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Cryptocurrency Prospects in Poland

Published:
May 6, 2020

Cryptocurrency Prospects in Poland are the latest news in recent times.

Without cryptocurrency, it is impossible to imagine modern life. Not only ordinary people are engaged in it, but also various organizations, companies. They go to the ICO and open up new mechanisms, projects in the field of innovative technologies.

However, working with bitcoins and other digital currencies is not as easy as it might seem at first glance. There are pitfalls here.

The main advantage of working with modern technologies is the lack of control by the state.

But at the same time, this is considered a big drawback, especially when doing business, when the activity is aimed at working with cryptocurrency.

Therefore, today developed countries have begun to actively address these issues.

States such as the United States of America, Japan, China and Ukraine are already drafting bills that could regulate the activities of companies specializing in digital currency.

ACTIONS OF POLAND IN THE FIELD OF CRYPTOCURRENCY

On our resource you can find an article where the opinion of the German regulator BaFin is presented. He does not consider cryptocurrency as a means of payment for a new generation (a replacement for fiat).

But, nevertheless, it is quite possible to use it in barter. At least here it will become an effective financial instrument.

But what did Poland do?

The fact is that this is the first state in the European Union to adopt relevant legislation allowing trade in cryptocurrency, mining (mining of bitcoins and other units).

The Main Department of Statistics classified such activities as trading and cryptocurrency mining as “other financial intermediation”.

That is, companies and organizations can officially engage in cryptocurrency and conduct various transactions.

You can also go to the resource www.biznes.gov.pl, where there is one interesting message.

A resource that allows individuals to make an exchange (cryptocurrency for fiat and vice versa) cannot be classified as a exchange or exchanger. Therefore, such portals are not issued a license agreement.

It should be noted that all steps taken in the field of cryptocurrency play a positive role, bringing its more complex use closer.

The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.

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