As the deadline for Q3 2024 approaches, Virtual Asset Service Providers (VASPs) in Poland are once again preparing to submit their quarterly reports to the General Inspector of Financial Information (GIIF). The statistical report must be submitted by 18/10/2024, and it remains a critical compliance requirement for all companies engaged in services in the field of crypto assets…
Preparing and reviewing the internal documents and policies of a CASP is the most crucial aspect of obtaining a CASP license in Poland under the MiCA, Regulation (EU) 2023/1114.This article explores:the systematic classification of documents developed by our Law Firm in Poland;description and guidelines about on one of the document categories: Internal Compliance Documents of CASP under MiCA…
One of the key requirements for obtaining a crypto license (CASP license) in Poland under MiCA is meeting capital requirements. Crypto Asset Service Providers must adhere to certain prudential requirements. These standards are set either as a fixed amount or as a proportion to the fixed overheads of crypto-asset service providers of the preceding year. Capital requirements amounts…
Recently, changes were published to the draft of law on crypto assets in Poland, which implements MiCA. Our Law Firm in Poland reviewed this draft law few months ago and published article. The fresh version of the act introduces important shifts that could impact existing VASPs in Poland and their ability to operate under the new regulatory framework.…
The deadline for submitting the mandatory quarterly report by VASPs in Poland for Q2 2024 is approaching within the next few days. Companies in Poland operating in the field of virtual currencies have to submit a statistical report by 18/07/2024. Obligation to submit quarterly reports by VASP in Poland Since 2024, Polish VASPs are required to submit quarterly…
Polish company is obligated to prepare, approve, and submit its financial statement for the previous fiscal year to the National Court Register (KRS). The deadline for fulfilling this obligation is July 15. The article presents key information regarding annual fiscal obligation of company in Poland. Timeframes Most Polish companies decide to use calendar year as their fiscal year.…
At the beginning of May 2024, there was an unexpected change to the website of the Commercial Register in Poland. The new webpage is also available at a new address: https://wyszukiwarka-krs.ms.gov.pl Commercial Register in Poland As before, access to the Commercial Register is completely free. It is the most important register in Poland, where all Polish companies can…
As of 2024, VASP companies in Poland are obligated to prepare and submit quarterly reports containing statistical data. The quarterly report for the first quarter of 2024 has to be submitted by April 18, 2024. This article includes detailed information about the technical aspects and instructions for submitting quarterly reports by VASP in Poland. Technical aspects 1. Submitting…
The draft of new Polish regulation on crypto-assets has been submitted for public consultation. New law is a result of the adoption by the European Parliament and the Council (EU) of Regulation 2023/1113 of 31 May 2023 on accompanying information for transfers of funds and certain crypt-assets and amending Directive (EU) 2015/849, as well as Regulation 2023/1114 of…
Link to Part I questions indicated in quarterly report of VASPs in PolandLink to Part II questions indicated in quarterly report of VASPs in PolandSection 3 (Grupa 3)Active clientsTotal amount of active clientsTotal amount of VASP’s active clients.Active client - a client to whom VASP applies simplified financial security measures, a client who has at least one product,…