Aug. 16, 2022
August 16, 2022 I am a US citizen and retail investor. Having reviewed industrys comments to this proposed rule thus far its clear to me that they would like to avoid reporting whenever they can. I believe that more stringent reporting would allow them to continue to profit at the expense of Us citizens and companies because it would allow industry to obfuscate the nature of certain of their actions. Industry actors, including the very ones commenting on this rule, have been fined by SEC for their improper reporting and other activity numerous times in the past. I strongly suspect industry abuses are continuing and will continue despite the fines levied for said abuses. If this rule requiring more stringent reporting by industry, along with others placing effective guardrails on industry behavior, is not passed or is allowed to be watered down, then I and many other investors like me, both domestic and overseas, will find our confidence in US markets degraded to the point that we will lose faith and seek out other venues for our investments. Blockchain technology, for instance, is developing rapidly and has the potential to achieve well-regulated markets through smart contracts which are entirely outside the purview of SEC by being cryptographically secure and distributed that it wont matter what SEC or any other regulator has to say. Dont miss the chance to stay relevant in the face of a potential technological sea change.