What are the regulators competent for cryptocurrency exchanges in Poland?
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What are the regulators competent for cryptocurrency exchanges in Poland?

  • MINISTRY OF PUBLIC FINANCE

 

According to the Article 129p of the AML Act, the competent authority for the register of activities in the scope of virtual currency (the crypto exchange license) is the ministry responsible for public finance. Currently, the authorities of the Ministry of Finance were delegated to the Director of the Tax Chamber in Katowice.

 

The tasks of the authority competent for the register of virtual currency activities shall include:

 

  • keeping this register and determining organizational conditions and technical methods of its keeping;
  • processing of information on entities entered into this register;
  • considering applications for entry in this register, updating entries and deleting entities from this register;
  • imposing monetary fines, referred to in Article 153b, on entities conducting activity in the field of virtual currencies, which have not fulfilled the obligation to obtain an entry in this register.

 

  • GENERAL INSPECTOR OF FINANCIAL INFORMATION (GIIF)

 

GIIF is Polish AML regulator. The responsibilities of the GIIF include taking action to prevent money laundering and the financing of terrorism.

 

On the other hand, crypto exchanges are, as a rule, not subject to supervision of Polish Financial Market Regulator: Polish Financial Supervisory Authority (Komisja Nadzoru Finansowego).

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