Posted 8 months ago | by Ben Armstrong

Binance.UK to be Executive Member of Trade Association CryptoUK

Recently, Binance.UK became an executive member of the self-regulating trading association CryptoUK.

Binance has shown impressive growth and it reflects in the unique position of the exchange. In terms of liquidity, the number of users and especially the value of BNB has been a big force in the markets.

The exchange will pull stakeholders such as Coinbase, CryptoCompare and Ripple together in leading the strategic path of the group and partnering with government policy makers to establish a digital asset regulatory structure in the UK.

Binance.UK and CryptoUK are Good to Go

Founded at the beginning of 2018, CryptoUK is the UK’s leading trade association whose mission is to support members in their active code of conduct. Binance.UK plans to make efforts in delivering the best approach via instant updates, which is encouraged by the Investment Banker and Chair of CryptoUK, Ian Taylor.

Taylor stated,

“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 is now a billion dollar blockchain ecosystem, with operations spanning a wide variety of platforms. The next target destination of Binance will be the United Kingdom with Binance’s announcement for its expansion in this new market.

As media reported, the exchange works on creating a regulated exchange platform. The project is expected to be officially launched in the autumn of this year.

A Good Move for Regulations

CryptoUK is managed by Teana Baker-Taylor, a bank and development veteran.

Baker-Taylor stated,

“Self-regulating bodies play a key role in developing...best practices, as well as building consumer confidence. Associations like CryptoUK help to facilitate meaningful discussion and education with policy makers, which enables the development of more informed policies that are more effective in supporting both the industry and consumers.”

Binance.UK has been developed to provide streamlined functionality, including bank deposits and withdrawals available in British pounds and euros, for the purchasing and selling of cryptocurrencies.

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