New rules and state supervision for the crypto-asset market in Poland.
The law introduces state supervision over the crypto-asset market to protect investors and retail holders. Crypto-asset service providers will need an authorization and will be monitored by the Financial Supervision Authority (KNF). This gives citizens greater security and allows for the blocking of internet domains used for activities violating the regulations.
Key points
KNF gains the power to request the blocking of crypto-asset and cash accounts, and to block internet domains violating the regulations.
Crypto-asset service providers must obtain an authorization, deposit client funds separately from their own, and ensure transaction security.
Financial penalties and imprisonment are introduced for market manipulation, information fraud, and unauthorized activity.
The sale and exchange of crypto-assets remain exempt from the civil law transactions tax (PCC).
Status:
In Progress
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