World Crypto Global
- Written by: Tareq Sikder
- Mon, 13 May 2024
- Israel
CoinEx, a global cryptocurrency exchange, has recentlyannounced that it has obtained authorization as a Virtual Assets ServiceProvider (VASP) in Poland. This development is anticipated to strengthenCoinEx's standing within the European cryptocurrency market.VASP Authorization in Poland for the European CryptoMarketThis represents a stride in CoinEx's strategic expansionefforts within Europe. The company acknowledges the vast potential inherent inthe European cryptocurrency market and remains focused on furnishing a secureand user-friendly trading environment for investors and traders alike.Haipo Yang, CoinEx's CEO, commented:"Obtaining the VASP registration in Poland is a testament to ourunwavering dedication to providing a secure and regulated trading environmentfor our users. We are thrilled to expand our operations in Europe. Thisachievement reinforces our commitment to driving the global adoption ofcryptocurrencies and fostering the growth of the digital asset ecosystem."CoinEx has received VASP registration in Poland, marking a significant step in expanding its European presence. The move is set to enhance the exchange's credibility and increase market reach by May 2024. Markets News (@MarketsDotNews) May 13, 2024CoinEx, established in 2017, is a global cryptocurrencyexchange focused on facilitating trading with a variety of services for over 5million users across 200 countries and regions. The firm has listed over 1,000tokens and more than 1,400 trading pairs, enabling users to access a wide rangeof cryptocurrencies.Aligning with EU MiCA Regulation for CryptocurrencyMeanwhile, Poland's cryptocurrency market faces increasedoversight with the impendingadoption of the European Union's Markets in Crypto-Assets regulation intodomestic law, as reported by FinanceMagnates. The proposed legislation grants the Komisja NadzoruFinansowego new powers, including the ability to freeze cryptocurrency accountsfor up to 96 hours on suspicion of criminal activity, extendable to six monthswith prosecutorial consent. However, concerns arise among investors regardingthe lack of clarity surrounding the grounds for account freezes, potentiallyleading to uncertainty and misuse of regulatory authority.This article was written by Tareq Sikder at www.financemagnates.com.
