Poland Launches National Media Campaign to Warn Against FX, Crypto Investments
- The TV campaign is scheduled for June, and it’ll be accompanied by radio ads and a video for social media.
With many people afraid of missing out on the chance to make easy money, Poland’s authorities are launching a campaign to educate its citizens on the potential risks involved when it comes to cryptocurrency and margin trading.
The country’s financial regulatory body, the Polish Financial Supervision Authority (KNF) is behind the campaign, which warns of the investment risks using advertisements on the country’s radio and television stations, and in print and digital media.
There’s no preview of these adverts, but the campaign is scheduled to go on air in June. The KNF has already allocated 1.75 million zloty ($474,886) for ads on radio and television and 615,000 zloty ($166,888) for the internet and social media ads.
Lack of proper regulations
“The aim of the campaign is to make sure that people who want to invest their money do not trust those who offer easy, safe and high profits. It is highly probable that such schemes may have the character of a financial pyramid, i.e., a situation in which the profit of a given person depends on Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term made by persons below the structure,” explains Jacek Barszczewski, spokesman of the Polish regulator.
The campaign also notes the lack of proper regulations in place which means that crypto assets are somewhat murky for investors to be kept safe, unlike strictly regulated traditional financial markets.
Earlier this month, Poland’s finance ministry published an update of the country’s tax code, stating that it will not tax income from transactions on cryptocurrencies. The MoF justified its taxing decision by stating that it considers conducting an in-depth analysis to better regulate the emerging industry.
The KNF also plans ICOs warning to be accompanied by a wider crackdown on unregulated margin trading. It says the fraud in such fields, which includes, among others, leveraged forex trading, is being committed by brokers that encourage investors to make seemingly simple bets on whether shares, currencies or other financial instruments will rise or fall in value.
Earlier in April, the Polish police carried out a raid on the Warsaw offices of Amplio Investments, a company that operates call centers for several forex brands, including CFD 1000, VORTEX ASSETS, and MIB 700. Authorities have arrested 20 of the company’s top managers and salespeople.
With many people afraid of missing out on the chance to make easy money, Poland’s authorities are launching a campaign to educate its citizens on the potential risks involved when it comes to cryptocurrency and margin trading.
The country’s financial regulatory body, the Polish Financial Supervision Authority (KNF) is behind the campaign, which warns of the investment risks using advertisements on the country’s radio and television stations, and in print and digital media.
There’s no preview of these adverts, but the campaign is scheduled to go on air in June. The KNF has already allocated 1.75 million zloty ($474,886) for ads on radio and television and 615,000 zloty ($166,888) for the internet and social media ads.
Lack of proper regulations
“The aim of the campaign is to make sure that people who want to invest their money do not trust those who offer easy, safe and high profits. It is highly probable that such schemes may have the character of a financial pyramid, i.e., a situation in which the profit of a given person depends on Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term made by persons below the structure,” explains Jacek Barszczewski, spokesman of the Polish regulator.
The campaign also notes the lack of proper regulations in place which means that crypto assets are somewhat murky for investors to be kept safe, unlike strictly regulated traditional financial markets.
Earlier this month, Poland’s finance ministry published an update of the country’s tax code, stating that it will not tax income from transactions on cryptocurrencies. The MoF justified its taxing decision by stating that it considers conducting an in-depth analysis to better regulate the emerging industry.
The KNF also plans ICOs warning to be accompanied by a wider crackdown on unregulated margin trading. It says the fraud in such fields, which includes, among others, leveraged forex trading, is being committed by brokers that encourage investors to make seemingly simple bets on whether shares, currencies or other financial instruments will rise or fall in value.
Earlier in April, the Polish police carried out a raid on the Warsaw offices of Amplio Investments, a company that operates call centers for several forex brands, including CFD 1000, VORTEX ASSETS, and MIB 700. Authorities have arrested 20 of the company’s top managers and salespeople.