Sep. 28, 2023
Please read my formal comment regarding the SEC's proposed rule: "Safeguarding Advisory Client Assets; Reopening of Comment Period" as I am unable to comment using the Federal Register website (which is a violation of the APA. My comment begins below: Freedom of expression is a fundamental right that should not be unduly restricted, even for new technologies like cryptocurrencies that carry risks. While the SEC aims to protect investors from fraud, overreaching regulations on speech could set dangerous precedents that stifle free discourse. Cryptocurrencies represent a disruptive innovation that enables financial autonomy outside traditional systems. Promoting this technology, even if risky for some, should be a personal choice. The SEC should be wary of suppressing speech that may facilitate decentralized progress. Some potential risks from misinformation or market manipulation may be an acceptable trade-off to advance human liberties. Investors themselves also have a duty to research thoroughly and avoid undue risk. Punishing speech could slow human advancement. Reasonable guardrails against clear misconduct are prudent. However, heavy-handed regulations that infringe on freedoms and discourage innovation in emerging technologies may do more harm than good in the long run. Caution and restraint are advised for regulations impacting expression. In summary, while risks exist, limiting personal freedoms like speech to mitigate potential harms can set dangerous precedents. Wisdom involves balancing protections against overreach stifling human progress and autonomy. I hope you will make decisions that are best for the American people and freedom of speech. Blockchain technology is simply publishing speech in the public domain. Undue enforcement actions taken against such technologies is akin to suppressing one's use of the printing press. Blockchains are merely used to publish data to a global, public record, and the SEC must not overextend its authority on this critical issue. Sincerely, A Concerned Citizen