Cryptocurrency trading firm Currency.com has joined the CryptoUK group as it looks to drive greater dialogue and collaboration with regulators and key policymakers.
Currency.com wants to contribute to the crypto regulation in the UK
European cryptocurrency trading platform Curency.com announced earlier today that it had joined the CryptoUK group as an executive member. CryptoUK is a trade association for the UK’s crypto, and it was established to promote higher standards of conduct in the cryptocurrency market.
According to its announcement, Currency.com is expected to share best practices and recommend how the cryptocurrency market will respond to industry developers. The trading platform will work with other members to provide information to regulators and other policymakers, helping drive new regulations in the sector. Currency.com will be joining other executive members of the group, including, Crypto.com, BCB Group, CryptoCompare, Electroneum, eToro, Ripple and Simmons & Simmons.
The head of strategy at Currency.com, Vitaliy Kedyk, said the firm is committed to helping boost regulations in the UK’s crypto market. He said, “Consumer and institutional adoption of cryptocurrencies and tokenized assets have grown steadily in recent months, suggesting the sector is on the cusp of turning mainstream. As demand for cryptocurrency picks up, regulation and best practices must continue to keep up with changes in the industry.”
Kedyk said the firm is committed to ensuring the integrity of the UK crypto sector and the general security of its investors. By joining the CryptoUK group, the firm believes that it can achieve its objective.
The UK, like other leading countries in the world, has become serious about regulating the cryptocurrency market. The Finance Conduct Authority (FCA) is regulating the market to ensure that there are no bad players and investor funds remain safe. The recent ban on Binance Markets Limited indicates that the regulator wouldn’t allow unauthorized entities to function in the United Kingdom.
Ian Taylor, Chair of CryptoUK, stated that he is looking forward to working with Currency.com to help ensure Britain becomes a global leader in terms of innovation, job creation and investment opportunity in the cryptocurrency sector.