Feb. 26, 2022
Dear SEC, I’m writing against the conversion of Grayscale Bitcoin Trust (Symbol: GBTC), currently the world’s largest Bitcoin fund, to the first Spot Bitcoin ETF in the United States. The primary reason for not supporting any cryptocurrency and the desire by many for its adoption is that digital currency is and will become an exploitable financial playground for criminals and scammers. Just the very nature of the blockchain concept, non-traceability, anonymity and non-regulatory oversight, cryptocurrency is the ideal tool for money laundering money of criminal activity, scammers, and corrupt government officials. I personally have experienced a crypto scam and now know first hand how the system can be used effectively to perpetuate fraud and dishonesty. I again implore the SEC to fully deny all requests that would make cryptocurrency mainstream to the unsuspecting public/investors and certainly without stringent regulatory and accountability measure in place. Sincerely a Concerned Citizen, David Yang