Polish financial authority declares crypto trading legal following anti-crypto campaign
Poland’s financial watchdog recently claimed that cryptocurrency trading is completely legal in the country, according to a official announcement published on its website on June 6.
In its recent decision, the Polish Financial Supervisory Commission (KNF) sought to clarify the status of cryptocurrencies and crypto trading, “recognizing emerging legal doubts related to the functioning of stock exchanges and bureaux de change.”
The Commission’s opinion comes in the wake of the country’s ongoing orchestrated campaign against the use of cryptocurrency in the country.
In its most recent statement, the KNF said that entrepreneurs are not banned from trading crypto because there are “no regulations prohibiting trading. […] of cryptocurrencies.
However, the financial authority noted that the government is focused on developing a regulatory framework for the market to prevent it from the risks sometimes associated with crypto, such as money laundering, tax evasion and the financing of terrorism.
The KNF mentioned that it plans to introduce a regulatory system for Bitcoin (BTC) and altcoins which will be officially launched on July 13, 2018.
Last month, the KNF announced its intention to run a social media campaign on the risks of crypto investments. Earlier, in mid-February, the Central Bank of Poland admitted it had secretly funded a $ 27,000 anti-crypto campaign consisting of a YouTube video about a man losing all his money after investing in crypto. currencies.