Binance Announces Registration In Poland With Full Compliance – Crypto News – Crypto News
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Binance Announces Registration In Poland With Full Compliance – Crypto News

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Binance Poland NewsTop crypto exchanges Binance on Wednesday said it was improving its local presence in Poland while also announcing full regulatory compliance to local laws. The company said the Binance Poland entity will now operate in the capacity of a virtual asset service providers (VASPs). Also, in line with the compliance to Polish laws, the country’s users registered with Binance are set to sign new terms and conditions to be able to continue using the service.

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All For Regulatory Compliance

The company also stressed on its ongoing efforts to hire more staff for Binance Poland. The exchange is looking to strengthen its local presence by recruiting for various roles. Binance made the announcement in a blg that outlined its plans of operation in the coming future. The exchange’s plans to strengthen roots in Europe comes at a time when it faced vulnerable times in December 2022. After Binance faced criticism around lack of clarity about deposit customers, the exchange saw a set of customers withdrawing assets due to fear and uncertainty.

Katarzyna Wabik, a Binance Poland executive, said the company was currently focused on successful user migration to the Polish entity. This also goes along with strengthening of local operations, she said.

“We fully comply with Polish standards for VASPs and take this step to ensure that Binance Poland sp. z oo has adopted risk and AML policies to match these exacting standards.”

For Institutional Investments

The news comes following its announcement of plans to allow institutional investors to keep collateral for leveraged positions off of the crypto exchange. The plan would mean that institutional investors would have the ability to post collateral with Binance Custody. The latest measure from the top exchange could be seen as a move to attract institutional investments, which it was deprived of in recent weeks.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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