Opening a crypto business in Poland: A Comprehensive Guide for Businesses and Entrepreneurs

Many nations lack a regulatory framework for cryptocurrencies, which are becoming more mainstream. In Poland, cryptocurrencies are government-regulated.

Poland legitimized the cryptocurrency industry on October 31, 2021, and now businesses may register to provide their services to the public without fear of prosecution. Noncompliance can result in a 21,600 Euro fine.

The state permits things like:

  • Trade between digital and fiat money.

  • Alternating between different digital currencies.

  • Exchanges of bitcoin may benefit from mediation.

  • Safekeeping of virtual currency.

Requirements and rules

Cryptocurrency businesses need licenses after legalization. To obtain a cryptocurrency license in Poland, a business must:

  1. Check that you haven't been convicted of crimes against the government or local authorities, fraud, or theft of money, property, or other valuables. AML regulations require this.

  2. Provide proof of at least a year of crypto asset experience.

  3. Take a class to learn about the regulations and best practices of digital assets.

  4. Be a "physical person" seeking sole proprietorship.

Having learned the important and main thing about cryptolicensing in Poland, let's move on to the issue of processing a company registration in Poland.

Polish crypto-company regulation has some quirks

Poland is a European Union member state with strict legal requirements. The following procedures must be followed in order to get a license:

  • Create a Polish corporation with a real location.

  • Get yourself a bank account and put the start-up money in it.

  • Find and hire crypto experts and directors with expertise in the sector.

  • Create a five-year strategy to show how your firm will expand.

  • Safely accept and process payments by instituting an anti-money-laundering (AML) and know-your-customer (KYC) policy.

In order to comply with licensing and registration regulations for cryptocurrency assets after October 31, 2021, a new know-your-customer (KYC) strategy will be necessary. The current entrance price into the market is at least €1,000.

Fintech Harbor Consulting can help you get your crypto license by providing you with the following:

  • Fintech Harbor Consulting attorneys will consult with you to learn more about your business and the essentials you need in order to acquire a crypto license.

  • Fintech Harbor Consulting will help you compile all the paperwork needed to apply for and receive your cryptocurrency exchange license, including your company registration documents, certificates of no criminal record, certifications or evidence of prior experience in the bitcoin industry.

  • Assistance during the registration procedure: Fintech Harbor Consulting will walk you through the whole process of forming a Polish business, from registering the firm to obtaining a bank account.

  • Fintech Harbor Consulting's legal team can assist you in crafting a comprehensive business strategy that satisfies all applicable rules and regulations. They'll make sure everything crucial to your cryptocurrency firm's growth is accounted for.

  • Fintech Harbor Consulting will aid in the creation of both an AML policy and a KYC policy, which will help prevent financial crimes like money laundering. We will also make sure that all precautions for safe payment processing and acceptance are taken.

Contact Fintech Harbor Consulting and realize your dream - open your own company in Poland and get permission to trade cryptocurrency with ease and legal support.

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