Binance branch in Poland is now fully compliant with local regulatory standards for virtual asset service providers
Being fully compliant with local regulations, Binance now looks to expand its regional presence. Image: pexels
Binance Poland sp. z o.o. announced that it plans to enhance its presence in Poland, following the full regulatory compliance it acquired.
The Poland-based users of the crypto exchange should now sign new Terms and Conditions, updated with necessary requirements for a licensed virtual asset service provider. Poland has become the latest addition to a growing list of EU Member States where Binance has been granted legal registrations.
The company needed to adopt enhanced risk and AML policies to match EU exacting standards. Now Binance’s focus is “the successful user migration to the Polish entity and the development of local operations. We’re also prioritizing local recruitment and talent scouting to help us strengthen our regional presence, organizing more events and delivering crypto education in Poland,” said Katarzyna Wabik, Binance’s Country Manager for Poland.
Currently, the Binance Polish entity has already started looking for local personnel. Namely, the company has hosted a few job listings within compliance, finance, and operations.
Despite some objections against regulated crypto entities becoming centralised, Binance management believes crypto adoption remains at a low rate due to the lack of trust towards unlicensed crypto service providers.
Binance CEO Changpeng Zhao commonly known as “CZ” believes licences play an important part in crypto market development.
