Poland puts Crypto.com’s operator on warning list

Poland’s financial regulator, the Polish Financial Supervision Authority (KNF), has added Crypto.com’s operator, Foris DAX MT, to its public warning list. The KNF alleges that Foris DAX MT provided financial services in Poland without the necessary authorization, specifically in the area of financial advisory. The case will be handled by the regional prosecutor’s office in Warsaw. This is the second regulatory challenge faced by Crypto.com in the European Union this year, following a $3.1 million fine imposed by the Dutch central bank in March for breaching local anti-money laundering and anti-terrorist financing laws. Poland has previously targeted other crypto firms, including BitBay, for similar reasons. Despite registering 100 million users globally in May, Crypto.com still trails behind competitors Coinbase and Binance in terms of user numbers.