Binance Now Fully Regulated as a Virtual Asset Service Provider in Poland

Binance announced that it's enhancing its local presence in Poland, alongside a continued commitment to full regulatory compliance. The company said that its Polish entity, Binance Poland sp. z o.o., is fully compliant with local regulatory standards for virtual asset service providers (VASPs).

Binance's plans for its operations in Poland in 2023 build upon Binance Poland sp. z o.o. local development, and its strict adherence to Polish regulatory standards. As part of this process, Polish users are to sign new Terms and Conditions with Binance Poland sp. z o.o. in order to continue using Binance's services.

Kyrylo Khomiakov, Binance's Head of Ukraine and Eastern Europe, said: "The crypto industry needs effective and appropriate regulation to help with mainstream adoption of digital assets. We strongly believe that a stable regulatory environment can support innovation and is essential to establishing trust in the industry and long-term growth."

"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. And we at Binance continue improving our security systems and following the strictest KYC requirements in the industry, which enhances the safety of all our users."

Poland has joined a growing list of the EU Member States where Binance has been granted registrations, following France, Italy, Lithuania, Spain, Cyprus, and Sweden.

"We fully comply with Polish standards for VASPs and make this step to ensure that Binance Poland sp. z o.o. has adopted risk and AML policies to match these exacting standards," Katarzyna Wabik, Binance's Country Manager for Poland, added. "Our current 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."