April 25, 2014
IRTA Weighs-In With The State Of California To Protect The Barter Industry
The California Bureau of Consumer Financial Protection (CFPB) is proposing changes to the California Money Transmitter Act (CMTA) that could negatively impact the U.S. and international barter industry.
Therefore, IRTA has written a letter to the Legal Division of the California Department of Business Oversight in an effort to explain the history of our industry and to request that any changes to the CMTA will not characterize barter exchanges as "money transmitters," thereby excluding barter exchanges from any potentially restrictive language.
Click the button below to read the complete letter from IRTA Executive, Ron Whitney's April 25, 2014 communication to the State of California.
Latest Industry Advocacy By IRTA
We are working closely with our sales team to meet the demand for the business categories that are most important to you. Please continue to let us know what you need for your business, home and upcoming travel plans.
Due to a significant increase of new members joining weekly and in an effort to reduce the number of emails you receive from us, we are now publishing a weekly introduction to new members. It will be every Tuesday, so make sure to stay in the loop of who's joining CCTA and know the new places that you can spend your trade!
Message from Director of Trade William Riggs
The Kenyan Director of Public Prosecutions announced on August 23, 2013 that all charges against the Bangla-Pesa poverty reduction complementary currency program.
IRTA played an important role in the appeal process with the submission of Annette Rigg's June 4, 2013 letter to Kenyan government officials in support of the Bangla-Pessa program as "perfectly acceptable and legal form of commerce" that would "facilitate more exchange within the Bangladesh community and help the local economy.
AUGUST 25, 2013 BULLETIN:
CCTA's Upcoming Events with Director of Sales Jaime Cangemi
IRTA's President's Message -2015 and Beyond
Community Connect Trade © All Rights Reserved 2015.
As a member of IRTA's Universal Currency, CCTA members have access to trade for goods, services and travel with over 100 exchanges Worldwide. CCTA is a proud member of the International Reciprocal Trade Association, a non-profit organization committed to promoting just and equitable standards of practice and operation within the modern trade and barter and alternative capital systems Industry and raising the awareness and value of these processes to the entire Worldwide Community.
In 2015, both IRTA and UC have seen exceptional growth,
continually improved financials and IRTA has reached
important milestones as an advocate for the barter industry.
IRTA and UC exceeded revenue goals and anticipate
substantial growth this year. With the new customized software system, UC will continue to enhance collaboration and inter-trade opportunities for the barter industry.
On behalf of the IRTA Board of Directors, I want to give special
thanks to Ron Whitney, Patty Weston and the team at
BPS Technology for their diligence and hard work to achieve
the launch of the first software platform fully customized for
UC. They will continue to improve and enhance the system
and welcome your input!
The IRTA website has been redesigned to modernize the site and maximize internet SEO. The new website will be released in January of 2016. Also, the IRTA Bylaws have been re-written and modernized to reflect current best practice and the final version will be presented for board approval in January, 2016.
In January of 2015, IRTA obtained a favorable IRS Private Letter Ruling, which stated that as a pass-through entity UC does not have to provide 1099B’s to UC member exchanges, based on the fact that to do so would represent duplicate 1099ing of the same barter transaction. The guidance IRTA has derived from UC’s PLR confirms IRTA’s long held position that barter exchanges do not have to submit 1099B’s in direct reciprocal situations since both barter exchange participants in a direct reciprocal arrangement are in fact acting “as the clearinghouse between two barter exchanges to effect sales on behalf of their respective clients.”
IRTA also assisted Connecticut legal counsel in obtaining a favorable ruling from the Connecticut Bar Association to allow CT attorneys to participate in barter exchanges subject to reasonable parameters. This issue has come up in other jurisdictions in recent years and IRTA has successfully made the case for legal firms to continue to participate as members in the barter industry.
IRTA has continued to advocate for the barter industry on new state financial regulations concerning Money Transmitters as a result of the rise of cryptocurrencies and the potential impact on other complementary currencies including barter/trade currencies. We recently formed a “Money Transmitter Regulations Committee” with industry experts to monitor proposed crypto-currency regulations and intervene as necessary to protect the barter industry. The second major goal of the committee is to issue an IRTA Advisory Memo on crypto-currency/money transmitter matters to the industry in the first quarter of 2016.
We need the assistance of members outside of the U.S. to advise us if they are facing similar financial regulations so that IRTA and the Committee can address issues that might impact you and the industry at large.
The Complementary Economics Foundation (CEF) obtained its 501c3 tax exempt status from the IRS in July of 2015. The Foundations primary mission is to educate and build awareness of all sectors of the industry including; barter exchanges, corporate barter, countertrade and complementary currency systems. The foundation will officially launch in the first quarter of 2016 to help all sectors of our industry to grow and thrive. Contact CEF to make your cash or trade donations, www.ce-fdn.org.
IRTA entered into a consulting agreement with the International Islamic Trade Finance Corporation (ITFC) to provide a report including recommendations for the development of a multi-tiered barter system for OIC countries. Meetings were held at the ITFC headquarters in November and again in December of 2015 in Jeddah, Saudi Arabia as part of phase one of the project. The report was delivered by IRTA to the ITFC on December 22nd, 2015. We look forward to working further with the ITFC to support the establishment of trade initiatives in the region.
The Strategic Planning & Business Development Department of the Government of Dubai has expressed similar interest so momentum is building. IRTA has provided them with a comprehensive report on “Barter Industry Sectors & Supporting Reference Materials” and is coordinating a visit to the U.S. for March of 2016.
Our goals in 2016 are to continue to grow the memberships of IRTA and UC and to materialize the opportunities in front of us that will improve and expand our great industry. The Board of Directors will meet in late March for its annual two day planning meeting to evaluate and set the next steps and goals for IRTA and UC. Stay tuned for updates and upcoming news about the 2016 convention. We are working on new and more diversified seminar and workshop content for the next convention. Your input and participation is always appreciated.
Best wishes for success in the New Year!
President, IRTA & UC
Summer Gathering and Trade Show in June - Stay tuned for details!
Help CCTA grow by emailing or calling in with your referrals!
You will receive $100.00 in trade credits to your account for any qualified referral that signs up with CCTA! Your referrals are Very Important, they help us to sign businesses you trust and want to do business with.
What is a referral? An owner or manager that you know and have already spoken to about trade & CCTA. They would be expecting our call, or you've given them our contact information and they contact us.