Quarterly report of VASP in Poland, final form

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:

  1. Information about obtaining access to GIIF’s online system, including submitting identification form of Polish VASP;
  2. list of questions in quarterly statistical report with chronological order in following form:
  3. at the beginning question is indicated translation and elaboration;
  4. below question is print screen from form with google translation of that question into English language.
Deadline of submitting quarterly form for 4th quarter of 2023 is 22 January 2024. Form has to be submitted also by Polish VASPs which have not yet started to conduct business activity.
 

Submitting identification form of VASP

First of all, to submit quarterly form, identification of VASP in online system of Polish regulator has to be conducted. Therefore, first step is submitting identification form in GIIF website system: https://www.giif.mofnet.gov.pl/#/glowna. System is working on business days, 7:00-17:30. Moreover, as of my best knowledge it blocks IP from other than Polish state.

Identification of VASP may be submitted only by person who has qualified electronic signature. Polish Trusted Profile (electronic signature used to incorporate VASP) is not enough in that regard. Moreover, I am not able to confirm if qualified electronic signatures issued by providers outside of Poland will work with GIIF’s online system. Here is link to Polish provider of qualified electronic signature which is compatible with GIIF’s online system: https://szafir.kir.com.pl/eshop-web/en/items.html?id=3

In identification form has to be provided following information:

1) name (company), including determining of the organisational form of the obligated institution;
2) NIP of the obligated institution;
3) determining of the type of activity carried out by the obligated institution;
4) address of the registered office or address of the business activity;
5) name, surname, position, telephone number and address of electronic mailbox of the employee referred to in Article 8 of Polish AML Act (AML Officer);
6) names, surnames, positions, telephone numbers and addresses of electronic mailboxes of other employees responsible for the implementation of the provisions of the Act, whom the obligated institution is willing to indicate for contacts with the GIIF (contact persons);
7) name (company) and NIP or name, surname and PESEL of the intermediary entity referred to in Article 73(1) − in the case of using the intermediation of this entity.

Submitting quarterly form by VASP

As with identification form of VASP in Poland, quarterly form may be submitted only by person who has qualified electronic signature and only via GIIF’s online system. Moreover, it may be submitted only by person indicated in VASP identification form as AML Officer or contact person.

Quarterly form is available only after identification form is properly submitted and only after logging into GIIF’s online system. Logging take place by using qualified electronic signature.

Quarterly form contains around 300 questions. Final number of questions depends on VASP factual business activity in the field of virtual currencies:
a) exchange between virtual currencies and means of payment;
b) exchange between virtual currencies;
c) intermediation in the exchange referred to in letter a and b;
d) keeping maintaining the accounts in electronic form, of identifying data enabling the entitled persons to use virtual currency units, including the conduct of transactions of their exchange.

Questions in quarterly form are grouped into interactive sections. Each section has to be manually fulfilled.

Deadline of submitting quarterly first form for 4th quarter of 2023 is 22/01/2024

Final form of quarterly report

Important notes and definitions:

  1. VASP – the obliged entity which is submitting quarterly report;
  2. value of transactions converted to EUR means a question about the sum of all transactions from a given quarter after converting the value of each transaction to EUR from the transaction date;
  3. Polish AML Act at it latest official English version
  4. active client means a client to whom VASP applies simplified financial security measures, a client who has at least one product, or has active access to transaction services, or can complete a transaction without any additional activities.

Section 1 (Grupa 1)
AML Activities (Działalność AML)
AML Activities letter A – exchange between virtual currencies and means of payment

  1. Is entity entered in the VASP Register, related to conducting the activity mentioned in Article 2(1)(12)(a) of the Polish AML Act – (exchange between virtual currencies and means of payment)?
  2. Does the entity actually conduct the activity mentioned in Article 2(1)(12)(a) of the law?
  3. Date of commencement of the activity mentioned in Article 2(1)(12)(a) of the law?
  4. Are there limits for clients regarding the number of transactions they can conduct with the VASP in the context of the activity mentioned in Article 2(1)(12)(a) of the law?

Available answers: Yes / No
Select limit type: yearly, quarterly, monthly, daily, hourly.
Limit value (in the case of different limits for different types of transactions, enter the highest limit): Enter Value

  1. Are there limits for clients regarding the value of transactions they can conduct with the VASP in the context of the activity mentioned in Article 2(1)(12)(a) of the law?

Available answers: Yes / No
Select limit type: yearly, quarterly, monthly, daily, hourly.
Limit value converted to EUR
(in the case of different limits for different types of transactions, enter the highest limit): Enter Value


Section 1 (Grupa 1)
AML Activities (Działalność AML)
AML Activities letter B – exchange between virtual currencies

  1. Is entity entered in the VASP Register, related to conducting the activity mentioned in Article 2(1)(12)(b) of the Polish AML Act – (exchange between virtual currencies)?
  2. Does the entity actually conduct the activity mentioned in Article 2(1)(12)(b) of the law?
  3. Date of commencement of the activity mentioned in Article 2(1)(12)(b) of the law?
  4. Are there limits for clients regarding the number of transactions they can conduct with the entity in the context of the activity mentioned in Article 2(1)(12)(b) of the law?

Available answers: Yes / No
Select limit type: yearly, quarterly, monthly, daily, hourly.
Limit value (in the case of different limits for different types of transactions, enter the highest limit): Enter Value

  1. Are there limits for clients regarding the value of transactions they can conduct with the entity in the context of the activity mentioned in Article 2(1)(12)(b) of the law?

Available answers: Yes / No
Select limit type: yearly, quarterly, monthly, daily, hourly.
Limit value Value converted to EUR
(in the case of different limits for different types of transactions, enter the highest limit): Enter Value


Section 1 (Grupa 1)
AML Activities (Działalność AML)
AML Activities letter C intermediation in the exchange between virtual currencies and means of payment and between virtual currencies

  1. Is entity entered in the VASP Register, related to conducting the activity mentioned in Article 2(1)(12)(b) of the Polish AML Act – (intermediation in the exchange between virtual currencies and means of payment and between virtual currencies)?
  2. Does the entity actually conduct the activity mentioned in Article 2(1)(12)(c) of the law?
  3. Date of commencement of the activity mentioned in Article 2(1)(12)(b) of the law?
  4. Are there limits for clients regarding the number of transactions they can conduct with the entity in the context of the activity mentioned in Article 2(1)(12)(c) of the law?

Available answers: Yes / No
Select limit type: yearly, quarterly, monthly, daily, hourly.
Limit value (in the case of different limits for different types of transactions, enter the highest limit): Enter Value

  1. Are there limits for clients regarding the value of transactions they can conduct with the entity in the context of the activity mentioned in Article 2(1)(12)(c) of the law?

Available answers: Yes / No
Select limit type: yearly, quarterly, monthly, daily, hourly.
Limit value, Value converted to EUR
(in the case of different limits for different types of transactions, enter the highest limit): Enter Value


Section 1 (Grupa 1)
AML Activities (Działalność AML)
AML Activities letter D – keeping maintaining the accounts in electronic form, of identifying data enabling the entitled persons to use virtual currency units, including the conduct of transactions of their exchange

  1. Is the entity in the register of activities related to virtual currencies, as mentioned in Article 129m of the law, registered for conducting the activity specified in Article 2(1)(12)(d) of the law – (keeping maintaining the accounts in electronic form, of identifying data enabling the entitled persons to use virtual currency units, including the conduct of transactions of their exchange)?
  2. Does the entity actually conduct the activity specified in Article 2(1)(12)(d) of the law?
  1. What is the commencement date of the activity specified in Article 2(1)(12)(d) of the law?
  1. The limit on the number of transactions using the account referred to in Art. 2 section 2 point 17) letter e) run by IO for customers

Available answers: Yes / No
Select limit type: yearly, quarterly, monthly, daily, hourly.
Limit value (in the case of different limits for different types of transactions, enter the highest limit): Enter Value

  1. The limit on the value of transactions using the account referred to in Art. 2 section 2 point 17) letter e) run by IO for customers

Available answers: Yes / No
Select limit type: yearly, quarterly, monthly, daily, hourly.
Limit value, Value converted to EUR (in the case of different limits for different types of transactions, enter the highest limit): Enter Value

  1. Limit on the number of accounts

Available answers: Yes / No
Limit value: Enter Value

  1. Balance limit

Available answers: Yes / No
Limit value: Enter Value