May. 3, 2023
Dear Regulators, I am a household, international investor. I am held to account for any and all actions and activity I partake in the markets. Dealers, Government Securities Dealers and Exchanges (especially including centralised crypto exchanges) must be held to the same standard. To this end, I heavily support this proposed rule. For too long, moneyed interests have used loopholes in regulations and laws, or creates new loopholes directly, to circumvent fair and balanced market and accounting principles. They've defrauded the systems built on the backs of our forefathers, the systems designed to provide us all with equality of opportunity. To that end, I believe the time has come to bring an end to SROs. SELF-Regulated Organisations are, by default and design, inherently corrupt. They are, by default, a conflict of interest at the highest and lowest of levels. There is not a SINGLE excuse for an SRO to exist. The SEC, Treasury, Comptroller of the currency, and other government agencies can handle absolutely every single responsibility SROs currently "manage". Not only that, it is my belief that the SEC and government entities would do it better, cheaper, and more transparently. It is thus also time to dismantle the CFTC. By Chairman Gensler's own speech, given recently, swaps and complex derivatives are a thorn in the side of financial market stability, transparency and integrity. The CFTC has delayed reporting swaps for 15 years and counting. The CFTC is working at absolute odds with the government and the SEC and their rules. Thank you for your time, and all your hard work. As a humble worker within the system, it's reassuring to see someone at the helm trying to steer the ship back on course.