Stop the SEC! Advocacy Group Forms to Fight Crypto Regulation
• An advocacy consumer group, the Digital Currency Trader’s Alliance (DCTA) has been formed to oppose the Securities and Exchange Commission (SEC) from hindering crypto innovation.
• The DCTA is campaigning for retail investors to speak up to their state politicians about joining in their cause.
• Coinbase is also launching its own initiative called Crypto 435 to ensure pro-crypto policies are present in all US congressional districts.
Opposing the SEC’s Influence on Crypto
An advocacy consumer group has formed that’s designed to go after the Securities and Exchange Commission (SEC) and stop it from getting in the way of crypto innovation. The Digital Currency Trader’s Alliance (DCTA) is now featuring commercials for the group online and is calling for retail investors to speak with their state politicians about joining the battle.
The SEC Is Now Facing Some Opposition
The SEC seems to be under the impression that it has the right and the authority to police the entire crypto space. In recent weeks, it has gone after many of world’s leading digital currency platforms, a big one being Kraken. As one of USA’s largest and most popular digital currency exchanges, Kraken was forced to pay a $30 million fee to the SEC and cease all its ETH staking services. The campaign initiated by DCTA is called „Stop the SEC“. It looks like this isn’t only enterprise seeking make a mark on crypto world as Coinbase – USA’s largest digital trading platform – is launching its own program called Crypto 435; aiming at ensuring pro-crypto policies exist in all 435 congressional districts within United States.
Coinbase & Gary Gensler
Coinbase had some run-ins with authorities itself given that recently it had hand giant penalty fee over regulators in New York; House Majority Whip Tom Emmer stated that Gary Gensler needs be put his place by having lesson humility & not overstating his boundaries saying “Chair Gensler has subjected crypto community regulatory purgatory with little no way offer registered, compliant products services United States”. He then further added “We need bring crypto firms into United States‘ safe strong markets, not relegate them offshore leaving investors vulnerable insufficient regulatory safeguards”.
DCTA Advisory Board Member John Deaton
John Deaton – advisory board member at DCTA said that team accomplishes goal allowing trades understand how current regulations halting progress across industry & how free markets provide opportunity everyone benefit significantly from new innovations within space; Kevin Trommer – deputy director at DCTA added “We created campaign connect everyday consumers congressional representatives so they can tell firsthand how SEC’s regulation enforcement approach crypto hurting investments”.
All these initiatives taken by Coinbase & DTCA will help make sure right rules are made concerning cryptocurrency space allowing traders understand better benefit from new innovations without any fear of regulations halting progress across industry