Crypto Trading Is Legal In Wake Of Anti-Crypto Campaign, Says Polish Financial Authority

The financial watchdog of Poland has recently asserted that digital currency exchanging is totally lawful in the nation, as indicated by an official declaration published on its site June 6.


In its ongoing move, the Polish Financial Oversight Commission (KNF) looked to clear up 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 nation’s progressing organized campaign against cryptocurrency use in the nation.


In their latest proclamation, the KNF said that business people are not restricted from crypto trading since there are “no regulations prohibiting trading […] of cryptocurrencies.”


Nonetheless, the financial authority noticed that the government is centered on the improvement of the regulatory system for the market to keep it from dangers now and then connected with crypto, for example, tax evasion, money laundering, and terrorist financing.


The KNF said that it wants to present a regulatory framework for Bitcoin (BTC) and altcoins that will be formally launched on July 13, 2018.


A month ago, the KNF declared plans to lead a social media campaign on the risks of crypto investments. Prior, in mid-February, Poland’s Central Bank conceded that they had subtly financed a $27,000 against crypto campaign comprising of one YouTube video about a man losing all his cash in the wake of putting resources into digital currencies.


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