Poland’s Ministry of Finance: EU should create bitcoin regulation

Regulation | October 19, 2015 By:

In a written response to a request for information filed by two Polish Members of Parliament (MPs), Jan Warzecha and Bogdan Rzońca, Poland’s Ministry of Finance said regulating bitcoin should form “part of initiatives at the EU level, due to the transborder character of cryptocurrency transactions”.

In their request for information, the MPs said “piracy, cybercrime, phishing, thefts and hacking online accounts and attacks on the users of cryptocurrencies are increasingly often taking place”.

“What is equally important, besides regulatory activities, is an informational campaign which highlights the risks resulting from purchasing cryptocurrency, and which is developed by the General Inspector of Financial Information,” the ministry said.

In spite of its call on the European Union institutions to regulate cryptocurrency, the document states “the issue will continue to be of interest to the Ministry of Finance, including its tax administration authorities”.

Poland’s Ministry of Finance is part of the government of Poland. Among its powers and responsibilities it drafts the national budget, deals with taxes, financing of the local self-governments and issues related to public debt.