Comment Text:
As an independent investor, I am urging the Commission to support direct access to trading on margin without required intermediation.
The proposed model of non-intermediated margin trading provides the required and adequate protections while decreasing costs associated with utilizing a select few intermediaries. The CFTC should approve the proposal in order to eliminate barriers to investments and increase competitive choice in markets on cryptocurrency platforms.
The proposal would also make crypto trading in the United States much safer by allowing the real-time transparent flow of data and the monitoring of transactions for suspicious behavior. This smart reform would take out an additional layer of complexity in transactions, reducing the interconnection risk between organizations and overall systemic financial risk in the United States associated with utilizing a select few FCMs.
Cryptocurrency platforms, such as FTX, offer 24/7 monitoring of all transactions to identify suspicious behavior and provide transparent real-time data on all markets. Mitigating market risks would put America and its investors at the forefront of global digital asset markets.
The combination of important technological innovations brought by crypto-trading platforms and a sound Federal policy framework will increase the global competitiveness of the United States in international markets.
Please stand up for American investors and take action to promote market access, reduce barriers, and increase competition and choice, for end users to transact on global markets.
