In the light of Poland’s looming crypto exchange regulations, a group of lawmakers has filed a request for information to the country’s Ministry of Finance, asking whether the ministry plans to facilitate making bank deposits for Polish crypto companies, and if it aims to develop regulations for stablecoins in the near future.
“In an increasing number of countries, cryptocurrencies and the activities that are related to them are regulated,” the MPs said. “Attempts to put order into this area have also been undertaken in our country. Starting on 31 October 2021, the activities of cryptoasset exchanges will become a regulated activity in Poland. Unfortunately, these new regulations also generate new issues.”
The lawmakers say that, due to the creation of a new register of crypto exchanges, local industry players “could have major issues with opening and maintaining bank accounts.” These difficulties could be further amplified by the “statements of the Financial Supervision Authority [Komisja Nadzoru Finansowego, or KNF] which discourage banks to cooperate with companies that deal with cryptoassets.”
The document makes reference to the regulator’s statements similar