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…
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,…
Link to Part I questions indicated in quarterly report of VASPs in PolandLink to Part III questions indicated in quarterly report of VASPs in PolandSection 2 (Grupa 2)Cash transactions (Transakcje gotówkowe)Cash Overall, Cash withdrawals, Cash Transactions Does VASP perform cash deposits or withdrawals? Number of cash withdrawals. Value of cash withdrawals converted to EUR at the average NBP…
Quarterly report of VASP in Poland, final form At the beginning of 2024, final form of quarterly report of VASPs in Poland was published. Access to the form is reserved only via Polish Regulator online webpage system. Moreover form available is only in Polish language version. This article contains:Information about obtaining access to GIIF’s online system, including submitting…
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 VASPs According to Article 76 of Polish…
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 of Small Payment Institution – new formal requirements…
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 activity. In this article I will…