Comment Text:
As an independent investor, I am urging the Commission to support direct access to trading on margin without required intermediation. It makes it alot easier for one, the little guy.(small,independent, family owned and operated businesses)Also, for any beginners who aren't quite sure all the derivatives rules and details. Almost in a sense takes the "guess work " on how to effectively read and manage your assets. In my opinion and experience it makes it easier to trade access withdrawal and see exactly what you're working with. In hopes to observe and make strategic decisions based upon your personal experiences and personal necessities every person or businesses have. Whatever that may look like to them
The CFTC should approve the proposal to allow cryptocurrency platforms to eliminate barriers to investments and increase competitive choice in markets.
The proposal would also make crypto trading in the United States much more safe, allowing the real-time transparent flow of data and the monitoring of transactions for suspicious behavior. The CFTC has an opportunity to minimize market risk by enabling platforms, such as FTX, to provide direct access to trading on margin without required intermediation. 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.
Mitigating market risks would put America and its investors at the forefront of global digital asset markets. The public would be better served by the CFTC if the barrier to entry to transact competitively on global markets is an internet connection, rather than high fees or relationships based on commissions. In addition, 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. This 24/7 monitoring security for all investors.
Crypto-trading platforms have brought important technological innovations to trading, and a sound Federal policy framework should help encourage these innovations. Around $15 billion in assets are traded daily on the FTX platform, and FTX now carries out approximately 10% of the total global volume for crypto. These reforms would also increase the global competitiveness of the United States in international markets.
Please stand up for American investors and take action to promote market access and reduce barriers for users to transact competitively on global markets.
