In the letter, published late last night, bitcoin core developer Bryan Bishop, former Morgan Stanley managing director Caitlin Long, e-commerce coding pioneer Christopher Allen, founder of Ernst & Young’s blockchain team Angus Champion de Crespigny and fund manager attorney Gavin Fearey warned the SEC against certain types of enterprise adoption.

Long considered a boon to the cryptocurrency space, the letter argues that enterprise adoption could actually corrupt some of bitcoin’s inherent benefits if not properly overseen. Specifically, the letter warns against practices employed by the Intercontinental Exchange (ICE), which owns the New York Stock Exchange and recently announced its intention to launch a cryptocurrency exchange of its own.

Among a number of recommendations made in the letter, Bryan Bishop, who has been contributing to bitcoin’s core code since 2014, argues that the biggest change the SEC needs to implement is to partner directly with cryptocurrency engineers to develop a new kind of regulation.

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Specifically, the letter, dated September 19, 2018, argues that restrictions should be put in place on how Bakkt, ICE’s planned cryptocurrency exchange, might handle cryptocurrency when it launches.

In a section headed “We caution against applying rules to digital assets in ways which do not reflect their strengths,” the authors of the letter warn that the traditional financial practice of storing customer funds in a single account would undermine some of the core strengths of cryptocurrency.