I am writing to provide my public comment on the proposed rule titled "Safeguarding Advisory Client Assets" (Release No. IA-5653; File No. S7-28-21) from the Securities and Exchange Commission (SEC). Firstly, I appreciate the SEC's efforts to enhance investor protections and address gaps in the custody rule through this proposed rule. However, I have identified certain concerns and issues that I would like to raise for your consideration. One area of concern is the insufficient consideration of blockchain interoperability in the proposed regulations. As the regulatory landscape evolves alongside advancements in technology, it is crucial to ensure that these regulations account for the potential benefits of cross-chain asset management. The proposed rule does not adequately address how different blockchain networks can interact and facilitate seamless asset transfers. By not addressing this issue, the rule may inadvertently hinder the growth and efficiency of the asset management industry. Furthermore, there is a specific concern regarding the confusion generated by the proposed regulations' reporting requirements for various participants in decentralized finance (DeFi). It is crucial to have clear and concise reporting guidelines to prevent multiple and inconsistent reports from being generated for the same transaction. This potential confusion poses risks to compliance and undermines the intended benefits of the proposed rule. In addition to the aforementioned concerns, I would like to raise an issue regarding the overreach of government where it does not apply. It is essential to strike a balance between regulation and innovation. While safeguarding client assets is of utmost importance, it is equally important not to stifle technological advancements or create unnecessary barriers to entry for emerging market participants. The proposed regulatory framework should take into account the dynamic nature of the asset management industry and avoid being overly prescriptive in areas where government intervention may not be warranted. I commend the SEC's efforts to conduct an economic analysis of the proposed rule and its potential effects. However, I urge the SEC to ensure that its analysis thoroughly considers the costs and benefits of the proposed rule, including any potential unintended consequences. It is imperative to strike a balance between investor protection and the potential burden imposed on investment advisers by ensuring that the compliance costs are proportionate and the rule amendments do not unduly hamper competition and capital formation. Moreover, the SEC's solicitation of comments on the proposed collections of information under the Paperwork Reduction Act Analysis is appreciated. It is imperative to evaluate the necessity, accuracy, quality, and burden of these information requirements to ensure effective implementation while mitigating any undue compliance costs on investment advisers. In conclusion, I urge the SEC to carefully review and address the concerns raised in this public comment regarding blockchain interoperability, the potential confusion in reporting requirements for DeFi participants, and the potential overreach of government where it does not apply. Furthermore, I encourage the SEC to conduct a comprehensive assessment of the economic impacts of the proposed rule and ensure that the compliance burden on investment advisers, particularly smaller entities, remains reasonable. Thank you for the opportunity to provide my input on this important matter. I trust that the SEC will thoroughly consider all public comments while finalizing the rule amendments. Should you require any further information or clarification, please do not hesitate to contact me. Sincerely, Ms Harshway