The Polish regulations directly
referring to blockchain will be joined on 19 September 2020 by the Regulation of the Council of Ministers of
9 March 2020 on Documents Connected with Banking Activities on IT Data
Carriers. It expressly permits banks to store documents connected with
banking activities on blockchain.
Under §5(2) of the new regulation, “A document may be stored in the form of a distributed and decentralised database. The bank shall operate the database in a manner ensuring the security and integrity of the documents contained in the database.” The phrase “distributed and decentralised database” used in this provision refers to blockchain, as is expressly stated in the justification to the draft of the regulation. Moreover, the identical phrase is used in other legal acts to refer to blockchain technology (e.g. in the provisions of the Commercial Companies Code devoted to the ledger of stockholders).