Apr. 20, 2023
April 20, 2023 Dear Securities and Exchange Commission, I greatly support the rule changes regarding exchange activity involving crypto asset securities and distributed ledger technology (DLT). These rule changes are necessary to ensure fair and transparent markets for all participants, and they will also help grow the digital asset industry. Crypto assets have become an increasingly important part of the financial landscape. Many investors are now interested in purchasing and trading these assets, and there are a growing number of platforms and exchanges that facilitate these transactions. However, there is currently a lack of clarity regarding the regulatory status of these platforms, which has led to uncertainty and confusion in the market, and possibly manipulation of said markets. The proposed rule changes will help address these issues by providing a clear regulatory framework for platforms offering trading of 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 these platforms are subject to the same level of oversight and regulation as traditional exchanges. In addition, the use of DLT in the trading of crypto assets is a significant development that should be encouraged. DLT has the potential to increase transparency and reduce transaction costs, which will benefit both investors and market participants. By explicitly recognizing the use of DLT in the trading of securities, the SEC can help promote the adoption of this technology, and also encourage further innovation in the industry. Overall, the proposed rule changes will help promote fair and transparent markets for all participants, while also encouraging innovation and growth in the digital asset industry. I urge the SEC to adopt these rule changes as soon as possible, and I look forward to seeing the positive impact they will have on the market.