BitMarket24 goes to the list of KNF warnings

BitMarket24 sp. Z oo with its registered office in Krakow and BM24 LTD with its registered office in London are new items on the public list of warnings of the Polish Financial Supervision Authority. BitMarket24.pl, which belongs to the aforementioned companies, is one of the best-known Polish cryptoclicky exchanges enabling the exchange of popular digital currencies.

BitMarket24 on the list of warnings

The website has been operating since 2014 and enables the exchange of cryptocurrencies - primarily BTC, but also BCC, BTG, LTC. The companies were placed on the list of warnings and against them, the PFSA Office sent notifications to the prosecutor's office on suspicion of committing a crime under Art. 150 sec. 1 of the Payment Services Act, referring to unauthorized activity in the provision of payment services or in the field of issuing electronic money. The notifications were sent to the District Prosecutor's Office in Krakow.

The Krakow District Prosecutor's Office, to which the notification was received, will investigate whether BitMarket24 operates in accordance with the applicable provisions of Polish law. The KNF Office in its announcement also provided general information that running a cryptocurrency exchange may involve the performance of activities covered by the relevant provisions regulating the activities of entities on the financial market.

Therefore, such entities should have appropriate permits issued by the PFSA, e.g. permits to perform payment services in the field of maintaining payment accounts and performing payment transactions specified in the Payment Services Act.

It is the second Polish cryptocurrency exchange listed on the list of warnings. The first such company was BitBay from Katowice, which soon decided to transfer its interests to Malta. Will it be the same in this case?