Eternity Law International News Cryptocurrency Prospects in Poland

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.

You could be interested

Crypto license in Switzerland

State is quite staunch in its position as for crypto-currency, but there’re rigorous requirements for organizing a crypto-business. Crypto license in Switzerland is issued to firms following provisions of local legislative frameworks and rules of the regulatory body. Jurisdiction’s goal is to create a stable and reliable environment for crypto-currencies functioning and implementation of operations...

Development of DeFi solutions

Decentralized finance has been receiving special attention since the market crash in 2020. However, until now, not everyone understands the essence of this phenomenon. At the beginning, this name was given to analogs of traditional financial market instruments with a decentralized architecture. Now they are an autonomous public system that consists of decentralized services and...

Company registration in Hong Kong

Having an impeccable rank of a financial backer’s heaven, Hong Kong offering unmatched oportunities for establishments, looking to prosper in Asia and then some. As a worldwide monetary center point represented by a supportive of business organization, it investigates every possibility in its obligation to cultivating achievement. Nowadays, Company registration in Hong Kong became crucial...

Top 5 Best Jurisdictions for SPI license

When planning their trade, corporate co-founders actively look for places where they can open a legal entity and it’s easy to get a license to start your own payment business. To do this, they actively study the laws of the countries study their economic performance, and the requirements of local regulators. If co-founders decided to...

Technical support

The team of IT specialists, with which our team works, will help in solving most of the issues that arise in the process of accomplishing the assigned tasks. This advantage distinguishes our company among others, due to the specific needs of our customers.

Legal regulation of operations with cryptocurrencies in Hong Kong

Legal regulation of operations with cryptocurrencies in Hong Kong is a popular direction in the country. Great influence on the development of legal relations in Hong Kong had the United Kingdom, under the authority of which the territory remained since 1842. In this situation, the current special district of Hong Kong was 150 years old,...
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof

Kyiv

Baseina street, 7

London

Grosvenor Gardens, 52

Washington

1629 K St. Suite 300 N.W.

Vilnius

Gediminas Avenue, 44A

Tallinn

Kesklinna linnaosa, Tuukri 19

Edinburgh

Lochrin Square, 1

Nicosia

Jacovides Tower, 5 floor

Riga

Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard

Sydney

20 Martin Place

Porto

2609 Avenida da Boavista

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7