Country Update-Poland: Crypto-asset regulation

This article by our experts originally written for and published by Thomson Reuters, delves into the turbulent nature of the crypto-assets sector and the increasing calls for regulation to balance its potential benefits with the need to minimize financial crime and protect investors. It highlights the ongoing consultation by the International Organisation of Securities Commissions (IOSCO) on proposed recommendations for regulating crypto-assets.

It discusses the varying approaches of different countries in implementing rules affecting crypto-finance, as well as the upcoming introduction of the Markets in Crypto-Assets Regulation (MiCA) in the EU which was recently approved by the European Parliament on April 20, 2023, and expected to be published in the Official Journal in June.

The article also provides an overview of crypto-asset regulation in Poland, emphasizing the absence of a specific regulatory regime and the role of the Polish Financial Supervision Authority (PFSA) in overseeing certain crypto-related activities. It touches on issues such as promoting crypto-assets, taxation, and the monitoring of crypto-assets by law enforcement authorities.