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Exemplary for Consumers & Banks on Cryptocurrency risks by Polish Regulators

Polish regulators sentenced that banks and investors must avoid dealing with the cryptocurrencies like Ether and Bitcoin.

Warning against investing in digital currencies

Recently, the Financial Supervision Commission and Polish National Bank passed a broad warning against investing in digital currencies, fraud and price volatility. Furthermore, the member confirms ether, bitcoin and litecoin are not contemplated legal tender in Poland.

As the statement doesn’t stipulate any policy measures for the tech. However, it does prevail that financial institutions completely avoid doing business with cryptocurrency exchange service. In an esteemed with a precise to the risk of corruption of these substances for terrorist financing and money laundering.

The add up of regulators, “The précised decision must be through an analysis of the potential significances that contains legal reputation and risk.”

At the time of contend the dispersed ledger must segregates from cryptocurrency applications. The supervisors called for increased inspection before comprehensive adoption occurs.

The statement read, “Legal, operational and functional aspects of technology should be focused with a systematic scrutinizes. And comprehensive test before the introduction of the financial market.”

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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