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October 4, 2022
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Bitcoin

– Bitcoin, cryptocurrencies and blockchain technology.

Przemysław Koperski (Left) has prepared another interpellation regarding the cryptocurrency market. In it, he asks the Polish government whether it plans to regulate the digital currency market in our country.

MP Koperski has a question for the authorities

Koperski has previously asked the Ministry of Finance whether it has plans to issue a digital zloty. This time, he decided to find out about the regulation of the cryptocurrency market.

In his interpellation he wrote:

“In many countries we are seeing a growing adoption of cryptocurrencies. Decentralized currencies based on blockchain technology are purchased not only by small retail investors, as was the case a year ago, but also large companies. It is enough to mention entities from Wall Street such as Square or MicroStrategy. Corporations sometimes emphasize that in the face of the expected rising dollar inflation, they treat bitcoin as a type of so-called a safe haven, an asset that may retain value in times of crisis. In addition, the number of cryptocurrency exchanges, exchange offices and bitomats (devices similar to ATMs that can be used to buy digital currencies) is growing around the world. Along with this, there is a growing number of retail investors who buy bitcoin as their investment.

The market’s problem is the lack of investors’ awareness of the safe storage of cryptocurrencies. Most investors still deposit them on stock exchanges. When these fail, customers lose funds, as we have already seen with the Japanese Mt. Gox or the Polish Bitmarket. Cryptocurrencies should be kept in their owners’ wallets / accounts. Unfortunately, most of the latter still ignore this fact. An alternative is to regulate the banking system in such a way that users of e.g. bitcoin can deposit their digital assets in banks.

At the beginning of the year, the German law on money laundering came into force, which allows financial institutions to offer cryptocurrencies and their deposits to their clients. It is also in line with this year’s announcement from the US currency controller, which stated that consumers should be able to store their cryptocurrencies in banks. “

Therefore, it asked the Polish authorities to answer the following questions:

  1. Are the Ministry of Finance and the Polish Financial Supervision Authority planning to regulate the cryptocurrency market in such a way that investors can deposit e.g. bitcoins in banks?
  2. Is the government of the Republic of Poland planning to acquire cryptocurrencies as an alternative to gold as part of the purchase of reserves?
  3. Are there plans to prepare an educational campaign related to cryptocurrencies – explaining, for example, how to store them safely and how not to be cheated when buying / selling them?

At the time of writing, the authorities have yet to reply to the MP.

The interpellation was also signed by: Katarzyna Ueberhan, Monika Falej, Jan Szopiński, Katarzyna Kretkowska, Małgorzata Prokop-Paczkowska, Karolina Pawliczak, Wanda Nowicka, Marcin Kulasek, Andrzej Szejna, Katarzyna Kotula, Anita Kucharska-Dziedzic and Joanna Senyszyn.

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