The government will block Poles’ property. It’s about a specific group
The government is taking on cryptocurrency traders. Doubts are raised primarily by the regulations that allow property to be blocked for up to half a year.
At the end of February, the draft bill on cryptocurrencies was published. The proposals raise great doubts. The Polish Financial Supervision Authority will be able to block assets, but the list of powers does not end there, reports Rzeczpospolita.
Cryptocurrencies in the government’s crosshairs
According to the draft law, the Polish Financial Supervision Authority will be able to block cryptocurrency accounts for 96 hours, based on a subjective decision and without the need to file charges. Moreover, the blockade can then be extended by six months. As if that were not enough, the regulations do not provide for any appeal path.
The problem is that the citizen has his assets blocked, which are the same as money in the bank, but he is not suspected of any crime, no charges have been brought against him and basically he has no means of appeal. This means that on the basis of a subjective decision – first by the Polish Financial Supervision Authority and then by the prosecutor’s office – without charges being brought, someone’s money can be frozen.
– says Leszek Kieliszewski, a lawyer specializing in financial markets.
Many lawyers say outright that such provisions are unconstitutional. They also pay attention to the aspect of dynamically changing prices on the cryptocurrency market. In the event of a block of even six months, a citizen must take into account large financial losses, which he could minimize if he could manage his account.
However, the list of controversial regulations does not end there. According to the draft, the Polish Financial Supervision Authority will be able to order the sale of cryptocurrencies. This is another provision that, according to lawyers, is not consistent with the Polish constitution.
The regulations are scheduled to enter into force in December. They will, among other things, prohibit offering virtual assets without permission. The Polish Financial Supervision Authority is to supervise the market. The project also provides for fines of up to several dozen million zlotys.
