Pillar in the CryptoUK — why and what does that mean?
Pillar Project and 20|30 recently became members of the CryptoUK trade association. These kind of associations are crucial to moving things forward in the crypto space. Why? Because they can bring big traditional players attention to this space.
Why are traditional investors hesitant to dive deeper into the crypto market?
- The lack of regulatory backing and stability that are essential for professional investments.
- The downturn in crypto asset prices and ICOs from previous years
- The lack of maturity in the nascent industry (blockchain has only been around a few years)
What are the benefits that this membership brings to Pillar?
- Puts us in the position to have our voice be heard
- Supports the ethos of Pillar and everything we stand for
- Helps create partnerships to move our project forward
- Educates policymakers to the potential of the new world we are striving to create
CryptoUK is the first self-regulatory trade association for the UK cryptocurrency industry. It is established to promote higher standards of conduct. All Crypto UK members subscribe to its principles and self-regulatory Code of Conduct
A few of the key principles are to:
- Encourage self-regulation to promote and enforce standards among the crypto community.
- Promote innovation in Fintech by allowing regulators to engage with the industry
- Apply securities laws to blockchain technologies before launch.
- Recognise that decentralisation is an important factor in making cryptocurrency a security.
The application of these principles should:
- Encourage a more transparent environment for consumers in financial products
- Allow the creation of technology platforms that enable financial freedom in cryptocurrencies
- Lead to freedom in personal data and digital technology.
CryptoUK association and Pillar share the same vision. We aspire to represent a standard that the industry should aim for.
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