zondacrypto at the Parliament session and the inauguration of the Parliamentary Group on Cryptoassets 
and Blockchain Technology

The first meeting of the Parliamentary Group on Cryptoassets 
and Blockchain Technology. Is this a sign of changes in the Polish crypto market?

It is not worth counting your chickens before they hatch, but the very establishment of the Parliamentary Group may be a visible and long-awaited light at the end of the tunnel. The first meeting was attended not only by members of parliament, but also by representatives of the cryptocurrency industry. The priorities of Polish policy in the area of crypto assets and blockchain were presented, and a discussion was held on the development and challenges of the domestic sector. Although many words were spoken during the discussion that confirm the critical situation on the market, the start of the dialogue can be seen as a step in the right direction. 

As Paulina Gomoła, Head of Security at zondacrypto, who was present at the meeting, said:

I am pleased with the interest shown by legislators in conducting such a dialogue with the sector on a regular basis. As I understand it, more meetings are planned, in which contentious issues will be discussed in a more narrow and precise manner. I hope this will help to develop solutions that are wise and in line with the specific nature of the market. The goal is shared—to develop a law, because the existence of the MiCA Regulation is a fact. However, I regret that this approach, i.e., an open and regular dialogue similar to yesterday's, was not presented at the stage of drafting the law or preliminary amendments. Perhaps then we would not currently be at a stage of regulatory paralysis and legal uncertainty. The law is already long overdue, which forces us to focus only on the most urgent issues. Nevertheless, we are moving in the right direction, and I strongly hope that it will bring results that satisfy both the market and its future supervisor.

Dawid Sendecki, our Chief Risk & Compliance Officer, also attended the meeting and left with hope for a better tomorrow for the Polish cryptocurrency sector:

The supervisory authority seems to have its own vision for the introduction of these regulations, which assumes solutions specified by it, while insisting that consultations with market participants are taken into account. It is very good that the Ministry of Finance has stated that cryptocurrencies are already part of the financial system. This gives them credibility as the latest financial instruments, under the upcoming supervision, most likely carried out by the UKNF. What is more, at the end of the meeting, Deputy Undersecretary of the Ministry of Finance, Jurand Drop, made a statement responding to the accusation of combating crypto in Poland in the public domain, which I would like to understand as an announcement and a kind of declaration. He said that due to the lack of regulations to date, the UKNF recognized crypto as highly risky. Without a legal basis, it was not possible for them to shape a different image of this area of activity. Today, with influence over these regulations, these possibilities will exist. I take him at his word that this will result in a visible, positively felt change.

As a company with Polish roots, we are keeping our fingers crossed that these hopes will not be false, and we are closely monitoring the situation, which may prove crucial for Poland.