Posted on Categories changes in law, e-commerce

Ban on unjustified geo-blocking and other forms of discrimination now in force

Just before the most intensive holiday online sales period, businesses need to implement changes ensuring customers have equal access to goods and services regardless of their nationality, place of residence or place of business. From 3 December 2018, the Geo-blocking Regulation (2018/302) applies throughout the European Union.

We wrote about this proposal earlier (text only in Polish), but due to the commencement of the bans and changes to the adopted final regulation, we come back to the subject.

Continue reading “Ban on unjustified geo-blocking and other forms of discrimination now in force”

Posted on Categories blockchain, changes in law

Cryptocurrency a financial instrument? A new proposal in the EU

The legal status of cryptocurrency is particularly important not only for the so-called crypto space, but also for the future of development of blockchain technology. Recent EU legislative proposals classifing “virtual currencies” as financial instruments might significantly reduce blockchain activity in Europe.

Continue reading “Cryptocurrency a financial instrument? A new proposal in the EU”

Posted on Categories blockchain, changes in law

Taxation of income from trading in cryptocurrencies: A new approach

The Polish government is currently working on a completely new tax regime applicable to income from trading in cryptocurrencies (virtual currencies) for personal income tax and corporate income tax purposes. For PIT purposes, this income is to be taxed as income from cash capital at the rate of 19% regardless of whether the turnover is of a private nature or made in the course of business activity. For CIT purposes, the income from trading in cryptocurrencies will be classified as capital gains. These new rules would apply from 1 January 2019.

Continue reading “Taxation of income from trading in cryptocurrencies: A new approach”

Posted on Categories blockchain, changes in law

Prosta Spółka Akcyjna: a list of shares in a dispersed database

A proposal presented in May by the Ministry of Entrepreneurship and Technology for amendments to the Commercial Companies Code provides for a new type of capital company – Prosta Spółka Akcyjna (PSA). This legislative proposal has been criticised for an excessive amount of regulation and complexity of the provisions, and also has been welcomed for achieving the principal goal of the initiative, which is making the legal environment suitable for start-ups. This article discusses the section of the amendment that deals directly with new technologies.

Continue reading “Prosta Spółka Akcyjna: a list of shares in a dispersed database”

Posted on Categories changes in law, crowdfunding

Amendment to the Public Offering Act: Removal of prospectus requirement an opportunity for crowdfunding

The high costs of preparing a prospectus and the required intermediation of an investment firm have discouraged many companies from raising financing through a public offering. Given the low threshold (EUR 100,000) for the value of a public offering requiring publication of a prospectus, the obligations connected with public offerings have also had a negative impact on other methods of financing such as crowdfunding. The new regulations are aimed at relaxing the national requirements by raising the threshold to EUR 1 million and adjusting other regulations to this change.

Continue reading “Amendment to the Public Offering Act: Removal of prospectus requirement an opportunity for crowdfunding”

Posted on Categories changes in law, research

Green light for autonomous vehicles in Poland?

The green light may have been given, but it is not glowing very brightly. Amendments to the Polish Road Traffic Law suggest a real possibility of self-driving cars becoming widely used in Poland. The new rules will allow roads to be used for testing autonomous vehicles. The act is also the first act in the Polish legal system to define an autonomous vehicle, which is a vehicle fitted with systems that control the vehicle’s movement and enable it to move without driver interaction, which a driver can take control over at any time (Art. 65k).

Continue reading “Green light for autonomous vehicles in Poland?”