Aligning with their core values of transparency and education, and with the intention to raise the bar for other bitcoin-centric companies, Bitstocks has now joined the trade association, CryptoUK, as a community member.
CryptoUK is a self-regulatory trade association for the UK cryptocurrency industry, established to promote higher standards of conduct. They represent businesses that seek to share best practice, respond to industry developments, and help inform regulators and policymakers of the benefits of the technology.
Bitstocks joins their ever-growing roster of businesses committed to doing more to raise the calibre within the industry, and actively engage with the wider legislative dialogue around the future of Bitcoin and blockchain technology.
Ian Taylor, Chair of CryptoUK, said: “It is our pleasure to welcome Bitstocks to the UK digital asset industry’s trade body. We look forward to working with the team as we, in partnership and with and behalf of our growing membership, raise awareness, educate and advocate in the public and private sectors.”
The cryptocurrency industry has previously been described as a ‘regulatory wild west’, but despite what some media reporting would have you believe, not all cryptocurrency companies are scammers and con-artists. Like Bitstocks, many companies are now actively pushing for increased regulation and oversight within the space - to weed out misconduct or deceitful practices which reflect badly on the reputation of the industry as a whole.
Bitstocks CEO, Michael Hudson, echoed these sentiments, saying: “Technology is the liberator of man - this is our second philosophy at Bitstocks. It’s also our approach when we look at the subject matter of compliance and how blockchain technology can aid us in our compliance goals. Transparency is now a key selling point for companies in the industry and we’re happy to be joining CryptoUK to further this.”