Binance Launches New Entity in Poland to Resume Services in Belgium
Binance, one of the world’s leading cryptocurrency exchanges, has announced the launch of a new entity in Poland called Poland sp. z o.o. This move comes after the Belgian Financial Services and Markets Authority (FSMA) ordered Binance to stop offering its services in Belgium for violating compliance laws.
Here are the key points:
– Binance has created a new entity in Poland to continue serving Belgian residents.
– Belgian users will need to accept the terms of use of Binance Poland to continue using the platform.
– In order to comply with local regulations, customers may need to provide updated KYC information.
– Binance has been facing legal issues in the EU due to stricter regulation policies.
– The exchange has been pulling out of EU countries and faced investigations in France for alleged illegal activities and money laundering.
Binance’s expansion into Poland offers a solution for Belgian users who wish to continue using its services. However, the company’s recent legal troubles and withdrawals from EU countries raise concerns about its ability to navigate stricter regulations in the cryptocurrency industry.
Overall, Binance’s move to create a new entity in Poland may help address the recent ban in Belgium, but it raises questions about the company’s future operations in the EU and its ability to comply with regulatory requirements.
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