or be terminated.

Re: Comment on FINRA Regulatory Notice 25-05 – Proposed Rule 3290

Submitted by: Desiree Moreno Pineyro

Date:05/05/2025

To:

Jennifer Piorko Mitchell

Office of the Corporate Secretary

Financial Industry Regulatory Authority (FINRA)

1700 K Street, NW

Washington, DC 20006

Dear Ms. Mitchell,

We do not need more regulation. We need less and financial advisors should be allowed to own digital assets!

Thank you for the opportunity to comment on Regulatory Notice 25-05. While I support efforts to streamline oversight, I oppose the proposed consolidation of Rules 3270 and 3280 in their current form.

The definition of "investment-related activities" is overly broad and risks encompassing low-risk or personal activities that do not warrant regulatory scrutiny. This may overwhelm firms with unnecessary reporting while distracting from truly material conflicts.

I am strongly opposed to this rule!! This is 2025, this will out us back into the dark ages!! This is another attempt at regulatory overreach!! Biden and Gensler are gone, thank God!!! Lets move forward not backwards!!