Apr. 18, 2023
April 18, 2023 In regards to the SEC's rule proposal, namely Gary Gensler's changes to proposal S7-02-22, I am in support of the article. With the introduction of new technology and its incorporation into the marketplace today, these rules appear to be a sincere attempt to lay the groundwork for making various new exchanges part of the economic environment. I believe this is a far better approach than the rules laid out in Representative Mark Warner's RESTRICT Act, which seeks to criminalize the use of such technology. The SEC is stating with this proposal that it is in support of permitting crypto-centric exchanges and decentralized finance, provided they are held to similar standards as the rest of the industry. States such as New York placed tough restrictions on crypto platforms that wished to conduct business within state lines, and it has resulted in better-structured, more stable exchanges. Decentralized finance provides a number of solutions and improvements to traditional finance and investment services, and most importantly, gives more power to the household investor. Once more, I am in support of this legislation, and thank Gary Gensler and the SEC for opening up for commenting, and their dedication to individual investors.