Polish regulators have called on banks and consumers to guard against currency risk


nnnIn Poland, several regulators have called on investors and banks to guard against encrypted money projects, and the Polish National Bank and the Financial Supervisory Commission have also called for vigilance against volatility and risk in encrypted currencies, and do not involve such services. At the same time, it is necessary to distinguish between encrypted currency and distributed book technology, and to conduct in-depth and detailed examination before using distributed book technology in financial markets.n
nnTranslation: Annie_Xun
nSeveral Polish regulators say investors and banks should avoid participating in digital currencies such as Bitcoin and currency.n
nThe Polish National Bank and the Financial Supervisory Commission jointly issued a statement wary of price volatility and fraud risk in digital money investments. Regulators say the encrypted currency is not the currency of Poland, and the ratio of Bitcoin, Lehman coins and currency to Thailand.n
nAlthough the statement itself does not clarify policy measures specifically addressing the technology, it is clear that financial institutions must avoid working with encrypted currency trading services, “in particular the risk of using these institutions to finance money laundering and terrorist financing.”n
nn”Any decision in this area must be analyzed for potential consequences, including legal and reputational risks.”n
nnWhile it is said that distributed book technology should be distinguished from encrypted money applications, regulators call for increased scrutiny before technology adoption.n
nn”However, before the widespread use of financial markets, many of the features, operations and legal elements of the technology must be carefully analyzed and tested.”n
nnIn February CoinDesk reported that Aleksandra Wiktorow, the Polish financial industry inspector, urged the Ministry of Finance to regulate the encrypted currency exchange. Prior to the earliest foreign currency exchange Bitcurex in the local government agencies after the investigation closed.n

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