Binance.UK joins the self-regulating trading group CryptoUK

Binance.UK joins the self-regulating industry association CryptoUK as an executive member.

Binance.UK will join a group of stakeholders such as Coinbase, CryptoCompare and Ripple who will guide the association's strategic activities and work with government decision-makers to develop a regulatory framework for digital content in the UK.

CryptoUK was created in early 2018 and promotes an active code of conduct for its members. Binance.UK intends to take an active role in updating this code to ensure it continues to deliver the best solutions. This announcement was welcomed by CryptoUK chairman Ian Taylor:

"Binance.UK will bring significant local and global knowledge to our Executive Committee and initiatives. We look forward to working with them to help create a supportive regulatory framework for UK cryptocurrency businesses and clients."

Binance announced its expansion into the UK market in June, with a regulated exchange platform planned to be launched in the fall.

The venture is led by banking and fintech veteran Teana Baker-Taylor. Regarding Binance.UK's accession to the CryptoUK association, Baker-Taylor said:

'Self-regulatory bodies play a key role in developing [...] best practice as well as building consumer confidence. Associations such as CryptoUK help facilitate constructive discussion and education with policymakers, enabling the development of more informed policies that are more effective in supporting both industry and consumers ".

Binance.UK offers simplified functions for buying and selling cryptocurrencies, as well as bank deposits and withdrawals in British pounds and euros. It is aimed at both novice and more advanced users in the UK and all over Europe.