Jul. 17, 2023
RE: File No. S7-02-22 See: https://www.sec.gov/comments/s7-02-22/s70222.htm RE: SEC Reopens Comment Period for Proposed Amendments to Exchange Act Rule 3b-16 and Provides Supplemental Information See: https://www.sec.gov/news/press-release/2023-77 See Also: https://www.federalregister.gov/documents/2023/05/05/2023-08544/supplemental-information-and-reopening-of-comment-period-for-amendments-regarding-the-definition-of See Also Also: https://www.sec.gov/files/34-97309-fact-sheet.pdf See Also Also Also: https://www.govinfo.gov/content/pkg/FR-2023-05-05/pdf/2023-08544.pdf July 17, 2023 To Whom It May Concern: Recently we learned that there are a two new De Facto Rules that the Commission should take note of in its final Rulemaking release: https://twitter.com/jasoncoombsceo/status/1680767650262298629 https://twitter.com/jasoncoombsceo/status/1680769136845271040 1. All securities are Exempted until the issuer begins to pay dividends, because the 1933 Securities Act 15 U.S. Code § 77(c)(a)(4) says clearly that the federal securities laws do not apply to non-profit securities; https://twitter.com/jasoncoombsceo/status/1550310774152650753 https://twitter.com/jasoncoombsceo/status/1550311342938005504 https://www.law.cornell.edu/uscode/text/15/77c and, 2. Slack v. Pirani and the summary judgment ruling in SEC v. Ripple established a new securities regime for crypto: the federal securities law do not apply at all when financial assets are sold through exchanges. https://www.supremecourt.gov/opinions/22pdf/22-200_097c.pdf Now then, do carry on with your silly Rulemaking, and designate DeFi platforms and Decentralized Exchanges as securities Exchanges by definition, because the courts have just informed you that if crypto securities do trade through such Exchanges, they are Exempted securities that the SEC has no authority to regulate by enforcement and no issuer has any duty of disclosure or registration prior to sale. Here is an AI-generated mash-up song for you about securities regulation, to celebrate this momentous transformation of the securities market under your impressive and innovative leadership. Hey, Mr. SEC Man, play a song for me I'm not well-capitalized and I'm going no place Hey, Mr. SEC Man, play a song for me In your jingle jangle regulatory regime you come after me Though I know that America's empire has returned into sand Vanished from the land Left me blindly here to contemplate, but still not prospering My weariness amazes me, I'm branded with your scarlet letter I have no investors to meet And the ancient empty buttonwood tree's too dead for outside trading Hey, Mr. SEC Man, play a song for me I'm not well-capitalized and I'm going no place Hey, Mr. SEC Man, play a song for me In your jingle jangle regulatory regime you come after me Take me on a trip upon your magic nerd money ship My senses have been regulated My hands can't win at trial My toes too numb to litigate Wait only for your jack-boot heels to be trampling I'm ready to go anywhere, I'm ready for to pump Into my investor roadtrip Cast your enforcement spell my way, I promise to give in to it Hey, Mr. SEC Man, play a song for me I'm not well-capitalized and I'm going no place Hey, Mr. SEC Man, play a song for me In your jingle jangle regulatory regime you come after me Though you might hear pitching, offering, mooning madly across the sun It's not enticing anyone It's just capital formation on the run And but for the regulation by enforcement there are no transactions pending And if you hear vague Bloombergs spinning narratives of rhyme To your regulatory agency in time It's just a Gensler clown behind I wouldn't pay it with premine It's just a shadow banker that you're chasing Hey, Mr. SEC Man, play a song for me I'm not well-capitalized and I'm going no place Hey, Mr. SEC Man, play a song for me In your jingle jangle regulatory regime you come after me And take me appealing the court ruling through the fog of war in your head, in your head Down the violence caused by silence Far past the same old theme The haunted tanks and bombs and guns Out to West Gilgo beach Far from the twisted reach of zombie regulators Yes, to the same old theme in blue sky With one hand they are crying freedom Silhouetted by the Gary Circled by the circus Gensler With all MIT blockchain webcasts Driven deep in your head, in your head Let me see, it's not me, it's not my family Hey, Mr. SEC Man, play a song for me I'm not well-capitalized and I'm going no place Hey, Mr. SEC Man, play a song for me In your jingle jangle regulatory regime you come after me Thank you, AI Bob Dylan and AI Dolores O'Riordan. Jason Coombs https://jasoncoombs.com ceo@forensics.org 831-241-4900