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UK Crypto Firms Begin Regulating Themselves, Not Waiting on Government

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Wed, 14/02/2018 - 16:03
UK Crypto Firms Begin Regulating Themselves, Not Waiting on Government
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Rather than waiting for the UK government to create its own regulations, seven large crypto companies, including Coinbase and CEX.io, have banded together to form their own self-regulating body, CryptoUK. The group is advocating “greater due diligence against illegal activities” as well as “safeguards against hacking” and “[ensuring] customer funds are paid out in the event of insolvency.” The group hopes that by regulating itself, it can stave off harsher government intervention.

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