CryptoUK welcomes Electroneum as seventh Executive Member alongside Coinbase, eToro, Ripple, Binance, CryptoCompare, Simmons & Simmons

CryptoUK welcomes Electroneum as seventh Executive Member alongside Coinbase, eToro, Ripple, Binance, CryptoCompare, Simmons & Simmons

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.

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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.

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“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.

About CryptoUK

Launched in March 2018, CryptoUK is the U.K.’s trade association representing the digital asset sector. Our members, composed of leading companies from across the industry, believe that crypto and digital assets can help enhance the way we undertake financial transactions, to the benefit of consumers, business, and security.

Together, we are working to help educate policymakers and regulators about the crypto and digital asset industry, and to work with them to develop a balanced and fit-for-purpose regulatory framework for the UK. Our members believe that by working together with policymakers and with each other, we can ensure that the U.K. fulfills its potential to be a global leader in this exciting new industry.

Media contact

Natalie Hall, Marketing & Membership Director

natalie@cryptouk.io

+44 (0)7900825646

 


 

 

 

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About Electroneum

Electroneum is a mobile-phone-based crypto app powered by a revolutionary instant payment system that enables its nearly 4.1 million registered users to send, receive, and transfer funds within minutes at a fraction of a U.S. cent. It is one of the only crypto apps that allows users to top up their airtime and data in 140+ countries and electricity top-ups in four African nations. Our users have completed millions of blockchain transactions, including over 300,000 app-to-app transfers and more than 200,000 airtime and data top-ups, making ETN one of the most widely used cryptos. Electroneum is the only crypto that has made earning its token possible. AnyTask is Electroneum's freelance platform, with hundreds of thousands of registered users and tens of thousands of tasks across dozens of categories. Electroneum and AnyTask do not require  users to have a bank or PayPal account, empowering millions of people to instantly access the global digital economy.