Bitbay, the largest crypto exchange in Poland, has decided to suspend its activities in the country as banks will no longer cooperate with the company. Bitbay will instead be conducted by a new supplier in the jurisdiction of the Republic of Malta, where local laws are more crypto-friendly.
According to the exchange, their business in Poland depends on cooperation with national banks, but the last Polish bank ready to provide services to Bitbay decided to cease its business with the exchange at the end of May.
The exchange will terminate the user contract to provide services, observing a notice period of one month which expires on September 17. After May 31, users will not be able to access their accounts in Polish złotys (PLN), but all other functions of BitBay will be active. Following the notice period, that is after September 17, users will only be able to withdraw funds. As of that date all trading activities on the exchange in Poland will be suspended.
Once BitBay resumes operations in Malta, users will be able to create a new account. The exchange will be conducted by a new supplier, but will use the bitbay.net domain name and BitBay trademark.