Key facts
- Poland is the sole EU country without a functional domestic licensing regime under the MiCA regulation.
- President Karol Nawrocki has vetoed the necessary legislation multiple times, citing excessive regulator powers and complexity.
- Approximately 2,000 registered virtual asset service providers in Poland are in regulatory limbo.
- Polish crypto firms are pursuing licenses in other EU states or face potential closure or relocation.
- MiCA licenses issued in any EU country grant access to the entire 27-nation bloc.
As the European Union's comprehensive Markets in Crypto-Assets (MiCA) regulation takes full effect, Poland stands as the only member state without a functioning domestic licensing system. President Karol Nawrocki has repeatedly vetoed the implementing legislation, citing concerns over excessive regulatory powers and complexity that could disadvantage startups.
This political deadlock leaves approximately 2,000 registered virtual asset service providers in Poland in a state of regulatory uncertainty. Without a domestic authority to issue MiCA licenses, Polish firms are compelled to seek authorization in other EU countries, such as Lithuania, Latvia, or Germany, or risk shutting down operations. Industry executives warn that this situation could lead to the collapse of most Polish crypto startups.
Jacek Barszczewski, a spokesman for Poland's Financial Supervision Authority (KNF), confirmed that no Polish public authority has been designated as the competent authority for MiCA supervision, except for issuers of electronic money tokens. A MiCA license obtained in any EU country allows companies to operate across the entire 27-nation bloc.
Wojciech Kaszycki, chief strategy officer at BTCS, noted that businesses are likely to move elsewhere, and that while he supports MiCA as a necessary framework for Europe, it requires improvement. He suggested that the current regulations place undue pressure on startups and called for a program allowing smaller firms to test products before full compliance. Mateusz Kara, CEO of Morphic Financial Group, echoed concerns that the political deadlock and licensing costs could decimate the Polish crypto sector.