Crypto.com is targeted by the supervisory authorities in Poland
The Polish financial supervisory authority (KNF) has published a public warning of Foris Dax MT, a company based in Malta, which occurs under the Crypto.com brand, as it is said to be unauthorized financial activities in Poland.
The KNF warning is not a ban, but serves as a warning for Polish investors to take into account possible risks related to the platform.
Tomek Kolodziejczuk, a Polish Bitcoin lobbyist from Alby, said that “so far only means that KNF publicly warns the Polish citizens” and noted that the warning was important, but the KNF did not put the company on a black list.
A spokesman for Crypto.com told CoinTelegraph that the team “is aware of an update of the KNF in Poland and is working closely with our lawyers to clarify all questions that the supervisory authority could have in relation to our services”.
What does the KNF warning mean?
In Poland, the KNF public warning list provides citizens about companies that may operate unauthorized financial activities.
Jacek Bardzczewski, a department head at the KNF, explained that according to Polish law- in particular in accordance with Article 178 of the Law on Trade in Financial Instruments- Companies- Companies or Investment Services, must have the corresponding licenses in order to legally do so. He led out:
“The KNF board has submitted a report about a suspected crime in accordance with Article 178 of the Law of July 29, 2005 on the trade in financial instruments (…) by the Foris Dax MT Limited, which uses the Crypto.com trade name and operates via the Crypto.com website.”
Crypto.com is the largest suspicious company
The KNF has informed the Warsaw regional prosecutor, so the further procedure now depends on the examination by the public prosecutor's office.
Kolodziejczuk told CoinTelegraph that there are currently “413 institutions that have issued such warnings on the same legal basis”, but noted that Crypto.com seems to be “the largest company” on the list.
The regional public prosecutor's office in Warsaw contacted CoinTelegraph, but has not received an answer until the time of going to press.
Crypto tours are already defending itself against Sec
In the meantime, the co-founder and CEO of Crypto.com, Kris Marszalek, has an official lawsuit against the US stock exchange supervision Sec on October 8th on X announced.
Marszalek said that the company's “unprecedented action” against the federal authority is justified in response to the regulatory enforcement of the SEC, which in his opinion “damaged more than 50 million American crypto investors”.
In its contribution, the CEO of Crypto.com also promised to provide the industry for legal security through suitable legal regulations.
