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The Polish Financial Supervision Authority has added four new entities to the public warning list, including operator of Crypto.com.
Crypto.com‘s Maltese operator Foris DAX MT has been placed on the Polish Financial Supervision Authority — also known as KNF — alert list after allegedly providing financial services in Poland without the required authorization.
The listing, made on Nov. 6, follows allegations that Foris DAX MT violated local rules, specifically in areas of financial advisory, per the list’s description. The case will be handled by the regional prosecutor’s office in Warsaw.
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As of press time, Crypto.com made no public statements on the matter.
For Crypto.com, this appears to be the second regulatory challenge in the European Union this year. In March, the Dutch central bank — De Nederlandsche Bank — imposed a $3.1 million fine on Foris DAX MT, citing breaches of local anti-money laundering and anti-terrorist financing laws. At the time, a Crypto.com spokesperson voiced disappointment over the penalty, asserting that the company had already resolved the issue.
Poland has previously also targeted other crypto firms for the same reasons. Its warning list includes BitBay, now operating as Zonda, one of Poland’s largest exchanges, listed amid suspicions of criminal activity.
In May, Crypto.com registered 100 million users around the globe, doubling down on its international expansion. Nonetheless, the exchange still trails behind its main competitors: Coinbase and Binance, which boast over 110 million and more than 170 million users respectively.
Read more: South African crypto exchange VALR picks Poland for expansion in Europe
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