newtech.law - legal aspects of new technologies

The main objective of the planned regulation is to enable the efficient location of assets which could be associated with a crime, or be subject to judicial or administrative enforcement.

In April of last year, we pondered the legal aspects of e-sport and stated that its status in Poland is unregulated. This situation may change with the recently published proposal to amend the Sports Act, drafted by the Ministry of Sport and Tourism.

During the past year Bitcoin doubled its value. Those who acquired this currency at a lower rate can now reap great profits. The ability to tax income on this basis has long been subject to doubt. Recently, a change of statistical classification of trade in Bitcoin augmented uncertainty in this regard.

R&D relief was included in Poland’s income tax law from 1 January 2016. A year later, under the “Small Innovation Act,” major changes were introduced to make the incentives more attractive.

The Act on Trust Services and Electronic Identification is intended to adapt Polish law to the EU’s eIDAS Regulation. Among other things, it repeals the Electronic Signature Act. The new act is part of a broad trend toward creation of a new regulatory framework for digital commerce.

Consultations are nearing the end on the proposed Regulatory Technical Standards (RTS) for strong customer authentication announced by the European Banking Authority pursuant to the revised Payment Services Directive (2015/2366, known as PSD2). This proposal was much awaited by the entire financial technology industry. The standards could have a huge impact on business models and tech solutions applied on the FinTech market.