• An advocacy consumer group has formed to oppose the SEC’s regulation of the crypto space.
• The Digital Currency Trader’s Alliance (DCTA) is running a campaign called „Stop the SEC“ and calling for retail investors to speak with their state politicians about joining the battle.
• Coinbase is launching its own program called Crypto 435, which aims to ensure pro-crypto policies exist in all US congressional districts.
Digital Currency Trader’s Alliance Forms to Stop SEC from Hurting Crypto
An advocacy consumer group has recently been formed with the intention of going after the Securities and Exchange Commission (SEC) and stopping them from getting in the way of crypto innovation. The Digital Currency Trader’s Alliance (DCTA) is running a campaign called „Stop the SEC“ and calling for retail investors to voice their concerns with their state politicians about joining this fight against unnecessary regulations.
SEC Is Now Facing Some Opposition
The SEC has had an increasingly influential role in policing digital currency platforms like Kraken, forcing them to pay hefty fines and cease all ETH staking services. House Majority Whip Tom Emmer spoke out against Gary Gensler – current head of the SEC – stating that he needs to be put in his place and given a lesson in humility and not overstating his boundaries.
Coinbase Launches Crypto 435 Program
In order to help create more pro-crypto policies, Coinbase – America’s largest digital trading platform – is launching its own program called Crypto 435. This initiative looks to ensure that all U.S.’s 435 congressional districts have access to these beneficial regulations by bringing crypto firms into safe, strong markets instead of relegating them offshore where investors are vulnerable without sufficient regulatory safeguards.
DCTA Advisory Board Member Speaks Out
John Deaton, an advisory board member for DCTA, stated that it is important for everyone involved that they establish best practices when it comes to crypto laws so as not only protect consumers but also make sure creators have enough freedom within this field without being hindered by excessive government interference.
It looks like both DCTA and Coinbase are taking very active steps towards protecting cryptocurrency from any sort of unnecessary hindrance from governmental agencies like SEC or other regulatory bodies around the world, ensuring that both users and developers alike can enjoy a safe space free from oppressive rules or bans on certain activities or operations within digital currencies