Shane Michael Ferdig Comment On Regulatory Notice 22-08
Shane Michael Ferdig
N/A
Hello, and good day to you. This was a very involved read, and thanks to the hands that prepared it. I am a "retail investor", and I would just like to say, don't tell me how to spend my money under the guise of "offering protections to the less wealthy". Any regulations regarding "complex products" should deal solely with the broker of such products. If I've entered into a long strangle or some other options strategy that has zero potential of any payout, then that's my choice, which I am entitled to make, based upon the fact that I work 65+ hard hours a week for my money. If I want to invest it in a startup that ends up going nowhere, well, that's just fine. And for the love of God and all that is holy, what is going on with these cryptocurrency restrictions? Why are we restricted from the most profitable exchanges and outlets? And you all are buckling down? More exchanges ceasing to pay higher yields to Americans due to pressure applied by regulators - but only if they're not accredited?!? Why can we not use FTX, Binance, or gate.io? (Yes, I understand that we have specially designed for the United States - and incredibly basic and watered down - versions of FTX, and Binance, etc.) Because they pay out too much money? 19% on Celsius is just too much reward for us poor, working folk, huh? Why can we not participate in ICOs? We can, but only the meme or junk tokens - not the quality type offered on, say, GATE.IO!! We are "the land of the FREE, and the home of the BRAVE" - or at least we used to be - and there is nothing of freedom in your restrictions, nor brave in anyone's response, or lack thereof, to them. Your "regulation" of our freedom of financial choice is overreach, plain and simple. I don't need you doing me any "favors", I don't need your advice, and I certainly don't need you profit-blocking me every time I turn around. No matter how much my net worth is, I will always be "just" a "retail investor", because "accredited investor status" is pretentious, and should mean nothing, other than your yield percentage decreases and your taxes increase - the opposite of both of those is the current arrangement, as you know. There is nothing in any system of justice or jurisprudence, be it human or cosmic, that makes it acceptable for a person with more money to have more options to use and grow that money than a person with less money. Maybe accreditation would change what a broker offers, though it shouldn't, but it sure [REDACTED] shouldn't change a government agency's regulations. I see what's going on, and I don't agree with it. I am currently unrepresented in any segment of any government, and so I shall do as I please, but you all need to stop doing this to your own people. Almost the entire rest of the globe has access to higher profits and much higher yields, and products that we couldn't even imagine, and so they advance in wealth and knowledge while we remain in stasis, making us not only laggards, but also much easier targets for scammers and rug pullers. Unrestrict StormGain, FTX, Binance, and gate.io IMMEDIATELY. And if you wish to regulate something, regulate the registry of new tokens so there can be some accountability if roadmaps and whitepapers aren't strictly adhered to. And maybe that's more for the SEC, but y'all work in tandem. They don't know what [REDACTED] they're doing anyway, and end up banning their own digital payments currency. Lol. Or maybe they knew precisely what they were doing.... They could use some assistance from folks as knowledgeable and astute as yourselves. I'm not trying to be a jerk, and I apologize if I've come across as one. It's been very frustrating these past several months, hitting these brick walls y'all have built everywhere in the digital space. No telling how much y'all have cost me, making me sidestep around your barriers and blockades in search of alternatives to the obviously safer, more trustworthy options. Okay, I'm through. I have shouted my piece into the void, where I'm sure it shall eternally remain. The Lord bless you and keep you, the Lord make His face shine upon you and be gracious to you, the Lord turn His face toward you, and give you peace...
Shane Michael Ferdig Comment On Regulatory Notice 22-08
Hello, and good day to you. This was a very involved read, and thanks to the hands that prepared it. I am a "retail investor", and I would just like to say, don't tell me how to spend my money under the guise of "offering protections to the less wealthy". Any regulations regarding "complex products" should deal solely with the broker of such products. If I've entered into a long strangle or some other options strategy that has zero potential of any payout, then that's my choice, which I am entitled to make, based upon the fact that I work 65+ hard hours a week for my money. If I want to invest it in a startup that ends up going nowhere, well, that's just fine. And for the love of God and all that is holy, what is going on with these cryptocurrency restrictions? Why are we restricted from the most profitable exchanges and outlets? And you all are buckling down? More exchanges ceasing to pay higher yields to Americans due to pressure applied by regulators - but only if they're not accredited?!? Why can we not use FTX, Binance, or gate.io? (Yes, I understand that we have specially designed for the United States - and incredibly basic and watered down - versions of FTX, and Binance, etc.) Because they pay out too much money? 19% on Celsius is just too much reward for us poor, working folk, huh? Why can we not participate in ICOs? We can, but only the meme or junk tokens - not the quality type offered on, say, GATE.IO!! We are "the land of the FREE, and the home of the BRAVE" - or at least we used to be - and there is nothing of freedom in your restrictions, nor brave in anyone's response, or lack thereof, to them. Your "regulation" of our freedom of financial choice is overreach, plain and simple. I don't need you doing me any "favors", I don't need your advice, and I certainly don't need you profit-blocking me every time I turn around. No matter how much my net worth is, I will always be "just" a "retail investor", because "accredited investor status" is pretentious, and should mean nothing, other than your yield percentage decreases and your taxes increase - the opposite of both of those is the current arrangement, as you know. There is nothing in any system of justice or jurisprudence, be it human or cosmic, that makes it acceptable for a person with more money to have more options to use and grow that money than a person with less money. Maybe accreditation would change what a broker offers, though it shouldn't, but it sure [REDACTED] shouldn't change a government agency's regulations. I see what's going on, and I don't agree with it. I am currently unrepresented in any segment of any government, and so I shall do as I please, but you all need to stop doing this to your own people. Almost the entire rest of the globe has access to higher profits and much higher yields, and products that we couldn't even imagine, and so they advance in wealth and knowledge while we remain in stasis, making us not only laggards, but also much easier targets for scammers and rug pullers. Unrestrict StormGain, FTX, Binance, and gate.io IMMEDIATELY. And if you wish to regulate something, regulate the registry of new tokens so there can be some accountability if roadmaps and whitepapers aren't strictly adhered to. And maybe that's more for the SEC, but y'all work in tandem. They don't know what [REDACTED] they're doing anyway, and end up banning their own digital payments currency. Lol. Or maybe they knew precisely what they were doing.... They could use some assistance from folks as knowledgeable and astute as yourselves. I'm not trying to be a jerk, and I apologize if I've come across as one. It's been very frustrating these past several months, hitting these brick walls y'all have built everywhere in the digital space. No telling how much y'all have cost me, making me sidestep around your barriers and blockades in search of alternatives to the obviously safer, more trustworthy options. Okay, I'm through. I have shouted my piece into the void, where I'm sure it shall eternally remain. The Lord bless you and keep you, the Lord make His face shine upon you and be gracious to you, the Lord turn His face toward you, and give you peace...