KO candidate for President of the Republic of Poland, Rafał Trzaskowski, recently stated that he is against regulating the cryptocurrency market. “It appears that the President either lacks full knowledge of what regulations mean or was not precise in his statement. Regulations, including the EU MiCA regulation, are a realistic form of protection for users and a way to oppose the black market. Regulation does not have to mean banning the allocation of funds in cryptocurrencies, and in the context of MiCA, it has nothing to do with prohibiting. It’s important to distinguish this and state loudly that regulations are beneficial in the long run for those who lawfully engage their funds in cryptocurrencies, as well as for legal entities,” emphasizes Przemysław Kral, CEO of zondacrypto, a leading licensed cryptocurrency exchange in Central and Eastern Europe.
The President of Warsaw and candidate for President of the Republic of Poland, Rafał Trzaskowski, however, clarified during a meeting with the residents of Grudziądz that he is against regulating the crypto industry. “A lot of people are investing in it and should have the freedom to invest. (…) Of course, they bear the risk, but for their own sake, I am against regulating this,” he stressed.
“We need to distinguish between the two. In terms of the fact that people should have the freedom to build their portfolio, as representatives of the cryptocurrency industry, we fully agree. But in the context of interpreting the terms “regulated market” and “regulations” – we do not. The risk associated with cryptocurrencies themselves is one thing. But the risk associated with allowing the black market’s operation and lack of any regulations restricting unreliable, unverified entities operating in Poland is a risk that a future President of Poland should not permit – explains Przemysław Kral, CEO of zondacrypto.
In early 2024, the Government Legislation Center published a bill on crypto-assets drafted by the Ministry of Finance. However, it has not yet been approved by the Council of Ministers. As a result, the EU’s MiCA regulation has been in effect in Poland since December 30th last year.
“The aim of MiCA is to further secure users of cryptocurrency exchanges across the European Union. Thanks to this, only legal and the most trustworthy entities will remain in the market, which of course does not exempt us from thinking or protecting our data, nor entirely eliminate the black market. The sole purpose of MiCA is to unify the laws and legally protect customers. As an entity with over 1.3 million active users worldwide, we support innovation and development. We also believe that only regulations created in dialogue with organizations with industry experience, like ours, will consider both parties’ interests and can be practically implemented. However, regulations are undoubtedly needed, primarily for users. Importantly, given the lack of current national legislation, all entities in the cryptocurrency market in Poland must comply with the EU’s MiCA regulation as of now, which is confirmed by the Financial Supervision Commission’s recommendation. Hence, this market in Poland is currently regulated,”
Research from the Polish Economic Institute confirms that over 94% of Poles have already heard about cryptocurrencies, but only about a third consider them safe. “And this stereotypical, old-fashioned perception of cryptocurrencies can change with smart regulations,” emphasizes the CEO of zondacrypto.
Source: https://managerplus.pl/regulowanie-to-nie-zakazywanie-prezes-gieldy-kryptowalut-prostuje-slowa-kandydata-na-prezydenta-rp-49011
