A regulatory framework for cryptocurrencies will appear in Poland

The Polish Financial Supervision Commission (KNF) will create a set of rules to regulate the cryptocurrency industry. The authorities intend to bring the regulatory framework into a single form, thereby simplifying the work with digital currency in their country.

At the moment, the department has developed a mechanism for the release and implementation of transactions with such assets, which will be supplemented over time. In the current edition, in particular, the ways of using digital tools are considered and their classification is given. Thus, the authorities are trying to protect market participants from money laundering and the use of cryptocurrencies for illegal purposes.

We add that the Polish Financial Supervision Commission notes that it is ready to discuss initiatives in the field of cryptocurrencies with the country’s financial regulators in order to outline ways of developing alternative currencies and their regulation.