The world’s largest cryptocurrency exchange – Binance – announced its services in Poland are now fully compliant with domestic regulatory standards for virtual asset service providers (VASPs).
Polish users are required to sign new Terms and Conditions with Binance Poland to continue using the company’s products.
- In a recent blog post, Binance said the update comes as a result of the platform’s intention to provide customers with “the best and safest experience possible.”
- Kyrylo Khomiakov – Binance’s Head of Ukraine and Eastern Europe – argued that the cryptocurrency sector needs to cooperate with global regulators to boost mainstream adoption.
“We welcome the initiatives of the Polish government towards regulation. Working together with regulators globally, we can ensure that consumers are protected while continuing to cultivate innovation and progress,” he added.
- Katarzyna Wabik – Binance’s Country Manager for Poland – outlined that the trading venue has fully complied with all Polish standards for VASPs and adopted anti-money laundering policies.
- She said the company monitors the Eastern European country for talent and is ready to expand its team. Binance has also started delivering crypto education programs and organizing events in the area.
- The exchange recently secured regulatory approval from the Swedish Financial Supervisory Authority after “months of constructive engagement.”
- The license allowed local users to access several products and services, including buying and selling digital assets with euro, making withdrawals against that fiat currency, staking, and trading.
- Binance has received the green light from many other European nations over the past few years, such as France, Spain, Italy, Cyprus, and Lithuania.