Poland financial regulator warns about crypto Binance

The Polish Financial Supervision Authority (PFSA) published a statement on Binance’s growing regulatory issues around the world, stressing that the company’s operations are unregulated in Central European countries.

The crypto market is “neither regulated nor subject to supervision” 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:

“In 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.”

The PFSA’s statement comes shortly after Binance CEO Changpeng Zhao reiterated the company’s commitment to cooperating with global regulators in order to comply with financial market regulations.

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