EU rules are damaging to the crypto space, but nothing can prevent Poland from leading Europe as the most favorable jurisdiction, according to Sławomir Mentzen, the Bitcoin proponent running to become the next Polish president.
Speaking to local crypto media ahead of the first round of Poland’s presidential election on Sunday, the pro-crypto candidate indicated he is still supportive of establishing a national Bitcoin reserve, which would signal to the world that Poland is a crypto-friendly place.
Poland to be EU’s Bitcoin leader if fanboy Mentzen wins
The campaign to elect Poland’s new president is in its final hours with a first round of voting scheduled for Sunday, May 18. While not the only one who has expressed positive views about cryptocurrencies in the past months, the far-right nominee, Sławomir Mentzen, has been the most vocal Bitcoin backer.
In an interview with the Bitcoin.pl crypto news portal this week, he spoke his mind on some crypto-related topics, including Europe’s new regulations, which Warsaw is yet to implement, and the establishment of a strategic cryptocurrency reserve in Poland that he pitched last year.
Mentzen accused the European Union of being “very aggressive” in taking over more and more competencies of EU nations in its push to tighten rules and close any regulatory loopholes existing in individual member states.
He warned that the EU’s new Markets in Crypto Assets (MiCA) law will be “very damaging” to both entrepreneurs in the crypto industry and consumers of their services, lashing out at Polish politicians for having the “terrible habit of agreeing to everything” proposed by Brussels.
The nationalist is convinced that the new crypto rules will weaken the Union and his country. However, Poles should “squeeze as much as we can out of these regulations” as they also allow firms to work across the bloc with a single license.
“Nothing stands in the way of Poland” to become the most attractive country for crypto businesses applying for pan-European authorization, Mentzen emphasized. Companies should be encouraged to register in Poland as they will pay taxes and hire staff, he insisted and stated:
“We could be the one-eyed king of the blind in Europe, who respects European regulations with disgust, but does it in such a way that all companies have absolutely no doubts about which EU country to choose for their headquarters.”
Bitcoin reserve to signal Poland is a friendly place for crypto firms
In November, Sławomir Mentzen took to X to promise he would turn Poland into a low-tax crypto haven if elected head of state in May. He also suggested that the country establish its own Bitcoin reserve, mirroring a campaign promise by President Donald Trump.
Poland should create a Strategic Bitcoin Reserve.
If I become the President of Poland, our country will become a cryptocurrency haven, with very friendly regulations, low taxes, and a supportive approach from banks and regulators.
BTC to the Moon! pic.twitter.com/izKc4spkkV
— Sławomir Mentzen (@SlawomirMentzen) November 17, 2024
Asked about his proposal now, he started with a disclaimer that despite his personal belief in Bitcoin, it remains a high-risk asset. “Therefore, I do not conclude that Poland will invest in it such large amounts that this reserve in itself would result in significant earnings,” he explained.
“The crypto market is currently too young and too unstable to play a key role in financial stability at the national level,” Mentzen elaborated.
Nevertheless, he is positive that if Warsaw creates a Bitcoin reserve, it will send a strong signal to any company wanting to operate in Europe that Poland is a friendly place for cryptocurrencies. It will be a game changer for the Polish crypto sector, he added, noting:
“Since we have the Norwegian krone in the National Bank of Poland’s strategic reserve, we should have BTC all the more.”
When they head to the ballot box on Sunday, Poles will be able to choose between at least three candidates with pro-crypto statements on record, including the frontrunner, Warsaw mayor Rafał Trzaskowski, backed by the ruling centrist Civic Coalition of Prime Minister Donald Tusk.
Sławomir Mentzen, nominated by the far-right Konfederacja alliance, ranks third in the latest polls published by Politico. He is the only major candidate explicitly mentioning cryptocurrencies in his program while promising economic freedom.
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