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Digital Asset Advocacy Group

The Digital Asset Advocacy Group (DAAG) is a not-for-profit organization that promotes safe and regulated digital currency lending, depository and other consumer financial practices.

Digital Asset Advocacy Group

About DAAG

Over the past few years, the rising growth and adoption of “crypto lending” has provided consumers with newfound financial freedom and opportunity thanks to the benefits of blockchain technology and decentralized financial protocols. Unfortunately, there are a number of bad actors in the space, whose actions not only weaken public perception of this new industry but above all, harm many investors and consumers.

These predatory “crypto-lenders”, such as Bulgaria-based, take advantage of consumers by denying them the transparency and insight needed to make informed decisions about their own financial futures.

It is only through increased consumer education and regulatory safeguards that we can put a stop to predatory crypto loans and ensure more consumers don’t fall victim to high-risk lending schemes.

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About DAAG

Spot the Signs

Learn the top six red flags of crypto lending and what to watch out for when picking a crypto lender.

Have you witnessed one of the signs below or suffered a negative experience with crypto lending? Take action now!

Unfair Contractual Provisions

Language that allows a company to acquire the ownership title and rights of ownership for your collateral, or the ability to dispose of it at the company’s “sole and absolute discretion”

Suspensions of Services

History of suspending services and payments – especially those that failed to provide notice to their customers.

Poor Reputation

Negative reviews on consumer protection sites like Better Business Bureau and Trustpilot.

Mistreatment of Customers

History of taking legal action against their own customers and censorship of customer complaints about poor customer service.

False Claims of Regulatory Compliance

Claims of being in “full compliance with all applicable global and local regulations” while lawsuits and legal action by regulators suggest otherwise.

Foreign Ownership/Overseas Corporate Structure

Foreign ownership and a company structure, including leadership, located and incorporated somewhere overseas – making them less accountable to their US-based customers and regulatory system.