Binance gains crypto regulatory licence in Poland

Binance has received approval from the Polish authorities to work as a virtual asset service provider.

The representatives of Binance said that the company wants to fully comply with the requirements of the Polish regulator. The main goal of the exchange has always been to provide its customers with the best services, as well as to ensure maximum safety. For this reason, the exchange will take the necessary anti-money laundering procedures and reduce risks.

Binance plans to develop its services in Poland. Polish users are required to sign new Terms and Conditions with Binance Poland in order to continue using the company’s services. Also, users need to follow strict KYC rules.

The exchange also aims to hire local employees in order to strengthen its regional presence. In addition, Binance will organise various crypto events and educational programs in Poland.

According to Kyrylo Khomiakov, Binance’s Head of Eastern Europe, effective regulation is required to boost mainstream adoption, since the proper environment will increase the confidence and contribute to the development of the industry. He also added that cooperation with regulators helps to introduce innovations and ensure the safety of the exchange’s clients.

Binance has already received a licence in several European countries, such as Sweden, Italy, Spain, France, Cyprus and Lithuania.

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