SBSB Fintech Lawyers is a law firm that has been helping clients turn ideas into successful businesses in the blockchain, crypto assets, and financial technology sectors since 2013. Collaboration begins with analyzing the project and finding the optimal jurisdiction for company registration or licensing procedures. One of the important rules for an effective launch is compliance with regulatory requirements or established standards. This requires deep knowledge of legislation and regulatory nuances in different countries.
Legal Regulation of Crypto Market and Nuances of Crypto License in Poland
The Polish cryptocurrency market is dynamically developing, and the jurisdiction itself is becoming an attractive place for registering crypto startups. Details about the advantages of crypto licensing in Poland are described in the https://sb-sb.com/services/crypto/crypto-license/europe/poland/, but it should be noted that for legal activities in this jurisdiction, a company must obtain a permit after registering in a special business register. By obtaining the status of a Virtual Asset Service Provider (VASP), one can provide services related to virtual currencies and custodial crypto wallets.
In Poland, the crypto market is becoming increasingly regulated. New requirements in the regulatory framework pursue two goals — to make the activities of investors and various crypto platforms more transparent and competitive, while protecting users and new market participants. Polish legislation is currently being aligned with European Union standards, particularly the MiCA regulations. The Financial Supervision Authority will be responsible for overseeing the crypto sphere, including token issuers.
The MiCA regulation regarding crypto asset service providers will take effect on December 31, 2024. According to the planned changes, participants in the Polish crypto market need to:
- Register as crypto asset service providers (CASP).
- Obtain the license from the supervisory authority during the transitional period established by Poland (up to December 31, 2025).
- Ensure the protection of confidential information about clients and their transactions.
Violations of established rules, as well as operating without the appropriate authorization, will result in activity blocking, fines, and criminal liability.
Promising European Platform for Launching Crypto Startup
Despite some stringent changes, the Polish jurisdiction remains an excellent solution for business registration and successful development. The legalization of a crypto project demonstrates the transparency of activities, enhancing the reputation and trust of partners or investors. “Turnkey” consultations and legal support from SBSB lawyers will help avoid difficulties and problems related to regulatory requirements or changes in legislation. Experienced specialists will take care of document preparation in accordance with the requirements, allowing you to focus on launching the project in the new market.
