"Perhaps this is one way Binance wants to rebuild its company?"

In addition to expanding its services in Poland by operating in a virtual asset service provider (VASP), cryptocurrency exchange giant Binance implements full regulatory compliance with local laws.

As a result, users who are already registered with Binance must sign the new terms and conditions if they want to use the company's services again.

It is reported that Binance is making every effort to hire more employees for operations in Poland, where its team intends to further strengthen their local presence by creating a variety of jobs.

The company also made a statement in its official blog in December 2022 that it plans to further develop Binance services in Europe.

But his aim failed as investors flocked to withdraw their digital assets from Binance after the company faced heavy criticism for not providing clear explanations of customer deposits.

According to Katarzyna Wabik, the Executive of Binance Poland said that the company during this period will give more priority to its users who are in Poland as part of its efforts to strengthen local operations.

In addition, the implementation of VASP mentioned above is a move by Binance to apply risk and money laundering prevention policies.

Pleased to note that the statement was released at a time when Binance was looking to allow institutional investors to post collateral with Binance Custody.