The European Union’s Market in Crypto Assets (MiCA) Regulations is the world’s first comprehensive legal framework for the issuance and trading of crypto-assets. The regulatory milestone aims to make the crypto industry in the Eurozone a transparent and secure environment for investors and consumers. MiCA Regulations apply to crypto asset issuers and service providers.
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Unlock the potential of Europe’s expanding crypto market with a Czech Republic crypto license. Whether you’re eyeing crypto opportunities in Prague or the wider EU, CryptoLicence offers comprehensive support to help you obtain a license efficiently. We ensure a smooth process from start to finish, allowing you to focus on business growth.
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Due to the ongoing regulatory uncertainty within the EU resulting from the MiCA implementation, we are no longer providing EU licensing services until further notice. If you require licensing solutions, we recommend considering alternative jurisdictions such as Switzerland SRO, Dubai VARA, or the El Salvador Crypto License.
This notice, dated 7 March 2025, is provided solely for general guidance and does not constitute legal, financial, or regulatory advice.
Tired of complicated regulations and slow licensing processes elsewhere? Our Poland crypto licensing service offers a refreshingly streamlined registration process for Virtual Asset Service Providers (VASPs), making it an ideal choice for those seeking a crypto license in Poland. With simplified Poland cryptocurrency regulation, entrepreneurs can swiftly access the vast European market.
Ready to launch your Polish VASP? Let’s partner up! Contact us today.
Once you are licensed, your clients will be able to swap one type of cryptocurrencies like Bitcoin or Ethereum to conventional national currencies like dollars or euros.
Your clients will be able to use their conventional national currencies to purchase cryptocurrencies.
With this service, your clients can convert one cryptocurrency into another. For example, they can trade Bitcoin for Ethereum.
This service enables your clients to use virtual currencies as a means of payment or value transfer. You can operate in a closed system, where only assets bought within your platform can be transferred; or in an open system that allows your clients transfer assets acquired elsewhere.
If your business involves providing platforms for the exchange, trade, or transfer of virtual assets without owning them directly, you’ll fall into this category. As a licensed intermediary, you’ll facilitate financial transactions for your clients, acting as the bridge without getting directly involved in the asset ownership.
With a licence, you can store your clients’ virtual assets securely in an electronic storage system. You’ll hold the private key while your clients manage their assets with the public key.
In 2024, a new regulatory framework will be introduced as part of the integration of the EU Crypto Asset Regulation Act (MiCA). A bill giving the Polish Financial Supervision Authority (KNF) more powers to regulate cryptocurrencies will be considered in the second quarter of the year.
The KNF now licences virtual asset service providers (VASPs) and will continue to do so, but with additional powers similar to those held by BaFin in Germany and the FCA in the UK. The new bill will allow the KNF to supervise cryptocurrencies, take action against non-compliant VASPs, impose fines, and take violators to court.
In a nutshell, you provide some basic information, and we’ll secure your Polish VASP registration. Here’s a general timeline:
Provide us with the basics, and we’ll secure your Polish VASP registration – guaranteed. Contact us today to discuss your VASP licensing needs.
Poland provides a favorable tax environment for crypto companies. Virtual assets are not classified as currency or payment instruments; instead, profits are taxed as personal income or business profits, depending on the activity.
Yes, cryptocurrency activities are legal in Poland. Companies must adhere to regulatory obligations, including registering with the Polish Financial Supervision Authority (KNF) and implementing anti-money laundering (AML) protocols. With the upcoming integration of the Crypto Asset Regulation Act (MiCA) across the European Union, more stringent requirements for crypto companies will soon be enforced.
No, your director and MLRO doesn't have to be based in Poland, though you’ll need a Polish company (Sp z oo) and a local office address. We can help with these.
No, Poland offers a single VASP registration, covering activities like crypto-fiat exchange, crypto-crypto exchange, and virtual wallet services.
With a crypto licence in Poland, you are able to conduct activities like:
(i) exchanging virtual currencies for fiat currencies,
(ii) exchanging between different virtual currencies,
(iii) intermediation of exchanges as mentioned in the first two categories, and
(iv) maintaining electronic identification data accounts (wallets) that allow authorised individuals to use virtual currency units, including conducting exchange transactions.
Crypto revenue is typically considered capital gains. Corporate business profits are taxed at 19% (or 9% for smaller entities).
Expect around 4-6 weeks, but delays can occur due to incomplete submissions or information requests from GIFI. We'll build a strong application and communicate effectively to minimise potential setbacks.
No, you must wait for official VASP registration. Operating as a VASP in Poland without official registration is illegal. Operating a cryptocurrency exchange or custody business in Poland without proper registration as a VASP in the local registry can result in a fine of up to PLN 100,000.
Expect regular AML/KYC, reporting, and audits. We offer ongoing compliance support to keep you on track.
These include AML/CFT monitoring, potential audits, and reporting. We can provide estimates.
Systems for customer onboarding, transaction monitoring, KYC/AML, and data security. We can advise on suitable solutions or connect you with trusted technology providers.
Yes, we can connect you with reliable compliance specialists and assess suitable providers specialising in crypto compliance to streamline your operations.
We have a proven track record and a client-focused, streamlined project management approach for licensing applications. We're experts in navigating global regulations and possess in-depth knowledge of Polish VASP regulations. We aim to be your long-term partner for compliance in Poland and potential expansion across Europe.
Yes! From company formation to application submission and communication with GIFI, we'll guide you every step of the way.
This content is applicable until 31 December 2024 (before MiCA came into effect). After the implementation of MiCA, please refer to Poland CASP registration for updated information and requirements.
The EU’s introduction of the Markets in Crypto-Assets (MiCA) regulation has raised important questions about the future of Tether’s USDT in Europe. As industry observers and market participants closely monitor these developments, EU-based businesses can approach the situation with measured confidence by thoroughly understanding their options and the evolving regulatory terrain.
MiCA, shorthand for the EU’s Markets in Crypto-Assets regulation, represents a significant overhaul of the European cryptocurrency framework. Its primary goal is to harmonize digital asset regulation across member states, balancing innovative Web3 advancements with the need for strong consumer protection, market integrity, and financial stability. By setting clear rules and licensing requirements, MiCA establishes a unified system that governs a broad spectrum of crypto assets—covering securities, e-money, and more—and applies to crypto-asset service providers (CASPs) operating within the European Economic Area (EEA).
For stablecoin issuers targeting the EEA market, MiCA introduces strict compliance standards. The regulation classifies crypto assets into three main categories:
Based on MiCA’s categorization, the regulation primarily targets electronic money tokens and asset-referenced tokens. Below is MiCA’s regulatory requirements for Stablecoins:
Not all exchanges have followed Coinbase’s lead. Giants like Binance and Crypto.com have, so far, continued offering USDT pairs in European jurisdictions, opting to wait for more explicit guidance from regulators. These platforms have indicated they will observe MiCA enforcement closely before making any major decisions about delisting or altering their stablecoin offerings.
Additionally, multiple European-based stablecoins and newer entrants—sometimes launched by regulated institutions—are working to position themselves as compliant alternatives. This includes stablecoins backed by Euro reserves and stablecoins seeking e-money licenses in multiple EU countries.
Recent CoinGecko data shows that USDT’s global market cap dipped from over $141 billion on December 19 to just above $138 billion in a span of about ten days, coinciding with MiCA’s effective date and growing regulatory chatter. While macro factors could also be in play, many analysts see heightened regulation in the EU as a contributing factor to Tether’s recent dip.
As USDT’s future in Europe wavers, Circle’s USD Coin (USDC) appears primed to capitalize. USDC is known for its transparent reserves and frequent audits by top accounting firms, and Circle has actively engaged with regulators worldwide—gaining an e-money license in France, for instance.
Market Shift: If USDT’s liquidity diminishes, USDC could capture the lion’s share of stablecoin trading pairs within the EU. This transition, while possibly uneven, would reflect traders’ preference for a stablecoin that is visibly backed and regulator-friendly.
At this stage, there’s no need for immediate concern regarding USDT’s position in the EU. Many major players in the crypto space continue trading USDT pairs, adopting a cautious “wait and see” approach. These companies are waiting for clearer guidance from MiCA before making significant changes.
For now, you can continue your business operations involving USDT. Monitor developments closely and be prepared to adapt once MiCA provides more definitive regulations. This period of regulatory uncertainty is also a time for the industry to adjust and prepare for potential compliance requirements.
The emergence of MiCA represents a watershed moment for the EU’s crypto industry. While Tether’s USDT maintains a commanding global presence, its future in the European single market hinges on meeting MiCA’s robust liquidity and disclosure mandates. Coinbase’s preemptive delisting of USDT highlights the urgency for stablecoin issuers to address these new standards—or risk losing market share.
Meanwhile, Circle’s USDC is among the most likely beneficiaries of this regulatory shift, given its established compliance credentials. Whether USDT can adapt or cede ground to competitors remains an open question, one that underscores MiCA’s role in reshaping Europe’s stablecoin landscape for years to come. The push toward more transparent, resilient stablecoins may ultimately strengthen the market—though it is almost certain to bring near-term volatility and force tough decisions for issuers and exchanges alike.