What are requirements to obtain the crypto exchange license in Poland?

There are legal and technical requirements for obtaining the crypto exchange license.

According to Polish AML law, the crypto exchange license may be obtained by entities which:

1. have no criminal record for certain types of crimes;

2. have knowledge or experience related to the virtual currency business; This requirement is deemed to be fulfilled in the case of:

• completion of training or a course covering legal or practical issues related to the activity in the field of virtual currencies or
• performing, for a period of at least one year, activities related to the activity in the field of virtual currencies

     - confirmed by appropriate documents.

In the case of companies, the above mentioned obligations apply to directors, shareholders and beneficial owners.

It is also worth to mention about technical requirements. The application for the crypto exchange license must be filed through dedicated online system and signed by a special type of electronic signature: qualified signature (podpis kwalifikowany), trusted signature (podpis zaufany) or personal signature (podpis osobisty). Moreover, the same form of signature is required in relation statements which need to by applicant or its legal representatives (in case of companies). As a consequence, all directors (management board members) must obtain one of the signatures specified above.