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Binance joins Brussels-lobby Blockchain for Europe

Photo of: Joseph Stone
by Joseph Stone

Binance, the company behind the world’s largest cryptocurrency exchange, has announced today in a blogpost its membership in Blockchain for Europe, the European association representing international participants in the blockchain industry at the EU level. The objective of the Brussels-based lobby is to unite various important players in the crypto world in order to best defend the interests of Bitcoin (BTC), cryptocurrency and the blockchain in the European institutions.

As a global leader in the digital asset industry, Binance is committed to working with policymakers to educate and support the development of informed and effective governance models which promote the overall growth of the blockchain ecosystem

Teana Baker-Taylor, Binance UK Director

Teana Baker-Taylor, Director of Binance’s UK operations, was also appointed to the Board of Directors of Blockchain for Europe, along with Fetch.ai, Ripple, Block.one and Blockseed Ventures. Together, this group of experts and industry giants are working together to advocate for balanced policy and regulatory governance for Blockchain in Europe and help educate and support European decision-makers in their assessment of potential future opportunities for this new technology.

Blockchain for Europe and its members are currently working to respond to the public consultation on the EU Anti-Money Laundering Action Plan, to the consultation on the Digital Services Act (DSA) on smart contracting, and to contribute to the ongoing discussions on the proposed EU framework for crypto markets from December 2019.

Binance continues to assert itself as a major player in the crypto industry and this appointment allows it to continue to be unavoidable in a market that is seeing a very powerful new kid on the block in the form of decentralized exchanges.

Surely this isn’t only the reaction at the exponential growth of a very potent competitor but Binance taking a seat at the table when it comes to policy-making and European legislation (often seen as the strongest in the world in matters of tech) could be a strategic move to ensure their perennity as the world’s largest cryptocurrency exchange.

“Welcoming Binance to the Blockchain For Europe family is another great step in our mission highlighting the opportunities Blockchain technology offers to Europe. We are looking forward to incorporating the expertise and experience this global leader in blockchain brings to the table. In this process, we remain committed to help ensure an innovation- and business-friendly regulatory framework that fully fosters the benefits this new technology offers to European companies and citizens” said Robert Kopitsch, Blockchain for Europe Secretary-General.

The EU has not been historically particularly kind to cryptocurrency and has even shown its teeth a few times especially on certain projects which would have unbalanced its economy in general. The most well-known case was its distrust for Libra, Facebook’s cryptocurrency project.