Crypto Regulating in Poland 2023

March 9, 2023
beautiful shot bastion ceglarski wroclaw poland

The popularity of crypto is growing rapidly. But the work of crypto-companies is complicated by the lack of a developed legal workspace in most states. In Poland, the government regulates digital currency.

Entrepreneurs who want to work in this field register corporations in the state and supply services to inner and foreign markets.

Crypto license in Poland

In Poland the Chamber of Tax Management continues to issue Polish cryptopermits, which are the equivalent of a crypto license. If you plan to offer crypto products or services you need a Cryptocurrency license in Poland, you will first need to enroll with the E-Currency Registry, which is part of the AML/KYC procedures.

An authorized Polish crypto biz can provide the following services:

  • Interchange of fiat currencies and cryptocurrencies;
  • Interchange of various cryptocurrencies;
  • Crypto interchange broker;
  • Granting and protection of electronic currency wallets.

Requests for cryptographic authorization can be yielded online through the Virtual Public Favors Program (ePUAP). It is considerable to observe that they must carry appropriate factual information and be accompanied by all necessary documents. However, any errors can be corrected, although this usually causes delays in the application process. If there is no reason to refuse the applicant, the permit is granted within 2 weeks from the date of ticket of the statement.

Adjustment of crypto in Poland

Crypto adjustment is moving towards the EU, of which Poland is a member. Consequently, in addition to Polish legislation, it is extremely important to keep an eye on the rapidly progressing European lawful organization that is being created to adjust crypto biz working in or from the Europe.

For example, the EU Commission is operating on new KYC demands for crypto-businesses that would restrict digital currency companies from concluding with non-hosted purses without first verifying the identity of their holders. The Committee has offered to abolish the present initial level of €1,000, which means that all crypto transactions will be dependent to KYC treatments in the close future.

Steps of Obtaining a crypto license in Poland

To obtain a virtual currency license and biz in country:

  • Enroll a firm in country with a real office space.
  • Open an account at a bank and deposit initial capital.
  • Think through AML and KYC (Know Your Customer) policies to securely receive and process payments.

Crypto-company in Poland

Enrolling a corporation in Poland in compliance with established rules is not as difficult as in many other European countries. Key points of biz registration:

  1. The new company must have an original name.
  2. After enrolling the company, it is necessary to open a bank account.
  3. Within seven working days from the moment of registration, it is necessary to submit info about the final beneficiaries to the special register. Failure to comply with this demand is subject to a fine of up to 1 million zlotys.
  4. Within twenty-one days from the moment of registration, you should send the completed NIP-8 form, which contains info about the company’s bank account and accounting, to the tax office at the place of registration.

How much does the Polish crypto permission cost?

The cost depends on the complexity of the project, for detailed advice you can contact our specialists.

Is crypto regulated in Poland?

Crypto actions in Poland are controlled by the law on combating AML.
Licensed crypto firms are needed to maintain a transaction enrollment, collect info and actions that have been taken to prevent the AML / CFT law.

Is crypto taxed in Poland?

There is no abstracted digital currency imposition in country, but all firms engaged in digital currency actions are required to pay existent taxes. 

Is crypto trading legal in Poland? 

Crypto, although not legally defined and not equated to fiat money, can be used in the territory of Poland on legal grounds. Mining, buying and selling of crypto-assets is not advised as a prohibited activity.

Related insights

Offshore bank license in Cayman islands

Commonly-chosen space for banking, largely dominating the rest due to high-quality private-banking. Offshore bank license in Cayman Islands gives entrepreneurs possibilities to provide banking-services legally, thereby strengthening assurance of partners and capital-holders. Offshore banking licenses Cayman Islands Presently, Caymans are a promising and desirable hub for Chinese establishments. Several new banks already applied for permits…

Read more 21.03.2023

Offshore bank license in Bahamas

Bahamas banking-niche possesses a status of a rapidly growing segment of economy. Banking facilities offering commercials only for people and structures without residence are considered non-residential companies for foreign exchange monitoring goals. Thus, it isn’t permitted for them to propose services for locals and businesses not previously getting Central Bank’s approbation. It makes it easy…

Read more 21.03.2023

Offshore bank license in Gambia

Having a permit such as offshore bank license in Gambia gives possibilities to offer accounts opening and management services, and to carry out all related operations related to them. Offshore-accounts in the Gambia give certain advantages. The list of such privileges includes: strong assets protection-mechanisms; higher interest-rate; low-rates or no taxation. How to get offshore…

Read more 16.03.2023

Offshore bank license in Labuan

Possessing such a permit as offshore bank license in Labuan requires passing through a complicated process. All local commercial structures are administered by Labuan FSA. This authority is in charge of managing jurisdiction’s International Center and acts as main local enforcement body. Firms intending to get permission for such activities apply in person to FSA….

Read more 16.03.2023

AEMI license in Cyprus

AEMI is a financial establishment that carries out electronic money circulation. According to Cyprus law, AEMIs must have an appropriate license from the Central Bank of Cyprus to ensure a high level of protection of client funds. Overview Cyprus legislation allows AEMI to carry out a wide range of financial operations, such as issuing electronic…

Read more 13.03.2023

AEMI license in Czech Republic

Today’s country has favorable legislation that makes it easy to register and conduct business in the country. The government seeks to create favorable conditions for entrepreneurial activity, which makes the Czech Republic one of the most suitable countries for obtaining a permission for an Electronic Money Institution. Authorized Electronic Money Institution (AEMI) in the Czech…

Read more 13.03.2023

AEMI license in Ireland

Ireland has one of the most developed virtual money industries in Europe. The country has several key players in the market such as PayPal, Stripe and Skrill. These firms issue virtual money and supply remittance favors to millions of customers worldwide. Overview The E-Money Act in country requires all electronic money issuers to be licensed…

Read more 13.03.2023

AEMI license in Poland

Today’s country, which has been a member of the EU from 2004, when supplying the issue of virtual money and remittance systems, must be controlled by the Second Directive of Europe and the demands of the GDPR adjustment. At the state level, the monetary controller (Financial Supervision Committee) has not formed liberal or proscriptive terms,…

Read more 13.03.2023

Crypto Regulating in Poland 2023

The popularity of crypto is growing rapidly. But the work of crypto-companies is complicated by the lack of a developed legal workspace in most states. In Poland, the government regulates digital currency. Entrepreneurs who want to work in this field register corporations in the state and supply services to inner and foreign markets. Crypto license…

Read more 09.03.2023

Cryptolicense in Germany

Germany is a favorite territory for investors searching to enroll a crypto business-company in Europe. This country is a highly-developed EU participant country with the fourth biggest economy worldwide. Country was one of the first states in the world to propose monetary establishment legal certainty permitting them to retain crypto assets. State’s crypto adjustment stipulates…

Read more 09.03.2023

Crypto registration in Isle of Man

In the past, many businessmens were interested in one of the tax-free jurisdictions – the Isle of Man. To date, Isle of Man administration agencies have passed a series of laws aimed at controlling crypto actions, mostly ICOs. If you are interested in acquiring a Isle of Man Crypto exchange permission , you should keep…

Read more 04.03.2023

UK Forex Brokerage License

The British FX brokerage permit is one of the most authoritative permissions in the world. In order to complete the operation of achieving a FX broker license in the UK, the firm must be enrolled in the country. An organizational and lawful form such as a limited liability corporation (LLC) is the best choice. Regulation…

Read more 03.03.2023