The UK’s leading cryptocurrency companies have joined together to launch a self-regulatory trade body called CryptoUK to improve industry standards and engage policymakers on the future of the sector.
CryptoUK comprises seven founding members including trading platforms, exchanges, comparison sites, intermediaries, merchants and asset managers. They are BlockEx, CEX.IO, Coinbase, CoinShares, CommerceBlock, CryptoCompare, and eToro.
The association will work to raise understanding of the sector at a time of significant growth in popularity and call on the government to introduce appropriate regulation to protect consumers and business certainty, allowing the sector to flourish in the UK.
CryptoUK has developed an industry-leading Code of Conduct, the first in the UK, which members must comply with and is intended to improve standards in the industry.
Iqbal V Gandham, UK Managing Director of eToro, has been elected chair for the first year. Members hope that more businesses will join over the coming months.
We’re extremely proud to have brought together some of the leading players in the sector. This Association is not only about exchanges, we represent the whole crypto sector, apart from ICOs. All of us are unified by a desire to grow in the UK and for the need for collaboration with government on what our future operating environment looks like.
Iqbal V Gandham
The association does not represent ICOs now with CryptoUK committing to developing a specific Code of Conduct for the process.