Apr. 20, 2023
Dear Sir/Madam, I am writing to express my enthusiastic support for the proposed rule changes regarding exchange activity involving crypto asset securities and distributed ledger technology (DLT). I firmly believe that these rule changes are essential for guaranteeing fair and transparent markets for all participants, and will help to foster innovation and growth in the digital asset industry. Crypto assets have become an increasingly important part of the financial landscape in recent years, and many investors are now eager to purchase and trade these assets. To facilitate these transactions, a growing number of platforms and exchanges have emerged, though the regulatory status of these platforms is currently unclear, creating an atmosphere of uncertainty and confusion. I believe that the proposed rule changes will help to resolve this issue by establishing a clear regulatory framework for platforms offering trading in crypto asset securities. By requiring these platforms to register as national securities exchanges or comply with the conditions of Regulation ATS, the SEC can ensure that these platforms are subject to the same level of oversight and regulation as traditional exchanges. Furthermore, I believe that the use of DLT in the trading of crypto assets is a major development that should be embraced. DLT has the potential to increase transparency and reduce transaction costs, which can benefit both investors and market participants. By explicitly recognizing the use of DLT in the trading of securities, the SEC can help to promote the adoption of this technology and encourage further innovation in the industry. In conclusion, I am confident that the proposed rule changes will help to promote fair and transparent markets for all participants, while also encouraging innovation and growth in the digital asset industry. I strongly urge the SEC to adopt these rule changes as soon as possible, and I am eager to witness the positive impact that they will have on the market. Thank you for your consideration, ZK.