• An advocacy consumer group called the Digital Currency Trader’s Alliance (DCTA) has formed to fight against the SEC and its regulation of crypto.
• Coinbase is launching its own program called Crypto 435, which will ensure pro-crypto policies in U.S congressional districts.
• House Majority Whip Tom Emmer has urged SEC chair Gary Gensler to refrain from overstating his authority in the crypto space.
Formation of DCTA
An advocacy consumer group named Digital Currency Trader’s Alliance (DCTA) has been established to resist against the Securities and Exchange Commission (SEC) in order to protect crypto innovation. The DCTA is now running ads online and requesting retail investors to approach their state politicians for support with this cause, which has been titled „Stop the SEC.“
Coinbase Launches Crypto 435 Program
Coinbase, one of America’s largest digital currency exchanges, was forced by the SEC to pay a $30 million fee and discontinue all ETH staking services. In response, Coinbase has started a new campaign dubbed Crypto 435 that aims to ensure pro-crypto policies exist in all US congressional districts.
Tom Emmer Urges Gensler To Refrain From Overstepping Authority
House Majority Whip Tom Emmer expressed that current head of the SEC Gary Gensler needs to be taught some humility and respect for boundaries when it comes to regulating crypto spaces. He stated that instead of sending crypto firms offshore where investors are vulnerable to insufficient regulatory safeguards, they should be welcomed into secure markets in US states.
DCTA Aiming To Create Right Regulations
John Deaton from DTCA advisory board believes that their mission is to ensure appropriate regulations are made so that everyday consumers can have access to quality investment opportunities while still protecting them from any potential financial harm. He also emphasized on giving these people more control over their investments by providing them with better awareness about different kinds of cryptocurrencies and understanding how they work before investing their hard earned money into them.
Conclusion
The formation of DCTA and Coinbase’s Crypto 435 program highlights how both organizations are working towards protecting investor rights when it comes to investing in cryptocurrencies. House majority whip Tom Emmer also voiced his opinion on curbing Gary Gensler’s power as head of the SEC, urging him not abuse his authority when it comes cryptocurrency trading platforms such as Kraken or other platforms offering digital currencies services or products within United States’ jurisdiction.
