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The Government of Poland Discussed Bitcoin this Week, Encouragingly

Last Updated March 4, 2021 4:51 PM
Samburaj Das
Last Updated March 4, 2021 4:51 PM

Earlier this week, the Polish government opened up the floor to bitcoin and blockchain issues, with an open meeting organized by a member of parliament that saw participation from the Polish Bitcoin Society.

In a first of its kind meeting this Monday, October 3rd, an open televised session organized by economist and member of parliament Mirosław Suchoń saw a discussion and lectures that saw bitcoin and blockchain under the spotlight.

Bitcoin Macro Silver

The state of legislative regulation concerning companies in the bitcoin ecosystem in the country was among the main concerns bought forward by industry representatives. While the industry isn’t against regulation, the argument was for laws that wouldn’t stifle the innovation or those who were already invested in the ecosystem.

BitBay, a leading Poland-based bitcoin and altcoin exchange that participated in the meeting, revealed that the Polish government is -notably- interested in paying attention to and encouraging bitcoin- and blockchain-related endeavors in the country.

Speaking to CCN.com, BitBay CEO Sylwester Suszek said:

The meeting shows mutual intrest 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.

Furthermore, Suszek noted that bitcoin companies in the country actively sought the creation of best practices against money laundering in an effort to bring increased transparency in the industry. He called for cooperation alongside legislation from the government as a means to curbing situations wherein bitcoin could be used for fraud.

A Collaborative Effort

Suszek’s hint at bitcoin and blockchain efforts at a state level will be aided by a collaborative project between industry specialists and government representatives under the “Blockchain and cryptocurrencies stream”.

In it, the Ministry of Administration and Digitization of Poland will work together with a group of cryptocurrency and blockchain specialists to oversee cryptocurrency market development as well as that of e-administration solutions, made possible by blockchain innovation.

An official publishing  from the Polish Ministry revealed that the working group will look to educate Polish citizens about cryptocurrencies, highlighting how their usage would see access to data and money could be made “cheaper, faster and significantly safer.”

The outreach and work that the program will undertake includes:

  • Fostering the necessary conditions to aid the development of digital currency projects and companies in Poland.
  • Developing a tailored program to educate authorities, the government and the public on digital currencies
  • Creating and developing blockchain accelerator projects
  • Supporting and safeguarding participants of the Polish cryptocurrency industry, while improving the country’s Fintech standing, and
  • Identifying the potential for blockchain technology in its application for government administration.

This effort will see multiple benefits, as outlined by the Ministry. They are:

  • Stifle-free legislation and legal supervision of authorities over cryptocurrencies and blockchain technology
  • Improving cryptocurrency and blockchain awareness among the public, business and government
  • The possibility of modernizing public administration, which would see the digitization of information, both public and private (similar to a recent directive by the Government of Dubai). This would also mean the country’s cybersecurity infrastructure would be enhanced with blockchain technology, the Ministry noted.
  • “Catching up with the most technologically advanced countries in the world (In terms of applications of cryptocurrency and blockchain technology)” the Ministry underlined.

Suszek sees many more official discussions concerning bitcoin and blockchain with the Polish government in the future.