Poland refuses of “Irrational” Crypto Tax

The officials of Poland have understood how inapplicable their decision to tax all crypto transactions really is “accepts the irrational effect” of the tax
21 May 2018   1895

The Polish Finance Ministry is going to publish a new regulation to “temporarily abandon” the tax on transactions with digital currency. It also intends to provide “in-depth analysis” and develop “system solutions” to regulate this particular economic space. This step arrives after an interpretation of the tax code in April caused angry reactions from the country’s crypto community, an online petition, and even protests in Warsaw.

The Ministry of Finance has accepted the irrational effect of the PCC tax on cryptocurrencies. So far, the Ministry hasn’t done anything about the PCC, except for recognizing cryptocurrencies as property rights, which automatically means obligation to pay the civil law transactions tax. 
Paweł Gruza
Deputy Finance Minister, Poland

Gruza meant a controversial decision to tax crypto earnings and profits, that was declared less than a month before the end of the tax campaign in Poland on April 30. In an official position published last month, Ministerstwo Finansów claimed that Polish residents should report on their tax returns all revenues from trade and exchange for cryptocurrencies like bitcoin, litecoin and ethereum.

After this realization, plans to tax crypto transactions have been ceased. The new regulation on the matter is anticipated by June 15.

Bitifinex to Cooperate With Bitrefill

Exchange's users will be able to purchase products from the Bitrefill catalog with help of Lightning Network
05 December 2019   149

The Bitfinex cryptocurrency exchange has entered into a partnership with the service of replenishing mobile accounts and gift certificates Bitrefill.

Using Lightning Network (LN) technology, Bitfinex users will be able to purchase products from the Bitrefill catalog, which includes more than 2,000 digital gift cards and options for replenishing mobile accounts.

As soon as the user pays for the goods using Bitcoin, Bitfinex and Bitrefill automatically settle through the LN network, which makes transactions cheaper and much faster.

Bitcoin’s use as a means of payment represents an important milestone in the inevitable journey towards mass adoption. This is why the Lightning Network is so important. As an exchange, Bitfinex is at the forefront of developing solutions utilizing this technology.

Paolo Ardoino

CTO, Bitfinex

On December 3, Bitfinex integrated payment support through the Lightning Network.