Binance, the world’s largest cryptocurrency exchange, has joined “Blockchain for Europe” association.
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.
📢#BlockchainforEU is welcoming a new member to the family. As of today the world’s largest cryptocurrency exchange, @binance, is joining the association! Our strong membership will work to ensure the Blockchain ecosystem gets the future-proof EU regulation it needs to innovate. pic.twitter.com/LaIpil0t1U — Blockchain for Europe (@BlockchainforEU) September 3, 2020
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.
Binance joins ‘Blockchain for Europe’ association https://t.co/TOfkBcavEw via @cointelegraph — _cryptotalk (@cryptotalk50s) September 3, 2020
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.
Source: Cointelegraph | Image: PR Newswire