Bitcoin Firms Recognized by Polish Regulator


For years, Poland has been urging the regulation of the digital currency bitcoin; however, regulation has never been achieved. Now, though, in what many may consider a landmark decision, Poland’s Central Statistical Office (GUS) has recognized the trading and mining of electronic currency.

This means that those companies who use virtual currencies with their business are now able to register with the GUS. According to GUS website, companies can do this by applying to obtain an official PKD 64.19.Z.

This news signals a significant move for those within the digital currency industry in Poland, where regulators have remained tight-lipped on digital currencies such as bitcoin in the country.

The latest development on the advanced of bitcoin regulation came in October of last year when the Polish government opened up the floor to digital currency and blockchain issues that saw participation from the Polish Bitcoin Society.

At the time, Sylwester Suszek, BitBay CEO, said to CCN that the meeting demonstrated ‘mutual interest in regulation and legitimization of Bitcoin in Poland.’

This way the whole sector of Bitcoin and Blockchain related technologies could develop faster and in a more-friendly environment. It shows that both sides of this dialogue are interested in cooperation for the future of Bitcoin, both on the business level and the state level.

The CCN report adds that an official publishing from the Polish Ministry revealed that the working group will look to educate Polish citizens about cryptocurrencies.

Titled ‘From Paper to Digital Poland’, it aims to build awareness of the technology while at the same time developing digital currency markets.

With this latest news, though, it remains to be seen how many companies will apply to the GUS and how far this will push the technology in the country.

Featured image from Shutterstock.

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