1st March 2018 the Polish Government passed a draft law on cryptocurrencies

We all remember situation in Bulgaria when all centralised banks locked their clients cryptocurrency accounts. It was at the beginning of December 2017. That was one of the first acts against cryptocurrencies. Since May 2017 the Polish Government passed a draft law on cryptocurrencies 1 March 2018 the Polish Sejm and Senate considered it. For now, we know that:
"Virtual Currency - it means a digital representation of values that is not:
a) legal tender issued by the NBP, foreign central banks or other public administration bodies,
b) an international settlement unit established by the international organization and accepted by individual countries belonging to them or cooperating with the organization,
c) electronic money within the meaning of the Act of 19 August 2011 about payment services,
d) a financial instrument within the meaning of the Act of 29 July 2005 on trading in financial instruments,
e) a bill of exchange or a check and is exchangeable in the course of trade on legal means of payment and accepted as a medium of exchange, and can also be electronically stored or transferred or may be traded electronically "
Basically, the draft law on cryptocurrencies is targeted at large traders. A large trader is an investor or organization with trades that are equal to or in excess of certain amounts as specified by the Commission Regulation (EU). A large trader is defined as "a person whose transactions exceed more than 50.000.000 EUR shares or 50.000.000 EUR during any calendar year."
It is important to know that a draft law was created to protect the polish market from counteracting money laundering and to defeat terrorism. In the summary we read:
"On the other hand, the inclusion in the catalogue of obligated institutions of entities providing services in the exchange between virtual currencies and legal means of payment (Art. 2, &1, point 12) is found in V AMLD (5th Anti-Money Laundering Directive). Pursuant to the provisions of V AMLD, European Union Member States will be required to impose on entities that provide services in the exchange between virtual currencies and legal means of payment and pursue currency counterfeiting obligations in the field of counteracting money laundering and terrorism financing for their clients. Due to the fact that the legislative procedure of the VLLD project is close to finalization and due to the experience of the General Inspector so far related to the analysis of suspicious transactions, the experience of foreign financial intelligence units regarding the use of virtual currencies for money laundering as well as the FATF (Financial Action Task Force on Money Laundering) guidelines set out in Guidance for a risk-based approach - Virtual Currencies from June 2015 "
So the basic action of the Goverment is to impose a high taxes on financial speculation in cryptocurrences. Now a draft law is waiting for approval of the Polish President.