Binance Joins Industry Bodies in UK, Australia

Crypto Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term giant Binance announced today that its UK subsidiary has joined the self-regulating industry association CryptoUK, the Australian entity has become a part of the local fintech industry advocacy body Fintech Australia.

As an executive member of CryptoUK, Binance has joined the peer groups of Coinbase, Coin Shares, CryptoCompare, eToro, and Ripple, all of which are responsible for the association’s Code of Conduct, policy positions, and governance, ensuring a leading position for UK’s crypto exchange on a global scale.

“As a global leader in the digital asset industry, we are committed to working with both our industry peers and policymakers to facilitate discussion and education that foster sustainable policy development in the UK to support and promote a continued focus on financial services innovation,” Teana Baker-Taylor, UK director for Binance, said in a statement.

Australia - a Major Fintech Market

However, in Australia, the advisory group oversees the overall fintech industry rather than just crypto. Other members of the body include Afterpay, Square, Stripe, and Transferwise.

Fintech Australia came into existence due to the growing operations of fintech companies in the country. Additionally, it works with the government in developing the industry.

“We’re excited to be joining the FinTech Australia community and look forward to collaborating with other members to champion local issues impacting our users and the wider industry,” Binance Australia CEO, Jeff Yew said.

“We aim to bring additional cryptocurrency expertise to FinTech Australia’s membership base. It’s important for us to continually drive awareness and education of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term to increase adoption in Australia. We believe this will lead to more innovation and economic opportunities across the nation.”

Meanwhile, Binance is continuing its expansion across different markets. It recently expanded services to the US state of Florida, now covering 38 states in the country.