Poland vs. Bitcoin

Polish authorities, regulators and banks issued a detailed statement warning of the risks associated with bitcoins and other crypto-currencies. The statement said that these currencies are not legal and can not be used to pay taxes. Enterprises and legal entities should be careful in using virtual currencies.

The warning says:

The Polish National Bank and the Financial Supervisory Commission report that virtual currencies are not issued and are not guaranteed by the central bank of the state. They are not a legal tender or currency, can not be used to pay off tax liabilities, and do not meet the criterion of general recognition in retail outlets.

The article also mentioned that virtual currencies do not currently violate EU legislation. Digital currencies are said to contain a number of risks that people should be aware of before they participate in transactions related to crypto-currencies.

The Polish authorities said they were against using exchangers to buy crypto currency, and warned about the risks associated with using any services that convert money into bitcoins and other crypto-currencies.

Perhaps this warning was published in connection with the growing number of Polish restaurants and eateries that started taking bitcoin as a payment method. The largest food delivery service in Poland, which cooperates with 5,000 restaurants, has recently begun to accept the digital currency. It will be interesting to see how the public and investors will react to the recent criticism of the authorities towards bitcoin and other crypto-currencies.