[2018-06-08] Poland affirmed that cryptocurrency trading is legal in the country

[Thadeous]

Polish Financial Authority Says Crypto Trading Is Legal in Wake of Anti-Crypto Campaign

The financial watchdog of Poland has recently affirmed that cryptocurrency trading is completely legal in the country, according to an official announcement published on its website June 6.

In its recent move, the Polish Financial Oversight Commission (KNF) sought to clarify the status of cryptocurrencies and crypto trading, “recognizing the emerging legal doubts related to the functioning of exchanges and exchange offices.”

The Commission’s notice comes following the country’s ongoing orchestrated campaign against cryptocurrency use in the country.

In their most recent statement, the KNF said that entrepreneurs are not banned from crypto trading since there are “no regulations prohibiting trading [...] of cryptocurrencies.”

However, the financial authority noted that the government is focused on the development of regulatory framework for the market to prevent it from risks sometimes associated with crypto, such as money laundering, tax evasion, and terrorist financing.

The KNF mentioned that it is planning to introduce a regulatory system for Bitcoin (BTC) and altcoins that will be officially launched on July 13, 2018.

Last month, the KNF announced plans to conduct a social media campaign on the risks of crypto investments.  Earlier, in mid-February, Poland’s Central Bank admitted that they had secretly funded a $27,000 anti-crypto campaign consisting of one YouTube video about a man losing all his money after investing in cryptocurrencies.

Source: https://cointelegraph.com/news/polish-financial-authority-says-crypto-trading-is-legal-in-wake-of-anti-crypto-campaign

[SectorZero]

Of course, it is not clear what they are going to come up with. As I see from the experience of other countries-it's all words and no one gets to the point. Well, we are waiting for all that will take the Polish government. Want of course a positive outcome of events, but I do not believe it. And Yes, the terms will be stretched to the maximum too.

[davis196]

This situation in Poland regarding cryptocurrency trading is similar to 98% of the countries in the world.
It can be summarised in one sentence:"Cryptocurrency trading isn`t prohibited,BUT DON`T DO IT!"
It`s kinda like smoking and drinking alcohol.You are allowed to do it,but just don`t do it.

[Slow death]

no offense but they are a real joke.

first we have this:

Polish Financial Authority Says Crypto Trading Is Legal in Wake of Anti-Crypto Campaign

if anyone reading this can even be very happy and celebrate, but then see this:

The Commission’s notice comes following the country’s ongoing orchestrated campaign against cryptocurrency use in the country.

In their most recent statement, the KNF said that entrepreneurs are not banned from crypto trading since there are “no regulations prohibiting trading [...] of cryptocurrencies.”

So what should people do? to use bitcoin or not to use bitcoin? these guys really are a big joke

[felixesteban]

Poland's name was previously mentioned with prohibitions, and it was also said to bring a very high rate of taxation. Now it is stated that the entire Crypto trade is free and legal. If this is true, it is a very positive development and so promising for future. I hope such good developments will be reflected in other countries.

[senin]

Poland's name was previously mentioned with prohibitions, and it was also said to bring a very high rate of taxation. Now it is stated that the entire Crypto trade is free and legal. If this is true, it is a very positive development and so promising for future. I hope such good developments will be reflected in other countries.

Earlier there was information that the tax authorities of Poland ordered users of crypto currency to fill out a separate document for each committed transaction for filing with the tax authorities, in connection with which people went out with protests for the building of tax authorities. If this happens, then the formal permission to deal with the crypto currency will not cost anything.

[Gothorum]

From Poland are seeing very different and controversial opinions, I would not take into account the information until it comes from official sources, as soon as you read that they will allow everything, as well as nothing.

[Thadeous]

Poland joins the list of countries launching national cryptocurrencies

After Belarus, Estonia and a number of other countries, Poland has also decided to hop on to the cryptocurrency hype train. The European country has decided to launch a digital token that is pegged to its national currency. Researchers hope that this will pave way for a faster and securer digital alternative of their fiat currency. In order to be able to successfully launch the digital coin, the researchers and development will have to gain the approval of the government.

Source: https://www.cointelligence.com/content/poland-joins-list-countries-launching-national-cryptocurrencies

[darkangel11]

However, the financial authority noted that the government is focused on the development of regulatory framework for the market to prevent it from risks sometimes associated with crypto, such as money laundering, tax evasion, and terrorist financing.

The KNF mentioned that it is planning to introduce a regulatory system for Bitcoin (BTC) and altcoins that will be officially launched on July 13, 2018.

There's nobody left to regulate. Following their attack on exchanges where they demanded them to share all private data of their clients along with their private BTC addresses and asked everyone to pay additional 1% tax per transaction (!), all major crypto exchanges fled the country. I doubt with such moronic laws any large business owners will try their luck in Poland, especially with Germany, Switzerland and Malta just around the corner.

[Thadeous]

However, the financial authority noted that the government is focused on the development of regulatory framework for the market to prevent it from risks sometimes associated with crypto, such as money laundering, tax evasion, and terrorist financing.

The KNF mentioned that it is planning to introduce a regulatory system for Bitcoin (BTC) and altcoins that will be officially launched on July 13, 2018.

There's nobody left to regulate. Following their attack on exchanges where they demanded them to share all private data of their clients along with their private BTC addresses and asked everyone to pay additional 1% tax per transaction (!), all major crypto exchanges fled the country. I doubt with such moronic laws any large business owners will try their luck in Poland, especially with Germany, Switzerland and Malta just around the corner.

Such conservative behavior won't last long. After larger economics release new loyal and supportive regulations towards the crypto market other countries will have to follow, otherwise they will simply miss the "train full of Bitcoins"