Currency.com joins the Blockchain and Virtual Currencies Working Group

By Anastasia Chigir

Currency.com has become an official member of the European Blockchain and Virtual Currencies Working Group (BVC WG) with the aim to make the cryptocurrency market a more credible, safe and stable space to operate in.

Currency.com joins the Blockchain and Virtual Currencies Working Group                                 

Currency.com has become an official member of the European Blockchain and Virtual Currencies Working Group (BVC WG) with the aim to make the cryptocurrency market a more credible, safe and stable space to operate in.

Currency.com attained membership of the BVC WG, and sits among other top crypto market players who are members, including Bitstamp, Cex.io, bitFlyer and many others. 

The new partnership with the Blockchain and Virtual Currencies Working Group adheres to Currency.com’s principle of “safety first”. We support the BVC WG’s major aim to foster an industry-led conversation with European regulators, to add more transparency and credibility within the crypto environment and make it truly transparent and effectively regulated.

“Common efforts and expertise sharing is vital for any nascent industry. At Currency.com we are proud to become a part of the Working Group, a platform for open discussion and EU recognised think tank since 2014. The products and services we develop and offer either already in scope of the EU regulation, or soon will be covered by the Market in Crypto Assets Regulations and other legislative initiatives, and the Working Group provides us and its other Members to actively assist in forming and sharpening such initiatives to market needs”, commented Serhii Mokhniev, Head of Compliance at Currency.com.

European Blockchain and Virtual Currencies Working Group (WG) recap

WG major goals

The Working Group is a group of industry representatives who collaborate with a mutual goal to make the cryptocurrency sector a more stable and credible space. They make it happen with the help of industry leaders who meet during structured sittings and discuss the latest crypto industry-related news and the latest regulatory developments and achievements. 

The BVC WG is engaged with the European Commission, the European Central Bank, the European Parliament and the European Presidency of the Union and other higher European authorities in terms of AML policy. The group has a mutual goal to track the upcoming crypto regulations and advice internally on EU matters. 

The BVC WG is a member of the PSMEG – the European Commission Payment Systems Market Expert Group, which assists the European Commission in preparing policy initiatives or legislative acts, regarding payment systems and prevention of fraud.

The Group’s operation can increase the credibility of the crypto industry and boost customer confidence.

Currency.com recap

Currency.com takes its regulatory obligations seriously and has compiled policies and producers that enable the firm to operate in a compliant and ethical manner, adhering to strict standards and code of conduct, while creating a culture of compliance within the Group.

As a popular award-winning cryptocurrency exchange, Currency.com has a clear vision about the future prospects of the crypto industry and possible regulations that are needed to ensure a more sustainable future for the crypto sector. 

Working together with the industry leaders and other crypto market players is a major step forward to building effective regulation, which will allow for a level playing field and more customer confidence. In partnership with the BVC WG, we hope to solve the major regulatory challenges and make the crypto sector a better place for every diligent market participant.

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