Bitcoin Global News (BGN)
June 08, 2018 -- ADVFN Crypto NewsWire -- On Wednesday, it appeared
that Poland flipped its stance on cryptocurrency trading. Up until
recently, they had been known as a country that openly stood
against the rise of the Blockchain.
Their campaign against Crypto
seemed to begin in February with a publicly declared$27,000 social
media campaign, together with Google Ireland, a Polish Youtube
partner called Gamellon, and Facebook Ireland. The outcome of
it seems quite inconclusive, due to the fact that the way they
carried it out made it look like an underhanded smear campaign, to
certain industry insiders.
Even so, their efforts continued on
May 10th, when a wing of the Polish government called the Polish
Financial Supervision Authority or the KNF, decided that they would
invest $173,000 into a new social media campaign against the
Cryptocurrency world.
The supposed difference between the
two campaigns, was that the newer one would focus on the dangers of
pyramid schemes and foreign currency trading as well as the overall
risks of investing in Cryptocurrencies.
In connection with this particular
effort, the Central Bank of Poland and the KNF created an
anti-Crypto website that aimed to get the messages across that
“virtual currency is not money,” and “cryptocurrencies are not
currency.”
With the facts in mind about both
of these campaigns, it did seem as if nothing would stop Poland in
its effort to curb the rise of the Blockchain industry. What’s
perhaps most interesting about the entire situation is that this
second campaign was supposed to begin in June, but before that
could happen, Poland did a public about face.
Cointelegraph reported on Wednesday
that in the “wake of” Poland’s campaigns against Crypto, the
country has decided that Cryptocurrency trading is legal. Before
going further into this announcement, it is important to keep in
mind that the second campaign never truly began. Secondly, the
organization that announced this was none other than the KNF,
Crypto’s former, clear opponent.
Their explanation of why they made
this decision, however, did not seem to indicate that they’ve
flipped their position, completely. Concretely, the KNF apparently
stated that entrepreneurs can feel free to trade Crypto because at
this time, there are no regulations in Poland that prevent them
from doing so.
Because this is true, it’s also
illogical to say that Poland needs to stop their campaign plans. It
might be enough to shift their focus, away from attempting to kill
interest in Crypto, to education on the risks that such investing
brings. In what could be a show of support for this theory, the KMF
also announced that the Polish government is currently developing a
set of regulations that it hopes will reign in fraudulent behavior
on the Blockchain markets.
By: BGN Editorial Staff
News:
Cryptocurrency
Blockchain