Binance Switches to Polish Subsidiary to Continue Services for Belgian Users

Fazzaco learned from Binance's latest press release that it announced it will provide crypto services to Belgian users through its Polish subsidiary, Binance Poland sp. z o.o. This move is aimed at complying with the local regulatory requirements and ensuring the continuity of its operations in Belgium.

According to the announcement, Belgian users will need to accept the Terms of Use of Binance Poland and may be asked to resubmit some of their KYC documents to meet the Polish standards. Binance Poland is registered as a virtual assets service provider (VASP) in Poland and can offer crypto exchange and custodian services.

Binance has been facing increased scrutiny from regulators around the world, who have expressed concerns over its compliance with anti-money laundering (AML) and consumer protection rules. Binance has stated that it is committed to working with regulators and adhering to the relevant laws in each jurisdiction.

In recent news​, Fazzaco covered that the world's largest crypto exchange has announced to stop offering debit cards in Latin America and Middle East on September 21, 2023.