✨ Cryptocurrency regulation continues to progress ✨

Regulation of the cryptocurrency market within the European Union is still progressing, but the regulators are so bad at implementing their policies that many things about the subject may yet change.

For blockchain industry players, this is both a curse and a blessing. Polish MPs, who failed to pass a law on cryptocurrencies in time, added their three cents to the chaos of the new regulations coming into effect.

As a result, we can still enjoy such aspects as privacy-respecting transactions at points of Bitcoin ATM.com!

🌟 Good news for the cryptocurrency market in Poland

The European Union is doing what it can to strip cryptocurrency investors of their right to financial privacy. But the process of implementing the new rules under the Markets in Crypto Assets (MiCA) regulation simply overwhelms European officials.

This is further confirmation that without proper dialogue with crypto players, all new regulations will bring more losses than benefits.

How the industry is to operate is decided by people who have no practical knowledge.

Do they really realize what actions are crucial for this industry? What challenges do crypto companies have to overcome?

It's not entirely clear whether officials don't know what they're doing or simply want to stifle the development of digital assets on the Old Continent.

🌪️ Absurd regulations of the FSC

Examples of regulators' incompetence do not have to look far. The Polish Financial Supervision Authority (KNF) first announced a ban on cryptocurrency loans, without giving any specific justification!

What was the justification for this?

🧐 Nothing. Simply "concerns about the safety of market participants".

What's more, the ban was also supposed to cover staking! According to the FSC:

• The process of blocking funds in protocols to secure networks and receive rewards is also a loan.
• The average Blacksmith should not make money from staking because it is a "threat."

🌟 F ortunately, common sense prevailed - the ban was withdrawn!

🚀 Bitcoin ATM.comBitcoin ATM transactions still possible!

Polish VASPs and CASPs have an extended transition period for MiCA implementation, so you can still trade at Bitcoin ATM.com!

Transactions equal to or exceeding €1,000 require an ID document to be scanned on the device. In the event that the same person buys or sells cryptocurrency on a single day in several transactions for a total amount equal to or greater than EUR 15,000, we interpret these transactions as related and require the scanning of an ID in that case as well. In special cases such as attempts to obscure one's face during a transaction, we reserve the right to require the scanning of an ID for smaller amounts as well.

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