Feb. 14, 2022
It’s time the SEC stop playing games. We can all agree with you that crypto exchanges operating in the United States need to be more fully regulated to protect investors from manipulation (order spoofing, front running…) but as the SEC is the single best authority to actually bring about these protections, you cannot on the one hand repeatedly deny spot Bitcoin ETF applicants and on the other hand drag your feet to implement these same required regulations. Unless of course your intention is actually to slow things down. The exchanges themselves have approached your team and members of congress asking (if not begging) for regulatory clarity but instead of actually doing anything, you repeat the same empty response providing zero guidance. At this point I am 100% convinced that it is your intent to simply play this ‘Catch-22’ game for as long as possible, presumably to protect the existing finance players from a very real threat to their outdated business models. I’d like to believe the SEC intent is truly to protect investors but based on this specific issue I have sadly lost most faith that is the case. Do me a favor and prove me wrong. Douglas Slemmer