The Polish Financial Supervisory Authority (PFSA) has given warned of Binance as the exchange is under intense scrutiny by regulators around the world, and stressed that its operations are not regulated in central European countries.

The regulator found that the crypto market is “neither regulated nor regulated” by the PFSA and warned the public of the risks associated with trading on Binance due to the growing response from global exchange regulators.

“In order to protect financial market participants and to warn against foreign supervisory authorities, the PFSA office recommends particular caution when using the services of companies of the Binance group and electronic trading in cryptocurrencies, as this harbors a considerable risk that could result from it . “In loss of funds.”

The PFSA mentioned several warnings against Binance by global regulators, including the German Federal Financial Supervisory Authority, the UK Financial Supervisory Authority, the Cayman Islands Monetary Authority, and the Securities and Exchange Commission of Thailand. How Bitcoin magazine As previously reported, Binance is subject to regulatory investigations and reviews in countries such as Canada, Japan, the United States and Singapore.

The PFSA statement comes shortly after Binance CEO Changpeng Zhao (CZ) reaffirmed the company’s commitment to work with global regulators to comply with financial market regulations. The CEO stated that there is still a lot of regulatory uncertainty surrounding cryptocurrencies, but welcomes more regulation as he believes it is “positive signs that an industry is maturing”.

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According to Cointelegraph

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