Currency.com revealed that they are going to become executive members of U.K’s regulators and policy makers.
Currency.com is a Cryptocurrency exchange and they are going to be a part of the regulatory authorities’s member of the United kingdom. If they become Executive members of cryptoUK, then they will be able to contribute to the perfect regulation framework which is in effect for crypto users in the United Kingdom.
On Thursday 22 July, currency.com announced that they will become executive members of cryptoUK.
According to Currency.com, existing executive members of CryptoUK are responsible for leading the association’s strategic direction”. They mean the existing members are helping them to achieve the position in the regulatory group.
Currency.com added a statement
“to drive greater dialogue and collaboration with regulators and policy makers” will leads in help the regulatory framework regulation in perfect manner.
Vitaliy Kedyk, head of Strategy of the company, said that use of the growing mainstream Cryptocurrency market needed to bind in the perfect regulation and also best practices are necessary to adapt.
Ian Taylor, chairperson of CryptoUK stated that
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.”
So clearly the whole partnership indicates that for a better Cryptocurrency Framework rule & regulation we need support of crypto services at official level to get perfect suggestions against the challenges that occur in the Cryptocurrency industry.
Before Currency.com, Binance.UK, Crypto.com, CryptoCompare, Electroneum, eToro, Ripple, BCB Group, Outlier Ventures, and Simmons & Simmons are already executive members of CryptoUK. Which are already supporting and helping the U.K’s regulatory Framework.