Polish Ministry of Finance: EU should establish Bitcoin regulations

     Poland’s Ministry of Finance said that due to the cross-border nature of cryptocurrency transactions, Bitcoin regulation should reach the level of EU law.

     The department submitted a written request for information filed by two members of the Polish parliament, Jan Warzecha and Bogdan Rzońca.

     In the information request, the MPs said there were "increasing incidents of piracy, cybercrime, online fraud, theft, as well as hacking of online accounts and attacks on cryptocurrency users".

     More specifically, the number of cybercrime detections increased from 404 to 22,000 between 2004 and 2014. As a result, politicians are questioning whether the department has "plans to introduce legislation to regulate digital currency issues."

     However, the Polish Ministry of Finance stated that it does not plan to introduce any new cryptocurrency-related regulations in the near future:

     “In addition to regulatory activities, equally important is information activities that must highlight the risks associated with the purchase of cryptocurrencies, which is the responsibility of the Inspector General of Financial Intelligence.”

     Poland’s Ministry of Finance has called on EU institutions to regulate cryptocurrencies, with the document stating: “The Ministry of Finance, including its tax administration, will continue to follow up on this issue.”

     But after Poland votes in a new government, it cannot be ruled out that the Ministry of Finance will change its stance on cryptocurrency regulation.