Bitcoin vs. legal and tax regulations in Poland and worldwide
Bitcoin vs. legal and tax regulations in Poland and worldwide

Summary/Abstract: The article presents an analysis of legal regulations referring to bitcoin in Poland and worldwide. At the background of the Polish legislation (currently) bitcoin cannot be referred to as a legal means of payment, since it neither functions as an instrument of money market in the light of the legislation in force, nor represents a currency regarded as legal means of payment. Moreover, none of the public institutions can use it in the legal sense. Bitcoin is also not used in international financial settlements and the legal regulations of other countries are largely varied – from referring to bitcoin as private money to the total ban on using it. Both complex and supranational regulations of all the issues related to bitcoin (detailed regulations and guidelines suggesting businesses the manner of procedures and performing operations using it) are necessary to take advantage of innovation and potential offered by bitcoin in terms of making payments, which can determine the future direction of global money.

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