The largest Polish crypto currency exchange Bitbay winding down operations and moved to Malta. It is not in search of optimum conditions for business — at home just didn’t have the banks willing to work with the crypto currency exchange.
In a statement issued on 29 may, said that in Malta, where legislation in the field of cryptocurrency is more liberal, open a new exchange with the same name. The move is explained as a necessary measure — activities in the field of currency exchange in Poland requires cooperation with the Polish Bank. However, the last local Bank who was willing to serve Bitbay, decided to stop cooperation unilaterally since the end of may.
“In these circumstances, Bitbay is forced to break contracts for the provision of services with notice customers in the month before termination. The notice period will expire on 17 September,” — said in the message. After 31 may, customers will lose access to their scetv in PLN, all other options will be available. Beginning September 17, customers will only be allowed withdrawals without deposits — from this day on, all operations on the Polish stock exchange will be terminated. Customers can open a new account at the new Malta stock exchange, which will operate on the same domain and under the same brand.
An outright ban on mining or trading operations in Poland no. Recently, the government of the country was even forced to cancel the taxation of operations with crypt, if only temporarily. Overall, however, the approaches of the Polish authorities to regulate cryptocurrency gentleness did not differ.
Earlier in may, the Polish financial market regulator has announced a tender for conducting a social media campaign that sheds light on the dangers involved in transactions with the cryptocurrency, participation in the schemes of pyramid and Forex trading. Even before the regulator together with the Central Bank of Poland has developed a training website, also devoted to the risks of the operations of the crypt.