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Polish Bitcoin Association Goes Up Against Banks

 

As of this weekend, the news went public that the Polish Bitcoin Association is not letting crypto consumer rights be threatened without a fight. They have reportedly appealed to a Polish government wing called the Office of Competition and Consumer Protection, which is an antitrust authority of sorts for the country.

 

The primary goal of this appeal is to convince the office to investigate what the PBA deems to be an illegal blockage of competition in the banking space.

 

What this refers to is the fact that many Polish consumers and businesses have been affected by banks refusing to run any sort of transaction that has to do with Cryptocurrencies.

 

The appeal specifically mentions 15 different banks and financial service providers that seemingly refused 52 different bank account applications, while also closing 25 accounts of various businesses that had dealings in Cryptocurrencies.

 

 One of the biggest defendants related to the appeal is MBank, which the PBA alleges has personally blocked nine account applications and closed three business accounts.

 

At this point, the OCCP has not responded to the call, at least not publicly.

 

What could be good news for the PBA  and the Crypto industry at large, is that the Polish government seems to be behind Crypto regulation.

 

Unlike some countries, Poland has indicated that it is against what it government deems, “excessive regulation.”

 

Therefore, if this appeal is accepted and argued correctly, then the government’s current stance on Crypto and the Blockchain could be used to support the rights of Crypto consumers.

 

If not, at the same time, it could be used to block the appeal from going any further.

 

In the end, it all comes down to whatever the Polish government decides to do with the PBA’s first filing. For the appeal to move forward, it will first have to be accepted as legitimate.

 

 

 

By: BGN Editorial Staff

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