Binance announced it had obtained full regulatory approval to operate in Poland, enhancing its local presence in the region. The license means Binance complies with the local regulatory standards for Virtual Asset Service Providers (VASP).
Binance Bags Operating License in Poland
The crypto exchange announced on its blog on January 18 that it had enhanced its local presence in Poland. The announcement means that users of Binance in the country are fully assured of full compliance with VASP regulations.
Polish users must sign new terms and conditions with Binance Poland as part of the agreement. This will enable them to continue using the exchange’s services in the country.
Polish residents will also benefit from the license. Binance plans to migrate users to Binance Poland and increase local recruitment and talent scouting. The exchange also plans on hosting events and providing crypto education in the country.
Binance Continues Push for Global Dominance
Binance has continued its agenda to facilitate proper regulation in the crypto industry. According to the company’s Head of Ukraine and Eastern Europe, Kyrylo Khomiakov, the exchange sees the need for “effective and appropriate regulation” in the industry.
Khomiakov noted that establishing trust in the industry is pivotal to crypto adoption. Ensuring that users are well protected and that their funds are well secured is a top priority for Binance, according to the executive. He also welcomed the initiative of the Polish government towards regulation and promised the company would continue to work with the country.
Binance started the year with a push for global dominance. Earlier in the month, Binance announced the acquisition of Voyager and struck a deal with Ukraine’s top pharmacy to enable Binance Pay.
Poland has now joined the company’s list of European countries where it is fully registered. Binance already has licenses in Italy, France, Spain, Cyprus, and three other countries.
Binance is also licensed in some Middle Eastern, African, and Asia-Pacific countries.
