It has been reported that by entering the group, Binance follows major industry companies like XRP-related firm Ripple, EOS developer Block.one, Fetch.ai, and Blockseed Ventures.
However, alongside welcoming a new member in the association, Blockchain for Europe appointed Teana Baker-Taylor, Binance’s head of operations in the United Kingdom, as a new chairman of the board.
Founded in late 2018, Blockchain for Europe is a major blockchain association in Europe that aims to promote education and proactive regulation of blockchain across the continent.
At the launch, the association featured four member companies including Ripple, the NEM Foundation, smart ledger development firm Fetch.AI, and Cardano-related startup Emurgo.
The association is now focused on responding to the European Union’s action plan on Anti-Money Laundering public consultation and the Digital Services Act consultation on smart contracts.
The group is also contributing to ongoing discussions on the proposed EU framework for markets in crypto-assets consultation conducted in December 2019.
As per the report, Binance has joined a number of regulatory-related groups in 2020. In late August, the exchange’s UK-based arm joined the self-regulating industry association CryptoUK as an executive member.
Thus, with the new membership, Binance.UK will be working with government policymakers to develop a regulatory framework for digital assets in the country alongside major companies like Coinbase, CryptoCompare, and Ripple.