Yesterday’s first reading of the draft law on the cryptoactic market in the Sejm caused a hot discussion. MPs even submitted a request to reject the entire project, which shows the scale of controversy around planned regulations.
The project is to implement the EU MICA regulation (Markets in Crypto-Assts), but according to industry representatives it introduces much more restrictive regulations than European law requires. Kanga – one of the leading players on the Polish cryptocurrency market – calls for further dialogue. The company emphasizes that the current shape of the project, although it is to implement EU regulations, can suppress innovation and harm consumers.
The Sejm debate revealed deep divisions. MPs even submitted a request to reject the project, which shows the scale of controversy.
Kanga points to key fears
Kanga, as a cryptocurrency exchange operating since 2018, currently registered in Poland and observing AML/KYC standards, has been closely followed by the debate. The company has already participated in the work of the parliamentary team “Simple Taxes”, where it consistently raised its fears about the shape of future regulations. This time I also have some reservations. However, it is pleased that voices appreciating the potential of the industry appear in the Sejm.
The project, which is intended to implement the EU MICA regulation, introduces much more stringent regulations in many areas than European law requires. For example:
- Disproportionate amount of payment for supervision of up to 0.4% from each transaction. The problem is that Polish cryptoactic service providers would pay a payment calculated from income, not income. This will make all transactions simply more expensive on the market compared to foreign options.
- Doubts about the supervision: The project proposes the PFSA as a supervisory body. However, the industry has Fears about the current approach of the PFSA for innovative financial models and communication with the dynamic crypto sector.
Dialogue is necessary, not escape
We understand the need for regulation, transparency and security
– says Łukasz Żeligowski, co-ceo Kanga Exchange.
But regulations must be proportional and no more restrictive than in other European Union countries. Otherwise, we risk the fact that companies will simply run abroad and thanks to passporting from there they will serve Polish users, which will deprive our country of revenues from this dynamically developing industry.
Such a scenario would mean that Poland would lose revenues from this dynamically developing industry, while Polish users would still have access to services – but that provided by companies from other EU countries.
Kanga remains open to dialogue with the Sejm, supervisory authorities and industry. The goal is to develop solutions that will protect users and at the same time allow the development of financial innovations in Poland, without the favor of some players at the expense of others.
Łukasz Żeligowski – Co -Coo Kanga (PL)
Łukasz Żeligowski This is Co-CEO and Chief Technology Officer in Kanga Exchange-a leader who instead of chasing trends, appoints them. Thanks to extensive experience in IT infrastructure management and creating scalable solutions, he is responsible for the strategic technological development of one of the fastest growing cryptocurrency exchanges.
He manages teams responsible for software development, process automation and system security. Thanks to his approach, Kanga successfully implements innovations that increase the quality of service, utility and safety of the stock exchange.
Łukasz believes that modern technology is not only a code, but also the ability to react quickly, strategic thinking and building solutions that meet the real needs of customers. His work style combines a technological vision with operational effectiveness, and he treats each project as an opportunity to move the limits.
About Kang Exchange
Kanga Exchange is a leading cryptocurrency platform that was born in Poland and today serves the whole world. From 2018, Kanga’s mission has been making the crypto to be available to everyone and practically used in everyday life – not only as an investment, but also a real financial alternative. Along with the launch of Kanga Futures, the platform offers a dynamic “Futures” term for the trading of the “Futures” term, expanding its set of available financial tools.
Thanks to the strong presence in Central Europe and the growing global expansion, Kanga helps people easily navigate between crypto and cash, offering one of the largest on-frame and off-frame infrastructures in the region, covering over 800 physical points.
Kanga is more than just a cryptocurrency exchange. He is involved in education and practical adoption of cryptocurrencies. This includes a strong regional presence through social media education and a globally available platform in the form of the Kanga University Knowledge Zone. Kanga helps users understand the potential of digital assets, going beyond speculation, with an emphasis on daily use, democratic access to the world of finance and long -term benefits.
As Kanga is based on continuous development, it is based on its own ecosystem of available financial tools, such as Peer-to-Peer trade, services supported by cryptocurrencies and intuitive crypto replacement solutions for cash. Kanga makes crypto simpler and more useful – at any time, for everyone.
