SIFMA wrote to SEC's crypto team,  
opposing Coinbase and Kraken's bid  
for tokenized stock exemptions.  
They called the requests "deeply concerning"  
and urged SEC to gather public input,  
not rush approvals behind closed doors.  
Major policies shouldn't skip proper process  
via "no-action" letters or exemptions.  
SIFMA also doubts SEC's ability  
to oversee unregistered firms  
or protect investors properly.

SIFMA's push for transparency is awesome, they're totally right to demand proper public input before rushing crypto decisions