Dear SEC, I am writing to submit my public comment 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 several concerns regarding the lack of clarity on the definition of digital assets. The proposed rule does not provide clear guidance on what constitutes a digital asset, leading to confusion and potential misinterpretation. In today's rapidly evolving financial landscape, digital assets, such as cryptocurrency, built on blockchain technology, are transforming finance. However, regulatory uncertainties surrounding digital assets pose significant challenges for both investors and investment advisers. Without a clear definition of digital assets, investment advisers may struggle to understand their regulatory obligations and how to effectively safeguard these assets. This ambiguity may lead to compliance issues and hinder the development and adoption of innovative financial products and services. In order to foster a healthy regulatory environment that promotes investor protection while encouraging innovation, it is crucial that the SEC provides clear guidance on the definition of digital assets. By doing so, the SEC can alleviate confusion, enhance regulatory compliance, and enable investment advisers to effectively safeguard client assets. Furthermore, the SEC should consider collaborating with industry experts and stakeholders to gain a comprehensive understanding of the unique characteristics and risks associated with digital assets. By involving relevant parties in the regulatory process, the SEC can benefit from their expertise and insights, ultimately leading to more informed and effective regulation. It is also important to note that regulatory clarity surrounding digital assets can foster investor confidence and attract capital to the industry. As more individuals and institutions explore investment opportunities in digital assets, clear and consistent regulations will help mitigate risks and promote a healthy and sustainable market. In light of these concerns, I urge the SEC to prioritize providing a clear definition of digital assets within the proposed rule. By providing clarity and guidance, the SEC can foster innovation, enhance investor protections, and facilitate the growth of the digital asset ecosystem. Thank you for considering my comments. I look forward to further dialogue and collaboration on this important topic. Sincerely, Ricardo