JAKARTA - The world's largest crypto exchange platform, Binance, announced important changes in crypto deposit and withdrawal procedures for its users in Poland. Starting January 20, 2025, Binance will implement stricter rules, following developments in EU regulations related to crypto asset transactions.
The main change imposed is the mandatory two-stage verification for each transaction. Users in Poland and Belgium will immediately feel the impact, where they are required to provide more detailed information for deposits that exceed 1,000 euros (around Rp. 16,800,000). The information requested includes the full name of the sender, the country of residence, and the name of the home crypto exchange.
Meanwhile, for withdrawals, users are required to include the full name of the recipient, the residential country, and the name of the exchange if relevant. This change aims to prevent illegal acts such as money laundering and fraud. Binance also reminded that failure to meet these requirements could cause delays or cancellations of transactions, with funds to be returned to the sender in case of a problem.
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Binance's new policy is part of the implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation which took effect in December 2024. MiCA aims to unify crypto rules in the region, focusing on transparency, security, and the prevention of money laundering.
In addition, Binance is also facing legal problems in the United States. In 2023, Binance.US was forced to suspend transaction services in the US dollar due to a number of cases, including allegations of breach of securities law. However, the company remains optimistic about plans to restore USD services by 2025.
The company also achieved great achievements in 2024, with more than 250 million registered users. Binance Labs, Binance's investment arm, has invested in 46 projects including DeFi, artificial intelligence (AI), as well as new technologies such as DeSci and zero-knowledge (ZK) innovation.
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