Last week the Finance Minister of Poland announced that the income from the cryptocurrency needs to follow income Tax rules. The Finance minister then published an information which consisted the country’s tax code. The information consists of two types of tax brackets 18% and 32% which was disturbing for the cryptocurrency traders of Poland.

According to Bloomberg, The cryptocurrency traders in Poland started to protest against the government’s decision and with respect to that they signed an online petition.

The petition is signed by 2,669 people which states that Poland is a wonderful nation that has one of the best blockchain programmers and as a result of the government’s actions this might cause loss to them as well as the traders who are trading in Poland. It also says that blockchain technology is a revolution similar to the internet and they are demanding the abolition of all taxes levied on the crypto markets.

“We want to be active creators of this technology, not just its passive recipients in the coming years, from centralized Polish institutions or foreign entities.” according to the petition.

The Prime minister Mateusz Morawieki said that Cryptocurrency is a “Ponzi Scheme” which means he says it is a form of fraud. But he might be saying all this to change the mind of the poles people from investing in cryptocurrencies.

On Monday the Finance Ministry said on their website that they are trying to achieve a “more convenient” system of taxation for cryptocurrencies.

Kindly let us know what you think about it. Will the government listen to the people of Poland or what would the outcome of this?

Share this post