poland

According to Crypto Politan, Polish President Karol Nawrocki signed a new law earlier this month, officially incorporating the EU DAC8 directive into national legislation. Investors who fail to report cryptocurrency gains as required will face a punitive tax rate of up to 75%.DAC8 refers to the eighth amendment of the EU Directive on Administrative Cooperation in the Field of Direct Taxation, specifically targeting digital assets. It requires platforms such as exchanges, brokers, and wallet service providers to collect user and transaction data and report it to tax authorities. Tax departments in member countries will automatically share this information. The Polish National Revenue Administration (KAS) will use this to monitor the holdings and trading activities of cryptocurrency investors in the country.Local media estimate that about 3 million people in Poland hold cryptocurrencies, but currently, only about 1% of investors pay taxes in accordance with the law. Under current regulations, cryptocurrency trading income must be reported via the PIT-38 form by April 30, 2026, and is subject to a unified capital gains tax rate of 19%; mining and staking rewards are tax-exempt upon receipt, but taxes must be paid when converted to fiat currency.

According to Crypto Politan, Polish President Karol Nawrocki has once again vetoed a cryptocurrency bill aimed at incorporating the EU MiCA regulations into domestic law. The bill has been criticized for granting excessive powers to the Polish Financial Supervision Authority (KNF), including the ability to suspend cryptocurrency trading and impose fines of up to 10 million zlotys (approximately 2.8 million USD) for violations.The KNF has warned that if the bill fails to pass before July 1, all domestic crypto platforms will face the risk of operating illegally.Industry representatives are concerned that under the current version, Polish crypto businesses may be forced to relocate to more regulatory-friendly European regions such as the Baltic states. Currently, Prime Minister Tusk's government lacks the three-fifths majority needed in parliament to overturn the presidential veto.

According to CoinDesk, the Polish Sejm has once again passed the "Cryptocurrency Market Bill," which was previously vetoed by President Karol Nawrocki, and sent it to the Senate for further review.The bill was approved on Thursday with 241 votes from lawmakers, and its content is identical to the version that was previously vetoed. The bill aims to align Polish law with the EU's "Regulation on Markets in Crypto-Assets" (MiCA), but critics argue that it exceeds EU standards and grants the Polish Financial Supervision Authority (KNF) overly broad enforcement powers, including website blocking and fines in the millions of zlotys.Nawrocki's reasons for vetoing the bill included vague legal provisions, excessive regulation, and high compliance costs, warning that the relevant clauses could harm small businesses and allow for "one-click" domain shutdowns. Despite facing opposition, Prime Minister Donald Tusk's government has made no modifications to resubmit the bill. After the Senate review, the bill may face another presidential veto.

One of the ruling coalition members of the Polish Parliament's lower house (Sejm), the Polska2050 party, on Tuesday reintroduced the cryptocurrency bill, which is identical to the 84-page cryptocurrency bill vetoed by the president, essentially replicating the original Bill No. 1424, aimed at designating the Polish Financial Supervision Authority as the main regulatory body for the cryptocurrency market in the country.

Polish President Karol Nawrocki has vetoed the proposal of the Crypto-Asset Market Act, which aimed to introduce strict regulations for the country's crypto industry. The president's office confirmed in a statement on Monday that he would not sign the bill. President Karol Nawrocki rejected the bill on the grounds that it "truly threatens the freedom, property, and national stability of the Polish people," and pointed out that the bill's length (over 100 pages) far exceeds the requirements set by the EU's MiCA.His main objection lies in a provision that grants authorities the power to block crypto-related websites. Polish Finance Minister Andrzej Domański stated on the X platform that the president's choice would expose consumers to risks, claiming that Karol Nawrocki "chose chaos." Deputy Prime Minister and Foreign Minister Radosław Sikorski also believes that the bill is necessary to curb fraud. Industry insiders welcomed the veto, arguing that consumer protection should not come at the cost of excessive control.

According to Cointelegraph, Polish President Karol Nawrocki vetoed the heavily regulated "Cryptocurrency Market Act," which has drawn praise from the cryptocurrency community and strong criticism from the government.The presidential office stated that the provisions of the bill "truly threaten the freedom, property, and national stability of the Polish people." The main reasons for the veto include: the risk of abuse from provisions that allow authorities to easily block cryptocurrency websites; the bill's complexity leading to overregulation; and excessively high regulatory costs that could hinder the development of startups, benefiting foreign companies and banks. The president warned that excessive regulation would drive businesses to operate in the Czech Republic, Lithuania, or Malta instead of paying taxes in Poland.

ChainCatcher news, according to Cointelegraph, the lower house of the Polish Parliament has passed a new version of the "Cryptocurrency Market Act," which received 230 votes in favor and 196 votes against. The act stipulates that all cryptocurrency asset service providers (CASP) must apply for a license from the Polish Financial Supervision Authority (KNF), with violators facing fines of up to 10 million zlotys (approximately 2.8 million USD) and up to two years in prison. After the act is implemented, there will be a 6-month transition period.The act has been criticized as "the strictest cryptocurrency regulation in the EU," sparking strong opposition from the industry, which believes it could harm the interests of Poland's 3 million cryptocurrency holders. The act is currently under review by the Senate.

ChainCatcher news, according to Jinshi reports, the Warsaw Stock Exchange has launched Poland's first Bitcoin ETF, marking an important step for Eastern Europe in adopting cryptocurrencies. This ETF allows Polish investors to gain exposure to Bitcoin through standard brokerage accounts. The Warsaw Stock Exchange stated in its official press release that this ETF provides investors with the opportunity to enter the cryptocurrency market through trading on a regulated stock exchange.

ChainCatcher news, according to Cryptonews, Polish conservative historian Karol Nawrocki defeated liberal challenger Rafał Trzaskowski with 50.89% of the vote in the local time Monday runoff, successfully elected as president. The National Electoral Commission has confirmed his victory, which will have a significant impact on Poland's future policies, especially in the field of cryptocurrency.Nawrocki supports American conservatives, inspired by figures like Trump, hoping to make Poland a "hub of innovation" for cryptocurrency. This position has sparked discussions in the global financial community, with speculation about whether Poland will follow other economies in exploring the establishment of a state-supported Bitcoin treasury. Although he claims not to hold any cryptocurrency, his policy orientation supports deregulation and promotes industry growth, which has motivated many voters. However, in February this year, the Polish central bank ruled out the possibility of including Bitcoin in the national reserves.

According to ChainCatcher news reported by Cointelegraph, Poland added 10 Bitcoin ATMs on January 27, bringing its total to 219 active devices, surpassing El Salvador and becoming the fifth largest cryptocurrency ATM network in the world, following the United States, Canada, Australia, and Spain.Currently, there are approximately 38,100 cryptocurrency ATMs actively operating in 65 countries/regions, supported by 356 operators.The current top ten countries/regions for Bitcoin ATM networks are as follows:United States: 30,780 (80.8%);Canada: 3,062 (8%);Australia: 1,389 (3.6%);Spain: 276 (0.7%);Poland: 219 (0.6%);El Salvador: 215 (0.6%);Hong Kong: 196 (0.5%);New Zealand: 191 (0.5%);Germany: 173 (0.5%);Puerto Rico: 162 (0.4%).

ChainCatcher news, according to the official announcement, Binance has announced that to comply with EU regulatory requirements, it will adjust the cryptocurrency deposit and withdrawal processes for users in Poland and Belgium starting from January 20, 2025.The new regulations require that deposit transactions exceeding €1,000 (or equivalent currency) must provide sender information, and withdrawals of any amount must provide recipient information, including full name, country, and exchange name (if applicable). If users fail to provide the relevant information, transactions may be delayed or returned.

ChainCatcher message, Binance announced that to meet EU regulatory requirements and according to local guidance, Binance Poland will gradually change its cryptocurrency withdrawal and deposit procedures. Starting from January 20, 2025, users may be required to provide more information when making cryptocurrency deposits and withdrawals on Binance.Cryptocurrency deposits to Binance (for transfers over €1,000 or equivalent in other currencies): Users will be required to provide sender information upon receiving funds. From Binance withdrawals: Users will be required to provide beneficiary information when sending any amount of cryptocurrency.

ChainCatcher news, according to reports from Reuters and Polish media Rzeczpospolita on December 6, Polish authorities have arrested the former CEO of the Russian cryptocurrency exchange WEX in downtown Warsaw. The man's name is Dmitry V. He is suspected of engaging in fraud and money laundering activities during his management of WEX, which collapsed in 2018.A spokesperson for the Polish police told Reuters, "The man is currently in custody, awaiting the completion of the extradition process. If extradited to the United States, Dmitry V could face charges carrying a maximum sentence of 20 years in prison."

ChainCatcher news, according to reports from Reuters and Polish media Rzeczpospolita on December 6, Polish authorities arrested the former CEO of the Russian cryptocurrency exchange WEX in downtown Warsaw. The man's name is Dmitry V. He is suspected of engaging in fraud and money laundering activities during his management of WEX, which collapsed in 2018.A spokesperson for the Polish police told Reuters, "The man is currently in custody, awaiting the completion of the extradition process. If extradited to the United States, Dmitry V could face charges carrying a maximum sentence of 20 years in prison."

ChainCatcher news, according to Bitcoin Magazine, Polish presidential candidate Sławomir Mentzen has promised to establish a Bitcoin strategic reserve if elected.

ChainCatcher news, according to Cointelegraph, the Polish Financial Supervision Authority (KNF) has issued a public warning to Foris DAX MT, a company based in Malta operating under the Crypto.com brand, stating that it is suspected of conducting unauthorized financial activities in Poland.The KNF warning is not a ban, but a reminder for Polish investors to consider the potential risks associated with the platform. This warning is significant, but the KNF has not blacklisted the company.In Poland, the KNF's public warning list informs citizens about companies that may be engaged in unauthorized financial activities. Jacek Bardzczewski, head of the KNF department, explained that under Polish law (specifically Article 178 of the Trading in Financial Instruments Act), entities providing brokerage or investment services must hold the appropriate licenses to operate legally.

ChainCatcher news, according to Bitcoin.com, the decentralized identity project Worldcoin has announced the launch of Orb verification (i.e., iris scanning) services in Guatemala, Poland, and Malaysia, along with the introduction of the Face Auth feature.Face Auth is a new feature in its World ID suite that allows other applications to verify whether the person using the ID is the same individual who was verified at a Worldcoin center using the orb device (iris scanning device). This process only uses information from the user's mobile phone, protecting user data privacy and preventing potential fraud that could occur due to device theft.

ChainCatcher news, according to official sources, Worldcoin has announced the launch of the World ID verification service in Poland.