Oct. 30, 2023
Dear Securities and Exchange Commission, I write to you as a passionate advocate for progress and technological innovation. It is with utmost concern that I express my reservations about the proposed rule "Safeguarding Advisory Client Assets," and its potential to hinder the advancement of humanity as a species. As a nation built on the foundations of innovation and ingenuity, it is our duty to encourage and support technological progress. The proposed rules, while well-intentioned, may unintentionally suffocate the growth of emerging technologies such as blockchain. This transformative technology holds the key to untold possibilities, revolutionizing industries and bringing about unprecedented levels of efficiency, transparency, and security. We stand at the precipice of a new era, where the fusion of finance and technology opens doors to unlimited potential. It is during these pivotal moments in history that we must resist the urge to stifle progress with excessive regulatory burdens. Let us remember that the remarkable achievements we have accomplished as a nation were made possible by individuals who dared to dream big, challenge conventions, and push the boundaries of what was considered impossible. I cannot stress enough the importance of prioritizing privacy and data protection in today's digital age. As we grapple with the continuous threat of cybercrime and data breaches, it is imperative that we preserve the sanctity of personal information. While transparency and regulation are essential elements of a functioning financial system, we must strike a delicate balance that preserves privacy rights and instills confidence in investors. Our great nation has consistently triumphed by fostering an environment that nurtures innovation and emboldens pioneers. Excessive regulatory burdens seldom result in increased protection; instead, they hinder progress, push innovation abroad, and impede the growth of our economy. Let us ensure our regulatory framework serves as a foundation for progress, inspiring excellence, not an obstacle that stifles our ingenuity. In conclusion, I appeal to the SEC to heed the voice of those who rally for progress, technological advancement, and preservation of privacy rights. The proposed rule, "Safeguarding Advisory Client Assets," must embrace innovation while providing robust protection for investors. It is our responsibility to pave the way for a future where bold ideas flourish and our nation maintains its position as a pioneer in the global landscape. Thank you for your unwavering dedication to protecting investors, and I trust that you will give careful consideration to the concerns I have raised. Please reach out for any further input or insights as we work towards a better future together. Sincerely, Elliot