Poland Is the Only EU Country Without a MiCA Law: 50 Days to the Deadline
On 1 July 2026, the transitional period under the EU MiCA regulation (Markets in Crypto-Assets) expires. After that date, only companies holding a valid CASP licence may operate in the EU market. Poland is the only EU member state that has not passed the required national legislation: President Karol Nawrocki has already vetoed two bills. Polish crypto companies are now caught in a regulatory trap.
What Is Happening
Since February 2026, Poland has been left without a designated regulator for the digital asset market — after the president vetoed the second version of the bill (Bill 2064). Since 30 December 2024, MiCA has applied directly across the EU, including Poland. However, due to the absence of a national implementing act, the country remains in a transitional phase: crypto services may still be provided under existing VASP register entries until 30 June 2026, but new registrations are no longer possible.
This creates a direct asymmetry: foreign companies that have obtained a MiCA licence in their home countries can provide services in Poland, while Polish companies have no formal domestic path to obtaining a MiCA-recognised licence. Several companies with Polish roots have already relocated their operations abroad. |
What This Means for Your Business
- Crypto companies and fintech: operating without a CASP licence after 1 July is not an option. Waiting for Polish legislation is no longer a viable plan — action is needed now.
- Startups and new entrants: the market is theoretically open but practically closed to new players — unless they acquire an already registered entity.
- Digital asset investors: after 30 June 2026, verify that the platforms you use hold a valid CASP licence issued in an EU member state. The ability to enforce investor rights will depend on the jurisdiction where the licence was granted.
- M&A in the tech sector: transactions involving Polish crypto assets or platforms require verification of the counterparty's regulatory status — the risk of dealing with an unlicensed entity after the deadline is real.
Recommendations
- Assess your regulatory status: determine whether your activity falls within the MiCA CASP definition — this covers not only crypto trading but also custody services, exchange, and token issuance.
- Consider licensing in another EU country: Lithuania, Ireland, Malta, Estonia — jurisdictions with functioning CASP authorisation procedures. EU passporting allows you to serve clients across the entire bloc.
- Verify your counterparties: if you work with Polish crypto or fintech platforms, confirm their licensing status before 1 July.
- For M&A: include MiCA compliance as a mandatory item in due diligence for any digital assets / fintech transaction.
- Monitor legislative developments: work on a new compromise bill is ongoing — its adoption could change the picture, but it should not be treated as the only scenario to plan for.
| For advice on MiCA compliance and transaction structuring in the digital assets space, please contact our team. |