Change the script, argue for Freedom, Privacy, Transparent Exchanges, Privacy Coins, DEX, Alternate Currencies... https://joindcta.org/ Stop the SEC attack on crypto - email congress today using our free tool! (self.CryptoCurrency) submitted 5 hours ago by DCTAorg☑️ DCTA Official and call them on Monday... Hi r/cryptocurrency! Many of you know about the Digital Currency Traders Alliance (DCTA) - we are a nonprofit coalition of retail investors, consumers, traders, businesses, and thought leaders in the Digital Currency space focused on ensuring the future of digital currency is equitable and open to all. Our latest project is DCTA’s #StoptheSEC Action Days 2023, aimed at getting cryptocurrency consumers engaged in the national legislative process in order to reign in the SEC. Our goal is to connect consumers with their federal representatives so they can communicate how much the SEC has hurt their investments. As you all know, the SEC continues to refuse to proactively issue regulatory guidance for the sector and instead prefers to set policy through enforcement actions. This doesn’t help consumers - the SEC’s inaction harms us by not tackling bad actors when it is needed and their overreaction after the fact. Take 30 seconds out of your day and contact Congress using our free and easy tool at https://joindcta.org/advocacy/stop-the-sec/. It will directly connect you with your representatives and even includes a sample script for you to use. we (the Digital Currency Traders Alliance) are working with some of the members of the California Legislature on legislation to help reduce scam / fraudulent projects, with a specific focus on pump and dumps, account hacks, and phishing attempts. The legislators we are working with asked us to gather some examples of how you, everyday users, have been impacted or fallen victim to these kinds of scams. We are reaching out to hear your stories and experiences -.thank you in advance for your help. In response to the recent regulatory actions at the state and federal levels aimed at the digital currency sector, the Digital Currency Traders Alliance (DCTA) has launched its Legislative Advocacy Portal, which will allow consumers to track and get updates on crypto legislation at the federal and state level. The Advocacy Portal Automatically tracks who their state and federal representatives are and allows them to automatically send their representatives a letter and a link to the DCTA Legislative Crypto Consumer Handbook, which outlines best practices for protecting consumers when legislators are considering crypto currency regulations. Right now, we have a once-in-a-lifetime opportunity for retail cryptocurrency consumers to organize and speak up as our government creates the foundation for how the crypto and blockchain sector will be regulated for decades to come. It is imperative that your voice is heard and recognized in the legislative process! Go to https://joindcta.org/ today to let your lawmakers hear from you! The Digital Currency Traders Alliance is looking to expand its team! (self.CryptoCurrency) submitted 5 months ago by DCTAorg☑️ DCTA Official Hey everyone! This post is for those of you that are looking for an opportunity to get involved in the politics of this emerging sector! The Digital Currency Traders Alliance is looking for volunteers/interns (the entire team is all volunteers right now) to help with social media and communications. Some of the duties for the position are as follows: Assist staff with implementing DCTA’s 2022 Strategic Plan Assist with updating and maintaining DCTA’s social media presence, including Reddit Discord Twitter Instagram TikTok. Assist with additional administrative tasks as necessary We are looking to bring on several individuals to assist us. If you feel you can only accomplish part of the listed duties we would still ask that you apply. Skills Needed: Deep knowledge of social media platforms and insight into content that performs best on each platform. Familiarity with crypto/blockchain blogs and resources, including Twitter personalities, crypto subreddits, and Discord channels. Basic knowledge of the cryptocurrency and blockchain sectors. Firm grasp of available tools and platforms in the social media space. An effective communicator, both written and oral. Ability to communicate in a professional manner with press and community contacts. Self-motivated, good organizational skills, detail-oriented, ability to prioritize, multi-task and meet deadlines. Enthusiasm for the mission of DCTA and the consumers we serve. We are looking for applicants who are interested in working hard, but most importantly working hard for a cause that matters and in a place they can really make a difference in the crypto policies shaping our country moving forward. Applicants should support the goals of the Digital Currency Traders Alliance. This position will require 8-12 hours per week and College/University credit is available. Who We Are The Digital Currency Traders Alliance is a nonprofit coalition of retail investors, consumers, traders, businesses, and thought leaders in the Digital Currency space founded by a team of California-based lobbyists and public policy experts. Our mission at DCTA is to ensure that the future of digital currency trading is equitable and open to all by educating policymakers about the digital currency sector, promoting consumer protections, and giving a voice to everyday consumers. We want to ensure that decision-makers have the knowledge that they need to craft and adopt regulations and best practices that appropriately balance growth and innovation with robust consumer protections. For more information or to submit a resume for consideration please email: [nate@joinDCTA.org](mailto:Nate@joinDCTA.org). I know a lot of folks here are pretty anti-regulation/government. But I can’t help but think how some pretty basic regulations could have helped reduce the severity of the recent meltdown and the contagion from Terra > Celsius > other big funds/service providers. Things like mandatory disclosures to users, rules for use of held customer funds, protections for bankruptcy, or deposit insurance a la FDIC. So I did a quick writeup on some of the pros and cons of regulating crypto and look at what that future might look like and what the legislators we’ve been talking to are actually trying to regulate. To be clear: right now U.S. regulators are mainly focused on regulating centralized service providers like Celsius. Most regulators know enough to know that they have little control over what actually happens on-chain, so the current focus is on businesses that provide services off-chain that can be regulated (if they want to operate in a given jurisdiction) Downsides of regulation Increased compliance burden - service providers would have to be licensed and provide more thorough insight into operations and data. This will result in costs passed down to users, and may also prevent smaller players from being able to operate. Restricted services - similar to how Celsius restricted Earn to accredited investors (prior to their meltdown) or how Coinbase/COMP’s fixed APR products were killed last year, we would undoubtedly see restrictions on what services providers can offer in the first place. Stifling innovation - the above two points add up to big burdens for small players that would likely stop many small teams from being able to operate. Upsides of regulation Preventing Bad Actors - team filings and mandatory disclosures (risks, marketing, influencers, token issuance, etc) would make it harder for anonymous teams to manipulate markets and run rug pulls/PnDs. Tax Clarity - it’s hard to imagine worse tax law for crypto than we have now. Letting users make small transactions and taxing mining/staking/airdrops when disposed would eliminate a lot of tax headache. User protections - codifying things like bankruptcy protections, customer service/uptime requirements, user privacy/security standards, etc. The Lummis-Gillibrand RFIA had provisions for this included. Green-lighting innovation - regulatory clarity would give many businesses the confidence needed to expand and invest in U.S. operations. This could help offset the loss from other businesses that are driven away due to regulation. Widespread adoption - not everyone is technical enough to interact with DeFi and manage their wallets safely. Entities like Celsius were a great way to onboard nontechnical users, assuming they were safe and had proper user protections. Check out the full post here: https://joindcta.org/crypto-regulations-pros-cons/ Sure, there are going to be some growing pains, and there’s always the chance that regulators get this wrong and we end up stuck with some bad laws. This is why we want to make it easy for crypto users to track crypto legislation and contact their reps. Legislators absolutely will listen to us if we make enough noise together, and now is the time to make sure our rights as users are codified as the first real crypto laws are written. It's also a great time to let reps know how important this issue is going into midterms. Check out https://joindcta.org/advocacy/ if you want to learn more and make your voice heard. We want to make this a useful resource - are there any pros/cons of regulation we forgot to mention above? What are your biggest concerns as crypto starts to get regulated? Stop the SEC attack on crypto - email congress today using our free tool! by DCTAorg in CryptoCurrency [–]DCTAorg[S] 2 points 5 hours ago we've got a lot of requests over the last few days to do an international Call to Action. We're working on the plan right now! permalink save context full comments (123) report Stop the SEC attack on crypto - email congress today using our free tool! by DCTAorg in CryptoCurrency [–]DCTAorg[S] 4 points 5 hours ago It really does!! permalink save context full comments (123) report Stop the SEC attack on crypto - email congress today using our free tool! by DCTAorg in CryptoCurrency [–]DCTAorg[S] 2 points 5 hours ago Thanks!! permalink save context full comments (123) report Stop the SEC attack on crypto - email congress today using our free tool! by DCTAorg in CryptoCurrency [–]DCTAorg[S] 6 points 5 hours ago Right now it's just the states. But we've got a lot of requests over the last few days to do an international Call to Action. We're working on the plan right now and should be announcing an international version in the next couple weeks. permalink save context full comments (123) report 134 Stop the SEC attack on crypto - email congress today using our free tool! (self.CryptoCurrency) submitted 5 hours ago by DCTAorg to r/CryptoCurrency 123 comments share save hide report AOC criticizes Christian Super Bowl ads, says Jesus would not fund commercials to 'make fascism look benign' by GDPisnotsustainable in politics [–]DCTAorg 1 point 11 days ago Amen!!! As a fully grown pastor’s kid I have been screaming this for years!!! permalink save context full comments (4603) report 12 California lawmakers are looking for stories about common crypto scams (self.CryptoCurrency) submitted 25 days ago by DCTAorg to r/CryptoCurrency 23 comments share save hide report 0 The Digital Currency Traders Alliance is looking to expand its team! (self.CryptoCurrency) submitted 5 months ago by DCTAorg to r/CryptoCurrency 7 comments share save hide report The Government is regulating crypto, make sure your voice is heard! by DCTAorg in CryptoCurrency [–]DCTAorg[S] 2 points 5 months ago Thanks! permalink save context full comments (21) report The Government is regulating crypto, make sure your voice is heard! by DCTAorg in CryptoCurrency [–]DCTAorg[S] 2 points 5 months ago Our executive director did cannabis policy for over 10 years and heard the “our voice doesn't matter" line countless times. You would be shocked at how legislators react when they start regularly hearing from educated constituents on any specific issue. permalink save context full comments (21) report The Government is regulating crypto, make sure your voice is heard! by DCTAorg in CryptoCurrency [–]DCTAorg[S] 3 points 5 months ago One of the biggest frauds of our lifetime is that big money has been able to convince average voters that their voice doesn't matter. Our team have been advocates for over a decade and have successfully taken on corporate interests time and time again. permalink save context full comments (21) report The Government is regulating crypto, make sure your voice is heard! by DCTAorg in CryptoCurrency [–]DCTAorg[S] 3 points 5 months ago The portal is actually free to use! People who want to support our work are also free to do it! permalink save context full comments (21) report 7 The Government is regulating crypto, make sure your voice is heard! (self.CryptoCurrency) submitted 5 months ago by DCTAorg to r/CryptoCurrency 21 comments share save hide report New Bipartisan US Bill Puts CFTC In Charge Of Regulating Bitcoin And Ethereum by jakkkmotivator in CryptoCurrencies [–]DCTAorg 1 point 6 months ago Good, rather the CFTC than the SEC. Same as was proposed in June in the RFIA bill. It looks like the legislative consensus is that most coins that serve the purpose of directly helping a network run through PoS staking or PoW rewards will be commodities under the CFTC's jurisdiction. The problem that this bill still does not address is how to make the distinction between commodity and security for the other 99% of tokens. The RFIA proposed "commodity by default" and then any tokens that granted the following would be considered a security: Voting rights with respect to that entity. Rights to interest, dividend payments, or profits with respect to that entity. A debt or equity interest in that entity. Liquidation rights with respect to that entity. Meaning whatever bill ends up passing, the SEC will probably get jurisdiction over anything DeFi and many of the interesting things being done in the ecosystem, and future legislation will probably not rock that boat. So yeah, great to see continued support for BTC and ETH to be commodities under the CFTC, but still a lot of things for regulators to figure out about the rest of the market and use cases. permalink save context full comments (32) report US Senators propose bill to exclude crypto transactions under $50 from taxes. Another step in the right direction. by partymsl in CryptoCurrency [–]DCTAorg 1 point 6 months ago Yup. Which is one of the many reasons why we desperately need to be talking to legislators and get this changed to "taxed when disposed of, not earned." The Lummis-Gillibrand RFIA proposed back in June would do exactly this, although that bill seems unlikely to pass at this point. permalink save context full comments (589) report Sure centralized platforms and projects might be easier to navigate but this comes at the huge cost of custody. Never forget that. by [deleted] in defi [–]DCTAorg 1 point 7 months ago Generally agreed, but you have to admit that these centralized platforms do play a positive role in crypto adoption. Not everybody is capable of being their own bank, managing their own keys, or using a web3 wallet. If you want to bring these users into the ecosystem, a centralized crypto platform is a great solution. Remember all the posts last year about people who onboarded friends/family to the benefits of crypto via celsius? The problem is that there are no rules on what these platforms can do, and so they generally end up doing shady shit when they think no one is looking. What we need is sensible regulation and protections on these custodial service providers to keep them from doing shady stuff behind the scenes. Things like: requirements on how customer funds can be used bankruptcy protections so users can recover their assets (or deposit insurance) required disclosures for product risks The recently proposed RFIA bill in the senate had clauses for user protections on all the above points, although that bill is currently on hold til 2023 from the looks of it. The future of crypto isn't 100% pure decentralization all the time, it's going to be about integrating blockchain with existing tech and frameworks for a better, more transparent and equitable system. DeFi will always be there for the users that want it, and centralized service providers will be there for those who aren't ready to make that leap yet. permalink save context full comments (28) report 1 Regulation could have prevented some of this… (self.CryptoCurrency) submitted 7 months ago by DCTAorg to r/CryptoCurrency 21 comments share save hide report Celsius lawyers claim users gave up legal rights to their crypto. by Socialinfluencing in CryptoCurrency [–]DCTAorg 5 points 7 months ago Everyone saying "not your keys not your crypto" is ignoring the fact that apps like Celsius help bring crypto adoption to non-technical users by abstracting away complexity. A year ago everyone was onboarding their friends & family through Celsius, and it was generally seen as a big victory for the space. Do you all trust your parents or grandparents to manage their own private keys? Should we just gatekeep out all the non-technical folks? Instead of saying "I told you so" after a centralized platform loses user funds, why don't we instead try to proactively regulate these platforms before something bad happens? For example the RFIA bill that was proposed last month had clauses specifically for: restricting use of deposited customer funds (no yield farming w/ deposits) protecting user deposits in the event of a bankruptcy Celsius can put whatever they want in their ToS, but at the end of the day it all still has to comply with existing laws and be upheld in court. That said, laws specific to crypto are minimal and vague right now which just drives home the point that we need smart regulation and consumer protections in this space to prevent big players from abusing their end-users like this. I know many folks here are probably resistant to regulation in crypto, but now is literally the best time to get involved and make your voice heard to ensure we get proper consumer protections as crypto becomes more mainstream. permalink save context full comments (318) report US Senator Says Too Many Crypto Firms Are Able to Scam Customers — Urges SEC to Regulate by Beyonderr in CryptoCurrency [–]DCTAorg 1 point 7 months ago Regulation was coming long before Luna & Celsius melted down, they just became focal points for the conversation since a lot of people lost a lot of money in a very short timeframe. Many here are generally against regulation, but what's so bad about regulating centralized service providers from making sure they can't do shady things with user funds? Regulation is also how we get things like deposit insurance, customer service standards, and other basic user protections. The recent crypto regulatory framework that was proposed in June literally has clauses that would have prevented exactly what Celsius was doing and might have prevented this whole market-wide implosion. I guess my point is: regulations are coming to crypto, like it or not. If you're concerned regulators will get it wrong, then get involved in the political process, contact your reps about crypto, and make your voice heard. permalink save context full comments (335) report 2 Verification Request: DCTA (self.CryptoCurrencyMeta) submitted 7 months ago by DCTAorg to r/CryptoCurrencyMeta 2 comments share save hide report Yesterday European Commission agreed on a deal for stringent and invasive AML for all crypto services, including linking your onchain wallets to user's KYC details. This drastically destroys user's privacy by Set1Less in CryptoCurrency [–]DCTAorg 1 point 7 months ago I understand the gut reaction to think "this is invasive and an overreach on the EU's part, the government is going to ruin crypto," but this is a pretty positive step. Everyone here wants crypto to go mainstream and help build a better, more equitable financial system - but you don't get there without the blessing of the world's major governments. This ruling gives crypto more formal legitimacy in the EU. P2P transactions and anything purely onchain would be unaffected, so you can always go that route if you're concerned. Much of this info is already easy enough to figure out with chain analysis if you've ever done any KYC with any centralized exchange, this just formalizes the process by making you confirm what they already know. If this sort of news worries you take a step back, look at the bigger picture, and realize that this is actually a big step forward for crypto adoption. permalink save context full comments (851) report [deleted by user] by [deleted] in CryptoCurrency [–]DCTAorg 1 point 8 months ago Do you trust your grandparents to manage their funds on a hardware wallet? What about the friend that regularly has their social media accounts compromised by clicking on phishing links? Not your keys, not your coins is simply not a viable long-term solution for the average user. Hardware wallets are great for the OGs in this space, but if you want wider adoption and crypto to actually be used globally, it needs to have a better user experience for casual users and late adopters. permalink save context full comments (228) report [deleted by user] by [deleted] in CryptoCurrency [–]DCTAorg 1 point 8 months ago You aren't wrong, but how do you realistically expect a newbie to this space to vet every single claim that is thrown at them? The sheer volume of misinformation is astounding, and it takes many users in this space months or years to even have a basic and partial understanding. The whole point of regulation is to pass part of this burden from the end-user up to the regulators and service providers directly, making it easier for users to safely adopt. Of course, no government can really regulate DeFi and DAPPs, so those products will always be available to the technically savvy like you & me. But how many people were using Celsius or other CeFi platforms to casually onboard friends and family to crypto? These centralized platforms can and should be regulated, especially if we ever want crypto to see more widespread use than it currently does. Regardless, regulation is coming, so best be a part of that conversation when it does. permalink save context full comments (228) report [deleted by user] by [deleted] in CryptoCurrency [–]DCTAorg 1 point 8 months ago Many in this space don't want to admit it, but cases like this are why regulation exists, and it isn't the boogeyman many think it is. If we all want crypto to become mainstream and act as the backbone of a new financial system, there must be regulations in place to prevent bad actors and protect the less technical users out there. For example, the recent draft of the Responsible Financial Innovation Act had multiple clauses that would have expressly prohibited what Celsius was doing with user funds, and protections in place for users if/when they go bankrupt. That bill is far from perfect, but the consumer protections are a step in the right direction and the sort of language that we need to reiterate with lawmakers as they begin to draft crypto legislation over the next 1-2 years. Make no mistake, regulation is coming to this space, and it's coming fast. All you can do as an end-user is make your voice heard to ensure that politicians don't mess it up when it does happen. permalink save context full comments (228) report I’m having a hard time making sense of DeFi by imnessal in defi [–]DCTAorg 1 point 8 months ago Speaking to point #2 on regulation: as a grassroots crypto advocacy group, what we've seen in a lot of early discussions with legislators and draft bills is that it's hard for regulators not to accidentally target DeFi as they try to write laws that target CeFi. Almost none of them are trying to target DeFi right now; to /u/Terrorbear's point, most regulators don't care as long as nothing blatantly illegal is going on. But in writing laws that affect money transmission and KYC/AML, it's hard not accidentally target DeFi operators. Right now most politicians are playing catch up from 5 years ago as they struggle to understand the basics of cryptocurrencies and digital assets, and figure out how the hell to classify all this stuff legally. They generally aren't looking at the nuances of DeFi yet, but that will likely come over the next 2-3 years once they've figured out the basics of the industry. Shameless plug: if you're concerned that regulators will get this wrong, check out our website joindcta.org. We're organizing a coalition of crypto users to speak up and make sure our voices are heard as crypto legislation is being drafted around the U.S. permalink save context full comments (39) report view more: next › Another crypto day for the government by ResponsibleResort195 in CryptoMarkets [–]DCTAorg 1 point 8 months ago Literally none of the legislators we've spoken to want to ban crypto (here in the US), they all want to understand and figure out how to stop their constituents from getting scammed and then bring revenue into their jurisdiction. They also largely understand that trying to stop everything that happens on blockchain is impossible, and will just be an endless game of regulatory whack-a-mole that accomplishes nothing. Most legislators are concerned with how private crypto businesses operate within their jurisdiction - the Coinbases and Crypto.coms of the world - and making sure they're compliant and not screwing their customers. At the end of the day regulation is coming to this space, and it really isn't that scary. No one is going to ban anything in the US (again, they really can't and they know it) and most legislators want to stop the obvious BS scams and pump n dumps more than anything else, same as we all want. If you're really concerned about big govt messing this up, then consider getting involved in crypto grassroots advocacy and make sure your voice is heard as the inevitable regs come our way. permalink save context full comments (78) report Ethereum's cofounder Vitalik Buterin says we'll soon use 'soulbound tokens' to verify things like school and employment — all stored in a 'souls' wallet by AptitudeSky in CryptoCurrency [–]DCTAorg 1 point 9 months ago This proposal is both incredibly exciting and incredibly scary at the same time. The futurologist in me is excited by the possibilities here, but the realist in me is worried about the eventual hacks and information leaks from bringing personal information directly onto the blockchain. Things like the Ledger hack a few years back have shown how tying your crypto ID to your real-world ID is usually never a good idea. Imagine if a government was issuing NFT IDs like this and a leak of that magnitude occurred? That said, any new technology will face these problems. SBTs will have lots of growing pains, but the hope is that in 10+ years it will be mature enough (and secure enough) for widespread adoption. Things like ZK proofs will help tremendously in the implementation, but that tech is also in its infancy and years away from practical use in this area. I also have a hard time imagining this could ever be mandatory; moving real-world docs or ID to blockchain would likely have to be opt-in for users that want it and can actually handle it. At the end of the day, this is an early draft of an interesting idea and the sort of thing that does continually push the space forward. It's also the sort of thing that will need to be watched carefully to make sure it cannot be abused and that user privacy is never compromised. permalink save context full comments (1118) report At 4PM EST the Digital Currency Traders Alliance will be hosting an AMA to talk about what we are doing to prevent government overreach and ensure consumer privacy as the government begins to regulate crypto. by jwinterm in CryptoCurrency [–]DCTAorg 1 point 10 months ago Thank you to everyone who attended and for the great discussion on how we can impact the future of crypto regulation. As mentioned, we're just getting started and will have a lot of educational resources and advocacy campaigns coming in the next couple of weeks. To track crypto legislation in your state or contact your representatives go to https://joindcta.org/advocacy/. You can also support us with crypto donations at https://joindcta.org/support/ or sign up for a membership at https://joindcta.org/membership/. If you just want updates on what we're doing you can follow us on twitter or sign up for email updates here. We have an unprecedented opportunity to help write the laws that will govern our future financial system - now is the time to get involved and make your voice heard. permalink save context full comments (21) report 1 Verification Request: [Entity Name] (self.CryptoCurrencyMeta) submitted 11 months ago by DCTAorg to r/CryptoCurrencyMeta 1 comment share save hide report