Following a recent announcement about the formation of a self-regulating entity in the UK, the members of which are prominent cryptocurrency startups including Coinbase, Japan and Croatia joined the fray in a similar manner.
According to a report, the Japan Blockchain Association and the Cryptocurrency Business Association – two leading blockchain-related groups in Japan – are preparing for a possible merger in April of 2018.
The news is still unconfirmed, but the groups do say they're open to negotiation and merging. In April 2017, as Japan brought into action a new regulation about exchange licences, it was also decided that only a single group can be in charge of passing laws and rules about a given context.
Once this joint body is formed, it'll be responsible for bringing in new rules and regulations regarding its members, as well as penalties for broken newly established regulations.
After several months of planning, Croatia also joined the self-regulatory bandwagon but in a somewhat milder form.
UBIK, the Blockchain and Cryptocurrency Association, was registered on February 13th 2018 with the express purpose of gathering companies and individuals interested in blockchain technology under the umbrella of one entity capable of bringing new suggestions and important questions in front of government officials and regulators – from buying and selling, to charging customers in cryptocurrency, to crypto salary payouts, and more.
The Association's official goals are defined as:
- Creating a focused and strong community of people involved with blockchain technology and the domain of cryptocurrency in Croatia and the region.
- Providing relevant information, education and knowledge regarding blockchain technology, cryptocurrency mechanics and the whole crypto-economy.
- Providing legal, financial, and technological support in developing regulatory frameworks and strategic blockchain projects.
That said, Bitfalls, the leading blockchain and cryptocurrency web portal in the region, is pleased to announce our immediate active membership in UBIK starting Feburary 2018. We look forward to collaborating with other members in promoting, regulating, spreading adoption and fostering education of blockchain technology.
To Web 3.0, together!