Binance.UK has joined the crypto-asset trade association CryptoUK as an Executive Member as it seeks to boost its visibility in the UK market. Other executive members include Coinbase, eToro, Ripple, and more. CryptoUK seeks to encourage a set of best practices along with a Code of Conduct as it interacts with regulators and policymakers to help foster of positive crypto-asset market in the UK.
Binance is said to be the largest crypto exchange in the world. The platform has established multiple local marketplaces designed to adhere to local regulatory requirements.
Teana Baker-Taylor, U.K. Director for Binance, said they are launching a fiat-crypto trading platform to serve the increasing interest and participation in the U.K. digital asset markets.
“As a global leader in the digital asset industry, we are committed to working with both our industry peers and policy makers to facilitate discussion and education that foster sustainable policy development in the U.K. to support and promote continued focus on financial services innovation,” said Baker-Taylor.
Binance.UK states that it has committed to CryptoUK’s principles and self-regulatory Code of Conduct.
CryptoUK Chair, Ian Taylor, commented on Binance joining his group:
“Since our launch in early 2018, CryptoUK has built meaningful relationships with industry participants, regulators and policymakers. 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 cryptoasset businesses and customers in the U.K.”
CryptoUK reports that it is currently focused on responding to HM Treasury’s public consultation on ‘Cryptoasset Promotions’ and contributing to the U.K.’s Cryptoasset Task Force’s consultation on stablecoins, expected later this year.