{"id":6160,"date":"2024-10-11T08:27:47","date_gmt":"2024-10-11T08:27:47","guid":{"rendered":"https:\/\/legalbison.com\/?p=6160"},"modified":"2025-08-18T15:42:05","modified_gmt":"2025-08-18T15:42:05","slug":"polish-crypto-regulator-comments-on-mica-enforcement-timeline","status":"publish","type":"post","link":"https:\/\/legalbison.com\/en-kr\/blog\/crypto-license\/polish-crypto-regulator-comments-on-mica-enforcement-timeline\/","title":{"rendered":"Polish crypto regulator comments on MiCA enforcement timeline"},"content":{"rendered":"

On August 9th of 2024, the Polish Government Legislation Center published the<\/span> Polish Draft Act<\/span><\/i><\/a> (PDA), a proposal draft tackling the enforcement of the<\/span> Markets in Crypto Assets (MiCA) regulation<\/span><\/a> in Poland. The PDA first and foremost names the\u00a0<\/span>Komisja Nadzoru Finansowego<\/span><\/i><\/a> (KNF) as the responsible authority for cryptocurrency business regulation in Poland, within the scope of the MiCA regulation.<\/span><\/p>\n

This is not a final text, as it will undergo additional scrutiny in the legislative process. <\/span>Nonetheless, the PDA sets the stage for further advancements on the transition from the current<\/span>\u00a0crypto license in Poland<\/span><\/a> to the enforcement of the MiCA regulation and of the Crypto Assets Service Provider (CASP) status to crypto businesses. <\/span><\/p>\n

If you are currently operating under a registration as virtual asset service provider<\/a> (VASP) in Poland, read carefully.<\/span><\/p>\n

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Read also about the March 2025 update on the enforcement of MiCA in Poland<\/a>.<\/div>\n<\/div>\n

Comments from the Polish regulator<\/b><\/h2>\n

We shall look into the PDA to understand the vision and to acknowledge the provisional decisions taken during the Polish legislative process for crypto-assets services providers and for<\/span> emittors of crypto-assets under the new MiCA regulation<\/span><\/a>.<\/span><\/p>\n

Entry into force and transitional period<\/b><\/h3>\n

The main information emanating from this draft act, is the permission to operate for<\/span> Polish VASPs<\/span><\/a> until June 30th of 2025. As the MiCA regulation for crypto-asset service providers (CASP) will enter into force in December of 2024, this means a grandfathering-period of six months for crypto businesses established in Poland. However, it is heard that operating VASP should either apply for the CASP status (as per the MiCA regulation) or withdraw their license before May 1st of 2025.<\/span><\/p>\n

It is also heard that the Polish regulatory authorities have the power to cancel a license during the transitional period. This means that the tolerance for previously registered VASPs is implicitly held for companies who have the shoulders and will to comply with the MiCA requirements.<\/span><\/p>\n

Licensing fees<\/b><\/h3>\n

The PDA disclosed that the application to register a company as a CASP in Poland shall be accompanied by a fee of up to 4.500 EUR. <\/span>Note: emitters of<\/span> Asset-Referenced Tokens<\/span><\/a> (ART) are subject to the same fee.<\/span><\/p>\n

CASPs with a license registered in another EU member state must report their activities in Poland, registration involves a fee of up to EUR 4.500, but if the home member state of the CASP does not charge any registration fee, the fee is waived.<\/span><\/p>\n

An annual fee will apply from the second year for CASPs and emitters of ARTs alike. This fee shall be calculated between a minimum of 500 EUR (in PLN equivalent) and:<\/span><\/p>\n