Binance updates crypto rules in Poland to meet new MiCA requirements
Binance has revised its cryptocurrency deposit and withdrawal procedures in Poland to align with the EU's Markets in Crypto-Assets Regulation (MiCA), effective January 20. Users must provide detailed information for crypto deposits over 1,000 euros and all withdrawals, including sender and beneficiary details. Transactions may face delays if required information is missing. MiCA, enacted on December 30, 2024, aims to standardize regulations for crypto asset service providers (CASPs) and enhance consumer protection while addressing Anti-Money Laundering (AML) issues. Poland recognizes cryptocurrency activities, taxing crypto income at a flat rate of 19%. A draft Crypto Assets Market Act mandates Virtual Asset Service Providers (VASPs) transition to CASP licensing by June 30, 2025. Sławomir Mentzen, a presidential candidate, plans to promote Poland as a "cryptocurrency haven" if elected in 2025. Eastern Europe, including Poland, has seen a 40% year-over-year growth in decentralized finance (DeFi) activity, representing over 33% of global crypto inflows.
