Specializations
Cryptoassets and tokenization
Comprehensive legal support for companies providing services in the area of cryptoassets.
Comprehensive legal support for crypto asset service providers and tokenization projects.
The popularity of cryptocurrency and tokenisation is constantly evolving. The crypto-asset market is growing rapidly and is increasingly regulated by EU legislation, in particular the MiCA Regulation. There is currently no VASP licensing system in Poland, so businesses should prepare for future CASP licensing requirements. We support Clients in preparing for CASP licensing, as well as in obtaining licenses in other jurisdictions and in conducting business in Poland by foreign entities.
It can also be challenging to support clients in the implementation of business intentions in the absence of specific regulation – in such cases, we advise on the basis of previous knowledge and experience, creating solutions that ensure maximum protection of clients’ interests.
Analyzing national, European and international regulations and best practices regarding the broader cryptoasset market and tokenization issues, including but not limited to:
- the law of March 1, 2018. on anti-money laundering and countering the financing of terrorism (the so-called anti-money-laundering law, AML law);
- regulation on cryptoasset markets (MiCA);
- The position of the KNF, the decisions of the OCCP and the Financial Ombudsman;
- Digital Operational Resilience Ordinance (DORA);
- Cyber Security Directive (NIS2);
- Law on cryptoassets;
we offer comprehensive regulatory advice for crypto asset service providers, covering in particular AML, MiCA and DORA regulations, as well as support in compliance and preparation for regulated activities.
- How to start a business involving the operation of a cryptoasset exchange or brokerage?
- What regulatory requirements must be met in order to operate a cryptoasset trading platform or exchange?
- What are the current rules for conducting cryptoasset business in Poland during the transition period preceding the full application of the MiCA regulation?
- How to prepare your business to obtain a CASP (Crypto-Asset Service Provider) license?
- When might crypto-asset activities additionally require a payment services license?
- How to obtain a license for a crypto-asset service provider in other jurisdictions?
- What are the legal aspects of token issuance?
- What conditions must be met in order to issue electronic money tokens (EMT) in accordance with MiCA?
- Who can issue an electronic money token?
- What conditions must be met in order to issue asset-referenced tokens (ART) in accordance with MiCA?
- What are crypto-assets and digital currencies in the light of EU regulations?
- How to prepare and submit to the Polish Financial Supervision Authority an information document concerning the issuance of a MiCA-compliant token?
- What is the legal and business significance of smart contracts in blockchain-based projects?
- What are the benefits of using smart contracts?
- Comprehensive legal support in all aspects of business operations for cryptocurrency companies in terms of Polish and European legal regulations.
- Legal advice on opening cryptocurrency exchanges and cryptocurrency exchange offices.
- Advice at every step of the process of establishing a business and obtaining registration in the register of virtual currency activities (known as obtaining a cryptocurrency license).
- Consulting at every stage of conducting business in Poland for foreign CASPs (so-called passportization).
- Support in the process of applying for a CASP license in foreign jurisdictions
- Develop and implement internal procedures for customer verification (KYC), AML and RODO.
- Legal support for business relations with payment service providers, banks and other financial institutions.
- Legal support and advice to ensure compliance with MiCA regulation, and upcoming law on the cryptoassets market.
- Support and advice on the legal aspects of the use of tokens representing rights or property values.
- Legal and tax assessment of blockchain-based services.
- Develop business assumptions for the issuance of EMT and ART tokens.
- Legal analysis of the possibility of issuing, using and trading an e-money token outside the EU, including in particular the UK and the US, if the token were to be traded outside the EU.
- Legal support in obtaining a bank (credit institution) as a partner – depositor of funds raised in connection with the issue – including MiCA.
- Prepare and submit submissions to the KNF, prepare information documents for token issuance, in compliance with requirements from MiCA.
- Advising on the creation of agreements between participants in the token issuance process.
We support Polish, European, and international entrepreneurs implementing projects related to cryptoassets and tokenization, including token issuers and entities intermediating in the trading of cryptoassets.
We advise entrepreneurs on the process of obtaining CASP licenses in other jurisdictions.
We provide support to foreign entities holding a CASP license in fulfilling their regulatory obligations related to conducting business in Poland. We support token issuance projects, including tokens that are electronic money (EMT), as well as projects using payment instruments based on cryptoassets. We advise entrepreneurs interested in launching and operating cryptoasset exchanges on how to adapt their activities to the requirements of Polish and EU law, in particular MiCA regulations.
