Narodowy Bank Polski (the Polish Central Bank) and the Polish Financial Supervision Authority warn potential users against the risks associated with „virtual currencies” (such as bitcoin, litecoin, ether).
Narodowy Bank Polski and the Polish Financial Supervision Authority inform that „virtual currencies” are neither issued nor guaranteed by a country’s central bank, they cannot be considered to be money, which means they are neither legal tender, nor a currency, they cannot be used to pay taxes, and they are not widely accepted in retail and service outlets.
Trading in „virtual currencies” is not an infringement of Polish or European law. Possession of „virtual currencies”, on the other hand, is associated with a great deal of different types of risk of which the users should be aware prior to their investment.
Examples of types of risk are the following: risk associated with the potential loss of funds due to theft; risk associated with lack of guarantees; risk associated with lack of widespread acceptability; risk associated with the possibility of fraud; risk associated with significant price changes.
