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Everything about blockchain is disruptive and propitious which is why there are bodies and associations gaming up to shoot up its popularity with measures that would increase belief and adoption of the technology. One such illustrious entity is Blockchain for Europe which is the face of the international blockchain industry with players across the globe at the EU-level. Founded in 2018, it is a major blockchain association aiming to promote education and proactive regulation of Blockchain across the EU. When it was launched the association had four members including Ripple, the NEM Foundation, smart ledger development firm Fetch.AI, and Cardano-related startup Emurgo.
It works in a proactive manner and contributes to the acceleration of the regulatory debate. It believes that in supporting the major decision-makers in Europe, it can make blockchain technology a success. In a bid to do that, it collaborates with players spread not just regionally or nationally, but also globally both at the policy and at the industry level. All it is looking at is to support the advancement and furtherance of blockchain technology by use and education.
The latest player to join at the industry level is none other than Binance. Touted as the biggest exchange in the world by daily trading volume, it joined Blockchain for Europe on September 3’rd. With its entry in the inner circle of the association, it will follow major industry-related companies like Ripple, EOS developer Block.one, Fetch.ai, and Blockseed Ventures. Not just that, the association has also appointed Teana Baker-Taylor, as the new chairman of the board. Teena Baker currently is Binance’s head of operations in the United Kingdom.
As per the latest announcements and responses, at present, the Blockchain for Europe association is hell-bent on responding to the EU’s action plan on Anti-Money Laundering public consultation in addition to a consultation on the Digital service Act on smart contracts. The association is also active on the front of being a major voice in the ongoing discussions taking place to etch out a proposed EU framework for markets. This discussion was initiated in December 2019.
Binance is already a part of such associations. Especially at the beginning this year Binance.UK which is the UK subsidiary of Binance is now a part of CryptoUK. CryptoUK is the self-regulating industry association of which Binance.UK will be a member of the executive board. This new membership will enable Binance.UK to work with policymakers, industry experts, and academicians to develop a regulatory framework for digital assets. It has joined the group where already top industry players like Coinbase, CryptoCompare, and Ripple are a part of. Not just that this year June, Binance also joined the Internet and Mobile Association of India’s digital asset exchange committee to become a part of a major crypto revolution in the country and developing it block by block.
Binance’s participation in these regulatory bodies and associations comes at a time when there is growing adoption of cryptos even in unexpected markets. Being the top exchange, Binance participation sure brings in a lot of cheers.