Cryptocurrency exchange Binance has expanded its presence in the European Union by registering its local subsidiary in Poland as a Virtual Asset Service Provider (VASP).
Binance Regional Manager for Poland Katarzyna Wabik said that the exchange is committed to full compliance with the regulatory requirements of Polish regulators, therefore, it will take the necessary efforts to reduce risks and combat money laundering. The platform continues to improve its security system and comply with the Know Your Customer (KYC) procedure. Therefore, in order to continue using the platform services, Polish customers must sign the new Terms and Conditions of the Binance Poland division.
Vabik said the marketplace is focusing on hiring local staff to bolster its regional footprint. Binance also plans to organize various events in Poland and launch educational seminars on the topic of cryptocurrencies. Jobs are currently open for Polish job seekers in the Finance, Operations, and Compliance departments of Binance.
Kirill Khomyakov, head of the Binance division in Ukraine and Eastern Europe, added that for the mass adoption of cryptocurrencies, the industry needs effective regulation. Oversight will help establish trust in the industry and contribute to its long-term development.
Last week, Binance announced its registration with the Swedish Financial Services Authority (FSA) as a virtual currency management and trading institution, allowing the exchange to legitimately provide local traders with an expanded range of services. In November, Binance received permission from Abu Dhabi regulators to provide custodial services.
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