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Questions and answers regarding the Polish Register of Activities in the field of virtual currencies in Poland

ENTRY TO THE REGISTERWhat is the legal basis for the operation of the register of activities in the field of virtual currencies?

The register of virtual currency activities operates under:

The Act of March 1, 2018 on anti-money laundering and preventing financing of terrorism (Journal of Laws of 2021, item 1132, as amended),

The Act of March 6, 2018 – Entrepreneurs’ Law (Journal of Laws of 2021, item 162 as amended).

When will I be able to start doing virtual currency business?

You can start your virtual currency business after obtaining an entry in the Register of virtual currency activities, in accordance with the provision of Article 129m of the Law on Anti-Money Laundering and Countering the Financing of Terrorism:

Business activities involving the provision of services referred to in Article 2, paragraph 1, item 12, hereinafter referred to as “virtual currency business,” are considered regulated business within the meaning of the provisions of the Law of March 6, 2018 – Entrepreneurs’ Law and may be performed after obtaining an entry in the register of virtual currency activities.

  • Who should obtain an entry into the register of virtual currency activities?

Entrepreneurs engaged in so-called “virtual currency business,” which consist of:

(a) exchanges between virtual currencies and means of payment;

(b) exchanges between virtual currencies;

(c) intermediation of the exchanges referred to above;

(d) maintaining accounts that provide authorized persons with the ability to use the units of virtual currencies, including carrying out transactions of their exchanges.

  •  Within what period of time from the date of submitting the application the registration authority will make an entry in the register?

We make an entry in the register within 14 days from the date of receipt of the application. The application must be consistent with facts. A complete application has to be accompanied by a statement about meeting the conditions required by law to carry out activities in the field of virtual currencies and a statement of no criminal record.

  • Where can I check whether I have been entered in the register of virtual currency activities?

Information about registration in the register of virtual currency activities can be checked on the website of the Public Information Bulletin of the Tax Administration Chamber in Katowice in the tab “Getting things done“.

  • Is it required to attach a certificate of criminal record to the application for registration in the register of virtual currency activities?

No. You should attach a statement of no criminal record to the application for registration (Article 129r (2) of the Act). You do not have to attach a certificate of no criminal record. The statement is made by the person signing the declaration and for its completion it is not necessary to obtain a criminal record certificate.

The application referred to in paragraph 1 shall be accompanied by a statement of the entrepreneur of the following content: “I declare that the data contained in the application is complete and true. I am familiar with the conditions for carrying out activities in the field of virtual currencies, as referred to in the Law of March 1, 2018 on the prevention of money laundering and the financing of terrorism. In particular, I declare that the conditions referred to in Art. 129n and Article 129o of the aforementioned Law”. The declarant shall include the clause of the following wording: “I am aware of the criminal liability for making a false statement.” This clause shall replace the instruction of the body authorized to receive the statement about criminal liability for making a false statement.

  • What is meant by the statutory term of “no criminal record” requirement?

The requirement of not having a criminal record means that you have not been validly convicted of an intentional crime:

  • Against the activities of state institutions and local self-government (Chapter XXIX of the Criminal Code, acts indicated from Article 222 to Article 231 inclusive),
  • Against the administration of justice (Chapter XXX of the Criminal Code, acts indicated from Article 232 to Article 247a inclusive),
  • Against the credibility of documents (Chapter XXXIV of the Criminal Code, acts indicated from Article 270 to Article 277 inclusive),
  • Against property (Chapter XXXV of the Criminal Code, acts indicated from Article 278 up to and including Article 294 inclusive),
  • Against economic turnover and property interests in civil law (Chapter XXXVI of the Criminal Code, acts indicated from Article 296 to Article 308 inclusive),
  • Against the circulation of money and securities (Chapter XXXVII of the Criminal Code, acts indicated from Article 310 to Article 315 inclusive),
  • The offence referred to in Article 165a of the Act of June 6, 1997 – Criminal Code,
  • Crime committed for the purpose of gaining financial or personal benefit, or intentional fiscal crime.

  • Who is covered by the requirement of not having a criminal record?

The requirement of not having a criminal record applies to individuals, and in case of other entities:

  • partners entrusted with the management of the company’s affairs or authorized to represent the company or members of the management bodies (in the case of legal persons or organizational units without legal personality),
  • persons directing the performance of activities related to the conduct of activities in the field of virtual currencies,
  • beneficiaries of the actual entity conducting activities in the field of virtual currencies.

  • Should the application for registration be accompanied by documents proving the possession of knowledge or experience related to the virtual currency business?

No. The application for registration should only be accompanied by a statement of knowledge or experience related to the business of virtual currencies.

  • How should you document your knowledge and experience related to the virtual currencies business?

The condition of knowledge and experience shall be considered fulfilled in the case of:

1) completion of a training course or course covering legal or practical issues

related to the business of virtual currencies

or

2) performing, for a period of at least one year, activities related to the business

in the field of virtual currencies

– confirmed by relevant documents.

Thus, the document confirming experience will be, for example, an extract from the Central Register and Information on Business Activity confirming the conduct of activities along with documents confirming that the entrepreneur performed for a period of at least one year, activities related to the business of virtual currencies. These may include contracts with clients from that period, certifying that the services in question were performed for the client’s benefit services.

Regarding training and courses – the law does not specify the permissible category of courses/training. What is important is that the scope of the course/training should cover legal or practical issues related to the business of virtual currencies. The document confirming the completion of the course/training must confirm that the scope of the course/training covered the issues in question.

No submission of documents is required to obtain registration. Instead, it is required to sign a statement, which also relates to the fulfillment of the knowledge and experience with the following content:

“I declare that the data contained in the application are complete and true. I am familiar with the conditions for carrying out activities in the field of virtual currencies, as referred to in the Law of March 1, 2018 on prevention of money laundering and financing of terrorism. In particular, I declare compliance with the conditions referred to in Articles 129n and 129o of the aforementioned Act.” The submitter of the statement shall include the following clause: “I am aware of the criminal liability for making a false statement.”

This clause replaces the instruction of the authority authorized to receive the statement about criminal liability for making a false statement.

  • How do I sign the electronic application for registration in the register of virtual currency activities?

You can sign the application for registration with:

  • How do I sign the statement of compliance with the conditions required by law to carry out virtual currency activities and a statement of not having a criminal record?

You can sign the statement of compliance with the conditions required by law to carry out activities in the field of virtual currencies, as well as a statement of no criminal record, available at the link: https://www.slaskie.kas.gov.pl/izba-administracji-skarbowej-w-katowicach/zalatwianie-cases/register-activity-in-virtual-currencies, with:

  • Who can apply for registration in the register of virtual currency activities on behalf of a commercial company?

An application for registration in the register of virtual currency activities may be submitted by one of the persons authorized to represent the company listed in section 2 (box 1 and box 3) of the Central Information of the National Court Register or by a proxy. If the application for entry is submitted by attorney, he or she should attach to the application an appropriate power of attorney signed with a qualified electronic signature, trusted signature or personal signature. In such a case, the application should be accompanied by a statement of compliance with the conditions required by law to carry out activities in the field of virtual currencies signed with a qualified electronic signature, trusted signature or personal signature by all natural persons authorized to represent the company applying for entry to the register.

  • Who submits the application for registration in the register of virtual currency activities in case of civil partnership?

The application for registration in the register of virtual currency activities is submitted by each of the partners individually.

  • Will I get written information from the Authority that the registration in the register of virtual currency activities has been made?

No. The registration authority will not notify you of the registration of activities in the field of virtual currencies. You will be able to find information about the entry on the website of the Public Information Bulletin of the Chamber of Fiscal Administration in Katowice in the tab “Settlement of Matters”.

  • When is the deadline to make an entry in the register of virtual currency activities for an entrepreneur who has conducted such activities before 31.10.2021, i.e. before the effective date of Chapter 11a of the March 1, 2018 Law on Anti-Money Laundering and Preventing Financing Terrorism (Journal of Laws of 2021, item 1132, as amended)?

The deadline for registration of virtual currency activities by an entrepreneur who conducted such activity before 31.10.2021 expires on 30.04.2022, i.e. 6 months from the effective date of the Act’s provisions.

  • Is operating virtual currencies without the required registration subjected to administrative sanctions?

Yes. Operating a virtual currency business without obtaining registration in the register of virtual currency activities carries a penalty of up to PLN 100,000.

  • Can the statement of compliance with the conditions required by law to carry out activity in the field of virtual currencies and the statement of no criminal record be signed by a proxy?

No.

  • Will I obtain a certificate of registration in the register of activities in the field of virtual currencies? If so, by what date?

Yes. The certificate of registration in the register of activities in the field of virtual currencies shall be issued at the request of the interested party, without undue delay, but no later than within 7 days from the date of obtaining the entry.

  • Can I apply for a certificate of registration in the register of activities in the field of virtual currencies both on paper and electronically?

Yes. For a certificate of registration in the register of virtual currency activities in the field of virtual currencies you can apply immediately, at the stage of electronic submission of the application for entry into the register by checking the box “I request the issuance of a certificate of entry into the Register”. The application for the issuance of a certificate of the entry into the register can also be submitted:

  • electronically via the ePUAP platform

or

  • on paper by sending it by mail to the address of the Tax Administration Chamber in Katowice, 32b Paderewskiego St., 40-282 Katowice.

There is no specific template for such an application. It is sufficient for the applicant to include information of the following content: “I am applying for a certificate of entry in the register of activities in the field of virtual currencies”.

  • Can the decision to refuse registration in the register of virtual currency activities be appealed?

No. You can file an application for reconsideration against the decision to refuse registration in the register of activities in the field of virtual currencies.

The application is submitted to the Director of the Tax Administration Chamber in Katowice:

  • electronically via the ePUAP platform or
  • on paper by sending by mail to: 32b Paderewskiego St., 40-282 Katowice.

  • If, after submitting the application for registration in the register of virtual currency activities I noticed that I incorrectly filled in the “company name” field, how can I change it?

You may reapply for registration with the box marked “I request a correction of the application.” You can submit a corrected application until the registration authority issues a registration authority’s decision to refuse entry into the register of activities in the field of virtual currencies.

  • Where can I find a template for the application for registration in the register of virtual currency activities?

The template for the application for registration in the register of virtual currency activities is an electronic document in .xml format, which you can find on the ePUAP platform in the Central Repository of Model Electronic Documents (OFFICIAL ZONE → MORE → CRWDE) under template number 2021/10/27/11023.

  • Does the entry of an entrepreneur in the register referred to in Article 129m of the Act mean recognition of this entrepreneur as an obligated institution within the meaning of the law?

The recognition of an entity as an obligated institution within the meaning of the Act is not determined by the fact of registration in the register referred to in Article 129m of the Act, but by the fact of providing services within the scope indicated in Article 2(1)(12) of the Act. Consequently, the obligations under the Act, must be fulfilled by the entrepreneur in question not from the moment of obtaining registration, but from the moment of commencement of the provision of services in the field of virtual currencies. This does not change the fact that for many entrepreneurs these dates will coincide.

Helpful information for obliged institutions on money laundering and terrorist financing can be found on the website of the Inspector General of Financial Information https://www.gov.pl/web/finanse/generalny-inspektor-informacji-financial.

  • CHANGE OF DATA IN THE ENTRY
  • I have applied for a change of data in the register of virtual currency activities. How long will I wait for the change to appear in the register?

We make changes in the register immediately, but no later than within 14 days from the date of receiving a correct application to change the data in the entry.

  • Where can I find a template for an application to change the registration in the register of activities in the field of virtual currencies?

The template for the application to amend the registration of virtual currency activities is an electronic document in .xml format, and can be found on the platform of ePUAP in the Central Repository of Electronic Document Templates (ZONE OFFICIAL → MORE → CRWDE) under template number 2021/10/27/11020.

  • Should I report a change of data in the entry in the register of activities in the field of virtual currencies involving a change in the type of services provided? If so, in what way?

Yes. Changes to the data in the entry have to be made electronically via ePuap, by an application to change the entry in the register of activities in the field of virtual currencies. The application must be submitted within 14 days from the date of the event that caused the change of the data. The application should indicate the current type services provided and the date on which the change occurred. The date of occurrence of the change must not be an earlier date than the date of entry in the register and cannot be a future date.

The application for change of entry in the register of virtual currency activities is available at the link: https://epuap.gov.pl/wps/portal/strefa-klienta/katalog-spraw/inne-sprawy-official/correspondence-with-the-office/application-for-change-of-entry-into-registry-of-virtual-currency-activities-regarding-virtual-currencies.

  • SUSPENSION/RESUMPTION OF REGULATED ACTIVITIES
  • Is the notice of suspension of virtual currency activities and the application for deletion from the register of virtual currency activities subjected to stamp duty?

No.

  • Is the conduct of virtual currency activities despite the suspended activity in this regard subjected to administrative sanction?

Yes. Those who conduct business in virtual currencies, while the business is suspended, are subjected to a fine of up to PLN 100,000.

  • How should the resumption of virtual currency activities be notified?

You should apply for a change of registration in the register of virtual currency activities and check the box “Virtual currencies activity resumed”. You can find the application on the website of the Public Information Bulletin of the Chamber of Fiscal Administration Chamber in Katowice in the tab “Getting things done”.

  • Where can I find a template for notification of suspension of virtual currency business?    

The template for the application of the notice of suspension of virtual currency activities is an electronic document in .xml format, which you can find on the platform of ePUAP in the Central Repository of Electronic Document Templates (ZONE OFFICIAL → MORE → CRWDE) under template number 2021/10/27/11022.

  • Should I report the suspension of my virtual currency business? If yes, how and by what deadline?

Yes. Notification of the suspension of virtual currency activities must be made electronically by submitting via ePuap, a notice of suspension of virtual currencies business. The notice must be submitted within 14 days from the date of suspension of the activity. The notice should indicate the date of suspension of activity, which cannot be a date earlier than the date of entry to the register and must not be a future date.

The notice of suspension of virtual currencies is available at the following link: https://epuap.gov.pl/wps/portal/strefa-klienta/katalog-spraw/inne-sprawy-official/correspondence-with-the-authority/notice-about-suspension-of-activity-in-regarding-virtual-currencies.

  • DELETION FROM THE REGISTER
  • Within what period of time from the date of application for deletion from the register of virtual currency activities in the field of virtual currencies will the information on deletion become visible?

Information on deletion from the register of virtual currency activities will be visible in the register within 14 days from the date when the decision on this matter becomes final.

  • Can the registration authority make the deletion of the entity from the register of virtual currency activities?

Yes. The authority competent for the register of virtual currency activities shall remove from the register the entity performing activities in the field of virtual currencies:

1) after obtaining information about the deletion of the entity from the Central Register and Information on Economic Activity or the National Court Register, or

2) in case of finding:

a) failure of the entity to meet the conditions required by law to carry out activities in the field of virtual currencies, or

b) that the entity has submitted the statement referred to in Article 129r paragraph 2, inconsistent with the actual state of affairs.

Deletion shall be by decision.

  • How do I get confirmation of submitting an application for deletion from the register of virtual currency activities?

You can download an XML document that is an Official Certificate of Submission

(UPP) issued automatically when the document is received in the electronic

Submission Box of a public entity (ESP).

  • Where can I find a template for the application for deletion from the register of activities in the field of virtual currencies?

The template for the application for removal from the register of virtual currency activities is an electronic document in .xml format, which can be found on the platform of ePUAP in the Central Repository of Electronic Document Templates (ZONE OFFICIAL → MORE → CRWDE) under template number 2021/10/27/11021.

  • STAMP DUTY
  •  Is the registration in the register of virtual currency activities subjected to stamp duty?

Yes. Registration in the register of virtual currency activities is subject to a stamp duty amounting to PLN 616. You pay the fee at the time of submitting the application, and the confirmation of the payment shall be attached to the application for entry into the register.

You shall make the payment to the bank account of the Katowice City Hall:

PKO BP S.A. with the number 52 1020 2313 2672 0211 1111 1111 / with an annotation: fee for entry in the register of activities in the field of virtual currencies/.

  •  Is the issuance of a certificate of registration in the register of activities in the field of virtual currencies subject to stamp duty?

Yes. The issuance of a certificate of registration in the register of activities in the field of virtual currencies is subject to a stamp duty of PLN 17. You pay the fee at the time of submitting the application, and you attach the confirmation of its payment to the application for the issuance of the certificate.

You shall make the payment to the bank account of the Katowice City Hall:

PKO BP S.A. with the number 52 1020 2313 2672 0211 1111 1111 /with a note: fee for issuance of a certificate/.

  •  Is stamp duty payable on the amendment to the registration of virtual currency activities?

Stamp duty is payable only on a change in registration related to the expansion of the scope of activity. The fee amounts to 50% of the rate specified on the entry – i.e. 308 PLN. You pay the fee at the time of submitting the application, and you attach the confirmation of the payment to the application for a change in the register.

You shall make the payment to the bank account of the Katowice City Hall:

PKO BP S.A. with the number 52 1020 2313 2672 0211 1111 1111 / with the annotation: fee for change of entry to the register of virtual currency activities/.

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