Cryptocurrency funds such as BITO are important in diversifying our investments. I personally am fully aware of the risks involved with cryptocurrency investment and limit them just as I do any other investment. A balanced portfolio is a safe haven which can be skewed if others make choices in it for us. It is a fallacy to think that investors cannot research and understand an investment that has been deemed 'complex'. It is also the height of hubris and the extreme of government overreach to decide that we are incompetent to do so. It is contrary to our freedom of choice, it is dystopian in nature, it has the stink of an authoritarian government who decides to limit and control it's populace. (We will decide for people if they can invest. We will decide for people if they can move their own money. WE will decide whether they are a member of an elite wealthy club before they may proceed.) These proposed regulations are ill considered and you need to rethink how you are helping people with them. As well, by their very nature, these regulations will have broad political implications. Please focus on what will really help people. A government body judging whether or not if someone is worthy in your eyes to invest, does not.
Steven Pauli Comment On Regulatory Notice 22-08
Cryptocurrency funds such as BITO are important in diversifying our investments. I personally am fully aware of the risks involved with cryptocurrency investment and limit them just as I do any other investment. A balanced portfolio is a safe haven which can be skewed if others make choices in it for us. It is a fallacy to think that investors cannot research and understand an investment that has been deemed 'complex'. It is also the height of hubris and the extreme of government overreach to decide that we are incompetent to do so. It is contrary to our freedom of choice, it is dystopian in nature, it has the stink of an authoritarian government who decides to limit and control it's populace. (We will decide for people if they can invest. We will decide for people if they can move their own money. WE will decide whether they are a member of an elite wealthy club before they may proceed.) These proposed regulations are ill considered and you need to rethink how you are helping people with them. As well, by their very nature, these regulations will have broad political implications. Please focus on what will really help people. A government body judging whether or not if someone is worthy in your eyes to invest, does not.