It should not be any of the governments business in what or how a citizen invests their own money. All your regulations really do is protect the good old boys club of those who are already wealthy and connected. The only ones being fooled here by crypto regulations is yourselves, we know what the status quoe is.
Crypto currency is a threat to the Federal government because they cannot control it. And to have to get permission from your broker is ridiulous. Most are dumber than 'door nails.' Leave it alone. It is the only way 'blue collar workers' can compete. Government does not have those same restrictions on sports betting and OTB.
Pushing unregulated crypto to the masses is nothing short of racketeering. I am a risk professional. Your industry has ZERO creditability in this arena. These products are the only thing protecting retail investors from the FED fueled, financially engineered, derivatives death star. FINRA's attempt at regulation is an indictment on the financial systems lack risk management.
I do not support these changes. I should not need approval from my bank to make an investment. These rules are ridiculous! I consult with a financial advisor from a well known institution. These investment tools are risky, but I feel they are unique and productive. They are made up of reputable companies. Regulators should be more concerned about crypto. A real pyramid system.
The Fed and Congress together have conjured, and spent, $6,500,000,000,000 in two years. This coupled with inflation are devaluing the dollar.
FINRAs response? Take control of Crypto and block the exits.
Separately, FINRA is trying to prevent retail investors from trading downward during this decline and instead force them to lock their retirement monies in long. Only long. This is criminal.
These "complex products" allow retail investors to hedge properly. There are already warnings that pop up when trading leveraged funds. This change would cause a disadvantage to investors instead of helping. It could also push newer investors towards less regulated markets, like crypto. Additional regulation would work against retail investors.
I'm astounded that you would attempt to limit access to leveraged funds on on regulated securities through registered brokers on public regulated exchanges, while doing nothing to restrict trading of unregulated, crypto currency in speculative ponzy schemes, that are wildly volatile, and subject to blatant market manipulation with pump-and-dump as a regular practice. This is the
Hello, I wanted to iterate just how important blockchain technology is for everyone, not just the small investors. It is indubitable that crypto is the future of finance. I just hope that regulators are educated before making an rash decisions, because then the U.S. will be left even further behind in the new age of finance. For EVERYONEs benefit, for the love God, dont try to implement a CBDC.
This is without merit and I dont need the government telling me what I can and cannot invest within. Im an adult who has been investing and or trading for over 25 years. Please do not take away my ability to trade crypto etfs or derivatives off of it . Also, the government will be limiting their tax revenues in a lot of cases!!
Members of Congress, I urge you not to ban the investment of cryptocurrencies ETFs. This is the only safe way for me to invest in cryptocurrencies as the only other option is to make a separate crypto account. So please, as an American, please don't ban Cryptocurrencies ETF. Instead, I urge you to focus on closing loopholes and deductions the rich use to evade taxes.
