The government in Poland is starting an offensive against cryptocurrencies

The government in Poland is starting an offensive against cryptocurrencies.

During the World Economic Forum which was held in last week in Davos Poland's Prime Minister have said in interview with Bloomberg that:

Reporter: Final question on Bitcoin or cryptocurrencies. Do you look at them?
Mateusz Morawiecki: We look at them.
*Reporter: Will you regulate them?
Mateusz Morawiecki: We are going to regulate more. (...) We've experienced a very big shadowbanking scandal a couple of years ago called Amber Gold and we don't want to have another one.
Reporter: Ok, very quickly. How would you regulate them? Would you ban them?
Mateusz Morawiecki: Either. Ban or we will introduce some special provisions, special regulations so that not too many unaware people are involved so this not another Ponzi Scheme.

Today, two big crypto exchanges in Poland which are BitBay and Abucoins were added to the Financial Supervision Authority (KNF) public warning list. There are couple of examples where banks were terminating the agreements with companies present on this list. It's a list of shame. Companies suspected of committing a crime land on it. Even if the prosecutor closes the investigation or the court issues a positive verdict for the company, the KNF does not itself remove it from the list! The entry can be up to 10 years there.

Office of Competition and Consumer Protection (UOKIK) is going to have a closer look at the activities of selected companies offering cryptocurrency trading. The office have specially created the task force for dangerous financial instruments to deal with this matter. This office may impose fines.

It is being said that more of this such events might occur during this month and by the end of it regulations are to be worked out.

Sad times for crypto enthusiasts in Poland are already around the corner...

Sources: http://kryptowaluty.org.pl/aktualnosci-ze-swiata-kryptowalut/gielda-bitbay-na-liscie-ostrzezen-knf-co-to-oznacza-w-praktyce, https://www.facebook.com/KomisjaNadzoruFinansowego/posts/1835456869806359, http://kryptowaluty.org.pl/aktualnosci-ze-swiata-kryptowalut/premier-morawiecki-w-wywiadzie-dla-bloomberg-zajmiemy-sie-regulacja-kryptowalut/ and https://www.bloomberg.com/news/videos/2018-01-24/polish-pm-asks-is-euro-part-of-the-solution-or-the-problem-video