Poland Drafts Crypto-Assets Act Aligning with EU MiCA Regulation
Poland is drafting a crypto-assets act to align with the EU’s MiCA regulation.
- The Financial Supervision Authority (KNF) will be the main regulator.
- Both financial and criminal penalties are introduced for violations.
- Licensing rules set for service providers; VASP registry to be abolished by 2025.
- Issuers will have reporting duties.
- KNF can freeze accounts for up to 96 hours, extendable to six months with prosecutor approval.
- Amendments approved on 23 September 2025 include clarified supervisory powers, minimum prison terms for unauthorized providers, refined currency exchange definitions, and extended compliance deadlines for blocking orders.
Other EU states are at different stages of implementing MiCA:
- France and Germany are incorporating it into existing licensing systems with transitional relief.
- Lithuania and Estonia have tightened provider rules early.
- Spain has delayed enforcement to give firms more preparation time.