Oct. 25, 2023
Dear SEC, It seems like Cryptocurrency is one of your priorities to regulate in the best way possible. Perhaps a few notes to consider: -A DeFi platform is where bits of data are being transferred, the parties involved are solely responsible for their self-custody i.e have their own Digital Wallet. -On a De-Fi platform you can ´t open an account VS a Traditional Exchange platform, Users solely connect their Wallet for conducting transactions whether in numbers or letters. -A De-Fi platform, which is nothing more than a Publishing Software, only provides the liquidity for each participant. The liquidity provided comes from participants who connect to this platform the same way 'the participant' does & in return receive rewards. The platform generates 'income' through cost of transaction. -A Ce-Fi platform that offers Cryptocurrency & manages their clients' accounts is in my view not Crypto Related & should be treated as a regulated traditional exchange with strict oversight Privacy vs Transparency in De-Fi -A Hardware Wallet is the primary tool to maintain each individuals privacy & self custody rights -In De-Fi, ALL historic transactions are public at all times -In De-Fi, ALL Digital Wallets with their respective assets are public at all times Sincerely, Rijder