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Key changes in crypto regulations in Poland – draft act on crypto assets

Publication date: March 18, 2024

New obligations of issuers of asset-linked tokens and e-money-linked tokens and crypto-asset service providers

Assumptions and purpose of the draft act on crypto assets

The draft act on crypto-assets is intended to implement into national regulations Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on crypto-assets markets and amending Regulations (EU) No. 1093/2010 and (EU) No. 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (Journal of Laws EU. L. of 2023, No. 150, p. 40, as amended) (hereinafter: MiCA) specifying the principles of emission regulation and supervision, trading and providing services related to cryptocurrencies. The regulation has been in force since June 29, 2023, but will become fully applicable only in December 2024. The draft act provides for the introduction of new solutions in the area of the crypto-assets market sector, aimed at implementing the tasks arising from the MiCA regulation, in particular in the field of effective supervision and investor protection. According to the legislator, taking actions aimed at implementing the above-mentioned objectives will ensure long-term market development and security by extending supervisory competences. The Undersecretary of State of the Ministry of Finance is responsible for the draft act.

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Generating synthetic data

Publication date: March 15, 2024

This article was prepared by KIELTYKA GLADKOWSKI based on legal assistance provided to clients operating in language models and synthetic data in technology transactions.

Natural language generation

Natural language processing (NLP) involves enabling computers to understand human language in written and oral form. This process covers many fields such as computer science, artificial intelligence, linguistics and data science.

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The Polish Ministry of Finance is planning the introduction of a global minimum tax. The effect on entrepreneurs

Publication date: March 04, 2024

The Polish Ministry of Finance plans to introduce a global minimum tax for entities belonging to international and domestic groups – according to the draft law included in the list of legislative and program works of the Council of Ministers. The global minimum tax system is to be based on three types of equalization tax.

Global minimum tax – draft law of the Ministry of Finance

The introduction of a global minimum tax is assumed in the draft act on equalization taxation of entities belonging to international and domestic groups, prepared by the Ministry of Finance, which is to be adopted by the government in the third quarter of 2024.

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Bidding at an online auction and shaping the price of the auction item with the participation of offers from other participants

Publication date: February 26, 2024

After all, the auction is about the best market price. The question is whether comparing all price offers in real time is only the privilege of the auction organizer or the right of all participants. Online sales platforms generate prices because virtual reality allows participants to participate in legal transactions online, eliminating the barrier of locality of a specific event. On the other hand, however, the popularity of online activities generates a number of limitations regarding knowledge about auction increments, which have naturally always existed in conventional live auctions.

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Confusion caused by a Google algorithm error in the PLN exchange rate – analysis of a recent case

Publication date: February 26, 2024

On January 1, 2024, there was a sensation in the Polish zloty exchange rate on the currency market in Poland. The popular Google search engine presented data that indicated a significant increase in the value of foreign currencies in relation to the Polish zloty.

Google algorithm error.

The New Year could start very financially for holders of foreign currencies thanks to the current currency rates published by the Google search engine. On Monday, January 1, from 5:30 p.m., Internet users observed a sudden jump in the value of currencies compared to the Polish zloty via the Google search engine. At its highest point, the value of the zloty decreased by over 30%.

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