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The United Kingdom has been a prime region for digital assets and in order to give the future a more definite direction, the self-regulating industry association CryptoUK has been making rapid strides by associating with the biggest in the crypto space. It has already formed strategic partnerships with several big names including Couinbase, Ripple, and Crypto Compare, and now joining its list is another big name – Binance.UK. Binance.UK will be joining the self-regulating CryptoUK as an executive member.
Binance.UK will be the executive member
Binance.UK will assume a seat alongside the other name we mentioned and together the group of industry experts and stakeholders will collaborate to lead the Association’s strategies and future direction. This will include the code of conduct, policy positions, and also governance policies to see to it that the UK fulfills its goal of becoming a leader in the global circle of the industry. With Binance.UK in the picture now, it is likely to bring both local and global expertise to the initiatives of the association. CryptoUK Chair, Ian Taylor commented:
“Binance.UK will bring significant local and global expertise to our Executive Committee and initiatives. We look forward to working with them to help develop a supportive regulatory framework for crypto-asset businesses and customers in the U.K.”
Binance.UK will be launching a fiat-crypto trading platform to serve the increasing participation in the digital asset market in the country. Binance is the global leader of the digital asset industry and is committed to working with industry peers as well as important policymakers to encourage fair deliberations and provide resources that will motivate sustainable policy development in the U.K to continue its focus on innovation in the financial services industry.
By joining hands Binance.UK is committed to its principles and code of conduct. As a member of the executive committee, it will take a leading role in updating the code of conduct and ensures that it is future-proof and showcases the best example of benchmark practices.
CryptoUK undeniable focus on crypto-asset sector
CryptoUK was launched in 2018 and since its launch, it has endeavored to build strategically beneficial bonds with industry leaders, regulators, and policymakers.
CryptoUK is the country’s self-regulatory trade association that represents the interest of the crypto-asset sector. Its members are leading companies in the sector that believe that crypto-assets can augment financial transactions to holistically benefit the customers, business, and security. It has always believed in the need for a strict yet supportive regulatory framework for the sector in the UK. The Cryptoassets Taskforce was launched following its campaign by the UK government which published its final report in 2018.CryptoUK and its esteemed members are focussed on crypto-asset promotions and believe that with their efforts they can contribute to U.K’s crypto-asset taskforce consultation on stablecoins which is expected later this year.
CryptoUK has already set a high standard for the industry with self-regulation as an important stepping stone to full regulation.