The comment period was too short. How is S7-04-23 affected by your chairman Gary Gensler perjuring himself in front of congress? Here is proof he KNEW cryptocurrencies by and large were not securities. From his own mouth! Then he goes in front of congress and says there's a "regulatory gap" regarding exchanges. Then he goes back in front of congress and says the opposite, that in fact, everyone just needs to come in and register. It's regulatory estoppel and disgusting. The honorable SEC deserves better. The courts will find this rule arbitrary and capricious as they have several other recent cases where the SEC was involved. "So we already know in the US and in many other jurisdictions that 3/4 of the market are not ICOs or NOT what would be called securities, even in the US, Canada, and Taiwan, the three jurisdictions that follow something similar to the Howey Test that we've talked about. 3/4 of the market is non-securities. It's just a commodity, a cash crypto." https://youtu.be/KHBi3n0hUSU?t=1592