Dear Securities and Exchange Commission, I am writing to provide my public comment on the proposed rule titled "Safeguarding Advisory Client Assets." While I appreciate the aim of enhancing investor protections and addressing gaps in the custody rule, I have several concerns regarding the scope and potential overreach of the regulatory authority exercised by the SEC. It is crucial to ensure that any rule implemented strikes a balance between protecting investors and fostering innovation in the financial industry. One area of significant concern is the regulation of digital assets, specifically cryptocurrencies built on blockchain technology. While the SEC recognizes the challenges posed by regulatory uncertainties in this space, I believe that the proposed rule fails to adequately address these issues. By failing to consider mitigating factors and potentially inhibiting legitimate activities involving digital assets, the rule may stifle capital formation and hinder the transformative potential of this technology. Narrow safe harbors and overly stringent deadlines do not provide the necessary flexibility for businesses operating in this rapidly evolving sector. I urge the SEC to take into account the reliance interests of market participants and consider case precedents that have shaped the regulation of digital assets. Another concern relates to the neglect of taxpayer rights in the proposed rule. Unfair levies and seizures, along with punitive provisions that reward bad actors, can undermine taxpayer confidence and hinder job creation. The rules should strike a balance between effective oversight and the protection of taxpayer rights to ensure a fair and equitable regulatory framework. Additionally, I express concern over insufficient comment periods, which restrict the ability of stakeholders to provide meaningful feedback on the proposed rule. This undermines the principles of transparency and participatory decision-making and violates the regulatory process. Furthermore, the proposed rule fails to adequately consider the economic impact and potential unintended consequences. Insufficient data protection measures and limited public participation can compromise the integrity and fairness of the rule-making process. The rule should adequately assess the impact on the economy, taking into account international norms and the opinions of stakeholders. Unrealistic income brackets, inefficient audit processes, and inadequate impact assessments can lead to unnecessary disputes and legal challenges. The SEC should ensure effective reporting systems and continue to engage stakeholders in evaluating the rule's effectiveness. Another area of concern is the lack of multilingual support and limited access to information for individuals who may be adversely affected by the proposed rule. This hampers their ability to understand and comply with the regulatory requirements. Depriving taxpayers of clear responsibilities further contributes to confusion and inconsistencies in the application of the rule. To ensure fairness, the SEC must consider the capabilities and circumstances of taxpayers, engage in effective dispute resolution mechanisms, and provide multilingual support. Additionally, the proposed rule imposes unreasonable burdens on businesses, impairs voluntary compliance, and creates traps for the unwary. These factors risk discouraging investment, hindering job creation, and stifling innovation in the advisory industry. A careful review and revision of the rule's requirements, ensuring consistency and clarity, are essential to support voluntary compliance and foster a vibrant and competitive market. In conclusion, I kindly request the SEC to address the concerns raised about potential overreach of regulatory authority, particularly in the context of digital assets. Additionally, I urge the SEC to prioritize taxpayer rights and incorporate adequate safeguards to reduce ambiguity, improve efficiency, and foster a fair and transparent regulatory environment. Robust data-driven analysis, ample comment periods, and stakeholder engagement are paramount to create effective and well-informed regulations. Thank you for considering my comments on this important matter. Sincerely,