Eleftherios Demetriou Comment On Regulatory Notice 22-08
Eleftherios Demetriou
N/A
I can see your concerns, but the proposed approach it is not the proper one. It appears to be at least discriminatory and distorting. I can write many pages, but I will be very brief for two of the points: 1. Demonstrate a high net worth : This is discriminatory. The absolute value is irrelevant. What is relevant is a relative value. (If someone's net worth is $100,000 and choose to invest $1,000 to crypto funds is the same as with someone else whose net worth is $10,000,000 and choose to invest $100,000. Both chose to allocate 1% of their net worth). 2. Go through cooling off periods during which you cant invest : Distortions to any market always create inflationary and/or deflationary pressures. Let the cryptocurrency funds/market be guided by its demand and supply forces in order to achieve the problem long run equilibrium.
Eleftherios Demetriou Comment On Regulatory Notice 22-08
I can see your concerns, but the proposed approach it is not the proper one. It appears to be at least discriminatory and distorting. I can write many pages, but I will be very brief for two of the points: 1. Demonstrate a high net worth : This is discriminatory. The absolute value is irrelevant. What is relevant is a relative value. (If someone's net worth is $100,000 and choose to invest $1,000 to crypto funds is the same as with someone else whose net worth is $10,000,000 and choose to invest $100,000. Both chose to allocate 1% of their net worth). 2. Go through cooling off periods during which you cant invest : Distortions to any market always create inflationary and/or deflationary pressures. Let the cryptocurrency funds/market be guided by its demand and supply forces in order to achieve the problem long run equilibrium.