Polish Financial Authorities admitted to have spent taxpayer’ money on anti-cryptocurrency propaganda videos. The social media campaign, costing 90,000 Polish złoty (around $27,000), was carried out by Poland’s Central Bank in cooperation with Financial Supervision Authority (Komisja Nadzoru Finansowego – KNF) and a Polish Youtube partner network.
Part of the funds apparently went to a Polish youtuber prankster, who created a video called “STRACIŁEM WSZYSTKIE PIENIĄDZE?!” (I LOST ALL MONEY?!). Video shows investing in cryptocurrencies in a very biased and negative way.
What about transparency?
Interestingly enough – the video hasn’t been marked as either “paid promotion” or containing product placement. There is also no mention of it being a part of campaign paid for by the authorities.
The case came to light after an individual sent a request for information to the Central Bank of Poland (NBP) regarding campaigns financed by the NBP. In the letter dated February 9th, NBP confirmed that it “carried out a campaign on the issue of virtual currencies in social media.”
The Youtube video, which already amassed over 0.5 million views, shows the main character losing his money due to investing in cryptocurrency. It ends with the “EVIL” crypto-investor laughing, while counting the fiat bills, he made in the process.