Crypto Regulating in Poland 2023

Published:
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

Top 6 Best Offshore Jurisdictions for crypto:

In recent years, the cryptocurrency field has witnessed exponential growth, attracting investors and enthusiasts alike from all corners of the globe. However, navigating the legal landscape surrounding cryptocurrencies can be complex, with adjustments varying significantly from one lawfulment to another. For those looking to establish a crypto-related business or simply seeking a favorable adjustment circumstances…

Read more 08.04.2024

What is important to know when buying Property in Turkey?

Whether you’re considering purchasing a holiday home, an investment in property, or relocating permanently, buying real estate in Turkey can be a rewarding venture. However, like any possessions purchase, it requires careful consideration and research to ensure a smooth transaction and avoid potential pitfalls. In this guide, we’ll explore the key factors to keep in…

Read more 21.03.2024

Top 6 Promising Countries for Real Estate Investment in 2024

In the dynamic world of Investment in Real estate, identifying promising terminus is essential for maximizing returns and mitigating risks. As we navigate through 2024, several states stand out as hotspots for real-estate funding, offering lucrative possibilities and favorable field conditions. From emerging fields to established hubs, investors are eyeing these top six states for…

Read more 14.03.2024

Forex dealer license in Samoa

Admission to foreign-sourced currencies deals is granted to those financially-set establishments, monetary transfer operators and exchange-offices officially-licensed by local regulative authorities – Central Banking facility. Possession of such a permit grants  rights to spread currencies exchanging services for capital-holders and corporate clients.  Possibilities and privileges of Forex-business in Samoa Conducting brokerage-activities on FX-platforms provides stable…

Read more 26.02.2024

Fund in Luxembourg

Because of its privileged location in central part of Europe and widely-extensive expertise in field of financial tools and mechanisms, this duchy remains in demand among entrepreneurs wishing to establish funding structures locally. Commonly-choosing status of the center in EU and second most-considered essential on global level after USA is because of well-developed regulative basis;…

Read more 26.02.2024

Forex Dealer License in Solomon Islands

In a rapidly-evolving financial environment, forex-markets are a rather complex and dynamic space. For those seeking to launch a brokerage firm in this country, getting foreign exchange dealer license is mandatory in accordance with local national laws. Forex trading legal in Solomon Islands: preparation for operation Getting money changer license starts directly with officially-approved registration…

Read more 26.02.2024

Crypto regulation in South Africa

Jurisdiction is quite welcoming and supportive of cryptoassets and promotes their active implementation in local market-spaces. Regulative framework-basis for crypto-sphere is quite ambiguous, nevertheless, any activities in crypto-market are covered by strict control. Country doesn’t set a single law governing crypto-currencies, but there’re a plenty of different normative acts applying to this niche, incl. Exchange…

Read more 26.02.2024

MSB license in Dubai

Dubai International Financial Center is rapidly becoming recognized as a premier hub for MEASA. According to the Global Index, published in March 2023, Dubai occupies a leading position among financial centers in the region. Over the past five years, Dubai has consistently maintained its high position worldwide, specifically for capital-holders wishing to enter financial services…

Read more 29.01.2024

Crowdfunding in Portugal

Such schemes in Portugal continue to expand. Country’s regulator has registered six management companies operating crowdfunding resources, predominantly in area of lending. As industry develops and the number of participants grows, changes are possible due to the adoption of the Regulation on European agents providing crowdfunding services for business-projects. There may also be a move…

Read more 24.01.2024

How to begin a Cook Islands Trust in 2023

In the realm of multinational affluence governance and acquisition safety, trust-companies have long been regarded as powerful tools for safeguarding purchases and ensuring monetary privacy. The Cook Islands, nestled in the heart of the South Pacific, has emerged as a jurisdiction of choice for establishing trust-companies due to its robust lawful substructure and favorable adjustments….

Read more 22.12.2023

Investment fund in UAE

The United Arab Emirates (UAE) has emerged as a global monetary powerhouse, renowned for its dynamic enterprise circumstances, strategic location, and depositor-friendly policies. One of the key drivers of the UAE’s monetary success is its robust acquisition landscape, which includes a diverse range of possibilities for local and global depositors. In this article, we will…

Read more 19.12.2023

Forex License in Estonia

In recent years, Estonia has emerged as a favorable destination for enterprises seeking to establish themselves in the European Union. The country’s progressive adjustment circumstances, digital infrastructure, and business-friendly policies have attracted a diverse range of industries, including the economic sector. Among the economic favors gaining traction is the FX(foreign exchange) industry, and many entrepreneurs…

Read more 15.12.2023