Apr. 22, 2022
I wanted to write a message against the proposed Bitcoin ETF's. I know the majority of messages from investors and those who have personal financial interests in cryptocurrency are going to be for the proposed change. Nevertheless, I feel as though cryptocurrency is damaging to society as a whole and approving ETF's for the products is only going to cause further issues down the line. So I thought I would express my thoughts from my heart (without any financial interest). There are numerous issues with cryptocurrencies the biggest to me are. 1) A high level of fraud and the use of cryptocurrency for illicit means including by many in the Russian conflict. 2) The high level of electricity that is used to produce cryptocurrency which is pointless and further contributes to climate change. 3) Unlike investing in companies that provide a benefit to society investing in crypto just fuels a bubble and helps those who got in first. Acting like a pyramid. I hope the SEC can deny the proposed change and in addition, work to further limit cryptocurrency growth. Sincerely, Steven Bell.