Thank you for the opportunity to provide a public comment on the SEC's proposed rule "Safeguarding Advisory Client Assets." Overall, I have concerns regarding the inadequate consideration of decentralized autonomous organizations (DAOs) and the unique challenges they face within the proposed rule. Additionally, I believe there needs to be further discussion and involvement of the crypto community when it comes to the regulation of digital assets. As the proposal aims to enhance investor protections, it is crucial to recognize the transformative nature of digital assets, particularly cryptocurrency. These assets, built on blockchain technology, are reshaping the financial landscape by enabling decentralized transactions and encouraging innovation. However, regulatory uncertainties have been a significant challenge for the development and adoption of these assets. In the case of decentralized autonomous organizations (DAOs), the proposal does not adequately consider their unique characteristics and challenges. DAOs operate in a decentralized manner, involving a network of participants rather than a traditional hierarchical structure. These entities are governed by smart contracts and rely on community decision-making, making them distinct from traditional investment advisers. Given this distinction, it is imperative that the SEC takes a nuanced approach in the regulation of DAOs. Blanket rules and requirements might hinder the development and growth of these innovative entities, potentially stifling the potential benefits they can bring to investors and the broader economy. Therefore, I urge the SEC to conduct further research and engage with stakeholders from the crypto community to gain a deeper understanding of DAOs and their operational challenges. Furthermore, in relation to digital assets and cryptocurrencies more broadly, it is crucial to involve the crypto community in the regulatory process. The proposal recognizes the challenges in demonstrating exclusive control over crypto assets, and rightly so. However, involvement from the crypto community can provide valuable insights and perspectives on how to best regulate these assets while maintaining the principles of decentralization and privacy that are inherent to cryptocurrencies. Cryptocurrencies are not typically owned or controlled by any central entity or organization. They are decentralized, borderless, and exist on a global scale. Therefore, regulations should be crafted in a manner that not only addresses the concerns of investor protection and financial stability but also takes into account the principles of decentralization, privacy, and the community consensus upon which cryptocurrencies operate. I suggest the SEC actively engages with representatives from the crypto community and considers their input throughout the rulemaking process. This involvement will help ensure that regulations are not only effective at safeguarding client assets but also aligned with the principles and goals of the crypto community. In conclusion, the SEC's proposed rule "Safeguarding Advisory Client Assets" needs to adequately consider the unique characteristics and challenges posed by decentralized autonomous organizations. Additionally, the involvement of the crypto community in the regulation of digital assets, including cryptocurrencies, is crucial to strike the right balance between investor protection and the principles of decentralization and community consensus. Thank you for considering my concerns, and I look forward to further dialogue on how to effectively regulate digital assets and accommodate the evolving landscape of decentralized finance. Sincerely, Justin