Binance to increase presence in Poland in compliance with local regulations
The world’s largest crypto exchange and digital assets trading platform is expanding its presence in Poland and noting in an announcement that it calls for maintaining its commitment to complying with regulations for virtual assets service providers. This expansion in 2023 will be facilitated by the development of the company’s local body which is fully compliant with regulatory requirements. Additionally, in order to continue using the services of the platform, customers will be required to sign new terms and conditions with the crypto exchange expressing their consent. The subsidiary aims to fully comply with all kinds of standards for Virtual Assets Service Providers and integrate with it to adopt anti-risk and anti-money laundering policies, Katarzyna Wabik, Binance’s country manager for Poland, said on Wednesday. A published blog stated that their current focus is on successful user migration to the Polish unit and development of local operations. It aims to leverage its regional position even more and organize more events in Poland, prioritizing local and talent search to provide crypto education and at the same time establish its commitment to doing so.
Binance has already been looking to hire specialists for its Polish company and reports that vacancies currently exist in Compliance and Finance & Operations. According to Kyrylo Khomiakov, head of Ukraine and Eastern Europe at Binance, effective regulation is needed to establish a mainstream adoption of the industry and he elaborated that it will take a long time to establish trust in the industry. Growth requires a stable regulatory environment. The regional executive also said that the company welcomes the regulatory initiatives of the government in Warsaw, the capital of Poland, and also commented that the crypto exchange continues to improve its security system and provide additional facilities for Know Your Customer or KYC process. remains committed.
Poland is another European Union state where crypto exchanges have been registered or licensed, with a growing list such as France, Italy, Lithuania, Spain and Cyprus. Simultaneously, its latest regulatory approval was issued by Sweden’s Financial Supervisory Authority earlier this month.
