Currency.com has linked up with CryptoUK to help regulators and policymakers enact a new framework and accompanying measures to govern the UK’s expanding cryptocurrency industry.
Committee To Address Industry Developments & Share Insights
As cryptocurrencies continue to witness a surge in adoption in the UK, they have quickly become the focus of attention at the Financial Conduct Authority (FCA), which oversees the cryptocurrency AML and CTF activities.
While the FCA has introduced several guidelines to help crypto exchanges operate within the country, the existing policies make it difficult to push for mainstream crypto adoption. Part of this is because most regulations governing crypto are still at a nascent stage and need further optimization, which is only possible when there is a transparent exchange of information between all involved parties.
To help facilitate productive dialogue between regulators and industry leaders, Currency.com, the world’s first regulated tokenized assets exchange, has joined CryptoUK, a self-regulatory trade association for the UK cryptocurrency industry.
Practising Proactive Engagement
CryptoUK, the trade body representing the digital asset sector in the UK, serves as the platform to forge stronger connections between communities. The platform works directly with policymakers and market participants to develop balanced policies and regulations governing cryptocurrencies in the UK and EU.
“Consumer and institutional adoption of cryptocurrencies and tokenized assets has 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.”Per Vitaliy Kedyk, Head of Strategy at Currency.com
As an Executive Committee member, Currency.com joins other noteworthy industry players, including CoinShares, CrytpoCompare, eToro, Crypto.com, Ripple, BCB Group, Electroneum, Simmons & Simmons, and several other leading brands to share best practices and realize the benefits of clearer policy guidelines.
Ian Taylor, Executive Director at CryptoUK, concludes:
“Our community collaborates to grow the UK’s digital asset sector and help develop a supportive regulatory framework for crypto asset businesses and consumers. Currency.com will bring significant local and global expertise to our Executive Committee and its initiatives. We look forward to working with them to help ensure the UK fulfils its global leadership potential and to foster innovation, job creation and investment opportunity.”