• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
DCTA | Digital Currency Traders Alliance

DCTA | Digital Currency Traders Alliance

  • About Us
    • Our Team
    • Blog
    • Merch
  • Advocacy
    • Advocacy Portal
    • Events
    • Get Involved
  • Resources
    • Handbook
    • Bill of Rights
    • Glossary
    • Find Your Reps
  • Contact
  • Support Us
  • Membership

DFPI Request for Comment

DFPI Request for Comment

California’s Department of Financial Protection and Innovation (DFPI) has invited the public to comment on various issues related to cryptocurrency and blockchain technology. Since this feedback will help inform their proposed regulations, this is an excellent opportunity for the crypto sector to influence the final product while ensuring that consumer voices are considered as California drafts its policies and regulations concerning digital assets.

DFPI-crypto-invitation-for-comment-5-31-22Download

How to Contact

Comments may be submitted electronically to regulations@dfpi.ca.gov (please include “Invitation for Comments – Crypto Asset-Related Financial Products and Services ” in the subject line).

Comments may also be mailed to:

Department of Financial Protection and Innovation, Legal Division
Attn: Sandra Navarro, Regulations Coordinator
2101 Arena Boulevard
Sacramento, CA 95834

DFPI Commissioner Clothilde Hewlett invites interested parties to submit comments by the deadline of August 5, 2022.

What to Say in Your Comment

Given the breadth of the questions, you shouldn’t feel the need to reply to every point. But rather, single out the areas that matter the most to you as a consumer, and speak to those in an informed manner. Quality matters over quantity.

We recommend that the sector follows the three B’s:

  1. Be Concise
  2. Be Respectful
  3. Be Factual

Here are the ten questions DFPI is specifically seeking comment on:

  1. What steps should the DFPI take to better protect consumers from scams and frauds
    associated with crypto asset-related financial products and services?
  2. What steps should the DFPI take to improve consumer education and outreach for
    crypto asset-related financial products and services?
  3. What steps should the DFPI take to better ensure consumer protection in the offering
    and provision of crypto asset-related financial products and services?
  4. What steps should the DFPI take to better ensure investor protection in the offering and
    provision of crypto asset-related financial products and services?
  5. What steps should the DFPI take to better ensure financial stability in the market from
    risks posed in the offering and provision of crypto asset-related financial products and
    services?
  6. What steps should the DFPI take to address climate risks posed in the offering and
    provision of crypto asset-related financial products and services?
  7. How should the DFPI strive to harmonize its regulatory approach to crypto asset-related
    financial products and services with federal authorities?
  8. In developing a comprehensive regulatory approach to crypto asset-related financial
    products and services, how should the DFPI work with other state financial regulators to
    promote a common approach that increases the reach of DFPI’s consumer protection
    efforts and reduces unnecessary burdens, if any, on companies seeking to operate
    nationwide?
  9. How can the DFPI make California the most desirable home state for responsible
    companies when developing guidance and, as appropriate, regulatory clarity and
    supervision of persons involved in the offering and provision of crypto asset-related
    financial products and services in California?
  10. How should the DFPI ensure that California values of inclusive innovation and equity-
    focused consumer protection are core components of crypto asset-related financial
    products and services as it develops guidance and, as appropriate, regulatory clarity and supervision of those persons involved in the offering and provision of crypto asset-related financial products and services in California

(Optional) Social Media

The more thoughtful comments we can raise about this issue, the more regulators like DFPI will take notice of our community and demands as consumers. Please share this page with your social circles that might have something to say on this issue.

You can also use this quick click to tweet:

I support @CaliforniaDFPI as they build out positive crypto regulations and consumer protections in the state of California. Help write the future of crypto legislation by sharing your thoughts and comments here:… Click To Tweet

FAQs

Does My Voice Make a Difference?

YES! Especially when hundreds or thousands of voices come together to speak on a single issue. That’s why we’re coordinating these campaigns – politicians have no choice but to listen when we all speak up together.

What Happens Next?

After the request for comment deadline has passed, the office will review the comments and use the input they have received to help create a regulatory framework within the state. They will then release an initial draft of their proposed regulations and open an additional comment period for the public to share their feedback.

Does This Only Affect California Residents?

This specific request for comment campaign is specifically aimed at the DFPI, which is located in California. However, many states will watch what California does in this area and will ultimately influence future regulations and policies in states across the country.

Donate

Membership

Advocacy

Events

Education

Contact

About

Team

News

Member Login

Privacy Policy

Copyright © 2023 · DCTA | Digital Currency Traders Alliance · All Rights Reserved

Click to Copy