The Polish Blockchain Association (PBA) has threatened to go to court to seek redress if the complaint they have filed at the Office of Consumer and Competition Protection(OCCP) is not determined to their satisfaction.
On Tuesday the PBS filed a complaint with the country’s Antitrust office citing unfair treatment from the Polish banks. According to Jacek Walewski, secretary of the Association, for months now Banks don’t want to open new accounts for Cryptocurrency firms and have even closed existing accounts.
Walewski told Coin World Story on Friday they will be forced to seek legal action if their demands are not met. “We are waiting for a positive answer from OCCP, otherwise, the court may be the next step for many polish firms,” he indicated.
The situation has made it impossible for clients of digital asset companies to send funds to the Crypto Markets, and therefore cannot buy cryptocurrencies as well.
Central Bank Involvement
This brings to mind the current circumstance in Zimbabwe where the Central Bank has ordered banks to close all the accounts of Cryptocurrency Exchanges. In fact, the case is pending before a high court after Golix, the country’s topmost Exchange filed a suit challenging the decision. Similarly, Exchanges in Ireland are facing the same problem with Banks.
Inquisitively, Walewski thinks the banks are being influenced by the Polish Central Bank and Polish Financial Supervision. He claimed, “The [PCB and PFS] think that Bitcoin is just a fraud and Ponzi scheme.”
The Secretary narrated how Poland’s Prime Minister compared Bitcoin to Amber Gold – a huge polish financial scandal. Also, he believes the Ministry of Finance and PFS wants to regulate the technology and the entire ecosystem.
Is A Ban Eminient?
When CWS asked Walewski whether he thinks the government will eventually ban Crypto in Poland, this was his response:
“I do not think here in Poland it will be completely banned. It seems the only problem is that the Polish government does not understand Blockchain and Cryptocurrencies. This is probably the main reason for their scepticism.”
Since the advent of Cryptocurrency, many countries have banned it, only to turn around and legitimize it. Case in point is Cambodia, Vietnam and even Russia.
Sadly, the current uncertainty and unfriendly environment for Cryptocurrency businesses have led to some companies relocating from Poland to elsewhere whilst others have closed their doors.
“For example, the biggest polish exchange Bitpay went to Malta and Abuscoins decided to stop operation altogether,” stated Walewski. He is convinced Poland has lost the Blockchain race because the government is scared of the new technology ignorant of the ample changes and development it offers.
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