Binance joins Blockchain for Europe association

Major cryptocurrency exchange Binance said on Thursday it was joining a European blockchain industry group, a move that comes as policymakers look at how to oversee the emerging digital ledger technology.

Binance, the global blockchain company behind the world’s largest cryptocurrency exchange, today announced it is joining Blockchain for Europe, the European membership association.

One of the largest international cryptocurrency exchanges Binance has stated that it joins a European blockchain industry group. According to Reuters, this step was taken due to the fact that politicians intend to control the blockchain technology, which is developing rapidly.

In a statement, Binance said it would join Blockchain for Europe, a Brussels-based association that also includes Ripple, the largest cryptocurrency platform for payment systems. According to Binance, Blockchain for Europe advocates “balanced political and regulatory governance” for blockchain technology.

There are currently no specific rules on cryptocurrencies in the EU. Until Facebook unveiled plans to launch Libra’s own digital currency last year, cryptocurrency was not considered a significant problem in Brussels.

In addition, Binance has also recently joined cryptocurrency and fintech associations in the UK and Australia. According to CryptoCompare, in July, Binance recorded the largest trading volume among major exchanges — $ 68.4 billion.

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