Subject: File No. S7-08-20
From: Sean McCray

July 15, 2020

Such a change in regulation is the opposite of what the SEC is supposed to stand for. Who knows what the true nature of this change of legislation is for but it will only hurt those with less assets than some most likely pushing for this to pass. Please have the SEC accomplish something other than punishing small time fraud. Instead promote fair trade with transparency and standing up to big money.