Crypto asset exchange Dacxi is reportedly going to become a member of CryptoUK – a self-regulatory trade entity dedicated to the U.K’s crypto sphere.
Specifically, with the new initiative, Dacxi will be following the footstep of numerous big names across the industry, nominally Binance.UK, Coinbase, CryptoCompare, Ripple, eToro, being the 8th member.
The members of the entity will reportedly be tasked with leading the association’s strategic direction”, apart from interacting with the regulators from the UK authority, to design a crypto-focused regulatory framework.
Katharine Wooller, the managing director of Dacxi’s U.K. division, reportedly remarked that the latest initiative from Dacxi was a sign, showing the company’s “growing role and influence” throughout the U.K.’s crypto ecosystem.
The self-regulatory organization was reportedly established 2 years ago (2018), and has since finalized the onboarding for over 50 members, alongside the rising adoption rate of crypto across the UK.
Binance’s U.K. branch reportedly onboard CryptoUK to work as an executive member in August last year, while crypto payments network Electroneum’s join time was 2 months later in November.
CryptoUK reportedly revealed that it was at the moment shifting all concentration towards responding to the U.K. Treasury’s public consultation, regarding an approach to cross-border stablecoins, in terms of regulations, as well as different digital assets.
News of Dacxi joining CryptoUK reportedly surfaced just a week prior to the deadline for the group to respond to a November proposal from the country’s Financial Conduct Authority, or FCA.