Polish Bitcoin Association Fight With Banks

This article was published on: 06/29/18 6:14 PM

Marcin IwańskiWritten by | bitcoin, news, regulations

Polish Bitcoin Association Fight With Banks

As you probably know, banks in Poland started a fight with cryptocurrency companies; first they were closing their accounts, now they did not even want to open an account for crypto-based businesses.

Polish Blockchain Association (PSB) wants to change the way banks are treating “crypto-customers” right now.

According to the PSB Twitter, they issued a letter to the Polish Office of Competition and Consumer Protection (UOKiK).

“Yesterday [26.06.2018], we filed a letter to UOKiK regarding the banks’ hindering the establishment of bank accounts for cryptocurrency entities, and thus hindering them from running a business.”

According to the Finance Magnates, the PSB indicated in their complaint “15 financial institutions” which refused to open a bank account to 52 crypto-based companies and “in other cases closed banking account” of 25 entities. The leading bank which is refusing and also closing accounts is a fourth-largest bank in Poland; mBank, which made nine refusals and closed three accounts.

The Polish Bitcoin Association’s statement confirmed that “the effects of the banks’ actions described clearly aim at removing virtual currency entities from the market, even though such activities are legal and conducted with dignity. In view of the above, action by the regulators is necessary, and this notice and his requests are adequately substantiated.”

For now, we do not know if the UOKiK has agreed to look into the case, for now, Poland still tries to regulate cryptocurrencies.

However, the Polish National Financial Supervision (KNF), is still making anti-crypto campaigns.

Tell us what do you think, here in the comment section, or via Facebook.

 

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Last modified: June 29, 2018

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