This un levels the playing field so large wealth and insiders can get the largest reward on new and yet untested investment opportunities. To have wealth, is to always have an advantage for more wealth. This is unfair and difficult for minimally wealthy investors to have a similar chance at getting the best returns for getting in early. This effort is on the surface to keep small investors without sophistication from losing all their money. That is noble, and makes sense. Yes, there are many rug pulls and ways to take terrible losses in crypto, but this is true of conventional investment as well. I would advocate the government seeks to make crytpo as TRANSPARENT as possible and educate all of us to the particular set of strange problems that crypto represents. Put your effor there please, less in restricting the ability to make ground floor level profits, and simply expecting small investors to take an index fund and go to sleep. The balance between open capitalism and protective restriction is difficult, and it is hard to regulate the bad projects while not hurting the good ones. I am not writing to tell you all the answers, but simple restrictions to make an un level playing field are also simple ways to keep the big investors, big. One last thing - the good projects in crytpo represent a giant new approach to a more equal and democratic financial future for all. This will happen with our without US regulations. You will simply slow it down, and force US citizens to to participate, letting others in the world get ahead due to SEC or government meddling. This is a growth industry for the next 3 decades .. why would you not want the US at the fore front of this? Why would we as a nation put one arm tied behind our back, when we can LEAD THE WORLD, in the exciting new future? On that level, I see this as misguided, and not thinking long term - it solves some near term regulation worries, and is long term self sabatoging and frankly near sighted and stupid. While scammy stable coins like TETHER and scammy projects like TRON or even TERRA should have a high degree of skepticism and regulation put toward them - BITO and ETHE are simple ways for small investors to participate - and neither of these fall into scams. I have lost money in a host of regulated stocks in my life - this is potentially just a more rapid version, but mostly becuase it is a less liquid market - since it is new. Please all me to invest in exchange traded vehicles that represent QUALITY crytpo projects. I hope you read this and understand I understand the goverrmentmets position, and disagree with it for very specific and well considered reasons. Do not let other countries bypass our leadership in the future of financial instruments - represented by high quality crypto and digital assets. Thanks for your time and consideration.
David Daniels Comment On Regulatory Notice 22-08
This un levels the playing field so large wealth and insiders can get the largest reward on new and yet untested investment opportunities. To have wealth, is to always have an advantage for more wealth. This is unfair and difficult for minimally wealthy investors to have a similar chance at getting the best returns for getting in early. This effort is on the surface to keep small investors without sophistication from losing all their money. That is noble, and makes sense. Yes, there are many rug pulls and ways to take terrible losses in crypto, but this is true of conventional investment as well. I would advocate the government seeks to make crytpo as TRANSPARENT as possible and educate all of us to the particular set of strange problems that crypto represents. Put your effor there please, less in restricting the ability to make ground floor level profits, and simply expecting small investors to take an index fund and go to sleep. The balance between open capitalism and protective restriction is difficult, and it is hard to regulate the bad projects while not hurting the good ones. I am not writing to tell you all the answers, but simple restrictions to make an un level playing field are also simple ways to keep the big investors, big. One last thing - the good projects in crytpo represent a giant new approach to a more equal and democratic financial future for all. This will happen with our without US regulations. You will simply slow it down, and force US citizens to to participate, letting others in the world get ahead due to SEC or government meddling. This is a growth industry for the next 3 decades .. why would you not want the US at the fore front of this? Why would we as a nation put one arm tied behind our back, when we can LEAD THE WORLD, in the exciting new future? On that level, I see this as misguided, and not thinking long term - it solves some near term regulation worries, and is long term self sabatoging and frankly near sighted and stupid. While scammy stable coins like TETHER and scammy projects like TRON or even TERRA should have a high degree of skepticism and regulation put toward them - BITO and ETHE are simple ways for small investors to participate - and neither of these fall into scams. I have lost money in a host of regulated stocks in my life - this is potentially just a more rapid version, but mostly becuase it is a less liquid market - since it is new. Please all me to invest in exchange traded vehicles that represent QUALITY crytpo projects. I hope you read this and understand I understand the goverrmentmets position, and disagree with it for very specific and well considered reasons. Do not let other countries bypass our leadership in the future of financial instruments - represented by high quality crypto and digital assets. Thanks for your time and consideration.