Banks in Poland Oppose Bitcoin Exchanges
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Banks in Poland Oppose Bitcoin Exchanges

Avatar newsbtc 4 years ago

Poland might now join the ranks of those countries not open to cryptocurrency developments, as banks in the nation refused to accept payments using bitcoin exchanges. According to news from Polish bitcoin forum bitcoinet.pl, bitcoin payments are no longer available on cryptocurrency exchanges Cryptocoin.com, Bitbay.pl. and Bitmarket24.pl.

“All this is due to the ultimatum that the four largest Polish banks bring to operators and BlueMedia CashBill payments,” the forum noted. With that, bitcoin exchange Bitbay.net has already advised its users that they can no longer make accelerated bank deposits because its online payment provider, Cashbill, has terminated its contract with Bitbay.net.

Issues with Bitcoin Exchanges

“CashBill contacted us and informed that he will need to end the cooperation with us due to the warning it got from banks,” Justyna Laskowska Witek, chief marketing officer at Bitbay.net shared. “Banks demanded from CashBill an immediate termination of the contract with our bitcoin exchange – BitBay.net. One day later, it turned out that it wasn’t only our case. Moreover, we did not receive any information (neither from the operator nor from banks) about the possibility of such a situation.”

With that, BitBay.net is now encouraging its customers use an alternative online payment service, BlueCash, to make deposits. However, this process is limited and is not as fast as using CashBill.

Bitcoin enthusiasts in Poland have been disgruntled over this move and called on financial institutions to be more open to cryptocurrency industry developments. Supporters have even urged bitcoin exchanges to take action against these unfair practices by Polish banks.

“In Germany and Switzerland, the BTC is simply treated as another foreign currency,” an observer noted on the Polish cryptocurrency forum kryptpolonia.info. “In Poland, as usual, we have a circus. It is a pity that the bank does not inform earlier that plans to block the account to a company. This is a frivolous treatment of their customers.”

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