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Title: [2018-06-29] Polish Bitcoin Association Challenges Banks Over Crypto Account Ref Post by: ivanpoldark on June 30, 2018, 08:27:09 AM An industry group in Poland is attempting to challenge banks that are allegedly refusing to provide services for firms associated with cryptocurrencies.
The Polish Bitcoin Association (PBS) has appealed to the Office of Competition and Consumer Protection (OCCP), requesting that the antitrust authority start investigating the alleged restriction of competition. It filed a letter with the OCCP on June 26, the industry group announced. A memo seen by Finance Magnates reportedly shows the PBS has criticized 15 financial institutions for denying 52 entities' bank account applications and closing bank accounts of 25 entities. MBank, the nation's fourth-largest banking group in terms of assets and loans, allegedly made nine refusals and closed three accounts, according to the complaint. It's not yet clear whether the OCCP has agreed to look into the case. Although Poland has made previous attempts to regulate the local cryptocurrency industry, it hasn't officially established rules around cryptocurrency exchanges, except for a draft law against criminal activities like money laundering. The country's Financial Ombudsman, Aleksandra Wiktorow, called on the country's Ministry of Finance to regulate the local cryptocurrency industry early last year, but she said at the time that any regulation "should not be excessive," as CoinDesk reported. https://www.coindesk.com/polish-bitcoin-association-challenges-banks-over-crypto-account-refusals/ Title: Re: [2018-06-29] Polish Bitcoin Association Challenges Banks Over Crypto Account Ref Post by: jjacob on July 01, 2018, 08:08:48 AM This is strange. I thought that the rules will be harmonized across the EU.
There are some companies like CoinFloor from the UK who used polish banks because they were more receptive to cryptocurrency transactions. So it does seem strange that Polish banks are closing down accounts. Title: Re: [2018-06-29] Polish Bitcoin Association Challenges Banks Over Crypto Account Ref Post by: Proton2233 on July 01, 2018, 11:21:09 AM This is strange. I thought that the rules will be harmonized across the EU. There is nothing surprising in this. Banks are active opponents of cryptocurrencies. Maybe not all of them make public statements about it but they definitely do not want to promote their competitors. There are many formal pretexts to prevent the development of the use of cryptocurrencies and banks use them.There are some companies like CoinFloor from the UK who used polish banks because they were more receptive to cryptocurrency transactions. So it does seem strange that Polish banks are closing down accounts. |