Cryptocurrency trading as a regulated activity from November 1, 2021

As part of the adjustment of Polish law to the EU directive (AML 5), on November 1, 2021, new anti-money laundering regulations will enter into force.

The new regulations will regulate, among others, who can conduct business in the field of cryptocurrency trading.

The act will define what conditions must be met in order to register such activity. The conditions will include, among others, having experience in the virtual currency industry and no criminal record in the field of crimes against the credibility of documents or economic turnover and property interests.

According to the new regulations, the provision of currency exchange services (between different cryptocurrencies and between cryptocurrencies and means of payment) will only be possible after obtaining an entry in the register.

For companies that are currently trading cryptocurrencies, there is a transition period to adapt to the new regulations until May 1, 2022.