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Binance has unveiled plans to expand operations in Poland, another EU member state where the global cryptocurrency exchange is registered. The coin trading platform plans to expand its Polish entity, recruit local talent and launch educational initiatives.

Crypto Exchange Binance Moves Ahead With Plans To Expand Operations In Poland

Binance, the world’s largest digital asset trading platform, is strengthening its presence in Poland, noting in an announcement that it remains committed to complying with the country’s rules for Virtual Asset Service Providers (VASPs) .

Expansion in 2023 will be facilitated by the development of the local business entity that meets regulatory requirements. Polish customers will have to sign new terms and conditions with Binance Poland in order to continue using the services of the platform.

Subsidiary aims to fully comply with Polish standards for VASPs and will adopt risk and anti-money laundering policies to match them, Binance Country Manager for Poland Katarzyna Wabik said in an article. blog published on Wednesday.

“Our current focus is the successful migration of users to the Polish entity and the development of local operations. We are also prioritizing local recruitment and talent sourcing to help us build our regional presence, organize more events and provide crypto training in Poland,” she detailed.

Binance is already looking to hire specialists for its Polish company. Vacancies are currently available in compliance, finance, and operations, the exchange pointed out.

The crypto industry needs effective regulation to facilitate its adoption by the general public, according to Kyrylo Khomiakov, head of Binance for Ukraine and Eastern Europe. He explained that a stable regulatory environment is key to building trust in the industry and long-term growth.

The regional executive added that Binance welcomes the Warsaw government’s regulatory initiatives. He also noted that the crypto exchange continues to improve its security systems and follows strict know-your-customer (KYC) requirements.

Poland is another EU member state where Binance has obtained registration or licensing, with the growing list now including France, Italy, Lithuania, Spain, and Cyprus. Its last regulatory approval was Published by the Swedish Financial Supervisory Authority earlier this month.

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Why do you think Binance is seeking regulatory approvals in every EU member state? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a tech-savvy Eastern European journalist who loves Hitchens’ quote: “Being a writer is who I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image credits: Shutterstock, Pixabay, Wiki Commons

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