Poland is entering the final stages of implementing its national Act on the Crypto-Asset Market (“Draft Act”), a key regulatory milestone aligning Polish law with the Regulation (EU) 2023/1114 on markets in crypto-assets (“MiCA”). The amended Draft Act, having incorporated recommendations from the Legal Committee, has now been submitted to the Standing Committee of the Council of Ministers. If adopted in May 2025, it will be sent to Parliament for further processing.
While the presidential election and upcoming summer recess may delay its entry into force until the third quarter of 2025, the most anticipated change has now been confirmed: an extension of the transitional period for both Crypto-Asset Service Providers (“CASPs”) and Payment Service Providers (“PSP”).
This expansion offers a more realistic adjustment timeline for companies preparing to meet the new regulatory requirements, especially those applying for authorisation under the MiCA.
Key Change: Two-Speed Transition for VASPs
For companies already operating in Poland as Virtual Asset Service Providers (“VASPs”), the Draft Act establishes a two-phase transitional regime, depending on how quickly the company initiates the authorisation process.
Under the first scenario, the VASP, whether or not it is listed in the national register of may continue to operate for up to four months from the date the Draft Act enters into force, without taking further action.
Under the second scenario, this four-month period can be extended to nine months, provided the entity submits a complete application for authorisation under the MiCA within the first three months following the Draft Act’s entry into force and receives confirmation of completeness from the Polish Financial Supervision Authority (“KNF”), as specified in Article 63(4) of the MiCA.
This transition model rewards early and proactive compliance. Companies that submit complete applications in time can benefit from additional legal certainty and operational continuity.
Six-Month Transitional Period for Online Currency Exchange Platforms
One of the amendments introduced in the Draft Act is the extension of the transition period for companies that provide non-cash currency exchange services online. Under the updated provision, entities that are not yet licensed as PSP will have six months (instead of the initially proposed three months) to either obtain PSP status or cease operations. This requirement is set out in Article 159(1) of the Draft Act.
The six-month grace period begins on the date the Draft Act enters into force. If the company`s business requires authorisation or registration, and an application is submitted within this six-month window, it may continue to operate under existing rules until the KNF issues a decision. During this transitional phase, penalties for non-compliance, such as those outlined in Article 150(1a), will not apply.
Additional Changes: Lending and Crypto Advice Clarified
The revised draft also introduces important clarifications and relaxations in specific areas of crypto-asset market regulation.
First, the earlier ban on lending in crypto-assets has been removed. All such activity must comply with the MiCA’s prudential, conduct, and risk management requirements, ensuring investor protection and systemic oversight (Article 13 of the Draft Act).
Second, the draft imposes stricter standards on the provision of crypto-asset advice or information. According to the Article 4 of the Draft Law, only qualified employees or contractors of a CASP, those who possess sufficient knowledge of financial markets, are permitted to provide advice or information about crypto-assets or related services to clients.
If the company does not meet these competence requirements, it may still provide information, but only under the direct supervision of a qualified person. In such cases, the supervising person assumes full legal responsibility for the accuracy and appropriateness of the information given.
Another notable structural change is the dissolution of the Polish VASP register. According to the Draft Act, this register will cease to exist the day after the nine-month maximum transitional period ends.
In the interim, the VASPs listed in the register at the time of the Draft Act’s entry into force may continue to operate under existing rules. However, they may be removed earlier under specific circumstances. These include failure to respond to official inspection requests, administrative deregistration of the business or its management body from the National Court Register, or repeated non-compliance with anti-money laundering reporting obligations to the General Inspector of Financial Information.
The shift signals a tightening of regulatory oversight, focused not only on registration status but also on ongoing compliance and responsiveness to supervisory authorities. This marks a clear evolution toward real-time enforcement and harmonisation with the EU’s single crypto-asset regulatory framework.
Financial Obligations for CASPs
The Draft Act introduces a dual structure of financial obligations for CASPs operating in Poland, covering both one-time regulatory fees and ongoing supervisory contributions.
One-time fees apply to core regulatory procedures. CASPs are required to pay up to €4,500 (in PLN equivalent) for initial authorisation. Foreign CASPs intending to operate in Poland under passporting rules are also subject to a fee of up to €4,500, payable when their home-state supervisory authority transmits information about their local activities to the KNF, unless this requirement is waived on the basis of reciprocity.
In addition to these initial fees, CASPs must make an annual supervisory contribution as stipulated in Article 81 of the Draft Act. This contribution covers the cost of ongoing market oversight and is calculated as a percentage of the average annual revenue generated from crypto services over the previous three fiscal years. The rate must not exceed 0.4% of that average and cannot be lower than the equivalent of €500 in gold.
Need to Navigate the MiCA Authorisation Process in Poland?
If you plan to operate as a CASP in Poland, now is the time to act. With the MiCA implementation entering its final phase, early application is the only path to a secure transition.
Manimama Law Firm, offers complete legal and regulatory support for obtaining a CASP license in Poland, including preparation of a full application package, risk and AML documentation, internal policies, governance setup, and communication with the KNF. We ensure your business is not only compliant but fully prepared to operate in a harmonised EU market.
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Manimama Law Firm provides a gateway for the companies operating as the virtual asset wallet and exchange providers allowing to enter to the markets legally. We are ready to offer an appropriate support in obtaining a license with lower founding and operating costs. We offer KYC/AML launch, support in risk assessment, legal services, legal opinions, advice on general data protection provisions, contracts and all necessary legal and business tools to start business of virtual asset service provider.
The content of this article is intended to provide a general guide to the subject matter, not to be considered as a legal consultation.
