Binance Tightens Cryptocurrency Controls for Polish Users
Date: 2025-01-20 Author: Gabriel Deangelo Categories: BUSINESS
Changes to deposit and withdrawal procedures are coming into effect for Polish clients of the Binance cryptocurrency platform. Now, users must provide:
Full name, country, and exchange name (if applicable) when depositing over €1,000.
Recipient information when withdrawing funds of any amount.
These measures are aimed at complying with the new European Union MiCA rules on digital assets and apply exclusively to cryptocurrency transfers.
Such changes make it difficult for crypto companies to operate in Europe. For example, in December 2024, Bybit completely stopped providing services in France, citing stricter licensing requirements.
Coinbase also warned of an upcoming restriction on access to stablecoins that do not comply with MiCA and a suspension of rewards for USDC holders in EU countries.
Criticism of the MiCA regulations has also come from major crypto market players. Tether CEO Paolo Ardoino called the rules a “systemic risk” for banks and stablecoins, while MakerDAO founder Rune Christensen expressed the opinion that they will also negatively affect DeFi.
Binance's new rules indicate further tightening of control over cryptocurrency transactions in Europe.
