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Highlights
- Hedera (HBAR) announces membership in the UK Cryptoasset Business Council (UKCBC) alongside Ripple & Coinbase.
- The announcement signifies Hedera's commitment to fostering innovation and growth in the UK's crypto ecosystem.
- UKCBC focuses on supporting users, investors, and businesses while advocating for innovation.
Hedera (HBAR) has made a noteworthy entry into the cryptocurrency arena by joining the UK Cryptoasset Business Council (UKCBC). This move, highlighted in a recent Hedera post, demonstrates the platform’s dedication to nurturing innovation and development in the UK’s crypto landscape, alongside industry leaders such as Ripple and Coinbase.
Hedera Joins UKCBC
In a recent X post, Hedera (HBAR) has announced to join the UK Cryptoasset Business Council (UKCBC) alongside key players from the blockchain industry. Notably, Hedera’s integration into the UKCBC marks a pivotal moment for the platform, aligning it with key players in the Web3 space.
Meanwhile, through its membership, Hedera shows optimism to join esteemed institutions like Coinbase, Ripple, Archax, and Uniswap Labs in a collective effort to drive innovation and advance the adoption of decentralized technologies in the UK.
Besides, Hedera expressed excitement about joining the UKCBC, emphasizing its dedication to fostering Web3 innovation and growth within the region. This move not only amplifies Hedera’s presence but also signifies its commitment to collaborative efforts aimed at shaping clear and effective regulatory frameworks for the crypto industry.
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A Closer Look Into UKCBC
The UK Cryptoasset Business Council (UKCBC) serves as a pivotal platform within the UK’s crypto ecosystem. According to its website, it primarily focuses on supporting users, investors, and businesses while advocating for innovation and consumer protection through informed policy decisions.
In addition, committed to promoting collaboration and best practices, UKCBC boasts a roster of prominent industry players, including Moonpay, Kraken, Chainalysis, and more. This diverse membership base, which now includes Hedera, Ripple, and Coinbase, underscores the council’s influence in shaping the future of crypto regulation and fostering trust and sustainability within the industry.
However, despite the positive announcement, the Hedera price traded near the flatline over the last 24 hours at $0.1114. Its trading volume fell 19% in the same time frame to $71.12 million. Notably, the HBAR price slipped about 5% in the last seven days, while noting a monthly surge of around 6%.
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