The biggest cryptocurrency exchange in the world, Binance, stated that its services are now fully comply with Polish regulatory norms for providers of services for virtual assets (VASPs).
To continue using the services offered by the company, Polish users must accept updated Terms and Conditions from Binance Poland.
Binance stated in a recent blog post that the change results from the platform’s desire to give users “the finest and safest experience possible.”
In order to increase widespread adoption, Kyrylo Khomiakov, Head of Ukraine and Eastern Europe at Binance, suggested that the cryptocurrency industry must work with international regulators.
“We welcome the initiatives of the Polish government towards regulation. Working together with regulators globally, we can ensure that consumers are protected while continuing to cultivate innovation and progress,” he added.
Katarzyna Wabik – Binance’s Country Manager for Poland – outlined that the trading venue has fully complied with all Polish standards for VASPs and adopted anti-money laundering policies.
She said the company monitors the Eastern European country for talent and is ready to expand its team. Binance has also started delivering crypto education programs and organizing events in the area.
The exchange recently secured regulatory approval from the Swedish Financial Supervisory Authority after “months of constructive engagement.”
The license allowed local users to access several products and services, including buying and selling digital assets with euro, making withdrawals against that fiat currency, staking, and trading.
Binance has received the green light from many other European nations over the past few years, such as France, Spain, Italy, Cyprus, and Lithuania.