New reporting obligations - VASP in Poland As of beginning 2024, VASPs in Poland will be obligated to fulfill new reporting obligations. Upon Polish Regulator (pl: “GIIF”) request, cryptocurrency company shall submit quarterly reports with statistical data. First report (for IV quarter of 2023) has to be submitted until 18/01/2024. Legal basis of new reporting obligations of Polish…
Small Payment Institution in Poland – new requirements As of 29 September 2023 and 1 January 2024 and 29 March 2024 new regulation connected with requirements of SPI in Poland comes to force. Significant amendments to Polish Payment Services Act are effective which regulate Small Payment Institution activity in far more strict way. New regulations apply toprocess of registration…
Polish crypto license for foreign company It has been over a year now since new regulations of Polish VASP Register were introduced to Polish law. My Law Firm in Poland significantly expanded experience and knowledge in Polish AML law area. In a natural way AML legislation has become my main specialization with particular emphasis on virtual currency business…
Crypto License in Poland - FAQ As of 1st November 2021, business in the field of cryptocurrency in Poland became regulated. As of this date, Cryptocurrency Register in Poland was activated. Therefore, obtaining crypto license in Poland has to be understood as entry into Polish Register of Virtual Currency activities.Some basic information about Polish Register of Virtual Currency…
Online currency exchange office in Poland As a rule currency exchange services in Poland is regulated business activity and requires entry into register. However, situation of online currency exchange office in Poland situation is completely different. Legal situation of currency exchange services Currency exchange business in Poland may be operated by person who has clear criminal record in respect of…
Cryptocurrency Business Register in Poland Conducting business activity in the field of cryprocurrencies in Poland becomes a regulated business shortly. Cryptocurrency entrepreneur will be obligated to obtain entry into Cryptocurrency Business Register in Poland. Entry into cryptocurency register shall be subject to certain formal conditions. New Polish AML regulation Firstly, it would do well to recall that, according to Article 1, paragraph…
5th AML Directive in Poland The Fifth Anti-Money Laundering Directive (5AMLD) will come into force on the 10th of January 2020 in Poland and other EU Member’s State. The new regulations are addressed among others to cryptocurreny business undertakings. There will be also new KYC obligations to be fulfilled by Polish obligated institutions in relation to contractors from high-risk third…
Beneficial Owners Register in Poland What is Central Register of Beneficial Owners in Poland? The Polish Register of Real Beneficiaries (pl: “CRBR”) is new system of information introduced in October 2019 in Polish law. One of the main reason of setting out the Register of Beneficial Owners in Poland is counteracting money laundering and terrorist financing. Polish Government…