Binance has announced its intention to expand its activities in Poland, another EU member state where the global cryptocurrency exchange is registered. The coin trading platform plans to develop its Polish entity, recruit local talent, and launch educational initiatives.
Crypto exchange Binance moves forward with plans to expand operations in Poland
Binance, the world’s largest digital asset trading platform, is strengthening its presence in Poland, noting in its announcement that it remains committed to complying with the country’s rules for virtual asset service providers (VASPs).
The expansion in 2023 will be facilitated by the development of the company’s local subsidiaries that will comply with regulatory requirements. Polish customers will be required to sign new Terms and Conditions withBinance Polandin order to continue using the services of the Binance Polandplatform.
Katarzyna Wabik, Binance’s country manager for Poland, said in a blog post published Wednesday that the subsidiary aims to be fully compliant with VASP’s Polish standards and will adopt risk and anti-money laundering policies commensurate The company stated.
“Our current focus is to successfully transition our users to the Polish entity and develop our local operations. We are also prioritizing local recruitment and talent scouting to strengthen our local presence, host more events, and provide crypto education in Poland,” she elaborates.
Binance is already seeking to hire specialists for the Polish company. Vacancies are currently available in compliance, finance, and operations, the exchange noted.
According to Kyrylo Khomiakov, head of Ukraine and Eastern Europe at Binance, the crypto industry needs effective regulation to support mainstream adoption. He elaborated that a stable regulatory environment is essential to establish confidence in the industry and its long-term growth.
The regional executive added that Binance welcomes the government’s regulatory initiative in Warsaw. He also said that the crypto exchange will continue to improve its security systems and follow strict Know Your Customer (KYC) requirements.
Poland is another EU member state where Binance is registered or licensed, with a growing list now including France, Italy, Lithuania, Spain, and Cyprus. Its latest regulatory authorization was issued earlier this month by the Swedish Financial Supervisory Authority.
Image credits: Shutterstock, Pixabay, Wiki Commons