Have you ever wondered what the regulations directly say about cryptocurrencies? In this aspect, Polish law for many entrepreneurs often turns out to be characteristic. Mainly due to the fact that the crypto industry in Poland revolves around the definition of virtual currencies and – since October 2021 – the Register of Virtual Currencies. Recently, we have seen numerous changes that require adaptation to completely new market conditions. Are you concerned about how the Polish New Order will affect your business? Do you have doubts or questions about accounting for your cryptocurrency profits? Are you planning tokenization of your project or business?
In this case, the cryptocurrencies listed in the headline meet the definition of virtual currencies and will be subject to a 19% tax rate. Unfortunately, not every token under national regulations will be a virtual currency. An example is the current new trend related to NFT trading, which is not losing popularity. Almost every industry or brand is trying to introduce a product or service related to non-fungible tokens. However, NFT is often not convertible into legal tender, so it will not be classified as virtual currency and will be subject to other regulations. Such details, in turn, will be found much more in Polish law.
If you are unsure about how to account for 2021 or are planning to tie your business to the cryptocurrency industry, you can consult your concept with legal and tax advisor Maciej Grzegorczyk – creator of the kryptoprawo.pl website and the partner of KHG Hupajło Grzegorczyk i Partnerzy Kancelaria Prawno-Podatkowa.
This will give you the confidence that your idea will be tailored to the legal conditions, as well as optimize your project based on precise guidance.
By referring to Cryptiony, you will receive a 10% discount on a cryptocurrency/NFT consultation with Maciej Grzegorczyk from kryptoprawo.pl.
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