Cryptocurrency traders in Poland are protesting against a government decision to levy a tax on all cryptocurrency transactions.
Traders have started an online petition saying that the tax regulations that restricted Poles’ access to the “constantly growing market of cryptocurrencies” were not consulted with any of the parties.
The petition signed by close to 3,000 people, describes the blockchain technology underpinning the digital currencies as “another of the revolutions, similar to the Internet.”
The signatories demand the release of the blockchain technology market and the abolition of all taxes related to this industry.
“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,” the petition reads.
Poland’s Finance Ministry published an interpretation of the country’s tax code last week, stating that income from transactions on cryptocurrencies is subject to income tax rules, with two tax brackets of 18 percent and 32 percent.
The tax authority also said that the act of selling or purchasing digital currencies should be considered a transfer of property rights, which is subject to a 1 percent levy on the value of the transaction, in line with rules governing civil law agreements.
By Siranush Ghazanchyan