Crypto Exchange Binance Receives Regulatory License in Poland

  • Polish customers must agree to the company’s updated Terms and Conditions.
  • The Swedish Financial Supervisory Authority has granted regulatory permission.

Binance, the biggest cryptocurrency exchange in the world, has stated that its services in Poland now conform to all local regulations governing the provision of virtual asset service providers (VASPs). In order to keep utilizing Binance Poland’s services, Polish customers must agree to the company’s updated Terms and Conditions.

Binance announced the change in a blog post, saying that it wanted to provide its users with “the best and safest experience possible.” Moreover, Binance’s Head of Ukraine and Eastern Europe, Kyrylo Khomiakov, has claimed that in order to increase the mainstream use of cryptocurrencies, the industry must work together with global authorities.

Khomiakov added:

“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.”

Spreading All Across Europe

Binance’s Country Manager for Poland, Katarzyna Wabik, said that the exchange has introduced anti-money laundering procedures and conformed with all Polish regulations pertaining to VASPs. The Swedish Financial Supervisory Authority has granted the exchange regulatory permission after months of productive interaction.

Users in the region now have permission to access a wide range of products and services thanks to the license, including the ability to stake and trade cryptocurrencies, withdraw funds in euros, and buy and sell digital assets. Many other European countries, including France, Spain, Italy, Cyprus, and Lithuania, have given Binance the go-ahead in recent years.

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A devoted content writer having 3 years of crypto trading experience. Loves cooking and swimming. Stays up to date with the latest developments on blockchain technology.