On Wednesday 15 May 2024, local non-profit organisation LëtzBlock announced that it is "repositioning to bring together crypto professionals under a unified framework".

Announcing this news, LëtzBlock noted its goal of becoming "the professional association, and one common voice" for the crypto industry in Luxembourg.

LëtzBlock added that it has committed itself to providing a structured platform where professionals can share knowledge, best practices and insights to improve the crypto industry. The association aims to "federate, represent and give a voice" to Web 3 and crypto professionals who are "spearheading innovation" across various sectors of the economy in Luxembourg and Europe.

It listed its three main missions as follows:

- Growth & Advocacy: Promote industry growth and support stakeholders in Luxembourg through enhanced dialogue and advocacy with Luxembourgish and European authorities;

- Legal clarity: Strengthen the Luxembourg legal framework, including regulations, taxation and corporate law, to provide a more robust environment for the industry;

- Attractiveness of Luxembourg: Showcase crypto professionals who position Luxembourg as a dependable hub for both B2B and B2C sectors.

LëtzBlock said it also aims to establish a framework that "encourages open dialogue, fosters collaboration and advances industry standards to ensure the integrity and sustainability" of the crypto market in Luxembourg and further afield. By providing a structured environment for professionals to engage with one another, LëtzBlock seeks to "promote trust, accountability and innovation" within the industry.

The following 24 companies / organisations are members of LëtzBlock, which "operates for and by its members as a democratic association, where each active member possesses an equal voice at the association's general meetings": 6 Monks (6M); AkamdemIA; B2C2; Bitstamp; bitFlyer; ComptaCrypto; Dfinity Foundation - ICP; Deloitte Luxembourg; Deskoin; Homsy Legal; Ernst & Young; Fireblocks; Opportunity Financial Services; Green Earth Agro; Koffy.Finance; Olky Group; Swissquote Bank; Seqlense; Sygnum Bank; Scorechain; Solidus Labs; The Dots; Tazapay; Zodia Custody.

Crypto professionals interested in learning more about LëtzBlock can visit the website https://www.letzblock.com/.

Biba Homsy, President of LëtzBlock and founder of Homsy Legal, described the move as "a significant step for the professionals in the crypto ecosystem in Luxembourg or for those who whish to better understanding Luxembourg and European markets". She added: "Luxembourg has a lots to offer when it comes to crypto activities for professionals, for alternative investments funds [...] or payment services using crypto-assets as a product."