Digital Asset Exchange Dacxi joins CryptoUK, a self-regulatory trade association for the UK cryptocurrency industry.
According to an announcement from CryptoUK today, Dacxi will join the group as the 8th executive member alongside exchanges Binance.UK, Coinbase, CryptoCompare, Electroneum, eToro, Ripple and Simmons & Simmons. The executive members are responsible for collaborating “to lead the strategic direction of the association” in addition to working with UK government policymakers to develop a regulatory framework for crypto.
Katharine Wooller, managing director of the UK branch of Dacxi, said the addition of the exchange was proof of the company’s “growing role and influence in the UK’s crypto ecosystem.”
The self-regulatory group formed in early 2018 and has added more than 50 members as the adoption of crypto in the UK grows. Binance’s UK branch joined CryptoUK as an executive member in August, while crypto payments network Electroneum became part of the group in November.
CryptoUK said it is currently focusing on responding to the UK 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 accept responses until March 21.
Dacxi’s addition 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 January 22, the financial watchdog will close the public consultation on proposed changes to how the FCA increases fees.