REGISTRATION OF THE POLISH COMPANY IN THE REGISTER OF CRYPTO-CURRENCY COMPANIES
As mentioned, a company does not need to obtain a cryptocurrency license in Poland for legitimate cryptocurrency activities, but to register with the appropriate state business register.
The activities of Polish companies and persons involved in cryptocurrency are regulated by the Chamber of Tax Administration in Katowice, Poland.
Legal basis of the register of activities in the sphere of virtual currencies:
- Articles 129-129z of the Act of 1 March 2018 on combating money-laundering and the financing of terrorism.
- Resolution of the Minister of Finance, Funds and Regional Policy of 25 October 2021 on the appointment of a body of the National Tax Administration to perform the tasks of the body competent to maintain a register of activities in the field of virtual currencies.
- Resolution of the Minister of Finance, Funds and Regional Policy of 21 October 2021 on the filing of an application for registration in the register of activities in the sphere of virtual currencies and the notification of the suspension of this activity.
- Virtual currency activities are regulated and require registration in the registry.
List of companies and individuals who have received a cryptocurrency license in Poland
The law on the basis of which a cryptocurrency license is issued in Poland.
TAXATION OF A POLISH COMPANY
There is no special cryptocurrency tax, but crypto companies operating in Poland, depending on their legal structure, are liable to pay various already existing taxes, which in some cases can be saved, considering that Poland has double taxation agreements with more than 80 countries.
More information regarding taxation here.
Also, lawyers from Regulated United Europeprovide legal support for crypto projects and help with adaptation toMICA regulations.
Unlocking the Potential of the Polish Crypto Market: A Guide to Crypto Exchange Licensing 2024
Poland stands as a promising frontier for the cryptocurrency industry, with a growing interest in blockchain technology and a favorable regulatory stance. This guide explores the process of obtaining a crypto exchange license in Poland, detailing the regulatory framework, application process, and the advantages of establishing a licensed operation in this dynamic market.
Regulatory Environment for Crypto Licensing in Poland
In Poland, the regulation of cryptocurrencies is managed by the Polish Financial Supervision Authority (KNF), which ensures that all crypto-related activities align with national and EU financial regulations. A crypto exchange license in Poland allows entities to legally trade and exchange cryptocurrencies, a critical step for operating within the Polish market.
Types of Crypto Licenses in Poland
The Polish regulatory framework offers several types of crypto licenses, each serving different operational needs:
- Crypto exchange license in Poland: For platforms that offer exchange services between cryptocurrencies and fiat currencies.
- Crypto broker license in Poland: Allows companies to act as intermediaries in crypto transactions.
- Crypto trading license in Poland: For businesses engaging directly in the buying and selling of digital assets.
- VASP crypto license in Poland: Aimed at providers of a variety of crypto services, including but not limited to exchange and wallet services.
Requirements and Eligibility for Obtaining a Crypto License
Applicants must meet stringent criteria, including robust AML and KYC protocols, sound financial health, and proven business models. Documentation such as business plans, financial forecasts, and security protocols is essential for approval.
Cost Implications of Crypto Licensing
The crypto exchange license in Poland cost can vary depending on the scope of business activities and the specific license type. It’s crucial for businesses to factor these costs into their financial planning, although Poland is known for having potentially lower costs compared to other EU countries.
Benefits of Acquiring a Crypto License in Poland
Holding a crypto license in Poland opens numerous doors, including enhanced credibility with customers and investors, compliance with European regulations, and access to a broad market within the EU.
Crypto Investment Climate in Poland
Poland offers a vibrant environment for crypto investments, with competitive licensing costs—often viewed as the cheapest crypto license in Poland—and a tech-savvy population. This environment is conducive to growth and innovation in the crypto sector.
Market Entry Strategies
For those looking to enter the market more expediently, purchasing an existing crypto exchange license in Poland for sale may be beneficial. This option requires due diligence to ensure the license meets the specific needs of the business and is compliant with all regulatory requirements.
Conclusion: As the Polish government continues to refine its approach to cryptocurrency regulation, securing a crypto exchange license in Poland is an invaluable step for businesses aiming to capitalize on the opportunities within this emerging market. With the right preparation and understanding of the legal landscape, companies can effectively navigate this exciting sector.
