The largest crypto exchange by transactions volume, Binance has just made another major announcement in regard to its expansion.
The officials made an announcement on January 18 pertaining to increasing their influence and network in other parts of the world.
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As per the latest announcement, the exchange is planning to expand its services in Poland. The officials have communicated that they will be operating as a legal and regulated entity in Poland.
The exchange wants to stay fully compliant with the regulatory guidelines and does not desire to violate the provisions.
Binance Poland is Fully Regulated
The Binance executives were glad to reveal that Binance Poland has been granted regulatory approval to operate in the country.
The approval means that the regulatory authorities in Poland understand that the exchange will act like the rest of the VASPs. It will be fully regulated and it will adhere to all the regulations laid out by the Polish regulators.
The exchange is also to adopt the signing up and service provisioning standards when providing services to Polish users. The exchange cannot deviate from that and has to do things by the book.
Polish regulators are very strict in dealing with cryptocurrencies. Therefore, they deal with things in the most aggressive manner.
The exchange has to ensure it is strictly making the users follow the terms and conditions as they become part of it. Even the users will have to agree with the new terms and conditions if they wish to continue using the services and products offered through Binance Poland.
Exchange Can Offer Crypto Assets
In the announcement, the exchange confirmed that with the approval of the regulators, they can offer so much to the users in Poland.
They will be able to offer cryptocurrency custody services to Polish users and they will be able to offer them a cryptocurrency asset exchange facility.
Comments by Kyrylo Khomiakov
The head of Easter Europe and Ukraine for Binance made a statement following the announcement of receiving approval from the Polish regulators.
He talked about the significance of having regulatory approval to operate in any jurisdiction. As per him, having regulatory approval and a regulated status is extremely important if an entity wants to gain prominence.
Most importantly, having a regulated status grants an entity access to mainstream markets and clients. Binance has always strived to bring crypto assets and services to the mainstream industry.
They are glad that they are playing a key role in bringing crypto assets and services to the mainstream industry by acquiring regulatory approvals.
He also talked about the seriousness of the Binance brand when it comes to security and adherence.
He added that their brand has been operating for more than half a decade and they know what importance the security aspect holds.
Hackers are always on the lookout to hack or exploit any protocols, especially the protocols in the crypto-blockchain industry.
However, their brand has hardly suffered from any of them. This is because they are always very careful and dedicated to providing the best security and protection to their users.
They are doing the same when it comes to adherence to regulatory policies. Whether it is the KYC policies or the AML policies, their adherence to these policies is unmatched.
Polish Talent Acquisition is on the Rise
Katarzyna Wabik, the country manager for Poland at Binance has revealed that their aim is to make things favorable for the users.
This is the reason why they are migrating the users from other Binance platforms from neighboring countries of Poland to the Polish brand.
This way, they will be operating in a regulated environment and they will enjoy the services and facilities in such an environment.
Binance is constantly increasing its control over the European crypto market. It has acquired regulatory approvals in multiple European countries.
These countries include Sweden, Cyprus, Spain, Lithuania, Italy, France, and now, Poland is addition to the list.