Binance joins ‘Blockchain for Europe’ association

Blockchain for Europe, a major European association advocating for the balanced regulation of the blockchain industry, has welcomed the world’s largest cryptocurrency exchange.

Binance, the biggest exchange by daily trading volume globally, has joined Blockchain for Europe, the association announced on Sept. 3.

By entering the group, Binance follows major industry companies like XRP-related firm Ripple, EOS developer Block.one, Fetch.ai, and Blockseed Ventures.

Alongside welcoming a new member in the association, Blockchain for Europe appointed Binance’s U.K. director Teana Baker-Taylor, as a vice-chair of the board.

Founded in late 2018, Blockchain for Europe is a major blockchain association in Europe that aims to promote education and proactive regulation of blockchain across the continent. At the launch, the association featured five member companies including Ripple, the NEM Foundation, smart ledger development firm Fetch.AI, and Cardano-related startup Emurgo.

According to the latest announcement from Blockchain for Europe, the association is now focused on responding to the European Union's action plan on Anti-Money Laundering public consultation and the Digital Services Act consultation on smart contracts. The group is also contributing to ongoing discussions on the proposed EU framework for markets in crypto-assets consultation conducted in December 2019.

Binance has joined a number of regulatory-related groups in 2020. In late August, the exchange’s U.K.-based arm joined the self-regulating industry association CryptoUK as an executive member. With the new membership, Binance.UK will be working with government policy makers to develop a regulatory framework for digital assets in the country alongside major companies like Coinbase, CryptoCompare, and Ripple.

In June 2020, Binance also joined the Internet and Mobile Association of India’s digital asset exchange committee to contribute to crypto development in the country.