The European Cryptoasset Trade Associate is the European trade body for cryptoasset businesses.
We believe that cryptocurrency has the opportunity to be considered seriously and alongside conventional fiat currencies. However, in order to achieve this and for cryptoassets and their providers to flourish and achieve their potential, concerns must be addressed. In order to establish trust and confidence among all stakeholders in cryptoassets, certain concerns must be addressed. We aim to do this and represent the European Cryptoasset community.
A major concern concerning cryptoasset providers is the ability to tackle money laundering and meet regulatory and legal rules concerning anti-money laundering and countering terrorist financing. This issue was highlighted recently by the UK's financial regulator, the Financial Conduct Authority (FCA), who amongst other European regulators, expressed their concerns about the illicit use of crypto. Furthermore, they expressed that cryptoasset businesses were not meeting AML rules. Out of some 200 firms who sought AML registration with the FCA, only 5 achieved registration, whilst the majority of firms withdrew their applications. This indicates that most cryptoasset firms do not have in place the required governance and internal controls to adequately address, manage and mitigate their risks, particularly those relating to money laundering. We aim to change this by helping cryptoasset business build strong internal controls, processes and framework and meet regulatory and legal requirements. We feel that this is required for the cryptoasset sector to flourish and build trust and confidence in all stakeholders, including regulators, banks, and customers.
We bring together people, companies, regulators, and financial institutions to realise the positive outcomes of cryptoasset technology. We create a network of innovation and collaboration between cryptoasset businesses, regulators, banks, financial institutions and governments across Europe to realise the potential of cryptoasset for people, society and the economy.
Our Chief Executive - Harry Khan
Harry has a background in law and over 15 years of experience in payments, e-money and cryptocurrency.
Harry is the Chief Executive of Buckingham Capital Consulting, which he founded in 2013. Buckingham Capital Consulting is a leading European payment, cryptoasset and e-money licensing, consulting and compliance firm.