Dear Securities and Exchange Commission, I am writing to provide my comments on the proposed rule "Safeguarding Advisory Client Assets." While I appreciate the SEC's efforts to enhance investor protections and address gaps in the custody rule, I have some concerns regarding the potential negative impact on investor access, particularly with regards to digital assets or cryptocurrencies. Digital assets, such as cryptocurrencies built on blockchain technology, have been transforming the financial landscape and providing new investment opportunities for individuals. However, regulatory uncertainties surrounding these assets have posed challenges for investors. The proposed rule may further restrict investor access to digital assets, limiting their ability to participate in this emerging asset class. It is crucial to strike a balance between investor protection and nurturing innovation in the financial industry. While I understand the need to safeguard client assets, it is equally important to ensure that investors have access to a diverse range of investment options, including digital assets. Restricting access to these assets may hinder the potential growth and development of the fintech industry, stunting innovation and limiting investment opportunities for individuals. Furthermore, the proposed rule's approach to digital assets may not fully address the unique nature and characteristics of these assets. Digital assets operate on decentralized systems and are often held in digital wallets rather than traditional custodial accounts. Applying the same custody requirements designed for traditional assets to digital assets may not be suitable or effective in ensuring their proper safeguarding. I urge the SEC to carefully consider the rapidly evolving nature of digital assets and develop regulations that take into account their distinctive features. Collaboration with industry experts and stakeholders in the fintech space would be beneficial in crafting rules that strike a balance between protecting investors and fostering innovation. Moreover, existing regulations and frameworks already address some of the concerns raised by the proposed rule. For example, the Financial Crimes Enforcement Network (FinCEN) has issued guidance on the application of its regulations to virtual currency businesses, providing a framework for compliance with anti-money laundering and know-your-customer obligations. I recommend that the SEC build upon existing frameworks and work in conjunction with other regulatory bodies, such as FinCEN, to develop comprehensive regulations specific to digital assets. This will ensure that investors are adequately protected without stifling the growth potential of this rapidly evolving industry. In conclusion, the proposed rule's potential negative impact on investor access to digital assets raises concerns about limiting investment opportunities and impeding innovation. It is crucial for the SEC to consider the unique characteristics of digital assets and collaborate with industry experts in crafting regulations that strike a balance between investor protection and fostering the growth of the fintech industry. Thank you for considering my comments. Sincerely, Ian Hardcastle