{"id":293748,"date":"2021-07-08T12:42:09","date_gmt":"2021-07-08T09:42:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/poland-financial-regulator-issues-public-warning-about-binance\/"},"modified":"2021-07-08T12:42:09","modified_gmt":"2021-07-08T09:42:09","slug":"poland-financial-regulator-issues-public-warning-about-binance","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/poland-financial-regulator-issues-public-warning-about-binance\/","title":{"rendered":"# Poland financial regulator issues public warning about Binance"},"content":{"rendered":"

“# Poland financial regulator issues public warning about Binance <\/strong>”
\n<\/p>\n

As Binance faces scrutiny from regulators around the globe, Poland’s finance watchdog has issued a consumer warning about the cryptocurrency exchange.<\/p>\n

On Wednesday, the Polish Financial Supervision Authority (PFSA)\u00a0published<\/a>\u00a0a statement on Binance\u2019s growing regulatory issues around the world, stressing that the company\u2019s operations are not regulated in Central European country.\u00a0<\/p>\n

The crypto market is \u201cneither regulated nor subject to supervision\u201d by the PFSA, the regulator noted, cautioning the public about the risks associated with trading on Binance given the growing pushback to the exchange from global financial regulators, stating:<\/p>\n

\u201cIn line with the protection of financial market participants and warnings of foreign supervisory authorities, the PFSA office recommends exercising special caution when using services of Binance group entities and trading cryptocurrencies, as it may involve a significant risk that may result in the loss of funds.\u201d<\/p><\/blockquote>\n

The PFSA mentioned several regulatory warnings against Binance by global regulators, including those issued by the\u00a0German Federal Financial Supervisory Authority, the United Kingdom\u2019s Financial Conduct Authority, the Cayman Islands Monetary Authority, as well as the Securities and Exchange Commission of Thailand. As previously reported, Binance is subject to regulatory investigations and reviews in countries like Canada, Japan, the United States and Singapore.<\/p>\n

Additionally, the PFSA referred to its January warning on the general<\/a> risks of investing in cryptocurrencies like Bitcoin (BTC),\u00a0stating<\/a> that the crypto market is not regulated in Poland.<\/p>\n

Related: <\/em><\/strong>Binance suspends euro bank transfers amid regulatory heat<\/em><\/strong><\/p>\n

The PFSA and Binance did not immedia<\/a>tely respond to Cointelegraph\u2019s request for comment.<\/p>\n

The PFSA\u2019s statement comes shortly after Binance CEO Changpeng Zhao reiterated the company\u2019s commitment to cooperating with global regulators in order to comply with financial market regulations. The CEO stated that there is still a lot of regulatory uncertainty around crypto, but welcomed more regulations as they are, in his view, \u201cpositive signs that an industry is maturing.\u201d<\/p>\n