Cryptocurrency exchange Binance announced plans on Jan. 18 to enhance its local presence in Poland while remaining compliant with local regulations.
Binance Poland sp. z o.o., Binance’s Polish entity, will adhere to Polish regulatory standards for virtual asset service providers (VASPs), which requires Polish users to sign new terms and conditions with Binance Poland, in order to continue using the company's services.
Witam, Poland #Binance is fully compliant with Polish regulatory standards for virtual asset service providers (VASPs).This registration enables #Binance to provide crypto asset exchange and custody services in the country.Kyrylo Khomiakov, Binance's Head of Ukraine and Eastern Europe, stated that the company believes that effective regulation is necessary for the mainstream adoption of digital assets.
He also emphasized Binance's commitment to security and strict adherence to know-your-customer (KYC) requirements. Khomiakov shared: Binance's Country Manager for Poland, Katarzyna Wabik, also noted that the company is fully compliant with Polish standards for VASPs and that the company is focusing on successfully migrating users to the Polish entity, developing local operations, and recruiting local talent.Related: Binance to let institutions store crypto with cold custodyBinance now has regulatory approval in several EU member states including France, Italy, Lithuania, Spain, Cyprus, Sweden, and now, Poland.Read more on cointelegraph.com