July 23, 2018
Dear SEC,
The regulation of the cryptocurrency market is much needed to incentivize the financial and institutional sector to invest. Other countries have established, or is in the process of establishing, bitcoin ETF's already. Since this revolutionizing sector is rapidly growing, it would be detrimental for the U.S fall behind. I think that the insurance included in the proposal solves the problem with the relatively high volatility associated with cryptocurrencies today. With that said, I see no sensible reason not to go forward with the approval.
Thank you,
Joel Malmgren