Binance, the world's largest cryptocurrency exchange, has established a Polish entity to cater to clients in Belgium after the country's regulator ordered Binance to stop offering virtual currency services. The new entity will enable Binance to comply with its regulatory obligations and continue providing services to Belgian users.
Binance, founded in Shanghai in 2017 by Changpeng Zhao, has become a dominant player in the crypto industry but has faced increased scrutiny from regulators seeking to crack down on money-laundering. In June, US regulators sued Binance and Zhao for allegedly running a "web of deception," but Binance has vowed to defend itself.
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