In brief

  • Binance.UK has joined self-regulatory trade association CryptoUK as an executive member.
  • As well as Binance.UK, the CryptoUK Executive Committee includes companies such as Coinbase, CoinShares, CryptoCompare, eToro and Ripple.
  • CryptoUK advocates for a supportive regulatory framework for cryptoasset businesses in the UK.

Binance.UK, the international cryptocurrency exchange’s British arm, has joined crypto-focused self-regulatory trade association CryptoUK as an executive member, the company announced today.

“We are committed to working with both our industry peers and policymakers to facilitate discussion and education that foster sustainable policy development in the UK to support and promote a continued focus on financial services innovation,” said Binance.UK director Teana Baker-Taylor.

What is CryptoUK?

According to the announcement, Binance.UK will assume a seat on the CryptoUK Executive Committee alongside companies including Coinbase, CoinShares, CryptoCompare, eToro and Ripple.

The committee is in charge of steering CryptoUK’s strategic direction, including its code of conduct, policy positions and governance, with a view to ensuring that “the UK fulfills its global leadership potential in this quickly developing and expanding industry.”

CryptoUK has built “meaningful relationships” within the cryptocurrency industry as well as with regulators and policymakers, noted CryptoUK chairman Ian Taylor. He added that the association looks forward to working with Binance.UK to “develop a supportive regulatory framework for cryptoasset businesses and customers in the UK.”

As Decrypt reported in mid-June, cryptocurrency exchange Binance announced that it will launch a trading platform in the United Kingdom this summer, aimed at both retail and institutional investors. The Binance.UK platform will support up to 65 digital assets at launch. UK customers will be able to buy and sell crypto using Great British Pounds and the Euro.