What Makes Poland License a Reasonable Choice For Businesses?
The main reason why businesses are still a little bit suspicious over integration of cryptocurrencies and blockchain in their businesses is the regulation. It is very difficult to get trust among customers. The best decision companies from Europe can make is the registration for the official cryptocurrency license in Poland with the help of SBSB Fintech Lawyers, as this country positions itself as an attractive choice for business in this part of the world. But what exactly makes obtaining such a license a reasonable and strategic choice for businesses? It is highly recommended to delve into details on factors that set Poland apart in the cryptocurrency landscape.
Alignment with European Union Standards
One of the main advantages of obtaining a crypto license in Poland is that the country is aligned with European Union (EU) standards. Poland has implemented a regulatory framework that is in line with EU directives, creating a favorable environment for blockchain projects. This alignment is important for businesses that want to operate not only in Poland but also in the wider European market.
Agreeing with EU standards provides a level of familiarity and consistency for businesses that are already operating in other EU countries or are planning to expand their operations across Europe. It also means that Poland’s approach to regulation is likely to remain stable and predictable, as major changes will need to be aligned with general EU policies.
Legitimacy and Trust
The regulation of cryptocurrency operations in Poland is currently managed through the Register of Activities in the Scope of Virtual Currencies, maintained by the Polish Tax Administration Chamber in Katowice. While the Polish Financial Supervision Authority (KNF) does not issue licenses for cryptocurrency activities, being listed in this register can still significantly enhance a company’s reputation. This is especially important in an industry that has often faced mistrust from traditional financial institutions, businesses, and regulators. Inclusion in the Polish register effectively serves as a seal of approval, indicating that the company operates in a regulated environment and adheres to established standards. This can be a powerful tool for building trust with potential clients, partners, and investors who may be wary of unregulated cryptocurrency operations.
Streamlined Licensing Process
Obtaining a crypto license is an important process in any jurisdiction, but in Poland, it is comparatively simplified. Licensing involves three main stages:
- Preparing and complying with regulatory standards;
- Applying;
- Registration in the Register of Activities in the Scope of Virtual Currencies.
This simple approach compares favorably with more complex and lengthy procedures in some other jurisdictions. The entire process usually takes only 2 weeks, which is quite fast by regulators’ standards. This accelerated time allows companies to enter the market faster and take advantage of new opportunities before competitors in other, slower jurisdictions. To make the registration process much easier, it is highly recommended to get help from professionals, like SBSB Fintech Lawyers.
