The legal situation in the area of digital assets in Poland is currently extremely dynamic. This results, among other things, from the ongoing (phased) entry into force of EU Regulation 2023/1114 of May 23, 2023 on crypto-asset markets (the so-called MiCA Regulation, from Markets in Crypto-Assets), EU Regulation 2023/1113 of May 23, 2023 on information accompanying transfers of funds and certain crypto-assets (the so-called TFR Regulation, introducing the Travel Rule), and work on the final shape of the act on the crypto-asset market – a legal act that is to regulate in detail numerous legal issues related to the entry into force of the MiCA Regulation. An element that has additionally complicated the situation is the recently issued Communication No. 87 of the GIIF (General Inspector of Financial Information), from which it follows that the GIIF expects the Travel Rule (i.e., the obligation to collect specific data for each crypto-asset transfer) to apply to obliged institutions based in Poland from December 30, 2023.
In the article by Adam Pantak in Dziennik Gazeta Prawna of December 2, 2024, alongside other legal experts in digital assets, I commented on doubts related to the above legal changes and assessed new legal obligations for the crypto industry, looking at them from the perspective of cybercrime using digital assets (cryptocurrencies).
Link to the article below:
Paweł Osiński
Attorney