Fields of law

Innovation in the crypto world: MiCAR and blockchain technology

Crypto-assets have become an integral part of the global economic transformation over the past few years. As the economic importance of crypto-assets has grown, companies investing in the European market have been challenged to understand and adapt to the ongoing regulatory evolution, particularly following the enactment of a new EU regulation on crypto-assets, called MiCAR (Markets in Crypto-Assets Regulation).

Raczynski Skalski & Partners, as a law firm specialising in the area of financial innovation, offers comprehensive legal advice tailored to the needs of clients operating in the world of virtual assets, pursuing ventures related, for example, to the issuance and market admission of crypto-assets, obtaining external funding through ICO and STO programmes or operating exchange platforms, exchange offices and virtual currency wallets.

The legal services provided by Raczynski Skalski & Partners are characterised not only by a high level of attention to the safe and low-cost implementation of the latest legal regulations on virtual assets, but also by the ability to link the new area of regulation with a good knowledge of payment services law and capital market law. The products that our clients bring to market integrate multiple legal issues, hence our consultancy is interdisciplinary in nature.

Our services

The legal services provided by Raczynski Skalski & Partners in the area of cryptoassets are comprehensive and include in particular:

  1. Regulatory advice in the context of MiCAR:

    We track and analyse changes introduced by MiCAR in order to be able to ensure our clients’ compliance with the latest regulations and guidelines enacted at the European level. We advise on the adaptation of existing business models to the new regulations for the provision of crypto-asset services and the issuance of asset-referenced tokens (ART), e-money tokens (EMT) and other crypto-assets.

  2. VASP registration in Poland:

    For several years, our law firm has offered support in the process of registering Virtual Assets Service Providers (VASPs) in the register maintained by the Director of the Tax Administration Chamber in Katowice. We assist our clients in understanding and completing all registration requirements, ensuring a smooth and lawful start of business in Poland.

  3. Raising finance (ICO and STO):

    We offer comprehensive support in raising funding through ICO (Initial Coin Offering) and STO (Security Token Offering). We assist our clients in every step of the process, from the analysis and planning of the financing strategy, to the preparation of legal documentation and the execution of the offering itself. We combine our experience in the field of investment tokens with effective advice on capital market and securities law.

  4. Setting up business structures in the field of cryptoassets:

    We design and tailor business structures to the specifics of cryptoassets business, taking into account aspects of private law and public law, including tax law. Our approach enables the entities we serve to effectively manage regulatory risks, including the selection of appropriate solutions to optimise internal and external processes.

  5. Preparation and review of civil law contracts:

    Our law firm provides services for the preparation and opinion of civil law contracts of which cryptocurrency is an element, such as loan, sale or option agreements. We also advise on contracts integrating cryptocurrency as a classic method of securing the performance of a contract. We have the necessary knowledge of the evolution of the private law status of crypto-assets, including virtual currencies such as Bitcoin or Ethereum, in the legislation and jurisprudence of Polish courts and EU tribunals.

  6. Preparation of AML/CFT procedures for crypto-assets service providers:

    We offer support in the preparation of AML/ CFT procedures for crypto-assets service providers, including procedures for identifying money laundering and terrorist financing risks, onboarding clients or reporting transactions. We ensure that the procedures adopted by our clients are always in line with the guidelines of supervisory authorities, such as the Financial Supervision Authority (KNF) and the General Inspector of Financial Information (GIIF).

  7. Representation before supervisory authorities and courts:

    Our lawyers represent clients before supervisory authorities and administrative and common courts, helping to resolve disputes and ensuring the defence of business interests. We make the utmost effort to ensure that our clients’ activities, which although highly innovative in nature, are transparent and do not raise legal questions in the eyes of supervisory authorities or courts.

  8. Training and education:

    We provide training, tailored to our clients’ needs, on the latest trends, regulations and practices in the field of crypto-assets. We help the entities we serve acquire the necessary knowledge to successfully operate in the dynamic environment of innovative financial products using blockchain technology. The range of workshops we conduct can be individually tailored to the needs of each client.

Raczynski Skalski & Partners is a partner in the implementation of innovative technological solutions

The law firm of Raczynski Skalski & Partners is guided by a dedicated approach to clients, which aims to support them in achieving success and regulatory security in the world of crypto-assets. We ensure that the market for virtual assets, including virtual currencies, can continue to grow and enjoy high consumer confidence. We make the utmost effort to ensure that our clients’ activities remain in compliance with MiCAR, Travel Rule, EBA guidelines and do not raise any doubts from supervisory authorities such as the FSA or the GIIF.