Binance Will Tighten Cryptocurrency Deposit and Withdrawal Procedures for Poland

The Bitcoin exchange Binance has warned users in Poland about changes to the processes for depositing and withdrawing cryptocurrency. According to the announcement, starting January 20, clients will need to provide their full name, country, and exchange name (if applicable) during the following transactions: For deposits over €1,000 — sender information; For withdrawals of any amount — recipient information. Binance representatives explained that these changes are driven by the implementation of the EU regulation on digital assets (MiCA) and only affect cryptocurrency transfers. In December 2024, Bybit announced it would cease all services in France due to stricter licensing requirements. Previously, Coinbase warned about limiting access to stablecoins that do not comply with MiCAand suspending rewards payouts for USDC holders in the EU. Notably, Tether CEO Paolo Ardoino stated that MiCA creates ”systemic risk” for stablecoins and the banking system. MakerDAO founder Rune Christensen believes this will also impact DeFi.