Partnerzy strategiczni
Partnerzy wspierający
Partnerzy wspierający
Partner merytoryczny

Major Cryptocurrency Market Put On Polish Regulator's Warning List

The Polish Financial Supervision Authority also filed a possible offense notification to the prosecutor's office concerning BitBay, one of the biggest cryptocurrency markets in Poland

The Financial Supervision Authority announced that it is putting BitBay, a company based in Katowice, on its public warning list. BitBay is one of the biggest and most popular cryptocurrency markets in Poland. The warning list is a public register of companies that, for example, do not have the proper licenses for their financial activities.

The regulator also filed a possible offense notification to the public prosecutor's office. The company is suspected to have undertaken unauthorized activities in terms of payment services or issuing so-called electronic currency. BitBay offers customers current accounts in bitcoin, among others, and until recently it also sold payment cards.

Related:  Customers of Poland's Biggest Bank Can Now Start a Business Via Its Transaction System

BitBay commented on the events on its Facebook profile. The company wrote that it has legal opinions, procedures and processes that guarantee that its activities are in accordance with the law. - Government institutions do not issue licenses for this type of services in Poland, which is why we aim to follow the best standards expressed in the Polish cryptocurrency market's good practice canon and the AML (anti money laundering directive) and KYC (“know your customer”) policies, which we have implemented despite a lack of regulation in this area - the statement says.

Related:  Consultations for Polish API Have Begun

BitBay is also assuring its customers that their money is safe. - Each of our users has an individual, virtual bank account in złoty. Deposits and withdrawals in US dollars and euros are warranted by the payment operator - a company licensed and regulated by the Financial Supervision Authority. Out market's customers do not need to worry about the state of their deposits or access to them - the company stated in response to the regulator's claims.


Udostępnij ten artykuł

Zostaw komentarz

In English

Uber To Move Its Polish Office to Kyiv

The managers from Uber's Polish office are looking…

Poland's PKO App Number One Among World's 100 Biggest Banks

The ranking was published in Retail Banker International…

Masterpass Is Now Available at Fifth Bank In Poland

The solution makes online card payments easier

See all articles in English →

Zapisz się do newslettera

Nie możecie się dostać na konto? Karta nie działa? Awaria w banku? Chcecie się podzielić informacją, która może być ciekawa dla innych? Napiszcie do nas.