Members of the Polish parliament have been promised each a copy of “The Bitcoin Standard” book to acquaint themselves with crypto
Members of the Polish parliament are being sent copies of 'The Bitcoin Standard' to better understand cryptocurrency as they work on regulating the industry. Funded by a crypto crowdfunding campaign, 560 copies of the book, written by Saifedean Ammous, will be sent to lawmakers alongside an open letter encouraging dialogue. The effort highlights the need for informed decision-making regarding Poland's delayed crypto legislation, which has faced criticism for potential overregulation that could harm local cryptocurrency businesses. Lawmakers are urged to consider the balance between financial innovation and regulatory control.
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Bitcoin Education Initiative for Polish Lawmakers
Members of the Polish parliament have been promised a copy of “The Bitcoin Standard” by Saifedean Ammous. This initiative, undertaken by Bitcoin enthusiasts in Poland, seeks to inform lawmakers about the cryptocurrency they are attempting to regulate. With the country still struggling to craft a legal framework for the crypto industry, the timing of this campaign is notable.
Purpose of the Initiative
The campaign aims to make Polish lawmakers more informed by distributing 560 copies of the book to members of both chambers of Parliament. Bitcoin.pl, a Polish crypto news source, emphasized the reasoning behind this effort: lawmakers need to understand what they are regulating.
The initiative is funded via Geyser, a crypto crowdfunding platform that supports various causes and promotes Bitcoin awareness in Poland. Accompanying each book will be an open letter inviting dialogue on cryptocurrency regulation, not intended as a political statement.
Importance of Understanding Bitcoin
The organizers believe “The Bitcoin Standard” is essential reading for anyone trying to grasp Bitcoin’s significance—not merely as a speculative instrument but as an alternative monetary system.
Jeremiasz Krok, writing for Bitcoin.pl, commented:
“One might be skeptical about this initiative – after all, one book won’t change the system. But it might make a few parliamentarians ask themselves: do I really understand what I’m voting on?”
Summary of 'The Bitcoin Standard'
First published in 2018, “The Bitcoin Standard: The Decentralized Alternative to Central Banking” is authored by Palestinian-Jordanian economist Saifedean Ammous, a notable figure in the crypto sphere. The book critiques fiat currencies and details the economics of cryptocurrencies, earning acclaim among Bitcoin enthusiasts and wider audiences alike.
Poland's Crypto Regulation Challenge
Poland is at a crossroads regarding cryptocurrency regulation. A long-delayed bill to implement the EU’s Markets in Crypto Assets (MiCA) framework has faced significant hurdles. Although it passed the Sejm (lower house) in September, it awaits approval by the Senate.
Critics claim several provisions of the bill go beyond EU requirements, risking overregulation that could force domestic crypto businesses to leave Poland, threatening the industry’s survival.
The Role of Leadership in Crypto Regulation
The crypto community’s last hope lies with President Karol Nawrocki, who assumed office in August and may veto the legislation prepared by Prime Minister Donald Tusk’s cabinet. Meanwhile, the government, including Deputy Finance Minister Jurand Drop, warns that without regulation, crypto companies will be unable to operate legally in Poland.
The Future of Cryptocurrency in Poland
The organizers of the book initiative assert that Poland must make a critical decision: embrace financial innovation and become a hub for the digital revolution, or repeat the mistakes of nations that have ignored advancements in finance. This pivotal moment could define the country’s future stance on cryptocurrencies.