The UK crypto startup will help the top trade association develop a balanced regulatory framework that protects businesses and customers while fostering innovation
Electroneum, the award-winning crypto start-up, has announced its Executive Membership of CryptoUK, the UK’s self-regulatory trade association representing the digital asset sector.
The UK-based crypto project has assumed a seat on CryptoUK’s Executive Committee alongside Binance, Coinbase, CryptoCompare, eToro, Ripple, and Simmons & Simmons.
This group of industry experts and stakeholders collaborate to lead the association’s strategic direction. That includes its Code of Conduct, policy positions, and governance to ensure the U.K. fulfills its global leadership potential in this quickly developing and expanding industry.
“Electroneum has built the crypto industry’s most unique ecosystem that, for the first time, enables people banked and unbanked to earn ETN via their global freelance platform AnyTask.com, and by accepting it as payment for products and services,” said CEO and Founder Richard Ells.
“Electroneum is one of the fastest-growing crypto service providers with nearly 4.1 million users, and our AnyTask platform has over 555,000 registered users and more than 20,000 tasks listed across dozens of categories and subcategories,” he added.
“One of our key regulatory concerns is micropayments. We have hundreds of thousands of people actively using our app for payments and transactions of very low face value,” said Ells. “We want to ensure that regulations do not stifle financial inclusion efforts such as ours.”
Electroneum is also committed to CryptoUK’s principles and self-regulatory Code of Conduct. As a member of the association’s Executive Committee, the company will take a leading role in proactively updating its Code of Conduct, ensuring it remains fit for purpose in delivering best practices among members.
“CryptoUK is the U.K’s digital asset trade association. Since our launch in 2018 CryptoUK has built meaningful relationships with industry participants, regulators and policymakers,” said Ian Taylor, Chair of the non-for-profit association.
“Our aim is to work in partnership with these actors to help develop a balanced regulatory framework which protects businesses and customers and fosters innovation. Electroneum brings further expertise to our Executive Board which will be instrumental in these efforts,” Mr. Taylor added.
CryptoUK and its members are currently focused on responding to the U.K Cryptoasset Task Force’s consultation on stablecoins expected later this year and seeking crypto tax transparency.