Seven cryptocurrency companies in the UK created the first crypto-trading organization called Crypto UK. It included, among others, the Etoro trading platform and the Coinbase crypto-exchanger.
CryptoUK members have teamed up with "to improve industry standards and engage policymakers" following regulatory agencies' claims that the cryptocurrency market carries a "high risk".
The organization will promote best practices and convince the government and regulators in the prospects for using crypto technologies.
CryptoUK members will also adopt a code of conduct to increase transparency and security in their operations.