U.S. financial markets have long suffered from a complex network of outdated rules. The government’s inability to develop a clear regulatory framework for digital assets has hindered innovation, allowing other nations to pull ahead of the U.S.

Now, with the leadership of President Trump, there is potential for a significant shift in this landscape. His agenda for deregulation offers a unique opportunity to innovate and refine our financial regulatory systems to better accommodate digital asset ecosystems.

Reflecting on the wisdom of former SEC Chairman Harvey Pitt, the proposal is to establish solid guiding principles akin to a set of commandments to redefine the governance of our markets. These principles emphasize transparency, fairness, and the responsibilities of market participants while ensuring the protection of investors.

Proposed Ten Commandments for Ethical Market Practices:

1. Thou shalt disclose material information. Ensure full disclosure of critical financial information to instill confidence within the market.
2. Thou shalt not deceive or manipulate. Prevent fraudulent practices to maintain market integrity.
3. Thou shalt not trade on material nonpublic information. Promote equality in market participation.
4. Thou shalt tell the truth about your financial health. Uphold accuracy in financial reporting.
5. Thou shalt treat all investors equally. Provide equal access to information and opportunities.
6. Thou shalt reveal the risks involved. Inform investors about potential risks associated with investments.
7. Thou shalt act in accordance with your duties to others. Ensure fiduciary responsibilities are met by market participants.
8. Thou shalt strive to avoid conflicts of interest. Disclose unavoidable conflicts to foster transparency.
9. Thou shalt ensure fair and transparent markets. Markets should reflect true supply and demand.
10. Thou shalt promote efficient and orderly markets. Foster a smooth operating environment for markets.

By advocating these principles, we can establish flexibility in regulatory frameworks that meet the pace of technological advancement, ensuring fairness and efficiency in our financial ecosystems.