Stanislav Sinitsyn Comment On Regulatory Notice 22-08
Stanislav Sinitsyn
N/A
Cryptocurrencies do not need regulation, as they are already transparently self regulated by the code that powers each blockchain. This code is publicly visible and transparent for all. They are also secure through cryptography, stronger than that which masks transactions and account information at traditional banks and brokerages. Furthermore, Bitcoin is the single best performing asset of the last decade. Putting in place additional barriers to prevent your average American from purchasing cryptocurrency either directly or indirectly (via a fund) will only contribute to wealth inequality. It will leave the majority of Americans without the ability to purchase the one asset class that is most likely to change their lives and increases their wealth, and contribute most to social mobility. The fact of the matter is that cryptocurrency is the future of commerce. As with any new system or investment, the early adopters gain the largest returns. Any regulatory barriers will mean that only wealthy accredited investors will be allowed to participate early and leave the average American with lower returns. This is not the purpose of this body.
Stanislav Sinitsyn Comment On Regulatory Notice 22-08
Cryptocurrencies do not need regulation, as they are already transparently self regulated by the code that powers each blockchain. This code is publicly visible and transparent for all. They are also secure through cryptography, stronger than that which masks transactions and account information at traditional banks and brokerages. Furthermore, Bitcoin is the single best performing asset of the last decade. Putting in place additional barriers to prevent your average American from purchasing cryptocurrency either directly or indirectly (via a fund) will only contribute to wealth inequality. It will leave the majority of Americans without the ability to purchase the one asset class that is most likely to change their lives and increases their wealth, and contribute most to social mobility. The fact of the matter is that cryptocurrency is the future of commerce. As with any new system or investment, the early adopters gain the largest returns. Any regulatory barriers will mean that only wealthy accredited investors will be allowed to participate early and leave the average American with lower returns. This is not the purpose of this body.