Poland has strong cryptocurrency regulatory laws, primarily enforced to fight against terrorism financing and money laundering, as well as the 4th and 5th EU Directives on financial market supervision. Essentially, such laws are important in ensuring that Poland’s cryptocurrency market operates transparently and securely, thereby fostering investor confidence and market stability.
The Polish Financial Supervision Authority (KNF) is the leading regulator for these activities. Individuals as well as companies must pass through an authorization procedure to engage in businesses related to virtual currencies, obtaining essentially a permit equivalent to a cryptocurrency license. This involves record and subsequent inclusion in the Ministry of Finance’s registry of crypto companies. Let’s learn more about the Poland crypto license and how to get it!
These include:
Poland’s progressive regulatory approach offers several major advantages for crypto businesses, including:
To register a company and obtain a cryptocurrency license in Poland, one has to follow specific steps stipulated under the Polish cryptocurrency regulations:
The registration process has several requirements before it proceeds. Directors in a firm must have relevant education and work experience in the cryptocurrency industry. From the first day of registration, the company should keep accurate accounting information and financial statements. Registered companies are required to:
The cost of acquiring a cryptocurrency license in Poland is comprised of several items, which include:
This will largely depend on different variables associated with each particular situation or need to be expressed by companies; however, overall costs could range from several thousand up to tens of thousands of euros or even more than that because it all depends upon presenting firms’ special aspects.
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