Cryptocurrency exchange EXMO announced it has officially joined the self-regulatory cryptocurrency-focused trade association called CryptoUK.
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The UK-registered exchange will reportedly work together with other members of the association, regulators and policymakers to develop an appropriate regulation of the industry in the UK.
EXMO Chief Operating Officer Sergey Zhdanov believes that collaboration of crypto projects "is vital for the growth of crypto industry and for the development of the best practices for market participants."
The CryptoUK team said in an official announcement that EXMO's team "stood at the origins of the crypto business, and during this time, we understood how to make trading convenient."
In July 2019, EXMO signed a partnership with Sumsub, a provider of one gate to all onboarding and compliance challenges and legal expertise, to achieve smooth onboarding while seamlessly fighting against fast-growing identity fraud.
Earlier in August 2020, the British affiliate of the Binance cryptocurrency exchange, Binance.UK, also joined CryptoUK as an executive member.
The CryptoUK association was formed in February 2018. At press time, the association includes the following executive members: Coinbase, Binance, CoinShares, CryptoCompare, eToro and Ripple.
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