Legal status of crypto money and cryptocurrency exchanges without financial authorities supervision – Polish and global perspective.
The concept of creating a decentralized electronic payment system was created in the 1990s, but this movement gained momentum during the last financial crisis, which peaked in 2008-2009. Cryptocurrencies are a form of decentralized digital money based on blockchain technology. As an introduction, it is worth mentioning that the first cryptocurrency to enjoy increasing popularity was Bitcoin. The date of its creation and the beginning of the growing popularity of virtual currencies is set at 2009. Even before the appearance of the first Polish cryptocurrency exchanges, there was a Polish currency exchange office operating on the market, allowing the exchange of digital currencies. The first bitcoin exchange was established in 2010, but like many others, it did not stand the test of time.
Being one of the most popular topic of the last years in technology, blockchain offers great perspectives but still remains often seen as vague, complicated matter. Not going into details, it can be surely stated that it is not as complicated as it may seem, both in understanding and especially in application. In a nutshell, blockchain is a technology which secures sharing of information, storing data in a digital database on a distributed ledger of blocks. It allows mostly to record transactions or track assets of various kinds. Importantly, it runs completely online but is properly secured: all information stored is cryptographically coded and to access specific data you need to use your own, private key which is authenticated by network.
That being said, the most important application for blockchain is now cryptocurrency, the most known being bitcoin. The very existence and operation of crypto depend on the blockchain technology. Nowadays, it is not just growing popularity of fashionable crypto assets but an actual growth in the use of this technology in business. In 2022, there were estimated 2,353 businesses in the US accepting bitcoin and the number is believed to grow. Cryptocurrencies are being used by different brands, for different purposes: from purchasing tickets or non-fungible tokens to even buying real estate. The scope of possibilities may be not unlimited but certainly is bound to be increasingly broader.
On January 15, 2024, there will be held the event KRAKÓW: City – space for business. Synergy for the reconstruction of Ukraine. The event is organized by the Polis-Ukrainian Chamber of Commerce within the framework of the social campaign “Partnership and Employment” and the project “Work for Reconstruction of Entrepreneurship in Ukraine.” The event will provide a unique platform for diverse professionals, thought leaders, and stakeholders to come together and discuss critical issues surrounding urban development, business opportunities, and collaborative efforts for the reconstruction of Ukraine. The conference will cover a wide range of topics such as urban planning, sustainable development, and the role of businesses in contributing to the reconstruction efforts in Ukraine. Renowned experts and speakers will share valuable insights, best practices, and innovative ideas, fostering a rich exchange of knowledge and experience. Participation in the Conference will be an enriching experience. The insights we will gain and connections made will undoubtedly contribute to our professional growth. The event will be participated by Weronika Mazurek on behalf of KIELTYKA GLADKOWSKI KG LEGAL.
Polish industrial property law provides for the protection of intangible assets that have industrial applications. One of the possible subjective rights that protect the rights of the owner of intangible property is a patent, which is granted for an invention and gives the exclusive right to use it for profit, professionally and as a subject of legal transactions.
The Directive, commonly known as e-Privacy, refers to Directive 2002/58/EC of the European Parliament and of the Council of 12 July 2002 concerning the processing of personal data and the protection of privacy in the electronic communications sector (Directive on privacy and electronic communications). It is a European legal act with a broad scope of privacy issues. Its purpose is to ensure the protection of data originating from electronic communications and the privacy of users, in other words, of terminal equipment (computers, telephones, tablets). According to Article 1 of the e-Privacy Directive „This Directive provides for the harmonisation of the national provisions required to ensure an equivalent level of protection of fundamental rights and freedoms, and in particular the right to privacy and confidentiality, with respect to the processing of personal data in the electronic communication sector and to ensure the free movement of such data and of electronic communication equipment and services in the Community”. In addition, according to Article 3 of the e-Privacy Directive, „This Directive shall apply to the processing of personal data in connection with the provision of publicly available electronic communications services in public communications networks in the Community, including public communications networks supporting data collection and identification devices”.
