As President of the eCTA I have been somewhat remiss in issuing
communications due to work pressures and would like to thank those Board
members who have taken up the load for me over the past few months.

In a relatively short period of time we have grown from 4 to 20 members
(Those suspended are still members currently) and though this is not a bad
start we still have a long way to go.

One of my goals has been to get people involved in committees, we had felt,
in the past that we had too few members to do this but now I have asked the
board to set up appropriate committees and recruit people for them. This
then will begin the process to have more people, who are not just members
but also contributing to the organization to make the eCTA a better and
stronger organization. The more members we can have contributing with
research, formulating processes and policy to be proposed to the board and
members the faster we will be able to implement more facilities and benefits
for the members and perhaps even exchange providers as a whole. Leaving all
the work to just a few simply extends the time required to achieve our goals
and time is not always on our side. So the call has gone out! We are looking
for members, and non members also, who are interested in helping to create a
brighter future in the gold industry by doing simple but votal activities
such as research, obtaining quotes, interviewing people, gauging public
responses to proposed new facilities and activities.

Regarding recent events. The disciplinary measures against 2 members was an
agonizing decision for the board, though I felt it better to abstain from
the second. However in regard to this the time has come to set the record
straight.

Mr. Kelly, was one of the four original founders of eCTA and contributed
valuable input at that time. However, he was remiss in submitting necessary
paperwork to be accorded the founders status despite paying his membership
dues. As both were required to achieve full status as a member he did not
actually become a member until more recently when his paperwork and
subsequent verification could be achieved. Further, in the initial setup of
eCTA Mr. Kelly was named Interim President but, as he has admitted, did
little to warrant the posting at that time. His public postings, by the way,
seem to reflect that he doesn't remember that title as he keeps referring to
the chairman. Perhaps, the confusion came about as I had asked if he would
be willing to chair a committee for the eCTA during my meeting with him in
Riga, last month. He agreed to that at the time, and I am still willing to
pursue this, if and when he conforms to board decision and becomes a member
in good standing once again.

Public and private outcry do not do the industry any good, particularly as
we have the exchange-alliance discussion list where such matters can be
discussed in relative privacy.
When such matters are discussed, as they have been, publicly we appear to
those watching as a group of bickering children and not responsible business
owners/managers.

That was the issue the board ruled on. Not the issue of ownership or the
legalities of domain names or trademarks. The eCTA was never intended to
resolve legal matters, perhaps, this is something that should be looked at.
I would be happy to nominate, to the board, members who would like to form a
committee and address the issue. Those wishing to serve please contact the
board or any member to apply.

On another matter, there have also been numerous public postings alluding to
the creation of a copycat eCTA style organization. Personally, I think that
working within the eCTA, the existing organization, is a much better and
positive way to go. Creation of another organization would only confirm any
public feeling about lack of professionalism in the industry, create
confusion for the public and would simply demonstrate that we cannot agree
to forge ahead for the betterment of all with a united purpose. having half
a dozen associations would simply show a Mickey mouse approach. Hardly
conducive to an industry striving to display a professional and responsible
face to the financial world

The bottom line is, that we do not need another organization, we need to
continually seek ways to improve the one we have. This is achieved by
rolling up our sleeves and contributing in the best possible way with
positive ideas and promoting the eCTA as the One Stop Shop for the public to
securely find out about our industry in the best possible  way. It is easy
to knock the eCTA. It does not take much effort to be critical. You will
note it was NOT the knockers that strived to create and put in place an
association for the benefit of the public and the exchangers in the first
place. It was those who were prepared to stick their head out and do
something and to make this work for the good of everybody.

 So let's turn from negative pursuits and energies to positive pursuits and
energies.

With that in mind I am happy to say we have made excellent progress with our
fraud database and eventually we hope it will be the single point that all
of us can turn to so that a fraudster identified in one DGC becomes known
instantly to all of them as well as all the market makers, exchange
providers and cambios. The software has been developed to allow for
automatic interface to this to make our life easier in accomplishing this.
We have many other fantastic ideas also in the pipeline and on the
backburner just waiting to be pursued when we have additional support.

So let's see what other actions we can take to strengthen these endeavors in
a responsible manner!

Regards,

Frank Zuchristian
President
eCurrency Trade Association Inc.
www.exchangeprovider.net
'Setting the standard for the Gold Based Economy'





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