Bitcoin Global News (BGN)

June 08, 2018 -- ADVFN Crypto NewsWire -- On Wednesday, it appeared that Poland flipped its stance on cryptocurrency trading. Up until recently, they had been known as a country that openly stood against the rise of the Blockchain.

Their campaign against Crypto seemed to begin in February with a publicly declared$27,000 social media campaign, together with Google Ireland, a Polish Youtube partner called Gamellon, and Facebook Ireland. The outcome of it seems quite inconclusive, due to the fact that the way they carried it out made it look like an underhanded smear campaign, to certain industry insiders. 

Even so, their efforts continued on May 10th, when a wing of the Polish government called the Polish Financial Supervision Authority or the KNF, decided that they would invest $173,000 into a new social media campaign against the Cryptocurrency world.

The supposed difference between the two campaigns, was that the newer one would focus on the dangers of pyramid schemes and foreign currency trading as well as the overall risks of investing in Cryptocurrencies.

In connection with this particular effort, the Central Bank of Poland and the KNF created an anti-Crypto website that aimed to get the messages across that “virtual currency is not money,” and “cryptocurrencies are not currency.”

With the facts in mind about both of these campaigns, it did seem as if nothing would stop Poland in its effort to curb the rise of the Blockchain industry. What’s perhaps most interesting about the entire situation is that this second campaign was supposed to begin in June, but before that could happen, Poland did a public about face.

Cointelegraph reported on Wednesday that in the “wake of” Poland’s campaigns against Crypto, the country has decided that Cryptocurrency trading is legal. Before going further into this announcement, it is important to keep in mind that the second campaign never truly began. Secondly, the organization that announced this was none other than the KNF, Crypto’s former, clear opponent.

Their explanation of why they made this decision, however, did not  seem to indicate that they’ve flipped their position, completely. Concretely, the KNF apparently stated that entrepreneurs can feel free to trade Crypto because at this time, there are no regulations in Poland that prevent them from doing so.

Because this is true, it’s also illogical to say that Poland needs to stop their campaign plans. It might be enough to shift their focus, away from attempting to kill interest in Crypto, to education on the risks that such investing brings. In what could be a show of support for this theory, the KMF also announced that the Polish government is currently developing a set of regulations that it hopes will reign in fraudulent behavior on the Blockchain markets.

By: BGN Editorial Staff






 

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