Binance has revealed intentions to expand its activities in Poland, another EU member state where the global cryptocurrency exchange is registered. The coin trading platform plans to develop its Polish entity, recruit local talent, and launch educational initiatives.
Crypto Exchange Binance Moves Forward With Plans To Expand Operations In Poland
Binance, the world’s largest digital asset trading platform, is enhancing its presence in Poland, noting in an announcement that it remains committed to complying with the country’s rules for virtual asset service providers (VASPs).
Expansion in 2023 will be facilitated by the development of the company’s local entity that adheres to regulatory requirements. Polish customers will have to sign new Terms and Conditions with Binance Poland to continue using the services of the platform.
The subsidiary aims for full compliance with Polish standards for VASPs and will adopt risk and anti-money laundering policies to match them, Binance country manager for Poland Katarzyna Wabik said in a blog post published Wednesday. .
“Our current focus is the successful migration of users to the Polish entity and the development of local operations. We are also prioritizing local recruitment and talent search to help us strengthen our regional presence, organizing more events and providing crypto education in Poland,” she detailed.
Binance is already looking to hire specialists for its Polish company. There are currently openings available in compliance, finance, and operations, the exchange noted.
The crypto industry needs effective regulation to help with widespread adoption, according to Binance’s director for Ukraine and Eastern Europe, Kyrylo Khomiakov. He explained that a stable regulatory environment is essential to establish confidence in the industry and long-term growth.
The regional executive added that Binance welcomes the government’s regulatory initiatives in Warsaw. He also commented that the crypto exchange continues to improve its security systems and follows strict know-your-customer (KYC) requirements.
Poland is another EU member state where Binance has been granted registration or license, and the growing list now includes France, Italy, Lithuania, Spain, and Cyprus. Its latest regulatory approval was issued by the Swedish Financial Supervisory Authority earlier this month.
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