Tag: Cryptouk

Surveillance Firm Launches Launches Push Towards Crypto Market Safety With 16 Other Industry Leaders

by Dailyhodl

New York-based crypto surveillance firm Solidus Labs is teaming up with leading digital asset exchanges, trading firms and industry associations to launch a new crypto market safety initiative.

In a statement, the Crypto Market Integrity Coalition (CMIC) outlines how it will make the crypto market a safer space amid the emergence of new risks.

“The market integrity pledge introduced by the coalition is focused on a commitment to continuously strive towards higher standards of market integrity, risk monitoring, consumer protection and compliance, in order to maintain fair and orderly digital asset markets and prevent market abuse. “

The initiative also wants to engage with regulators to address the challenges in the industry.

“Over time, the coalition will take further steps, including advancing training programs, sharing insights and research, dialoguing with regulators, and considering data-sharing and shared-surveillance frameworks that can address crypto and decentralized finance’s unique cross-market supervision challenges.”

Solidus Labs initiated the formation of the group and co-founded the coalition with 16 other industry leaders, namely Coinbase, Circle Internet Financial, GSR, Huobi Tech, Anchorage Digital, CrossTower, BitMex, Bitstamp, Securrency, Elwood Technologies, CryptoCompare, MV Index Solutions, Global Digital Finance, the Chamber of Digital Commerce, CryptoUK, and Liberty City Ventures.

The CMIC says it is inviting other members of the crypto community to join the coalition.

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Featured Image: Shutterstock/Oceloti/Natalia Siiatovskaia

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Currency.com Joins UK’s Crypto Trade Association CryptoUK as an Executive Member

by Blockchain News

Currency.com, the fast-growing encryption platform in Europe, has officially announced that it will join CryptoUK, the trade association of the UK’s encrypted digital industry, as an executive member.

Currency.com, the world’s first regulated tokenized assets exchange to trade fast and securely, became the tenth executive member to join the organization.

Other executive members of CryptoUK include Crypto.com, CryptoCompare, BCB Group, Electroneum, eToro, Ripple, and Simmons & Simmons.

Currency.com stated that in addition to sharing its own experience gained from its own practice and its prospects for the future cryptocurrency industry, it will also provide regulatory agencies and policymakers with corresponding cryptocurrency information to promote the development of the industry’s regulatory framework.

Vitaliy Kedyk, Head of Strategy at Currency.com, said:

“Consumer and institutional adoption of cryptocurrencies and tokenised assets has grown steadily in recent months, suggesting the sector is on the cusp of turning mainstream. As demand for cryptocurrency picks up, regulation and best practices must continue to keep up with changes in the industry. To foster greater dialogue, collaboration and knowledge-sharing between the burgeoning crypto sector and regulators, we have joined CryptoUK as an Executive Member.”

CryptoUK is the self-regulatory trade association for the UK crypto-asset industry, which was established in 2018. It currently has more than 50 members committed to the development and regulation of the UK cryptocurrency regulatory system, aiming to make the British a “core of fintech capabilities and talents”.

Image source: Shutterstock

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Dacxi joins self-regulating trade group CryptoUK as executive member

by Cointelegraph

Digital asset exchange Dacxi is joining CryptoUK, a self-regulatory trade association for the U.K. cryptocurrency industry.

According to an announcement from CryptoUK today, Dacxi will be joining the group as its 8th executive member alongside exchanges Binance.UK, Coinbase, CryptoCompare, Electroneum, eToro, Ripple and Simmons & Simmons. Executive members are responsible for collaborating “to lead the association’s strategic direction” in addition to working with government policy makers in the U.K. to develop a regulatory framework for crypto.

Katharine Wooller, the managing director of Dacxi’s U.K. arm, said the addition of the exchange was evidence of the firm’s “growing role and influence in the U.K.’s crypto ecosystem.”

The self-regulatory group formed in early 2018 and has added more than 50 members as crypto adoption in the U.K. grows. Binance’s U.K. arm joined CryptoUK as an executive member in August, while crypto payments network Electroneum became part of the group in November.

CryptoUK stated that it was currently focused on responding to the U.K. Treasury’s public consultation regarding a regulatory approach for cross-border stablecoins and other crypto assets. The government body announced last Thursday that it would be accepting responses until March 21.

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, or FCA. On Jan. 22, the financial watchdog will close the public consultation on proposed changes to the way the FCA raises fees.