Digital asset exchange Dacxi joins CryptoUK, a self-regulatory trading association for the UK cryptocurrency industry.
According to an announcement from CryptoUK today, it will be Dacxi join the group as the 8th executive member alongside Binance.UK, Coinbase, CryptoCompare, Electroneum, eToro, Ripple and Simmons & Simmons exchanges. Executive members are responsible for working together “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, the general manager of Dacxi’s UK branch, said the addition of the exchange was evidence of the company’s “growing role and influence in the UK’s crypto ecosystem”.
The self-regulatory group was established in early 2018 and has added more than 50 members as cryptocurrency adoption in the UK grows. Binance’s UK branch joined CryptoUK as an executive member in August, while crypto payment network Electroneum became part of the group in November.
CryptoUK stated it was currently focused on responding to the UK Treasury public consultation regarding a regulatory approach for cross-border stablecoins and other crypto assets. The government body announced on Thursday that it would accept responses until March 21.
The addition of Dacxi as an executive 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. The financial watchdog will do that on January 22 close to the public consultation on proposed changes to how the FCA increases fees.