Poland’s Crypto Licensing Stalemate Benefits EU‑Licensed Firms

Poland’s parliament was unable to overturn President Karol Nawrocki’s veto on a bill needed to implement parts of the EU’s Markets in Crypto‑Assets (MiCA) Regulation. The defeat means the country has not yet designated a domestic authority to process MiCA licence applications.

Legislative outcome

On September 4, lawmakers recorded 241 votes in favour of re‑enacting the bill, 198 against and three abstentions, falling short of the threshold required to override the June 11 veto.

Impact on domestic applicants

The Polish Financial Supervision Authority (KNF) said that authorisation procedures cannot begin until a competent authority is designated by law. As a result, Polish crypto firms cannot apply for a MiCA licence in Poland.

EU‑licensed competitors retain market access

MiCA allows an authorised crypto‑asset service provider (CASP) to operate across EU member states after notifying its home regulator of the intended countries and services. Polish regulators confirmed that this cross‑border route remains open, enabling firms licensed elsewhere in the bloc to serve Polish customers.

Transition period expiry

The MiCA transition period ended on July 1, closing the previous Polish virtual‑currency activity register as a basis for continued operation. The Katowice Tax Administration Chamber stated that entries on that register no longer provide authorisation.

Consequences for the market

Domestic companies that rely solely on the old Polish registration are now blocked, while those with an EU‑wide licence can continue serving Polish users through the cross‑border notification mechanism. This creates an incentive for firms to seek licensing in another EU member state rather than wait for Polish legislation.

Outlook

Polish crypto firms must await a new law designating a competent authority before they can obtain a domestic MiCA licence. Until then, the quickest path to Polish customers may involve obtaining a licence in another European capital.