Dacxi, the digital asset exchange, has announced that it is joining CryptoUK, a self-regulatory trade association, for the UK cryptocurrency industry.
It has been reported that Dacxi will be joining the group as its 8th executive member alongside exchanges Binance.UK, Coinbase, CryptoCompare, Electroneum, eToro, Ripple, and Simmons & Simmons.
However, executive members are responsible for collaborating “to lead the association’s strategic direction” in addition to working with government policymakers in the UK to develop a regulatory framework for crypto.
Katharine Wooller, the Managing Director of Dacxi’s UK arm, said that the addition of the exchange was evidence of the firm’s “growing role and influence in the UK’s crypto ecosystem.”
The decentralized space just got a little more regulated. Dacxi is joining CryptoUK, a self-regulatory trade association for the U.K. cryptocurrency industry. Other members are Binance. UK, Coinbase, CryptoCompare, Electroneum, and eToro. https://t.co/wqXffNGpjx — Cointelegraph (@Cointelegraph) January 15, 2021
The report said that the self-regulatory group formed in early 2018 and has added more than 50 members as crypto adoption in the UK grows. Binance’s UK arm joined CryptoUK as an executive member in August, while the crypto payments network Electroneum became part of the group in November.
CryptoUK stated that it was currently focused on responding to the UK Treasury’s public consultation regarding a regulatory approach for cross-border stablecoins and other crypto assets.
Also, the government body announced last Thursday that it would be accepting responses until March 21.
Thus, the addition of Dacxi as an executive member comes just a week before the deadline for the group to respond to a November proposal from the country’s Financial Conduct Authority (FCA).
Source: Cointelegraph