CRYPTOCURRENCY EXCHANGE LICENSE IN POLAND
From 31 October 2022, the activity consisting in: exchange of cryptocurrencies into other cryptocurrencies, exchange of cryptocurrencies into FIAT, intermediation in exchange, as well as maintaining cryptocurrency wallets is a regulated activity in Poland. Requirements for conducting this type of activity are contained in The Act of March 1, 2018 on the prevention of money laundering and financing of terrorism.
In order to conduct this type of business, it is required, among others, to obtain an entry in the Register of Activities in the field of Virtual Currencies kept by the Minister of Finance (Pol. Minister Finansów), on behalf of whom these functions are performed by the Director of the Tax Administration Chamber in Katowice (Pol. Dyrektor Izby Administracji Skarbowej w Katowicach). The entry in the register is commonly referred to as the "Polish Virtual Assets Services Provider (VASP) registration", "Polish Crypto Curency Exchange License" or "Polish Crypto Curency Exchange and E-wallet License".Because from legal point of view, the entry in the register is not a license, the term "Polish VASP registration is more proper.
The scope of the Polish VASP registration covers all the activities listed above. Companies entered in the register receive a certificate of entry. Their data is additionally published on the website of the Ministry of Finance. The website is available HERE.
The VASP registration may be obtained by entities which:
- confirmed by appropriate documents.
In the case of companies, the above mentioned obligations apply to directors, shareholders and beneficial owners.
More information on legal regulations related to crypto exchange business in Poland may be found in our knowledge base, in the section "CRYPTO EXCHANGE BUSINESS IN POLAND – FAQ"
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