Dear Securities and Exchange Commission, I am writing to express my concerns regarding the proposed rule on "Safeguarding Advisory Client Assets." While I appreciate the agency's efforts to enhance investor protections, I am worried about the potential negative impact these regulations may have on blockchain innovation and the digital asset industry. Digital assets, such as cryptocurrencies, have emerged as transformative financial instruments, built on the foundation of blockchain technology. However, regulatory uncertainty and burdensome requirements have posed significant challenges for this nascent industry. I believe that the proposed rule may further stifle blockchain innovation by imposing excessive regulatory burdens and impeding the growth of new and innovative products. Specifically, I am deeply troubled by the SEC's recent filing against Richard Heart, which has caused a major decline in the value of digital assets like Hex, Pulsechain, and PulseX. As a significant investor in these assets, the financial repercussions of the SEC's actions have been unprecedented and detrimental to my financial stability. It is disheartening to see regulatory actions that negatively impact diverse investment opportunities, undermine market confidence, and hinder the wealth-building potential of individual investors like myself. I also find it concerning that other countries seem to have embraced the potential of digital assets and cryptocurrencies, while the United States continues to grapple with an uncertain regulatory landscape. These jurisdictions have recognized the importance of fostering innovation and capital formation in this rapidly evolving sector. By contrast, the proposed rule seems to hinder progress and limit opportunities for those seeking financial success and security. I urge the SEC to reconsider its stance on digital assets, recognizing the immense economic and technological possibilities of blockchain innovation. Rather than erecting barriers, it is crucial to foster an environment that encourages responsible innovation, safeguards against fraudulent activities, and enables individual investors to tap into the transformative potential of blockchain technology. In conclusion, while I support the SEC's objectives of enhancing investor protections, I believe the proposed rule on "Safeguarding Advisory Client Assets" should be revised to strike a better balance between regulation and innovation. This can be achieved by taking into account the unique characteristics of digital assets and considering alternative regulatory approaches that promote transparency, investor education, and responsible innovation. Thank you for considering my concerns. I hope that you will give due consideration to the impact that these regulations may have on the growth and potential of the digital asset industry, and the financial aspirations of individual investors like myself. Sincerely, Anonymous