The beginning of partial application of the AI Act as regards general provisions and prohibited practices
On 2 February 2025, Regulation (EU) 2024/1689 of the European Parliament and of the Council of 13 June 2024 laying down harmonised rules on artificial...
Establishment of a New Crypto Task Force by the SEC
On 21 January 2025, Mark T. Uyeda, acting Chairman of the US Securities and Exchange Commission (‘SEC’), announced the creation of a new Task Force ai...
Joint ESMA-EBA Report on latest developments in crypto-assets
On 16 January 2025, the European Securities and Markets Authority (“ESMA”) published a joint report on crypto-assets developments on its website, whic...
Draft regulatory technical standards specifying the technical elements necessary for credit institutions and investment firms to calculate the own funds requirements for exposures to crypto-assets
On 8 January 2025, the European Banking Authority (“EBA”) published draft regulatory technical standards (“RTS”) specifying the technical elements nec...
Communication of the Director of the Katowice Regional Revenue Administration Office on the Register of Virtual Currencies Activities
On 30 December 2024, a communication from the Director of the Katowice Regional Revenue Administration Office concerning the continued functioning of ...
UKNF position on the application of Regulation (EU) 2023/1114 during the transitional period
On 2 January 2025, the Polish Financial Supervision Authority (‘UKNF’) issued a position on the application of Regulation 2023/1114 during the transit...
Innovation Hub
Through the Innovation Hub program, the supervisory authority conducts a dialogue with entities from the FinTech sector, providing them with appropriate explanations for their inquiries, thus supporting the development of modern technologies on the financial market while maintaining safety and adequate protection of customers.
Za pośrednictwem programu Innovation Hub organ nadzoru prowadzi dialog z podmiotami sektora FinTech udzielając im stosownych wyjaśnień na zadane zapytania, wspierając tym samym rozwój nowoczesnych technologii na rynku finansowym przy zachowaniu bezpieczeństwa i odpowiedniej ochrony klientów.
VIRTUAL SANDBOX
The launch of Virtual Sandboxes aims to support the development of the Polish financial innovation market and implements the tasks set out in the Digital Supervisory Agenda. It is also the first stage of development of the KNF's offer regarding technological support for entities from the FinTech sector in the formula of virtual specialized sandboxes.
Virtual Sandbox PSD2
The Virtual Sandbox PSD2, made available to interested entities, allows you to simulate a number of banking operations and test solutions based on the Open API interface, compliant with the Polish API standard. An entity planning to offer an innovative financial payment service may apply to the Innovation Hub Program, where it will be able to consult its idea and then test it in a sandbox.
Virtual Sandbox Blockchain
On March 17, 2021, the Polish Financial Supervision Authority (UKNF) signed an executive agreement with the National Depository for Securities (KDPW), which is a continuation of the Cooperation Agreement of 2019. The agreement defines the principles of cooperation in launching the Sandbox DLT ICT environment and supporting its development. This is a consequence of the activities carried out under the Agreement, in which the institutions expressed their will to cooperate in the area of supporting the development of the Polish financial innovation ecosystem.
So far, business analyzes have been carried out to create the environment and the infrastructure at the UKNF has been separated, on which the environment based on Hyperledger Fabric was launched for the purpose of carrying out the Proof-of-Concept of the Sandbox DLT project.