Sep. 20, 2020
CAUTION: This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe. In a world where the digitization of many industries is accelerating. In a world where a new computing platforms are being built in the West and China. In is important for every market to be allowed to evolve even if that means that the status quo, those companies that have benefited from the past, and the regulatory environment that protects their franchise must change. Examination of the comments from existing market participants, with regard to the BSTX approval, along with some simple research, reveals a classic example of the status quo trying to delay the introduction of innovation while at the same time working to the same innovative process. The delay tactics are obvious to many. There is a reason why China is in the lead in so many of the leading edge technologies that will shape our future. The protection of the status quo will do long term negative damage to the positioning of the USA as an economy where innovation and entrepreneurship is encouraged . The inability of the SEC to foster and enhance the research of DLT is another example of what economists call “regulatory capture” . It’s obvious that the delay tactics of the NASDAQ and others work. As a consumer, and a concerned citizen, I would hope that the SEC will finally approve of the BSTX rule book. Unfortunately, my gut tells me your delays and desire to protect the status quo will allow China to again lead in another leading edge technology. To be clear, history will show that the SEC, play a significant detrimental role in not allowing DLT to be integrated in the US economy, protecting the status quo, and there market share. James E Thorne