Cryptocurrency regulation in Poland: exchange, sale, and mining
Cryptocurrencies are a fairly popular payment instrument for many people who have moved to Poland.
Today, in this country, you can freely buy and sell cryptocurrency, as well as exchange digital currencies for the Polish zloty.
You can exchange, buy, and sell at both special exchange offices and at Bitcomat automated exchangers with cash payouts.
In addition, there are many companies offering non-cash cryptocurrency exchange with payment to a bank account or the purchase of crypto assets by transfer.
Most crypto companies limit the exchange size per transaction to 40,000-60,000 zlotys, which is roughly equivalent to 9,000-14,000 euros.
However, when exchanging amounts over 1,000 euros, identification is required, and after December 30, 2024, crypto wallet verification will be required, as cryptocurrencies in the European Union will no longer be anonymous .
In addition to circulation, cryptocurrency mining is also permitted in Poland. Mining tokens is completely legal, but you will still have to pay taxes on the coins you receive.
Do I have to pay taxes on cryptocurrency in Poland?
Profits from the sale of cryptocurrency in Poland are taxed at 19%, with the taxable amount being the difference between the purchase and sale price.
For example, a month ago you bought 1 Bitcoin for 280,000 PLN, and today you sold it for 380,000 PLN, meaning your profit was 100,000 PLN, on which 19,000 PLN will be charged in tax.
While your money is held in cryptocurrency, there are no tax liabilities, but after you sell your crypto assets, you will need to pay a tax on the profit if you sold for more than you bought it for.
Overall, cryptocurrencies are still relatively stable in Poland; they're easy to buy and sell, even within the legal framework. Depending on the market situation and the exchange direction, fees can range from 0% to 4%.
