The British affiliate of the Binance cryptocurrency exchange, Binance.UK, has joined a self-regulatory trade association called CryptoUK as an Executive Member.
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According to an official press release, Binance.UK will share the CryptoUK Executive Committee, alongside Coinbase, Ripple, eToro, Coin Shares and CryptoCompare.
The group will focus on the Association’s strategic direction, including the Association’s Code of Conduct, policy positions and governance to ensure the UK meets its global leadership potential.
Teana Baker-Taylor, UK Director at Binance, says the exchange is committed to working with both its industry peers and policymakers "to facilitate discussion and education that foster sustainable policy development in the UK to support and promote continued focus on financial services innovation."
Previously in August, the US-based cryptocurrency exchange Gemini received an approval from the UK's Financial Conduct Authority (FCA).
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Hence, Gemini became the first US-based cryptocurrency exchange and the second digital assets company that had been added to the FCA's list of licensed cryptoasset firms.
Starting from January 2020, firms carrying out specific crypto-related activities in the UK are obliged to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) and register with the FCA.
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