On the 18th of January 2023, Binance (the prominent crypto exchange) shared a blog post noting a new update. In the post, it disclosed the progress in its regulatory compliance as well as local development-related matters in the jurisdiction of Poland. The company disclosed its determination to expand its presence within the country in addition to enhancing its regulatory compliance.
Binance to Increases Its Regulatory Compliance in Polish Jurisdiction through Binance Poland
The platform noted that it has always been the preference of the cryptocurrency exchange to offer its consumers the finest as well as the securest experience. The platform asserted that it is providing services that are completely in line with the native regulatory norms set for virtual asset service providers (VASPs). As per the platform, Binance Poland (the Poland-based sub-branch of the crypto exchange) has made considerable efforts to make this come true.
Binance revealed its strategy for its activities in Poland’s jurisdiction for 2023. The company asserts that its Poland-based subsidiary will be used to carry out the respective operations. While doing this, it added, a lot of attention will be paid to the regulatory standards of Poland. As included in the respective procedure, the consumers require accepting the latest Terms and Conditions to operate with Binance Poland if they intend to keep on utilizing the services provided by the crypto exchange.
The head of Eastern Europe and Ukraine at Binance, Kyrylo Khomiakov, stated that the crypto market requires adequate and efficient regulation. In the words of the executive, this would assist in the digital assets’ mainstream adoption. Khomiakov added that they have strong confidence in the stable regulatory climate. According to the executive, this can back innovation along with being a fundamental part of enhancing trust across the industry as well as long-term growth.
Crypto Exchange Effective Obtains Registrations in Several EU States
Khomiakov mentioned that they welcome the endeavours taken by the authorities in Poland to improve regulation. The executive is of the view that the platform is collaborating with the regulatory bodies operating around the world. As Khomiakov puts it, the company can guarantee that its clients are protected.
He asserted that to maintain its security the crypto exchange is strictly abiding by the KYC requirements. Poland has become a part of the increasing list of states that are members of the European Union. Binance has been registered in several EU states including Sweden, Cyprus, Spain, Lithuania, Italy, and France.
