Binance.UK, which is set to launch in the coming months, has joined self-regulatory trade association CryptoUK as an executive member.
CryptoUK was launched in 2018 and counts Coinbase, Ripple and CoinShares, among others, as its founding members. The trade association said it is currently focused on responding to HM Treasury’s current public consultation on cryptoasset promotions and contributing to the U.K.’s Cryptoasset Task Force’s consultation on stablecoins, expected later this year.
It is not clear specifically when Coinbase and other members joined CryptoUK. The Block has reached out to the association and will update this story should we hear back. Binance.UK, which joined the association today, is set to launch a regulated crypto trading platform in the country. A Binance spokesperson recently told The Block that Binance acquired EddieUK (now Binance Markets Limited), which is a regulated entity by the U.K.’s Financial Conduct Authority.
Notably, earlier this month, Coinbase exited blockchain advocacy group the Blockchain Association following the entry of Binance.US. At the time, a Coinbase spokesperson told The Block that “decisions made now have the potential to irreparably impair the credibility of the association and make it increasingly difficult for it to achieve its goals and those of its members.”
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.