Polish Central Bank accused of paying vloggers to talk down crypto buzz

As with any new thing that threatens the status quo, the rise of cryptocurrencies has made many businesses, industry bodies and even high-level government officials worried about what Bitcoin and its alternatives could mean in the long-term.

So far we’ve simply seen a lot of hand-wringing and debate, as well as conflicting views on how to tax cryptocurrency investors, but the Polish central bank has gone one step further.

According to a report from The Merkle, the bank has been paying a prominent YouTuber to discredit Bitcoin as a bad investment. The vlogger, Marcin Dubiel, released a video claiming that he’d lost all of his money by betting on Bitcoin.

The video got more than 500,000 views, and Dubiel was paid almost $30,000 by the Polish central bank and the Financial Supervision Authority. The organisations admitted to the scheme earlier this week, and other YouTubers have allegedly been offered similar deals.

This obviously has huge implications for both the vlogger community and the responsibility of organisations to be honest and transparent when it comes to cryptocurrency. Time will tell whether this was just a blip, or the start of something more sinister.