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Government of Poland Debates on Bitcoin Regulations

Avatar Gautham 4 years ago

The government in Poland recently had a debate in the Polish Parliament regarding Bitcoin regulations. The event organized by the Polish Bitcoin Society along with Miroslaw Suchon saw lectures by specialists from the Bitcoin and blockchain industry.

Cryptocurrencies like Bitcoin occupy a unique position in the monetary system. They are decentralized, supported by a worldwide community instead of central banks and governments. Without control over the cryptocurrencies, the governments have a conflicting opinion about Bitcoin regulations. On one end, accepting cryptocurrencies means giving up complete authority over the monetary policies and at the same time strict regulations may hinder the development of blockchain technology which has a potential to revolutionize the whole payments industry.

The lively debate had industry specialists and politicians interact with each other regarding various aspects of cryptocurrency technology and its pros and cons. The speakers at the event included academics like Dr (hab). Konrad Zacharzewski, Dr. Krzysztof Piech, and Prof. Marian Sredrny; legal experts like Jacek Czarnecki and Dr. Krzysztof Korus; industry representatives from BitBay, IBM and Polish Bitcoin Society members.

According to reports, the Government in Poland is enthusiastic about cryptocurrencies and more such debates are expected to follow this first ever government – cryptocurrency interaction. As expected, one of the main topics of the debate revolved around the legislative issues surrounding the creation and use of cryptocurrencies. It was accepted that regulations are necessary to protect the investors’ interest without hindering the freedom of the community or hampering the progress of technology development.

BitBay is the leading cryptocurrency platform in Poland, its CEO Sylwester Suszek’s attendance in the event allowed them to explain the various challenges faced by cryptocurrency companies to the country’s lawmakers. Suszek, during the presentation, is said to have stressed upon the need for co-operation between the companies and government institutions to create the much-needed solutions for the public using cryptocurrencies.

All the participants have expressed their satisfaction with the outcome of the event. The Ministry of Administration and Digitization is said to be working closely with specialists in the blockchain and cryptocurrency domain to develop digital safety and e-administration solutions in the country. Given the government’s stance, the cryptocurrency community may soon expect interesting developments in the country’s Bitcoin and blockchain scene.

Ref: Ministry of Digitization |Image: NewsBTC
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