Cryptocurrencies are becoming more and more popular around the world, and Poland is not staying away. Obtaining a cryptocurrency license in Poland may seem difficult, but by following certain steps, this process can be simplified.
Why do I need a cryptocurrency license in Poland?
A cryptocurrency license is required for legal activities related to cryptocurrencies, such as the exchange, storage and management of cryptocurrency assets. In Poland, legislation seeks to regulate this market in order to protect the interests of users and prevent illegal activities. For companies seeking to work in the legal field, obtaining a license is a mandatory step.
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Stages of obtaining a license
To get a license for cryptocurrency in Poland, you need to go through the main stages:
- Company registration. The first step to obtain a Poland crypto license is to register a company in Poland. This requires the choice of the organizational and legal form of the company, the preparation of constituent documents and registration in the national register of entrepreneurs. It is important to take into account that companies dealing with cryptocurrencies must meet certain requirements established by Polish law.
- Preparation of documents. The next step is to prepare the package of documents required to apply for a license. This package includes: The company’s Founding documents, Information about the owners and managers of the company, a Business plan describing the company’s activities in the field of cryptocurrencies, Anti-Money Laundering (AML) and Terrorist Financing (CTF) Policies, and other documents confirming the company’s compliance with legal requirements.
- Submission of the application. After preparing all the necessary documents, you should submit an application to the appropriate government agency. In Poland, this is handled by the Financial Supervisory Authority (KNF). The application must be carefully completed and accompanied by all required documents. It is important to keep in mind that the application review process may take several months, so you should prepare for possible delays.
- Checking and obtaining a license. After submitting the application, the verification process begins. The State body evaluates the submitted documents and may request additional information or clarifications. If the verification results are positive, the company receives a license to carry out activities related to cryptocurrencies.
Requirements for companies
To obtain a license, companies must meet a number of requirements. These include:
- Availability of sufficient capital to conduct business.
- Transparent ownership structure.
- Compliance with anti-money laundering and terrorist financing requirements.
- Availability of qualified specialists in the team.
In addition, companies must conduct their activities in accordance with Polish law and regularly submit reports to the supervisory authorities.
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Advantages of licensing in Poland
Poland offers a number of advantages for companies that receive a cryptocurrency license. These include:
- A transparent and predictable legal environment.
- The opportunity to work within the framework of the European Union.
- Access to a wide market of cryptocurrency users.
- Government support in matters of regulation and development of the cryptocurrency market.
Obtaining a cryptocurrency license in Poland is an important and responsible process that requires careful preparation and compliance with all legal requirements. A transparent and predictable legal environment, access to the European market and government support make Poland an attractive country for conducting cryptocurrency business. If you plan to engage in activities in this field, it is important to consider all the stages and requirements in order to successfully obtain a license and start your work.