The Digital Currency Traders Alliance (DCTA) is committed to promoting cryptocurrency while ensuring the protection and rights of consumers. As part of our core objectives, we aim to educate, advocate, and engage in active dialogues across various platforms while serving as a voice for consumers in the political process. The following is an activity report detailing our recent accomplishments and initiatives.
1. Affiliate Program Expansion
We are proud to announce the launch of affiliate programs in over ten states. These programs will enhance our reach and provide local communities with the resources and information needed to make informed decisions about digital currencies. We currently have boots on the ground or are in the initial setup phase in CA, SC, LA, NV, MT, AZ, WA, MO, NY, NJ, and TX. We are also in talks with consumers to establish affiliates in FL, CO, MA, ID, MI, and AR.
In California, Montana, Arizona, and Nevada, we are currently working with state legislators to hold informational hearings aimed at educating staff on best practices within the crypto sector. We hope to hold our first in early 2024.
2. Legislative Efforts
As a testament to our commitment to creating a regulatory environment conducive to cryptocurrency innovation while safeguarding consumers, we have introduced legislation at the California state capitol: SB 711. SB 711 aims to kickstart the process of creating a Blockchain Curriculum for Associate Degrees at Community Colleges in the state. The legislation has received broad bipartisan and unanimous support through every step of the process.
Unfortunately, the bill was held on the Assembly Appropriations suspense file – just one step away from the Governor’s desk – despite this support due to lack of funding. Despite this setback, we will continue to pursue the creation of a robust Blockchain curriculum in the state of California.
We have also weighed in on AB 39, which seeks to establish a licensing structure aimed at the largest actors in the crypto sector (i.e., exchanges and other large platforms). In particular, we worked with the author’s office to ensure that small actors, individuals, and specific use-cases (e.g., NFTs) are exempt from the bill’s provisions.
3. Education and Advocacy
Recognizing the importance of equipping our community with the tools necessary to make a difference, we’ve conducted several “How to Be an Effective Advocate” courses. These have been instrumental in helping our members understand the nuances of the legislative process and how to champion their beliefs.
We are currently in the process of creating a YouTube channel that will take deep dives into specific legislation and provide general legislative overviews by state, Legislator interviews, and modules of our Legislative Advocacy Course.
4. Consumer Engagement
We have successfully launched multiple campaigns to engage consumers in the political process. These initiatives were held at both the national and state levels, ensuring that the voice of the cryptocurrency community is heard in crucial decision-making processes.
Of particular note, we launched a #stoptheSEC campaign focused on asking Congress to hold an oversight hearing of the SEC to drive home the need for clear regulatory guidelines to help protect consumers.
We also launched an effort aimed at the DOJ to give a voice to FTX Creditors who felt that their voice was being ignored throughout the FTX Bankruptcy process and created a ScaryGary NFT series as a membership development drive.
5. Coalition Expansion
Our strength lies in unity. Over the past period, we have expanded our coalition, partnering with like-minded organizations and individuals who share our vision for a prosperous and secure digital currency landscape. Some of these examples include – Chainabuse, Digital Innovation for America, JamesRuleXRP, 6Figs, and Brooke Lacey.
6. Outreach in the Capital
Recognizing the importance of federal-level dialogues and decisions, we have commenced outreach activities in Washington, D.C. Our aim is to ensure that policymakers at the highest level are well-informed and equipped with the information they need to make decisions that will shape the future of cryptocurrency.
We supported the Financial Innovation and Technology for the 21st Century Act and have circulated letters to Congress that broadly state our support for responsible digital currency regulatory policy.
7. Media Appearances
Several outlets and influencers in the crypto space have noticed our recent growth and successes. For example, our #stoptheSEC campaign spurred a Fox Business article, which several other crypto outlets picked up. We have also made several appearances on The O Show, Bitboy Crypto, JamexRuleXRP, 6Figs, and HelloFutureLive.
Plans for 2024
2024 offers unprecedented opportunities for DCTA to continue expanding grassroots efforts on the ground while leveraging our burgeoning coalition to influence electoral races to elect pro-crypto candidates.
Some of our planned efforts include:
- Creating a Get-Out-the-Vote Effort Focused on the Crypto Sector.
- Identifying Pro-Crypto Candidates for us to support.
- Introducing Legislation – We are currently developing numerous potential legislative vehicles that range from expanding Blockchain education at schools to enshrining a consumer’s right not to be debanked for accessing crypto services to additional disclosures to prevent fraud in crypto projects.
The Digital Currency Traders Alliance remains committed to its mission of ensuring a bright future for cryptocurrency while prioritizing the rights and protection of consumers. As we forge ahead, we invite stakeholders from all sectors to collaborate with us on this journey.
The activities in this report were updated October 2023