In the UK, a crypto structure has been created for the self-regulation of the scope of cryptocurrencies under the name CryptoUK. It included companies such as BlockEx, CEX.IO, Coinbase, CoinShares, CommerceBlock, CryptoCompare and eToro.
According to the publication, the managing director of the British eToro unit, Igbal Gandham, was elected chairman of CryptoUK.
“A lot of misconceptions are connected with the cryptocurrency sector. At the same time, it can transform our society. But we continue to hear about the activities of intruders and affected consumers. This was the reason for the creation of CryptoUK: the formation of a model of behavior and cooperation with governments and regulators, “he said.
Representatives of the organization already demanded comprehensive legal assessments, separation of clients’ and companies’ funds, “honest, transparent and not misleading” customer relations, as well as using cold wallets to store clients’ funds.
“CryptoUK will appeal to the government with a proposal to establish proper regulation to protect consumers and ensure business certainty, which will lead to the prosperity of this sector in the UK,” the statement said.