Country overview

Poland

Country stats

Rating Points

420

This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.

Crypto Penetration

2.8%

Estimated percentage of crypto users out of the country's total population based on public data.

Legal Entities

861

Number of crypto companies registered in the country based on regulator data if available or other types of public data.

Regulation Points

210

An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.

Amount of crypto users

1 055 600

Total amount of crypto users out of the country's total population based on public data.

Taxation points

This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.

Market volume points

137.1

A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.

Status of crypto

Legally allowed

General status of cryptocurrency regulation in this jurisdiction.

Crypto payments

Legally allowed

The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.

Security Level

Safe place

The overall level of security in a given country based on open data.

Crypto Salaries

Only part

The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.

Business Climate

Very Good

Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.

Stablecoin Regulation

Basic

This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.

Bad Factors

This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.

Types of licenses

Crypto-to-crypto

This license type allows VASP to provide legal exchange from one cryptocurrency to another.

Crypto-to-fiat

This type of license regulates the exchange from cryptocurrency to fiat.

Wallet/Custody

This country has a legal licensing procedure for companies that store cryptocurrency - - crypto wallet providers and custodians.

Good

Medium

Bad

intro

Poland is famous as a jurisdiction with the most accessible crypto license in the EU. However, not all aspects of crypto regulation in this country are clear and transparent. Also new MiCAR requirements implemented by local regulators will probably influence local crypto market.

Security level

Poland is a safe place according to our rating. It has 70.8 points (from 100) for safety level in Numbeo crime rating (1). The h omicide level (2) is 0.7 per 100,000 inhabitants a year. Story of firearm-related death (3) 0.2 per 100,000 inhabitants a year.

Crypto Payments

The Ministry of Finance explained (4) that bitcoin payments must be treated as a barter exchange.

Crypto Salaries

According to local legal consultants KryptoPrawo (5) and iFirma (6), paying a salary in crypto as a remuneration/swap is possible. The minimum wage must be paid in fiat, another part of wage can be paid in crypto.

Legal

In Poland, there was no special crypto law for a long time. The main crypto regulator in the country is Polish Financial Supervision Authority (KNF) and the local Ministry of Finance. According to consulting company Schonherr (7) and CGO legal (8), crypto companies are regulated by AML/KYC legislation, the Polish Act on Payment Services.

In Poland, there are two types of licenses related to cryptocurrency activities: virtual currency exchange license (crypto to fiat) and virtual currency wallet license (crypto to crypto). The Polish Financial Supervision Authority (KNF) issues both licenses. Here is the list (9) of registered entities. This regulatory framework is in effect from 2020-2021.

However, new MiCAR regulations adopted by the European Union make upgrading this system essential. Now, Poland is going to introduce a new CASP framework, which will replace KNF's VASP register. According to local law firm Dudkowiak (10), crypto entities that start their operations in Poland in 2025 will need a CASP license. CASP stands for Crypto Asset Service Provider under the new MiCA classification. Entities registered as VASPs are essential to get CASP license until June 2025. The CASP license fee (11) is about 4,500 EUR.

These changes will be included into crypto bill, that should pass Polish legislative assembly. It also confirms status of KNF as crypto regulator in the country and introduces penalties for violations. The act probably will be adopted (12) by the end of 2024.

Taxation

Tax name	Index
PIT tax Max	32
PIT tax Min	12
Corporate tax (CIT)	19
Max Individual CGT (for crypto)	19
Min Individual CGT (for crypto)	19
Wealth tax Min	0
Wealth tax Max	0

According to the local tax office guide (10)

In addition, revenue arises if you pay with virtual currencies for goods, services or property rights that are not virtual currency or settle other liabilities.
Income is generated if you sell virtual currencies on the stock exchange, in an exchange office or on the open market, i.e. you exchange virtual currencies for legal tender.

tax office guide

PIT

According to Accace, annual taxable income up to PLN 120,000 is taxed at 12% and has a value above 32%. Also, according to PWC (11), 4% solidarity surcharge.

CGT

The PIT rate for individual crypto sales is 19%. This guide (12) and Zonda crypto (13) confirm this. According to Zonda, the crypto value of profit doesn’t matter. It’s applied at a 19% flat rate.

CIT

CIT tax has a flat rate of 19% (14).

Links

1)Crime Index by Country 2023 Mid-Year

2)List of countries by intentional homicide rate

3)List of countries by firearm-related death rate

4)Płatność kryptowalutą na zasadzie umowy barterowej (Cryptocurrency payment based on a barter agreement),. Article

5)Wynagrodzenie wypłacane w kryptowalutach (Remuneration paid in cryptocurrencies). Article

6)Wypłata wynagrodzenia w kryptowalucie? (Salary payment in cryptocurrency?). Article

7)A new era for cryptocurrencies in Poland. Article

8)Cryptocurrency license in Poland 2023. How do you get a crypto license in Poland? Article

9)Rejestr działalności w zakresie walut wirtualnych (Register of activities in the field of virtual currencies). PDF-file

10)Dudkowiak CASP License in Poland

11)Piotr Putyra Aleksandra Walas Anna Cichoń, Mondaq, How To Obtain A CASP License Under MiCA

12)New draft of Polish markets in crypto-assets act

13)Rozliczenie ze sprzedaży kryptowalut (Settlement from the sale of cryptocurrencies). Article

14)Poland Overview. PWC

15)Kryptowaluty a podatek PIT – rozliczenie PIT 2024 r (Cryptocurrencies and PIT - PIT settlement 2024). Article

16)4.05 Crypto taxation in Poland. Article

17)Poland. Individual - Taxes on personal income. PWC

Last update: November 2024

Articles

article

Security level

Crypto Payments

The Ministry of Finance explained (4) that bitcoin payments must be treated as a barter exchange.

Crypto Salaries

Legal

Taxation

Tax name	Index
PIT tax Max	32
PIT tax Min	12
Corporate tax (CIT)	19
Max Individual CGT (for crypto)	19
Min Individual CGT (for crypto)	19
Wealth tax Min	0
Wealth tax Max	0

According to the local tax office guide (10)

tax office guide

PIT

According to Accace, annual taxable income up to PLN 120,000 is taxed at 12% and has a value above 32%. Also, according to PWC (11), 4% solidarity surcharge.

CGT

CIT

CIT tax has a flat rate of 19% (14).

Links

1)Crime Index by Country 2023 Mid-Year

2)List of countries by intentional homicide rate

3)List of countries by firearm-related death rate

4)Płatność kryptowalutą na zasadzie umowy barterowej (Cryptocurrency payment based on a barter agreement),. Article

5)Wynagrodzenie wypłacane w kryptowalutach (Remuneration paid in cryptocurrencies). Article

6)Wypłata wynagrodzenia w kryptowalucie? (Salary payment in cryptocurrency?). Article

7)A new era for cryptocurrencies in Poland. Article

8)Cryptocurrency license in Poland 2023. How do you get a crypto license in Poland? Article

9)Rejestr działalności w zakresie walut wirtualnych (Register of activities in the field of virtual currencies). PDF-file

10)Dudkowiak CASP License in Poland

11)Piotr Putyra Aleksandra Walas Anna Cichoń, Mondaq, How To Obtain A CASP License Under MiCA

12)New draft of Polish markets in crypto-assets act

13)Rozliczenie ze sprzedaży kryptowalut (Settlement from the sale of cryptocurrencies). Article

14)Poland Overview. PWC

15)Kryptowaluty a podatek PIT – rozliczenie PIT 2024 r (Cryptocurrencies and PIT - PIT settlement 2024). Article

16)4.05 Crypto taxation in Poland. Article

17)Poland. Individual - Taxes on personal income. PWC

Last update: November 2024

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