If you are looking for Crypto Currency License Services, you should know that you have a lot of options. For one, you can choose from a variety of law firms in Poland. The regulation was designed to address the risks of cryptocurrencies and crypto tokens. A panel from Dentons, with speakers from the media, technology, and securities industries, discussed legal issues related to these technologies.
Crypto Currency License
Before setting up a virtual currency business in Poland, the company must register with the Virtual Currency Registry. The registry oversees the storage of encrypted customer keys. Its role is to prevent money laundering and terrorism financing. As part of the registration process, the entrepreneur must complete the required documentation. This includes certification of knowledge and experience in the field of cryptocurrencies. These requirements are a part of the new state registry of cryptocurrency enterprises. If the applicant fails to submit the required documentation, they may be charged with administrative penalties. The maximum fine is PLN 100,000. The applicant can apply for reconsideration by the Minister of Finance. Alternatively, the applicant may file an appeal directly to the Regional Administrative Court.
Aside from the registration requirement, the entrepreneur is also obligated to carry out financial security measures. Specifically, a person must prove that they do not possess a criminal record or that their transactions are not illegal. They also have to notify Polish authorities of their suspicion of a crime. In order to meet the registration requirement, a company must have a director with at least one year of experience in the crypto industry. The director’s background must include a lack of a criminal record.
Zalewski Consulting Company
The popularity of virtual currencies has led to the emergence of a cryptocurrency license service in Poland. Companies engaged in providing virtual asset services must register with the appropriate state business register. The activities of Polish persons involved in the crypto industry are regulated by the Chamber of Tax Administration in Katowice. Applicants are required to deposit their charter capital in a bank account. The firm also advises on corporate governance issues. PZC focuses on mid-to-upper-mid market transactions in Poland, with a broad roster of international clients. The Warsaw office also acts as a corporate transaction center for the firm’s global network. The practice is streamlined, but a bit more focused on international deals.
A Cryptocurrency License in Poland will allow you to conduct exchange transactions and carry out client accounts. You will need to establish contact with the local tax authority and local payment service provider. The process for obtaining a crypto license in Poland may take as little as a month. Previously, companies that performed virtual currency activities were not required to register.
In order to be eligible to get a crypto license in Poland, you will need to prove that your company’s activities are not associated with any criminal activity. You will need to provide documents to prove that the beneficial owners of your company are not indicted for a criminal offense. Additionally, your company will need to have at least one year of experience in the field of virtual currencies. You will also need to show that your company’s beneficial owners have property interests in the company. If you want to work in the cryptocurrency industry in Poland, you need to register your business with the Virtual Currencies Registry.
Once you have completed the process, your company will be listed in the virtual currency’s registry. You must have a banking account and a liquid reserve. Also, you will be required to hire an officer. Moreover, you are required to provide proof of your knowledge of the crypto industry. It takes approximately one month to complete the registration process. However, the deadline may be extended in case you do not meet certain requirements. Crypto businesses in Poland must comply with existing taxes, such as excise duty, VAT, and corporate income tax. Additionally, they will have to pay social insurance contributions to the Polish government. In addition, crypto-using companies will have to submit annual income tax declarations to the e-Tax Office.
Before starting your new venture, you will need to have a registrar that will verify your name, as well as your company’s registered address. While this might sound daunting, it’s a relatively straightforward process. It is important to note that while you might be able to conduct your business in Poland without having to register, you can be fined for it. The registration process is not unlike getting a license for any other business activity. However, there are some key differences. For example, while a license may have a specific form, the registration form is more generic.